ES chart patterns

Quote from the1:
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Trading patterns on the ES simply will not work. The instrument is far to random for such a rudimentary strategy. Think of the competition you're trading against, using highly sophisticated algo's to trade with. You need to be able to compete with that and patterns won't do it.
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Not sure if I'd fully agree but partially true. Everyone sees things a little different. IMO the patterns are not as clean but since they are only a guide, they can still serve that purpose but keeping in mind the unique aspects of ES vs other markets.
 
Quote from the1:

Trading patterns on the ES simply will not work. The instrument is far to random for such a rudimentary strategy. Think of the competition you're trading against, using highly sophisticated algo's to trade with. You need to be able to compete with that and patterns won't do it.
More...

Chart patterns like the ones the OP gave as examples are not trade signals. Simply, of course they don't work as such. :D

Yet, to make them useful, they must be used with a trade signal that does work to be able to compete with the "few" that are profitable or borderline profitable while trading the S&P 500 Emini ES futures.
 
Hi Bill,
Since you're a new trader, stay away from cash trades right now- I strongly suggest that you explore other techniques , and some of them you will understand and 'connect ' with right away- these ones
you should explore in detail. Stay away from the quick fix, quick buck
strategies. They only make a quick buck from the seller- sorry but that's true.
I know , I've been down that road; don't want to see a smart new trader fall into that trap.
But if you're careless- you deserve to lose your money.
Cheers,
G.
 
Quote from Greg88:

Hi Bill,
Since you're a new trader, stay away from cash trades right now- I strongly suggest that you explore other techniques , and some of them you will understand and 'connect ' with right away- these ones
you should explore in detail. Stay away from the quick fix, quick buck
strategies. They only make a quick buck from the seller- sorry but that's true.
I know , I've been down that road; don't want to see a smart new trader fall into that trap.
But if you're careless- you deserve to lose your money.
Cheers,
G.
More...

Who said I was a new trader? I have been trading stocks and options for 11 years. I just recently added the ES. I know plenty of chart patterns, etc. I was just seeing if I can learn something new. If I could gain one ounce of new info from 100 or 1 million posts i'll take it.

I'm always looking to improve and I always like to hear what other traders are thinking or doing.
 
Ok, great Bill. My error. You 're like me. Always
constantly learning and pushing the limit.
Great to hear someone else always wanting
to improve.
Cheers,
G.
 
look for these on a daily or multiday chart for support/res, targets we are approaching,r watch em for awhile,it will become obvious..just noticed i had already posted this earlier ,i'll leave it up for the current chart
 

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Quote from ammo:

look for these on a daily or multiday chart for support/res, targets we are approaching,r watch em for awhile,it will become obvious..just noticed i had already posted this earlier ,i'll leave it up for the current chart
More...


Why is there a ledge on that bottom boob? Bad boob job?
 
Ammo- It seems that your chart is too full of information.
What focus can you derive from your chart ?
Fortune Teller- I guess someone had to be smart about that
' B ' -pattern ; but seriously don't you find that MA's and
retracements are the simplest of signals ?
Cheers,
G.
 
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