ES and its extremes above R4 or below S4
|February 21st, 2011, 03:53 PM||#11 (permalink)|
Futures Experience: Advanced
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Original floor pivots stop at the levels R2 and S2. Further out levels R3, R4 and S3, S4 were added later. There are two alternating methods to calculate these levels.
Easiest: Download SessionPivots indicator. Put it on your chart in both modes Floor andWide and you will see both alternative valuess for R3, R4 and S3, S4.
Crude oil made it up well above R4 (floor) and R3 (wide) today and stopped exactly at the 3-day rolling pivot R3 (floor).
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