Indicators are liars! Support and Resistance Trading for the S&P emini

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Quote from bighog:

ES said:............. Perfect example just now, the 25-26 area got smashed by the NFP report. The market then went back up to that area with a high of 25.75, PREVIOUS SUPPORT BECAME RESISTANCEl and I have just seen the market move lower from that its now at 21.00. Was good for 4 points.

I did not take this trade however because I didnt have a set up and because of the news.

>>>>>>>>>>>>>>>>> So in other words it was ONLY good for 4 points if YOU took the trade. Another paper trader.
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lol I was just using it as an example for the question posed

I wanted to make clear that I did NOT take this trade due to news/lack of set up. However in answer to the question posed I used that area as an example

There are some great people on this forum and on the flip side to that coin their are some very cynical individuals here too.

I am simply trying to help people gain an insight as to how simple trading can be.

Am I fighting a losing battle?
 
in for later.

im posting from my phone now. next week when i have internet in my condo i will post pics and questions and stuff relevent to this discussion... especially with regad to POC, VAH and VAL, if the thread is still going on.
 
Quote from ESResistance:

....Am I fighting a losing battle?
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ES, you have to ignore the cynics..please keep posting those s/r levels and providing the knowledge that you've been providing. It's been very informative for me..Thanks.
 
Quote from NihabaAshi:

With that said, how are you deriving your s/r levels and what are your setups?
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I am having a think about that at the moment, I have 2 main set ups I use, I am going to take some time to document these for everyone in the future.

But for the moment lets focus on the CORE which is support and resistance.

I am hoping in future to extend my ideas and levels to other instruments so that the largest number of people can benefit.

EDIT: Regarding how I define my levels, if everyone just took a moment to google "support and resistance" all will be clear.

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:support_and_resistance

Is an example.

I dont use any fancy mathematics, algorithms, astrology, tea leaves or palmistry. I very simply draw a straight line at bottoms/tops and wicks
 
Quote from ESResistance:

I am having a think about that at the moment, I have 2 main set ups I use, I am going to take some time to document these for everyone in the future.

But for the moment lets focus on the CORE which is support and resistance.

I am hoping in future to extend my ideas and levels to other instruments so that the largest number of people can benefit.
More...

Yes...I understand.

Therefore, how your deriving your s/r levels (math formula, visualization)???

They seem math derived.

Mark
 
Quote from NihabaAshi:

Yes...I understand.

Therefore, how your deriving your s/r levels (math formula, visualization)???

They seem math derived.

Mark
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Please see the edited post above
 
ES

Seventeen pages by my count before the knee trembling accusation of "paper trader" was tabled.

Probably not quite a world record for ET but all in all a personal best for you no doubt.

regards
f9
 
Quote from fearless9:

ES

Seventeen pages by my count before the knee trembling accusation of "paper trader" was tabled.

Probably not quite a world record for ET but all in all a personal best for you no doubt.

regards
f9
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lol

Its a shame, but I guess you have to take the rough with the smooth.
 
Quote from ESResistance:

lol

Its a shame, but I guess you have to take the rough with the smooth.
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ES

Well you could always start another thread and a few of the ETers here could form a peloton and draft you through to eighteen or more pages and on to an assault on the world record.

I am sure you cant be too far off it

regards
f9
 
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