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Thread: Confirmation Techniques for the Gartley pattern: Pivot Points

  1. #1
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    Confirmation Techniques for the Gartley pattern: Pivot Points

    Traders use pivot points to identify potential support and resistance levels, which are price levels at which the direction of price movement can change. Very objective method to apply!

    Pivot points are calculated using the last trading session's Open, High, Low and Close prices. Since Forex is a 24-hour market, most traders use the New York closing time of 4:00pm EST as the previous day's close, but test if it really works best for you this way.

    There is very nice tutorial on Pivot Points available here: http://www.babypips.com/school/forex-pivot-points.html

    See examples of the pivot points ploted on the real charts (different MT4 indicators were used to prepare these screenshots so you can get a feeling on the different visualization opportunities):







    Note: Pivot, DPV = Pivot Point, S = Support, R = Resistance


    As you can see different pivot points act often enough as perfect support and resistance levels. Therefore also Pivot points serve as very good (and objective!) confirmation method for the harmonic trading.
    When projecting point D for the Gartley pattern check also the location of the closest pivot points.
    Best if point D identified from the Gartley measurements is located on one of the pivots.

    The following video presents this technique best:

    Last edited by kor4x; 02-11-2012 at 09:08 PM.

  2. #2
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    lots of pivot points indicators for MT4 platforms: pivot points indicators

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    live example from EURUSD pair: trendline + harmonic + pivot point (Weekly S1) --> http://tradingarsenal.com/eurusd/105....html#post2044

  4. #4
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    Pivot point confirms the Gartley bearish D point location --> Confirmation Techniques for the Gartley pattern: Pivot Points-gartley-pattern-confirmed-pivot-point-eurjpy-m5-2012-08-01_2219.png

  5. #5
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    If you are day / swing trading do you just use the standard daily pivots or do you also use the weekly and monthly pivot points?

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    Daily, weekly & monthly. I like when they confirm the entry location, the more the better, ... but if I see other confirmations at my possible entry level, but not pivots, I also can take the trade. Still learning and observing...
    You?

  7. #7
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    Quote Originally Posted by kor4x View Post
    Daily, weekly & monthly. I like when they confirm the entry location, the more the better, ... but if I see other confirmations at my possible entry level, but not pivots, I also can take the trade. Still learning and observing...
    You?
    I have only used the daily pivot points at the moment. Haven't had much experience with the weekly or monthly pivot points.
    The daily pivots seem pretty good as a guide and are usually a good TP point especially if it was skipped by price previously.


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