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

[ProfLogic]

Quote from juve:

You see it to....

as price was coming down to previous low of 1136'ish the delta was decreasing maybee showing sellers drying up...

then it looks like proflogic covered on DB or Low Failure

nice trade prof

Thanks but for me any failure to make a Resistance HH (on MY trading charts) is just another reason to short toward a retest of the last established Support (on MY trading charts). It's all about the environment each of us trades. Support and Resistance are relative only to the individual charts we trade and watch. They aren't relative to what someone else watches inside the same market.

One persons Support and Resistance is another persons price bar spike.

 

[juve]

I just thought that DB made at 10:26 was why you covered around 10pts.

I guess you could of shorted again at 10:36 considering it never made a resistance HH off the DB

 

[juve]

Just bagged a nice one short at 27.25 covered 1 at +4ticks and the other on at +20ticks

 

[ESResistance]

Hi everyone

Please find attached todays levels.

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

 

[epetrov]

ES,
on what timeframe do you daytrade?

 

[ESResistance]

Quote from epetrov:

ES,
on what timeframe do you daytrade?

I use a 1 minute chart. currently researching sgare bars, but for the moment 1 minute for my trade execution.

 

[JackR]

Quote from ESResistance:
I use a 1 minute chart. currently researching sgare bars , but for the moment 1 minute for my trade execution.

What's sgare? Got a reference?

Jack

 

[forrestang]

Quote from JackR:

What's sgare? Got a reference?

Jack

He probably meant 'share' bars.

 

[ESResistance]

Yes share bars. Typo.

http://video.google.com/videoplay?docid=7065205277695921912

Very interesting viewing. A documentary well worth watching.

 

[JackR]

Quote from ESResistance:Yes share bars. Typo.
http://video.google.com/videoplay?docid=7065205277695921912
Very interesting viewing. A documentary well worth watching.

The Google link seems to be a two hour video about the evils of the fractional monetary system we live under. Do you have a reference to share bars? I can't locate anything.

Jack