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Woodie´s pivot points stats

 
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thierry_q



Joined: 14 Aug 2009
Posts: 1

PostPosted: Mon Feb 08, 2010 2:34 pm    Post subject: Woodie´s pivot points stats Reply with quote

I´ve been doing stats on woodie´s pivots trading Crude and I am trying to establish a "Pattern Danger Zone" which is the Pivot point +/- ticks area where the patterns usually fails.

I´ve just started with it and noticed that ZLRs are very successful with Crude and I´ve observed that a ZLR entry point (bar open) 14 ticks above or below a Pivot point (PP, R1, S1, etc) frequently fails.

I´m also collecting data on others patterns and will post here in a near future.

Do you have any data to share?
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pauli



Joined: 09 Nov 2008
Posts: 82

PostPosted: Fri Feb 12, 2010 2:09 pm    Post subject: re Reply with quote

hi thierry_q

I agree with your observation that pivots carry lots of weight in CL.

However what kind of pivot in relation to that session-slice is a decision every trader must do for oneself.

I usually try to avoid entries which run directly against a pivot - but I like bounces from them.

On the over hand with pivots it is sometimes not that clear and cut - if price hoovers around at a pivot area - an entry against this pivot might be wise in this case - it is a bit dynamical.

( All this is only my mind - It might work for you or not )

pauli
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Nicker



Joined: 20 May 2005
Posts: 329

PostPosted: Wed Mar 03, 2010 10:10 am    Post subject: Reply with quote

Thierry

Good for you for doing stats on this! In my observation, there are almost no failed ZLR's if we are open-minded about what one is. When they occur near pivots, the bounces are often larger than when they occur away from pivots, so I find it necessary to look at my entry criteria on potential ZLR's which occur near pivots. Once you have experience with Woodies basics, you can change any , even all, of the basic rules as long as you do the stats.

nicker
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