I have a question regarding which pivot points to use on which time frames.
If I am trading using the weekly chart to find support and resistance and zooming in to the daily and (minimum) 4 hr to find entry points would it be better to just use monthly pivot s/r levels or should I include the weekly levels?
It seems to me that on the daily chart the weekly s/r levels are only valid for 5 bars before the pivot levels change. Saying that though, sometimes it appears that price does react to these levels during that week.
Does anyone have an opinion on this? Thanks.
If I am trading using the weekly chart to find support and resistance and zooming in to the daily and (minimum) 4 hr to find entry points would it be better to just use monthly pivot s/r levels or should I include the weekly levels?
It seems to me that on the daily chart the weekly s/r levels are only valid for 5 bars before the pivot levels change. Saying that though, sometimes it appears that price does react to these levels during that week.
Does anyone have an opinion on this? Thanks.