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whoops. changed my long add to 75 and have a short add at 111 295/320. ok now i'm ready. :D

For my trading both long and short scenarios are open for tommorow. Just got long with an add in place at 35. Stop and reverse set for 111 310/320.

For the ZN, the long term trend (months-years) was down until the higher low put in around March of this year (check out the weekly chart from mid 2003 on). So on this scale we are now consolidating or reversing, no one can know which. The market is testing the down trendline and appears to...

Roger that. IB just gives the YC quotes but you cannot trade it through IB.

The short term trend is pretty strongly up so I will pass on any short setups today around YH. I would rather stand aside and watch the market tank than lose money on a short today. If a support zone develops intraday I will consider going long there. I am also watching around YL for long...

Thanks everyone for your replies. And I must say, it was an all-star cast of professional traders who replied. There is enough info there for the properly inclined beginner to sit down with Excel and work something really nice out. Anyway I will answer you guys in chronological order...

Click here for S/R trading discussion thread

I trade support and resistance (S/R) by buying S and selling R. I have been thinking lately about some tweaks to my entry methods. I believe I am currently leaning a little too far towards "confirmation" and losing a little too much "entry price". Plus, I find myself being small size for the...

I'm out at 35/320. Plan for tommorow depends on the rest of today.

stop to 35. The market is still in an R zone, it has to hit 8/32 to be out of it.

stop to 15

The market has only had piss-poor pullbacks (PPP) so i'm pretty excited about holding this one to the close. Next stop move will be to 112 15/320 if it remains above 35/320 for a little bit here.

let's see if this bee-atch can break out

My stop is at 30/32. I will cry if I have to stop it there, but my stats show if it retraces that far then we've probably seen the high. Didn't add down low, no pullback to speak of, but i'm looking to add 111 305- 112 range.

Moved my auto-add to 26 but I will add a HrL if it comes first.

Re: today's market. I was just thinking overnight that there is no way I want to be short today. Yesterday was a great opportunity to short and nothing became of it. And now look: a V-shaped rejection of YL on high volume. Actually it is not only YL, but a S/R level going back to 5/11 and...

Hi Flashboy, I found just what Magee said in his book about indexes: S/R levels are washed out compared to individual commodities/stocks. Doesn't mean you can't trade indicies with s/r, but stops etc. are necessarily wider.

I'm long with an add at 25/32 hard stop at 21/32.

someone posted a study over a year ago on ET about what characteristics make a good trader. In this particular study they found "intelligence" was negatively correlated and "conscientiousness" was positively correlated. So the smarter you are the more conscientious you have to be. :D

My R zone for tommorow is 112 35/320 - 55/320 and I certainly don't want to ride back up there with open contracts for the re-test which may or may not come back down. So I have no problem re-shorting tommorow up there, and if it wants to tank right now, bonus.