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

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Havent posted in a while. As far as the (block) trades discussed earlier, it is used with the Time&Sales Level 2 data. It is usually called the modern day Tape. It is great for calling false breakouts as you can see when institutional buyers/sellers are really hitting the market and when it is just "dumb" money moving it. It is great when you place a trade and as it approaches the immediate s/r line seeing the big blocks entering. I have a block filter of 100+ set on it. I know a guy who has a scalping system he uses that really is based around t&s reading only. It is a skill to learn and takes some time. I suggested it to ESR so he can really gauge when price is going to bounce off his S/R lines especially counter trend. I have such a hard time taking countertrend trades because I can't usually take one with confidence. I use a variation of ESR's method with price action that Anek uses.
 
hi xburbx
can I pick up the blocks using level 1 times and sales? what are the info that level2 have over level 1 T&S?
If you could kindly post a pic of the level 2 T&S, that wld really helpful.

PS: I am using Thinkorswim level 1 T&S
 
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
 

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Hi,ESResistance
I am a freshman.I am interested in your chart.But I don't very clear that which stock or index you are depicting. Can you tell me in detail. Thank you. Good trading today.
 
the t&s should just be a list of orders that print to the second. they will fly through your screen in a long column usually from 25-75 lines long depending on your settings.
 
Quote from cf0532:

Hi,ESResistance
I am a freshman.I am interested in your chart.But I don't very clear that which stock or index you are depicting. Can you tell me in detail. Thank you. Good trading today.
More...
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oh,i know , it is $% spx.
 
Quote from tdl138:

hi xburbx
does this looks like a level 1 or level 2 to you?
I set the filter to 100
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Yes, that is it. See if you can set a block filter on the ES for 100. Not sure what chart software you use either. Havent seen that ts before
 
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
 

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ES Resistance & I have (ES much more than myself) given all you newbies the best advice you will ever hear in your trading lives.

And it was free.

Buy @ Support; Sell @ Resistance.

And for God's sake: TAKE THOSE RETARDED SQUIGGLY LINES & OSCILLATORS OFF YOUR CHARTS!

When will the small guy learn? (Don't answer that)
 
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