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

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Quote from jjf:

Is there any way that you could post your trades live together with the stop.

EST time would be very helpful.

thanks
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The first few trades I took on the thread I took live, commented on the trade as I took it, managed it and exited. Its difficult to do that whilst managing the trade, I try to....but the reaction of price at the levels and the set up needs quick decision making and I cant do that and post at the same time.

I post you my levels this should be a clear indication of where and when I am trading. When I have the time I will post my set ups.

I am short right now from 31.25
 
Quote from ESResistance:

The first few trades I took on the thread I took live, commented on the trade as I took it, managed it and exited. Its difficult to do that whilst managing the trade, I try to....but the reaction of price at the levels and the set up needs quick decision making and I cant do that and post at the same time.

I post you my levels this should be a clear indication of where and when I am trading. When I have the time I will post my set ups.

I am short right now from 31.25
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ESResistance,

What is the old saying, "Give and inch, and they'll ask for a mile..."?

Speaking from experience, don't bother. You've done more than enough. Thank you for these levels and your postings. Both have been very helpful.
 
Quote from johnpinochet:

ESResistance,

What is the old saying, "Give and inch, and they'll ask for a mile..."?

Speaking from experience, don't bother. You've done more than enough. Thank you for these levels and your postings. Bother have been very helpful.
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Amen.
 
31.25 got broken at the open, it was used heavily in the premarket, with its strength diminishing with each time it was used.

27.00 was hit on the nose with an excellent setup providing an amazing run up.
 
Quote from NihabaAshi:



S/R can be tricky just like indicators...many different ways to change it, plot it and unecessarily plot too much on a chart.

Someone there decided to keep track and concluded there were 17 different types of mathmatical calculations and 25 different ways to visually plot your s/r levels.
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I can see how people could plot too many S/R levels on a chart, but can't fathom how there could possible be so many different ways to visually plot S/R levels. There's obviously going to be variability depending on the time-frame of the chart, and the use of lines vs bars/candles, but surely even a 10-year old could be taught to competently plot S/R levels?

I thought that was the whole basis for S/R zones, as a confluence of all the small interpersonal variations in determinining precise levels?
 
Quote from Neoxx:

I can see how people could plot too many S/R levels on a chart, but can't fathom how there could possible be so many different ways to visually plot S/R levels. There's obviously going to be variability depending on the time-frame of the chart, and the use of lines vs bars/candles, but surely even a 10-year old could be taught to competently plot S/R levels?

I thought that was the whole basis for S/R zones, as a confluence of all the small interpersonal variations in determinining precise levels?
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Its easy to complicate a concept as simple as Support and Resistance with our innate human desire to "improve" and "evolve" things and make them "better" I know a few traders who use compicated calculations and formulae to "calculate" S/R levels. Many of these people are successful, but their really is no need for that imo. My success with S/R levels has been based on that fact that I go for obvious levels and try my best to keep things simple.
 
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