Study says pivots don't work?

This simple study says that pivot points don't work; they author tested 10 major currency pairs for 2006 to the present and found that the price was no more likely to revert back to the pivot point than any other number [url]http://www.myforexdot.org.uk/PivotPointAnalysis.html[/url].

If pivots work, can someone suggest something that can be back tested to show that they have some statistical significance?

11-Nov-09
Key Price Levels
1093.00 00:41
1102.00 03:53
1095.25 08:46
1103.25 09:15
1091.50 10:56
1091.50 10:56
1097.50 11:35

Daily Classic Pivot Points (ETH basis)
- PP --- * Price-* Dif
R2 1100.00 1103.25 -3.25
R1 1096.00 1095.25 0.75
Notes: PP close to the high.

Weekly Classic Pivot Points
- PP --- * Price-* Dif
R2 1097.50 1097.50 0.00
Notes: R2 matched

Daily Classic Pivot Points (RTH basis)
- PP --- * Price-* Dif
R2 1100.00 1103.25 -3.25
PP 1090.50 1091.50 -1.00
Notes: Good match PP to low


Hope it helps!

12-Nov-09
Key Price Levels
1091.00 06:37
1082.50 07:30
1091.75 08:33
1101.00 09:00
1087.00 12:14
1091.00 13:14
1082.50 14:39

Daily Classic Pivot Points (ETH basis)
- PP --- * Price-* Dif
R1 1102.50 1101.00 1.50
S1 1090.50 1091.75 -1.25
Notes: R1 close to the high.

Weekly Classic Pivot Points
- PP --- * Price-* Dif
R1 1081.75 1082.50 -0.75
Notes: R1 for low

Source of PP for ETH basis
http://www.mypivots.com/dn/?symbol=224

Daily Classic Pivot Points (RTH basis)
- PP --- * Price-* Dif
PP 1090.25 1091.75 -1.50


[U Fibonacci Retracements and Extensions /u]
-- PP --- * Price-* Dif
LOW 1091.25 1091.75 -0.50
62% 1083.75 1082.50 1.25

Hope it helps!

19-Nov-09
Key Price Levels
1106.75 00:40
1097.75 05:40
1101.50 08:13
1087.75 08:54
1092.75 09:24
1086.50 10:06
1095.25 14:50

Daily Classic Pivot Points (ETH basis)
- PP --- * Price-* Dif
S1 1102.50 1101.50 1.00
S3 1086.75 1086.50 0.25
Notes: S3 close to the low.

Weekly Classic Pivot Points
- PP --- * Price-* Dif
R1 1108.25 1106.75 1.50
PP 1086.50 1086.50 0.00
Notes: PP matched the low.

Source of PP for ETH basis
http://www.mypivots.com/dn/?symbol=224

Daily Classic Pivot Points (RTH basis)
- PP --- * Price-* Dif
PP 1106.25 1106.75 -0.50
Notes: Good match PP to overnight high

[U Fibonacci Retracements and Extensions /u]
-- PP --- * Price-* Dif
62% 1107.00 1106.75 0.25
LOW 1100.75 1101.50 -0.75

Notes: 62% to o/n high

Hope it helps!

24-Nov-09
Key Price Levels
1102.00 06:08
1105.50 07:26
1102.50 08:30
1111.50 08:59
1102.00 13:15
1105.50 14:16


Daily Classic Pivot Points (ETH basis)
- PP --- * Price-* Dif
PP 1101.50 1102.00

Source of PP for ETH basis
http://www.mypivots.com/dn/?symbol=224

Daily Classic Pivot Points (RTH basis)
- PP --- * Price-* Dif
PP 1105.50 1105.50 0.00
Notes: Good match to PP

[U Fibonacci Retracements and Extensions /u]
-- PP --- * Price-* Dif
HIGH 1111.50 1111.50 0.00

Notes: HIGH worked well!

Hope it helps!

