Indicators are liars! Support and Resistance Trading for the S&P emini
Hi everyone
Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs and summary are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays
Always use a set up based upon your system to enter a trade.
Good trading all
Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs and summary are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays
Always use a set up based upon your system to enter a trade.
Good trading all
Attachments
Some questions I have recived that may help others...
How far back do you usually start for your first S/R when looking at a day? Do I start with a 1hr chart over a weeks view? Do I go over a several month view on a 1 hr chart?
I usually look at 1-2 days prior to that trading day, it all depends upon the general range of the market, lately with the crazy volatiliy we have had 100 point ranges, and making lows we havent seen since 2003, When going back to historical levels(3yrs+) I only use levels from the 4hr chart.
Essentially I go back as far as I have to based upon where the market is. Generally its only a couple of days, I usually have a few weeks of data up to compare the history of a level.
Spotting the lines on a daily business from visual recognition is a skill in itself I would assume? Sometimes when I look at charts I feel there are several different spots that could hold as support and resistance. Any tips to spotting or rules of thumb to draw them in.
-Be Obvious - If everyone can see it is likely it will work well. We are are not trying to be complicated or covert. My style of trading is not about seeing things that other do not. It is about being one of the first to react to what everyone can see.
-Spikes (long wicks)
-Areas that have been used as Support AND Resistance.
-Number that are close to big whole numbers e.g. 950, 1000
How far back do you usually start for your first S/R when looking at a day? Do I start with a 1hr chart over a weeks view? Do I go over a several month view on a 1 hr chart?
I usually look at 1-2 days prior to that trading day, it all depends upon the general range of the market, lately with the crazy volatiliy we have had 100 point ranges, and making lows we havent seen since 2003, When going back to historical levels(3yrs+) I only use levels from the 4hr chart.
Essentially I go back as far as I have to based upon where the market is. Generally its only a couple of days, I usually have a few weeks of data up to compare the history of a level.
Spotting the lines on a daily business from visual recognition is a skill in itself I would assume? Sometimes when I look at charts I feel there are several different spots that could hold as support and resistance. Any tips to spotting or rules of thumb to draw them in.
-Be Obvious - If everyone can see it is likely it will work well. We are are not trying to be complicated or covert. My style of trading is not about seeing things that other do not. It is about being one of the first to react to what everyone can see.
-Spikes (long wicks)
-Areas that have been used as Support AND Resistance.
-Number that are close to big whole numbers e.g. 950, 1000
Hi everyone
Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs and summary are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays
Always use a set up based upon your system to enter a trade.
Good trading all
Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs and summary are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays
Always use a set up based upon your system to enter a trade.
Good trading all
Attachments
Hi everyone
Another historic day is about to unfold. I dont have any futures levels below 837.00, and for some reason I dont have SPX data on my TS, trying to sort that out now. I would reccomend using the SPX for levels if we break lower.
Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs and summary are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays
Always use a set up based upon your system to enter a trade.
Good trading all
Another historic day is about to unfold. I dont have any futures levels below 837.00, and for some reason I dont have SPX data on my TS, trying to sort that out now. I would reccomend using the SPX for levels if we break lower.
Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs and summary are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays
Always use a set up based upon your system to enter a trade.
Good trading all
Attachments
Hi everyone
I dont have any futures levels below 825.00, I would reccomend using the SPX for levels if we break lower.
Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs and summary are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays
Always use a set up based upon your system to enter a trade.
Good trading all
I dont have any futures levels below 825.00, I would reccomend using the SPX for levels if we break lower.
Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs and summary are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays
Always use a set up based upon your system to enter a trade.
Good trading all
Attachments
Hi everyone
Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs and summary are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays
Always use a set up based upon your system to enter a trade.
Good trading all
Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs and summary are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays
Always use a set up based upon your system to enter a trade.
Good trading all
