Pivot bounce (PIVOT-BOUNCE)

How the setup is identified

Trades a reaction at a classical pivot point level calculated from the previous session's high, low and close.

Status and evidence

Zero fires. Redundant with RANGE-REV.

What we learned

Zero fires in live trading, and cut as redundant with RANGE-REV. Pivot levels frequently coincide with range boundaries, so the two strategies were often looking at the same price from different directions.

Pivots derive whatever significance they have from convention — enough participants plot the same standard levels that reactions there are partly self-fulfilling. That effect is weaker than it used to be, and it was never strong enough to build on alone.