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How to set targets using PP, S1, S2, S3, R1, R2, R3
Unfortunately this isn't possible in a vacuum as you suggest, but if you learn to read price action and context of the market chosen, then you can derive how and when to place a buy or sell signal, the expected target, stop loss, etc.
Also, appreciate that even if you've seen selected examples suggesting that price behaves in some kind of "set/predictable patterns" around those levels, (a) that's anecdotal evidence only and they may have been specifically selected for the purpose of making them look like good examples (selection bias), and (b) "random line theory" can also produce spectacular examples of prices behaving in certain ways at certain prices (this thread will help you:
I want to test something. It's simple. Place some random lines on your chart prior to the day opening, and see if at the end of the day you feel like those lines were important (try to imagine they weren't random, but some expensive or complicated …
Something I didn't mention but was alluded to in my previous post, is that reading price action may allow you to find areas that could produce a reaction, i.e. support or resistance. These areas then may offer an edge, no matter how slight, to permit an astute trader to profit from them. Lines by themselves are just lines and have no relevance. The pivot levels you mentioned may or may not produce a reaction, but the slight benefit is that a lot of traders are using them and causes a self fulfilling prophecy around them sometimes. So reading price action around levels and the context in which you are reading it is more important than the levels themselves...
