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It is always difficult to draw a line somewhere and declare it an entry or exit level. So you need something to increase the probability further.
-> if the level is situated outside a Keltner Channel or other volatility band
-> if it is reinforced by yesterday's high or low, or a fibonacci line
-> if price is in a trading range (night session or ranging days)
The levels PP, R2 and S2 are stronger that the other values.
Pivots depend on the volatility of the prior day, so if the prior day was a narrow range day, the pivots are closely clusted and you may need to watch out for S3, S4 and R3, R4 to have significant support or resistance.
Here are some examples, I use RTH pivots for all instruments except for currencies, for which I use ETH pivots.
Broker: Advantage Futures, Ninja/TT and InvestorRT/IQFeed.
Trading: Treasury futures
Posts: 312 since Nov 2010
Thanks Given: 194
Thanks Received: 911
Attached is the most recent update of my auction results spreadsheet. It includes 2,3,5,7 year note auctions from 2008 through 2010. I'll probably finish this tomorrow, with 10 and 30 yr. auctions. I'm not planning on doing TIPS auctions. Since this project is primarily about seeing how Treasury auctions impact price behavior before and after the auctions, probably the most important data is the auction date. I'll double check these before posting the final version. I have found one error already, there may be others.
"You don't need a weatherman to know which way the wind blows..."
Broker: Advantage Futures, Ninja/TT and InvestorRT/IQFeed.
Trading: Treasury futures
Posts: 312 since Nov 2010
Thanks Given: 194
Thanks Received: 911
Here's the final update, all non TIPS coupon auction results from 2008 to 2011. The dates are all proofread, the numbers are not. The dates are what are most important IMO.
"You don't need a weatherman to know which way the wind blows..."