It depends on the security that you're trading. Do you trade futures, stocks, stock options or index options?
In my experience, Pivot Points (Fibonacci) are best used along with price-action triggers. For example, Candlestick reversal patterns on a daily chart and Heikin Ashi candles.
Check out the following daily charts of the NIFTY. 8470 was a Fibonacci retracement level, where the NIFTY bounced back from to form a Piercing pattern. The bullish reversal was confirmed the next day with a gap-up open, and a green Heikin Ashi candle.
If you're trading intraday, lookout for trend reversal on a 15-minute chart using Heikin Ashi candles near Pivot Levels.
