ES Journal Archive (2009 - 2010)

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Since we are in an uncharted territory on the downside, it is getting tougher to determine the support level. The method I'm using is trendline/channel line plus some measured move. I'm wondering what other method people are using here.

For example, today the support level on my chart based on trendline is 671-672, based on measured move is 669-670. So 670 area is a area of confluence for support.
 
Quote from swing-scalper:

Since we are in an uncharted territory on the downside, it is getting tougher to determine the support level. The method I'm using is trendline/channel line plus some measured move. I'm wondering what other method people are using here.

For example, today the support level on my chart based on trendline is 671-672, based on measured move is 669-670. So 670 area is a area of confluence for support.
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Have you calculated S1 ?
 
Quote from vertigo3:

swing-scalper,
can you post a chart showing your lines.
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This is the trendline chart for ES. Notice I use constant-volume instead of time based chart for multi-day trendline. Each bar is V50,000. Adopt the Anek way.
 

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would you get the same support area if you used the lows of the bodies of your candles (as opposed to the shadows, the downside wicks).
 
Quote from candles:

short - looking for 20 points or so
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closing some here for 6 points - may get a little bounce which i will short again looking for a much much bigger down move.
 
Quote from vertigo3:

would you get the same support area if you used the lows of the bodies of your candles (as opposed to the shadows, the downside wicks).
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There will be a slight difference. I guess this is why technical analysis is never pure science.
 
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