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

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Quote from bbqbbq:

wow, did he give you tips? :eek:
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Ha ha he was a nice guy, really small as I remember. I went to a seminar he was running on Candlestick trading. This was a long while ago when I was first learning to trade. Used every penny I had to pay for it lol
 
hello

a very basic question.
about pivots.
for open and close , what is the time you choose? i.e. close 4.15 p.m?
my soft gives completely strange values, very different from you all.
I went on "mypivots.com" and they give the same value like you.

thanks
 
Quote from ESResistance:

Ha ha he was a nice guy, really small as I remember. I went to a seminar he was running on Candlestick trading. This was a long while ago when I was first learning to trade. Used every penny I had to pay for it lol
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haha, soo seminars can make you more money then trading heh?:p

verdo, 9:30-16:15 is intraday futures
 
There's been some great discussion the last couple pages about watching volume, DOM, etc, but my question is:

What exactly are you guys looking at? I can put on my charts things like Volume At Price, Cumulative Bid/Ask, Volume Delta, Volume Histogram, etc ...
 
Quote from monti1a:

....and once you reach an even higher level in your trading..you realize that there is no ONE way to trade. There are profitable PA only traders, just as there are profitable PA & Volume traders, just as there are profitable traders that don't even look at charts, just as there are profitable....indicator based traders :eek:

The market offers us an unlimited number of opportunities in almost any form if you would just open your mind.
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Maybe Traders who are able to hoover tics from ES every session really just do not care what other people do, attempt to do, or say they do... why should they.

I imagine that these Traders would agree that there is only ONE way to intraday trade and that is with the price waves that form during the session or glbx and never against them (fading entries being the exception)

regards
f9
 
Quote from verdo:

bbqbbq

thanks but todays pivot is 1194.50 in ESr sheet and on mypivots.com.
9.30 15.15 values give 1190.60
so??
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verdo,
I just checked mypivots.com and they show Pivot as 1194.50.

mypivots uses 24 hour high and 24 hour low for calculation.
1190.50 is the pivot based on the regular trading hours.

24 globex
H = 1210.25
L=1180.25

RTH session
H=1199.00
L=1180.25

I run both, using woodie's calc, but you can't rely on just a pivot point price. There has to be some sort of chart pattern too, a swing high, an area of congestion etc.
 
yes vertigo I understand but, when using 24 hrs data, my software gives me 1193 dor the pivot, so my question is : what time do you choose for the close and open?
for the close, my soft gives a last price at 23h25 , is it the good one?
 
Quote from verdo:

yes vertigo I understand but, when using 24 hrs data, my software gives me 1193 dor the pivot, so my question is : what time do you choose for the close and open?
for the close, my soft gives a last price at 23h25 , is it the good one?
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wow, don't know what to tell you.

close should be 16:15 (4:15pm east coast)

some people use the 4:00 close so there is a sync with the cash market

Are you sure there isn't some sort of parameters page for the calculation in your software, some sort of an input to define when the close shoud be taken?
 
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