Trading floor pivot levels - futures io
futures io



Trading floor pivot levels


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one lightsun47 with 2 posts (2 thanks)
    2. looks_two Sandpaddict with 1 posts (1 thanks)
    3. looks_3 Fonz with 1 posts (1 thanks)
    4. looks_4 Mozart2112 with 1 posts (0 thanks)
    1. trending_up 827 views
    2. thumb_up 4 thanks given
    3. group 5 followers
    1. forum 4 posts
    2. attach_file 0 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Trading floor pivot levels

(login for full post details)
  #1 (permalink)
lightsun47
Toronto, Canada
 
 
Posts: 158 since May 2018
Thanks: 176 given, 122 received

Hello,

I have a question for floor pivot traders who trade the levels everyday, e.g. major floor pivot support / resistance levels.

I will take yesterday as an example for ES futures, May 10th, 2021.

Price opened above pivot point. Then went down, looking to make it's gonna hit the S1 area. Suddenly, it broke though pivot point again, so much so, that it was almost halfway to R1 area.


Again, this just reversed to come back to pivot point, then a monstrous move down to S1 (4200), then again, just by close, all the way to S2 (4175) area.

My question is, whoever is trading these levels, do you identify when to enter solely based on order flow / bookmap indicators (because almost everyone here is using them)?

Or do you just trade strictly based on price action? If this, then how would you trade something which reversed instead of going to your intended target? E.g. Failure of price reaching R1 area. Will you gladly take a stop because that's how trading is?

Thank you.

Sent using the futures.io mobile app

Reply With Quote

Can you help answer these questions
from other members on futures io?
you cant wait for life is not hard anymore before you de …
Psychology and Money Management
Using fxd files in FXCM trading station
Platforms and Indicators
Wyckoff room
The Elite Circle
Price Action Swing Pro NT8
NinjaTrader
AUSuperTrend in the NT strategy builder
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on futures io
The Beast Slayer, Lances NQ Trading Journal
31 thanks
Michael Burry warns the Mother of All Crashes is coming
21 thanks
Spoo-nalysis ES e-mini futures S&P 500
18 thanks
FairX is launching soon
17 thanks
Chart Trader Alternatives ?
14 thanks
 
(login for full post details)
  #2 (permalink)
Mozart2112
Minoqua Wi USA
 
 
Posts: 92 since Sep 2019
Thanks: 49 given, 53 received

Use price action to either confirm or reject these levels.

Reply With Quote
 
(login for full post details)
  #3 (permalink)
 Fonz 
Miami, Fl
 
Experience: Advanced
Platform: Tradestation, Jigsaw
Trading: Futures
 
Fonz's Avatar
 
Posts: 43 since Feb 2012
Thanks: 18 given, 47 received


I use Jigsaw just because of the great DOM they have. This DOM is stable, doesn't freeze, etc. But, no order flow for me. I use Daily, Weekly and Monthly pivots on my chart.
You could try other kind of charts with your pivot points (could be tick or volume based).. And also test Daily pivots for a regular session (floor) or a Globex session, and see the difference.
Best!

Reply With Quote
The following user says Thank You to Fonz for this post:
 
(login for full post details)
  #4 (permalink)
lightsun47
Toronto, Canada
 
 
Posts: 158 since May 2018
Thanks: 176 given, 122 received

Thanks Fonz. All my time here, I am surprised no one actually talks about trading the way floor traders do like at the stock exchange.

Everyone (almost) is either running behind heatmap and/or order flow.

But when you look at these floor pivots, you will start to see the actuality as to how the market wants to move from one area to another. Of course order flow / heatmap are just the tools, but my main concern was why anyone is never talking about how and why the price moves to these levels everyday.

If you can clearly spot your trend - clearly - then you will know the price will have to go test the next area, either up or down. Yes there might be hiccups and actual reversals because of news, but majority of times, the prices just move smoothly from area to area on bigger time frames like on one hour, four hour charts and daily charts.

Sent using the futures.io mobile app

Reply With Quote
The following 2 users say Thank You to lightsun47 for this post:
 
(login for full post details)
  #5 (permalink)
 Sandpaddict 
Langley
 
Experience: Intermediate
Platform: Ninjatrader
Broker: IB
Trading: Futures
 
Sandpaddict's Avatar
 
Posts: 643 since Mar 2020


lightsun47 View Post
Thanks Fonz. All my time here, I am surprised no one actually talks about trading the way floor traders do like at the stock exchange.

Everyone (almost) is either running behind heatmap and/or order flow.

But when you look at these floor pivots, you will start to see the actuality as to how the market wants to move from one area to another. Of course order flow / heatmap are just the tools, but my main concern was why anyone is never talking about how and why the price moves to these levels everyday.

If you can clearly spot your trend - clearly - then you will know the price will have to go test the next area, either up or down. Yes there might be hiccups and actual reversals because of news, but majority of times, the prices just move smoothly from area to area on bigger time frames like on one hour, four hour charts and daily charts.

Sent using the futures.io mobile app

YES @lightsun47 Yes! That's the way I look at it too. For the most part anyway.

Sent using the futures.io mobile app

Visit my futures io Trade Journal Reply With Quote


futures io Trading Community Traders Hideout > Trading floor pivot levels


Last Updated on May 15, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Our 12-year anniversary w/ $$,$$$ prizes (check soon)

June
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts