Important TA concept of "support"

Scataphagos

Scataphagos

Notice how the ES bounced @ 5451. On the next dip, bounced at 5456. The green box now defines "support" for this time, good until broken. Later, market dipped into the zone* at 5452.. that was a trading buy simply because it was in the "buy/support zone". THAT'S the type of info Price TA gives. You want more? Sorry, their isn't more. On the follow-thru or break, you have to play that by ear. Price TA shows the "start" of things. (A new start is the end of the previous thing.)

* Support/Resitance are usually NOT a specific tic, but rather a small zone.

support.PNG


FWIW...
 
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For goodness sake, stop teaching/preaching because those are the
things written by professional writers and not professional traders.

Simply enter the trade.
Then mark on the chart your entry price & time, and your STOP.
Then post the chart right away.
When your trade is closed due to whatever reasons, you don't have to inform us.
If you want to add commentary, that's fine. If not, that is fine too.

After that, we can grade your performance. We can compute
- your success rate
- your Reward : Risk ratio


FWIW
KISS
ATB
 
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2rosy said:
what about the bounces at ~5475 and ~5460 ?
More...

If you're asking me... referencing the ES, you need to be more specific... I don't see anything at those levels*... ??

*Maybe minor "topping congestion at 5475"?
 
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Scataphagos said:
Notice how the ES bounced @ 5451. On the next dip, bounced at 5456. The green box now defines "support" for this time, good until broken. Later, market dipped into the zone* at 5452.. that was a trading buy simply because it was in the "buy/support zone".
More...

So how many ES mini contracts did you buy and how money did you make on this trade?
 
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