Mike,

Search the web and this group archive for reference to John Person -- I think he is the leading author on pivot points and how to use them in trading. (He even claims to have introduced them to the CBOT in the 70's/80's) Billy has frequent quoted from his work. I met John a couple times at public events, he is very dedicated to educating. See his website www.nationalfutures.com


Pivot and and S/R-levels are only working because big parties are using them as lines-in-the-sand. Inventing a S4/and R4 without convincing GS to use them a new line in the sand makes no sense. You need a big cash pool behind you to make a level work.

Ernst