24-Nov-09
Key Price Levels
1107.00 07:29
1103.50 07:40
1105.50 08:30
1095.00 09:00
1104.75 09:45
1099.25 10:37
1106.75 13:49


Weekly Classic Pivot Points
- PP --- * Price-* Dif
R1 1107.00 1106.75 0.25
Notes: R1 for high

Source of PP for ETH basis
http://www.mypivots.com/dn/?symbol=224

Daily Classic Pivot Points (RTH basis)
- PP --- * Price-* Dif
PP 1105.50 1105.50 0.00
S1 1099.50 1099.25 0.25
Notes: Good match PP to morning high and S1 to low

[U Fibonacci Retracements and Extensions /u]
-- PP --- * Price-* Dif
62% 1103.00 1103.50 -0.50
38% 1097.50 1099.25 -1.75

Hope it helps!

25-Nov-09
Key Price Levels
1105.75 05:01
1111.25 07:34
1103.25 08:44
1100.00 10:41
1106.50 11:40
1110.75 13:50


Daily Classic Pivot Points (ETH basis)
- PP --- * Price-* Dif
R1 1108.25 1110.75 -2.50
PP 1101.75 1100.00 1.75
Notes: no close matches R1,PP.

Weekly Classic Pivot Points
- PP --- * Price-* Dif
R1 1107.00 1106.50 0.50
Notes: R1 for interim high

Source of PP for ETH basis
http://www.mypivots.com/dn/?symbol=224

Daily Classic Pivot Points (RTH basis)
- PP --- * Price-* Dif
R1 1108.50 1110.75 -2.25
PP 1101.75 1100.00 1.75
Notes: Good match PP to low

[U Fibonacci Retracements and Extensions /u]
-- PP --- * Price-* Dif
62% 1102.50 1103.25 -0.75
50% 1101.00 1100.00 1.00

Notes: 50% to low

Narrow range day with light volume pre Thanksgiving holiday.
Hope it helps!

Key Price Levels
1111.75 12:46
1106.50 03:24
1108.50 08:41
1102.50 09:23
1111.75 12:35
1106.50 14:35

Note: Good matches from pre-open numbers!

Weekly Classic Pivot Points
- PP --- * Price-* Dif
R1 1111.75 1111.75 0.00
Notes: R1 exact to high

Source of PP for ETH basis
http://www.mypivots.com/dn/?symbol=224

Daily Classic Pivot Points (RTH basis)
- PP --- * Price-* Dif
R1 1108.50 1108.50 0.00
PP 1101.75 1102.50 -0.75
Notes: Exact match R1 to morning high. Good match PP to low

[U Fibonacci Retracements and Extensions /u]
-- PP --- * Price-* Dif
50% 1102.00 1102.50 -0.50

Notes: 50% to low

Hope it helps!

Oops!

Ignore preopen numbers above and note!
The actual ones.
1094.00 12:46 1112.00
1105.00 03:24 1123.00

Hey Blue,

This is great stuff! And it is much appreciated with your continual follow-up and postings. Since you've tracked these levels for all to see, you probably have the best grasp on what/where/how the pivot levels might be employed.

I'd be interested in your take, based upon what you've gleaned, as to the best way to view these levels and trade at or around these levels from your own experience of watching them.

Looking forward to your feedback here ... and again, thanks!

MM

02-Dec-09
Key Price Levels
1111.00 07:15
1106.75 08:14
1108.25 08:57
1115.25 09:14
1104.25 11:24
1109.75 14:51



Daily Classic Pivot Points (ETH basis)
- PP --- * Price-* Dif
PP 1104.25 1104.25 0.00
Notes: PP matches low.

Weekly Classic Pivot Points
- PP --- * Price-* Dif
R1 1111.75 1104.25 7.50
Notes: R1 exact to high

Source of PP for ETH basis
http://www.mypivots.com/dn/?symbol=224

Daily Classic Pivot Points (RTH basis)
- PP --- * Price-* Dif
PP 1107.50 1108.25 -0.75
S1 1103.25 1104.25 -1.00
Notes: Good match PP to low

[U Fibonacci Retracements and Extensions /u]
-- PP --- * Price-* Dif
62% 1104.25 1104.25 0.00

Notes: 62% matches low

Hope it helps!

Study wasn't usin' them right. Nuff' said.