Although there is an almost standardized calculation of daily pivots along with the support and resistance levels, I can't fail to notice that different brokers have different server times which affect the levels significantly. See below, I'm comparing 5 different brokers, each with their own S&R levels for 1H EUR/USD. So is this a matter of choosing the right broker?
We have to know which levels the big players are using. That's how we can benefit from these levels. I'm guessing the reason why S&R are not very dependable is because Tokyo's players are using different S&R compare to London's and New York's. It's the cliche that everybody looks for different things on the same chart.
Would appreciate any enlightenment on this question. Many thanks guys.
We have to know which levels the big players are using. That's how we can benefit from these levels. I'm guessing the reason why S&R are not very dependable is because Tokyo's players are using different S&R compare to London's and New York's. It's the cliche that everybody looks for different things on the same chart.
Would appreciate any enlightenment on this question. Many thanks guys.