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

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Quote from budha:

This is a very valuable discussion for me. I don't know anything about S/R.

Your S level of 1265.50 held nicely during yesterday's session.

I can see how you determined this S level by looking back on 1 hour charts. But how did you determine the other 15 S/R levels? I don't see them when I look back.
How can you see so many different levels?:confused:

Thanks for your posts.
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Hi buddah

What I reccomend is that you get a 1hr chart up and draw the lines, hopefully that will help you gain some clarity.

Support and Resistance is not difficult, its just that most ppl approach trading with the mind set that it has to be difficult and that we have to find something other people dont see.

I say be obvious! The levels that are the most noticable on your chart are the ones that the largest amount of people are watching.

Just entered long at 61.75
 
Quote from ESResistance:

Market went down to 63, just missing the 62.50 level, I had a set up, but was hoping to enter closer to the level. very fast 2 points for anyone that was brave enough to over step the level.

I however was chicken :D

If we go to the 62.50 area once again the odds of success are reduced, I would advise only taking a solid set up based upon your system in that area.
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Am I missing something.

You talk of 62.50 but I do not see that in your confluence for today.

Where should I be looking on your blog setup
 
Quote from jjf:

Am I missing something.

You talk of 62.50 but I do not see that in your confluence for today.

Where should I be looking on your blog setup
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It should be there I posted an area of 61-62.50

I am in the trade right now

Just checked and it is on the list

did you look at this post 09-04-08 11:49 AM

Do you mean the fact that their no confluence number from MP or fibs. I use those as a bonus to boost the odds on the S/R level. They basically tell us when "other" players using those levels step into the market.

I base my trades on the S/R, everything else is just for confidence
 
Quote from ESResistance:

It should be there I posted an area of 61-62.50

I am in the trade right now

Just checked and it is on the list

did you look at this post 09-04-08 11:49 AM
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OK, I see how your blog is setup, thank you.

Specifically what is this area 61-62.5 based upon
 
I am done trading today, I will keep an eye on the market and be in and out please post any questions and I will try to answer in a timely fashion.
 
Quote from jjf:

OK, I see how your blog is setup, thank you.

Specifically what is this area 61-62.5 based upon
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Support and Resistance my friend, please get a 1hr chart up draw the lines and look left and all should become clearer. you need your charts to go back to atleast the 19th of August
 
Quote from killthesunshine:

why quit now we're on a roll! :)
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lol we've made some money, you get green and you get gone!

I'm going to hang around and watch the market. If I see something worth trading I will try to mention it.
 
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