TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... Message Board

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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....

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To: Rashid Garuba who wrote (9225)	6/3/1999 9:13:00 PM
From: TATRADER	Read Replies (2) of 59879

rashid, here is something interesting from Collin on Pivot points... If you plug this in with HM, the support would be 7.75 and the resistance would be at 8.0766..Break 8.0766 on bid and we are on way to 8 1/2..Collin, hope you don't mind me sharing this? Do you use intraday pivots points? Tradehard had an interesting article about them in the Traders Learning Section...it would be interesting to see if they correlate with fib.retracements...if so then maybe it would be an excellent entry pt. or exit...To calculate the pivot point, support and resistance levels for the next trading day you need today's high, low and close. The pivot point is simply the average of the high plus low plus close, or (H + L + C)/3. Support level 1 is calculated by multiplying the Pivot by 2 and then subtracting the day's high. Resistance level 1 is calculated by multiplying the Pivot by 2 and then subtracting the day's low. Finally, the secondary support (S2) and resistance (R2) levels are calculated by using the numbers (P, S1 and R1) created in step one. These are the calculations: Pivot (P) = (H + L + C)/3 Resistance level 1 (R1) = (2P) - L Support level 1 (S1) = (2P) - H Resistance level 2 (R2) = (P - S1) + R1 Support level 2 (S2) = P - (R1 - S1)

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