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Hi Mark,
thanks for the email. I have completed reading the 3 chapters and have started to do some plotting of WRB zones. I did have some intitial questions. In one of the chapters ( I think 2 or 3) there is an annotated graph of the YM's with several questions on the chart. In the text below, you state "go to your discussion forum and read the message post titled "Answers to Questions for the mini-sized Dow Chart in Chart 1" in the thread called Tutorial Chapters 1, 2 and 3."
For some reason, I could not find this. Can you direct me to the right location?
Also, after reviewing the chapters, it seems to me that WRB zones seem similar to pivot points. Is this a correct assessment? How are they different (I understand how you define them is different, but I guess what I'm asking is how are they different in their usage?
thanks,
Pat
Hi Pat,
I'll get that missing information posted today and will then edit this message post to include a direct link to it.
viewtopic.php?f=61&t=306With that said, WRB S/R Zones are not similar to pivot points via the fact that traders use pivot points to look for "reversal signals".
In contrast, WRB S/R Zones or the same WRB S/R Zone can be used to confirm reversal signals and trend continuation signals via whatever trade signals you're using. Further, WRB S/R Zones have designated lifespan whereas pivot points are very subjective from one trader to the next trader about how long they continue using a pivot point.
In addition, pivot points are usually (not always) based upon a matematical equation. WRB S/R Zones gets into the WHYs of the change in supply/demand and that allows a trader to understand the price action.
Best Regards,
M.A. Perry
http://www.thestrategylab.com
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