Not sure if I am correct on a Dynamic S/R but I had my S/R marked at 964.25 and it got blown away and bounced closer to the .5 fib at 62.75. Is it safe to say, that the 62.75 is probably an entry worth taking if there is a retrace towards it instead of the 964.25? I am attaching the chart I saw this on. You can see price shoot through my line and then I take a trade later in the screen that come outside the BB and hits the 62.75.
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Indicators are liars! Support and Resistance Trading for the S&P emini
- Thread starter ESResistance
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Dynamic S/R? I have only referred to the 20 MA as "dynamic S/R" is that what you mean?
S/R is constantly evolving throughout the day, with levels broken and new levels being formed. 62.75 was the globex (overnight) low formed shortly before the open. It worked pretty nicely soon after the open. The most recent behaviour of the market in that price area is the most important and relevant. S/R areas are essentially areas where many traders are "trapped" where Supply outstrips demand and vice versa. They are areas of high emotion and thus remembered.
Thanks for your email earlier, its good to hear you are doing well with this. I am really enjoying receiving emails about how well you and others are doing. In reply to your question, trading can be easy IF you are stacking the odds in your favour as we are.
We only take trades in S/R areas
We only take trades when we have a set up in those areas
We manage our trade to give us good risk to reward.
S/R is constantly evolving throughout the day, with levels broken and new levels being formed. 62.75 was the globex (overnight) low formed shortly before the open. It worked pretty nicely soon after the open. The most recent behaviour of the market in that price area is the most important and relevant. S/R areas are essentially areas where many traders are "trapped" where Supply outstrips demand and vice versa. They are areas of high emotion and thus remembered.
Thanks for your email earlier, its good to hear you are doing well with this. I am really enjoying receiving emails about how well you and others are doing. In reply to your question, trading can be easy IF you are stacking the odds in your favour as we are.
We only take trades in S/R areas
We only take trades when we have a set up in those areas
We manage our trade to give us good risk to reward.
Quote from xburbx:
Not sure if I am correct on a Dynamic S/R but I had my S/R marked at 964.25 and it got blown away and bounced closer to the .5 fib at 62.75. Is it safe to say, that the 62.75 is probably an entry worth taking if there is a retrace towards it instead of the 964.25? I am attaching the chart I saw this on. You can see price shoot through my line and then I take a trade later in the screen that come outside the BB and hits the 62.75.
Would this 64.25 area be an example of the last post you just had? An area that passed over my S line and as you can see in the pic, it already bounced off of 64.25 creating the S in that zone which has the .5 fib at 62 and the PP at 63.75. It would put it in the zone and a good candidate to wait on a shoot out from the BB.
Hi everyone
Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays.
Always use a set up based upon your system to enter a trade
.
Good trading all
Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays.
Always use a set up based upon your system to enter a trade
.
Good trading all
Attachments
S/R can be formed in any timeframe, however the higher the timeframe the stronger the level. If its a level that can be seen on a 1hr chart it should have a higher chance of working than a level created on a 1 min chart. This is where confluences help us so much. If you have a level derived intraday from a 1min chart that also has S1 and a fib nearby your probabilities increase.
Its a numbers game! We want the odds stacked in our favour before we enter.
Its a numbers game! We want the odds stacked in our favour before we enter.
Quote from xburbx:
It seems like the S/R levels seem to set themselves in short time frames within the designated zones and then trades can be made of of that by timing a BB extreme. not sure if i am off base
Quote from ESResistance:
S/R can be formed in any timeframe, however the higher the timeframe the stronger the level. If its a level that can be seen on a 1hr chart it should have a higher chance of working than a level created on a 1 min chart. This is where confluences help us so much. If you have a level derived intraday from a 1min chart that also has S1 and a fib nearby your probabilities increase.
Its a numbers game! We want the odds stacked in our favour before we enter.
So will you use the fibs, s1 etc as a zone with your own S/R line and then look for things like extremes outside the BB for a setup in that zone? Or do you just plot your 1 S/R line and look to react only to that line?
Quote from ESResistance:
Hi everyone
Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.
Always remember to use the numbers as a guideline for potential areas of high probability plays.
Always use a set up based upon your system to enter a trade
.
Good trading all
Thanks for it.
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