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

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Its amazing how things change...a couple of years the average daily range on the ES was around 10 points, yesterdays range was 92.75 points!

This market is a high octane, drugged up to your eye balls roller coaster.
 
Quote from ESResistance:

Hi everyone

Please find attached todays levels.

Etc
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You keep posting this stuff all the time. Isn't price, as often as not, simply resisting support while not supporting resistance? The intraday swings are there to play each day (ie CL,ES,YM) and don't need any confusion, huh?:cool:
 
Quote from ProfLogic:

Here is the 16807 S&P Constant Volume Bar Chart.
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Hi PL,

are there defined rules for the large blue arrows, or do you just interpret the histogram visually ?

Thx.
 
Quote from Marsupilami:

Hi PL,

are there defined rules for the large blue arrows, or do you just interpret the histogram visually ?

Thx.
More...

The BIG arrows I put on the chart and that is just to visually show the areas of entry based on the histogram changing colors (oscillating). The exact entry or exit comes after the histogram oscillation and is a bar-by-bar execution.

The little arrows are where the Trading Oscillation labels first printed.

The step-by-step trade set up is:
PPF (Physical Price Failure) LH where the target is a Breach LL or
PPF (Physical Price Failure) HL where the target is a Breach HH
& then
Histogram Oscillation (color change) at a specific extreme level (Prime+)
& then
Price Bar/s Failure
& then
Price Confirmation Bar immediately following Price Bar/s Failure
& then Entry is taken on the open of 1st bar following Price Confirmation Bar

Exit is taken on first Oscillation of either Histogram or Ergodic (line indicator) that is against your trade direction . . . or
in the case of Swing Trading longer term charts . . .
Stops are adjusted off the high or low (depending on trade direction) of each day until trade is stopped out profitably.
Initial Stops for Swing trading are taken from the last oscillation resistance or support level (depending on your trade direction).

Strength of Chart is determined by the specific Trend of that chart. The computer program reads that Trend and posts it in the upper right corner of the indicator. Yes, I taught the computer to read the specific trend of any chart it is applied to by objectively defining the term "Trend" in real-time.

Trading Oscillations (oscillations on the price portion [top] of the chart) are computer generated in real-time as well.

Shorts in a Bear Trend will play out better than shorts in a Bull Trend. Longs in a Bear Trend will not play out better than longs in a Bull Trend but either are acceptable once you can determine the level of risk attached to each trade oscillation. This is how I use Trend . . . as a sign of strength or weakness only on a specific chart.
 
Quote from ProfLogic:

The BIG arrows I put on the chart and that is just to visually show the areas of entry based on the histogram changing colors (oscillating). The exact entry or exit comes after the histogram oscillation and is a bar-by-bar execution.

The little arrows are where the Trading Oscillation labels first printed.

The step-by-step trade set up is:
PPF (Physical Price Failure) LH where the target is a Breach LL or
PPF (Physical Price Failure) HL where the target is a Breach HH
& then
Histogram Oscillation (color change) at a specific extreme level (Prime+)
& then
Price Bar/s Failure
& then
Price Confirmation Bar immediately following Price Bar/s Failure
& then Entry is taken on the open of 1st bar following Price Confirmation Bar

Exit is taken on first Oscillation of either Histogram or Ergodic (line indicator) that is against your trade direction . . . or
in the case of Swing Trading longer term charts . . .
Stops are adjusted off the high or low (depending on trade direction) of each day until trade is stopped out profitably.
Initial Stops for Swing trading are taken from the last oscillation resistance or support level (depending on your trade direction).

Strength of Chart is determined by the specific Trend of that chart. The computer program reads that Trend and posts it in the upper right corner of the indicator. Yes, I taught the computer to read the specific trend of any chart it is applied to by objectively defining the term "Trend" in real-time.

Trading Oscillations (oscillations on the price portion [top] of the chart) are computer generated in real-time as well.

Shorts in a Bear Trend will play out better than shorts in a Bull Trend. Longs in a Bear Trend will not play out better than longs in a Bull Trend but either are acceptable once you can determine the level of risk attached to each trade oscillation. This is how I use Trend . . . as a sign of strength or weakness only on a specific chart.
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Hey PL, I'm new here and therefore do not know history of everyone here. Is this a program you wrote or is it something available from some vendor. Is there another thread where you go into more detail about what each of the above mean and how it is used?
 
Quote from Insearch:

Hey PL, I'm new here and therefore do not know history of everyone here. Is this a program you wrote or is it something available from some vendor. Is there another thread where you go into more detail about what each of the above mean and how it is used?
More...

This isn't my thread so I don't want hijack it. The previous explanation of the trade triggers are about the most detailed I've posted.

This thread will give you all of the generals to it:
http://www.elitetrader.com/vb/showt...ight=Volume+bar
 
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