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

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Quote from daveb351:

At the support and resistance zones...watch the Time & Sales for an indication of No Supply or No Demand. The MMs will try to mark the price down or up several times, and if there are no takers...that's a potential pivot.
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There are no MMs in ES, which the OP trades .
 
OP, 5 ticks is a very tight stop in this volitile market, don't you think? Is that a hard stop?

Please consider starting a journal so we can learn from your trading skills now that you've warned us against the dreaded indicators.
 
Quote from ESResistance:



I day trade the ES, I use S/R levels derived from a 4hr and 1hr (no lower) chart mark up my levels and then watch the market as it approaches those levels. Then watch price action in that area and place my trade based upon how price reacts in that area. I have couple of other things I look at but this is the mainstay of my method.
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Excellent way of doing things. Following only the bigger levels can allow you time, to plan ahead. Also you take much less trades. However, you have to be at the screen when the s/r is found, to truly put the probabilities on your side. I also tend to look at support and resistance as zones, rather than an exact price level.
 
I would really like to say, your thread is the best ive read. It is truly a fresh look at trading. i will follow this thread religously and keep up the good work !!!! BTW ARE YOU "ONE OF THE BIG BOYS"
 
Quote from rolextrader:

OP, 5 ticks is a very tight stop in this volitile market, don't you think? Is that a hard stop?

Please consider starting a journal so we can learn from your trading skills now that you've warned us against the dreaded indicators.
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Its a Hard stop and no i dont think it is too tight. If I am wrong on a level the market will tell me instantly when that level has failed, I dont want to hang around waiting for a 2 point stop out and generally speaking if the market wants to break a level it flies through it.

However what I have noticed is that generally speaking if I have a set up at the level I get a bounce of ATLEAST 1 point this is enough to get my first 1/3 filled and thus considerably reduce my risk.

I am UK based and start trading a 3AM EST, as I have said previously I am not glued to the screen all this time, I set up alerts and if the market comes close to my area AND I see a set up I take the trade.
 
72.50 level worked well. Depending on your set up entries between 72.50 and 73.00 were very possible, taking 3 ticks of heat maximum.

I exited at 1270.50 with 2 points on the runner

This short could continue.

The 1268.00 area is another potential area of support I do not believe it is the highest strength area and thus have not posted it. But it is worth taking a look at.
 
Quote from bbqbbq:

what is POC, VAL, etc.?:confused:
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Its Market Profile, I dont know too much about it to be honest, a friend of mine uses it and swears by the 3 MP numbers which mean...

POC - Point of Control

VAH - Value Area High

VAL - Value Area Low

I find them a valuable confluence for my S/R levels, gives you an indication of when "other" market participants are entering the market.
 
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