Indicators are liars! Support and Resistance Trading for the S&P emini
- Thread starter ESResistance
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Time for break.
That was quite a ride started bit after 9:50 to around 10:10 ... bit like white water rafting grade4+ trying not to touch the canyon walls.
Volume...............
Volume is a clock that is constantly running in my mind
ie 20K contracts and the price will still not move..... are we showing LH, HL etc ...
the breakout is going to start from the opposite side of channel, within a tic or two of where my stop will place on a bracket entry ..... my risk is minimal but my reward is somewhere between untouched and increasing ... probably out beyond 7:1 based on past experience.
oops.... we have a failure one tic inside the opposite support line, so brace yourself chicos we are now hot and running.
this is how I treat volume.... it is a constant running clock.
bye bye
regards
f9
That was quite a ride started bit after 9:50 to around 10:10 ... bit like white water rafting grade4+ trying not to touch the canyon walls.
Volume...............
Volume is a clock that is constantly running in my mind
ie 20K contracts and the price will still not move..... are we showing LH, HL etc ...
the breakout is going to start from the opposite side of channel, within a tic or two of where my stop will place on a bracket entry ..... my risk is minimal but my reward is somewhere between untouched and increasing ... probably out beyond 7:1 based on past experience.
oops.... we have a failure one tic inside the opposite support line, so brace yourself chicos we are now hot and running.
this is how I treat volume.... it is a constant running clock.
bye bye
regards
f9
just to continue the ramblings before I melt into the ether.
around 10:31 price hit an old friend (resistance) at 91.25 and despite throwing almost 30K at the adventure it failed at 92.00
Suddenly 8k lifted price to within one tic of 92.00 where a group of shorts were planted and it was driven back 10 tics within a minute.
after more than 20k of going nowhere it made a base at 88.75 and pushed up a few tics beyond 92 where it currently sits under a roof at 93.50 ( do not get excited by extreme tic values ie 94.00
regards
f9
around 10:31 price hit an old friend (resistance) at 91.25 and despite throwing almost 30K at the adventure it failed at 92.00
Suddenly 8k lifted price to within one tic of 92.00 where a group of shorts were planted and it was driven back 10 tics within a minute.
after more than 20k of going nowhere it made a base at 88.75 and pushed up a few tics beyond 92 where it currently sits under a roof at 93.50 ( do not get excited by extreme tic values ie 94.00
regards
f9
A good (profitable) pure PA trader can see the volume in the price without any volume inputs.
Mark
Mark
I actually quite like share bars. playing around with them at the moment. Interesting debate guys.
I absolutely agree.Quote from NihabaAshi:
A good (profitable) pure PA trader can see the volume in the price without any volume inputs.
Mark
also... a good trader can see the ticks play out without using a tick chart.
Can he say he does not use ticks?
Can he say tick chart is useless?
I have watched profitable PA traders in action... And I can tell you they read volume for sure. i.e. they were doing Volume Analysis in real time!
edit: Only the "holier-than-thou purists" would deny and belittle volume analysis. ;-)>
Yeah...nothing wrong with volume analysis.
If someone needs it to make consistent profits...
Keep using it.
However, there are some profitable PA traders that don't need it because they can see the volume in the price itself without the inputs.
Simply, some need inputs to see it while others can see the same information without the inputs.
I've used volume in the past...
Works great.
However, I no longer need it because I have a better understanding of the price action today in comparison to the past.
Yet, undeniable, the prior volume knowledge had a positive impact in that today I don't need it on my charts.
Further, in contrast, my experience is different from yours in that most (not all) of the PA + Volume users at ET are the ones that do the belittling and pretend it's the ONLY way to make consistent profits.
Analogy - Some toys require batteries...
Some don't.
Mark
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