Hi ML,
Ahh,my friend,sometimes one has to keep things as simple as it possibly can.I have no idea about a wooden or camarilla pivot.I don't use any formulae either.I trade what is obvious to the eyes.........
Now let 's just try to understand what a pivot is without all the mathematical jargon,and all the other complexities that one attributes to make life only more difficult.Take out your right hand.........look at it with the palm facing you.We have the little finger,then the ring finger.The ring finger forms a higher high and a higher low as compared to the little finger.The middle finger forms a higher high and low as compared to the ring finger.Just taking these 3 fingers,and one can say that one is in an uptrend,all higher highs and lows.
Now we get the index finger,the index finger forms a lower high and a lower low,and the same with the thumb.The middle finger is therefore the pivot.It has two fingers on either side both lower highs and lows.
What one does is to simply look for a pivot and then look for the next pivot to be higher than it........Pivot 1 is at 33,Pivot 2 is at 31,Pivot 3 is at 27,Pivot 4 is at 25,Pivot 5 is at 27.......one now says that Pivot 5 has made a higher pivot low as compared to the previous pivot.It is a sign of possible bullishness,an indication that things could run up from here.........If we are right,hurray!!If not we got our stops ready.
I prefer to keep things simple.Complex minds can talk,analyse ,argue,counter-argue,write books,talk seminars,be applauded for their brilliance.I am willing to applaud them too.........but trading is a different kettle of fish.Keep things simple,my friend,because as your complex friends talk their heads off about how many ways you can't do something,you'd simply nod and laugh all the way to the bank.
Wishing you all the best!
Happy Trading!
Saint
ps:nice articles by yourself in some of the other threads.Great going...and keep em coming!
