Lately, the strategy I've been employing has been my own attempt at eyeballing pivot points, more or less. I've now decided to use the 5-point system and see how it works out. The charts below have the levels on them, and I will probably be keeping the pivot point analysis to Weekly, Monthly, and perhaps Daily time frames due to the speed at which I trade.
The levels I have come up with so far, aren't too far from what I've guessed at, but I'm glad to have a more grounded approach.
Interestingly, the weekly chart with the monthly levels on it suggests we are heading for monthly R2, in the 1880's. Although, the daily chart makes the short term look a little less optimistic, so maybe 1858 was all we get this month.
S&P 500 Daily Chart
Weekly Pivot Points
R2 - 1859.03
R1 - 1847.64
PIVOT - 1836.11
S1 - 1824.72
S2 - 1813.19
S&P 500 Weekly Chart
Monthly Pivot Points
R2 - 1881.68
R1 - 1832.13
PIVOT - 1801.29
S1 - 1751.74
S2 - 1720.90
No comments:
Post a Comment