The following discussion compares two different types of intraday pivot-point strategies designed to capture both countertrend and breakout moves.

The first strategy uses standard pivot points, while the second strategy uses pivot points based on Fibonacci levels with the goal of defining more accurate support and resistance levels and boosting the technique’s reward-to-risk ratio.

The system is tested on the E-Mini S&P 500 futures (ES) but it can be applied to other stock-index futures.