Some food for thought when trading Es... Instead of looking to properly define s/r levels that will hold up, why don't you look for prior lows on a 30 min or 60 min chart that are previous demand, wait for the market to blow under this area so buyers get stopped out, and shorts start covering, and you enter well below this demand area. Its contrary to what most people do, but its a way of trading in 'value' and gives you the potential to catch a big move and add to your position if a nice trend starts to develop
¿How to properly spot S/R?
- Thread starter PAAddict
- Start date
E
Erin
it becomes your decision what is a good level to liqidate
Imo, many of you guys are deluding yourselves with bias regarding straight trend lines.
Below is an annual representation of CL futures (cash no different).
How many straight trend lines can you see?
Those which you can see are like animal figures in the clouds, largely a result of coincidence.
Is there any regular features you could bank on with those imaginary straight trend lines - No!
If every man and his dog trading CL is looking at trend lines, do you think the majority are going to be profitable? No! The majority of retail traders with simple known TA concepts are losing money.
Below is an annual representation of CL futures (cash no different).
How many straight trend lines can you see?
Those which you can see are like animal figures in the clouds, largely a result of coincidence.
Is there any regular features you could bank on with those imaginary straight trend lines - No!
If every man and his dog trading CL is looking at trend lines, do you think the majority are going to be profitable? No! The majority of retail traders with simple known TA concepts are losing money.
1. Price is just as likely to reverse prior to breaking support.
2. Short covering is demand so I guess what you are trying to say is compare the short covering (buying) to buy stops (selling). Again, I don’t see a lot of value in this either.
E
Erin
The thread was started by Paaddict to discuss SR, it is neither here nor there if you like it or not. You would be hard pressed to find two traders with identical trading habits and likes but it is always interesting to read what others are doing. Why not show traders what you do like to use as your method in trading - instead of saying I like this or I do not like this - it does not say alot
Thank you for all your input. I will give it a good read and a lot of study to the charts over the weekend. Please keep it up, I appreciate it very much. I notice the thread is finally attracting trolls, that's part of life. I mainly ignore and block most people. So please don't stop sharing because of that.
I’m just trying to save you time and energy. You’re being fed a pile of b.s. by a fat guy in his underwear. No real trader would come on here and take up your cause. TRUST ME.
E
Erin
It sounds like you are unhappy...maybe lost an account or several. Most traders have. As I said before Im just adding to the chat - so why so angry. The BtcUsd trade on the 10 min tf last night won immediately.
Yeah them pesky trolls with a different opinion, I too hate my theories being questioned
