Indicators are liars! Support and Resistance Trading for the S&P emini
- Thread starter ESResistance
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It's interesting to watch ES respecting these pivot levels even during the overnight session.
I'm curious if everyone is using the bollinger band price & ticket setup, or are people just trading no the levels themselves based on the price action?
I've been playing with the idea of using the BB as well as just using the pivots themselves. No tick in the premarket.
Thats exactly how I trade the premarket myself, the $tick doesnt kick in until around 10am, before then it is useless. The levels and BBs are enough to make highs odds calls, the $tick further increases your odds when it is available.
I do most of my trading in the premarket, Lately I have been reaching my goal long before the session.
I do most of my trading in the premarket, Lately I have been reaching my goal long before the session.
I think I remember reading that you're in the UK but I don't remember. If so, have you tried trading European markets?
I'm in France so trading ES is from 3:30 - 10pm. Not so easy with a family. So in the past I've traded DAX & Eurostoxx 50. I'm not sure if they have the equivalent of TICk.
I'm in France so trading ES is from 3:30 - 10pm. Not so easy with a family. So in the past I've traded DAX & Eurostoxx 50. I'm not sure if they have the equivalent of TICk.
Yes I am in the UK. I have not really done much research into European indexes. However it is something worth considering, I will request the data from TS and keep an eye on them for a while.
G'day ESR.
Is your 825 level an example of your dynamic levels which are defined and re-defined during the day? I can't see an 825 level historically, so I'm guessing you saw the solid bounce off this level at 03:12 this morning and decided to use this level in today's worksheet?
Nice example of early resistance at around 840 becoming support later in the morning.
Go well!
Some advice as well if you would be so kind ESR.....
I had 865.25 as a level on my sheet (from 16 October) which worked well as solid resistance at 08:01 this morning with just 2 ticks of heat and at least 6 points profit. The candle was also well outside the BB when it hit the resistance level.
Please let me know if this would have been considered a good trade before the event, or is there something I've overlooked that means it was just a lucky one..?
Thanks as always!
Preach
I had 865.25 as a level on my sheet (from 16 October) which worked well as solid resistance at 08:01 this morning with just 2 ticks of heat and at least 6 points profit. The candle was also well outside the BB when it hit the resistance level.
Please let me know if this would have been considered a good trade before the event, or is there something I've overlooked that means it was just a lucky one..?
Thanks as always!
Preach
882.25 worked beautifully as well - textbook setup. It's like watching poetry in motion..!! 
It's already Tuesday here and I've got an early start in the morning, so I'll say good night... although I'm too excited to sleep anyway... it's like little light bulbs are switching on every day.
Goodonya ESR, you're a bloody champion!
It's already Tuesday here and I've got an early start in the morning, so I'll say good night... although I'm too excited to sleep anyway... it's like little light bulbs are switching on every day.
Goodonya ESR, you're a bloody champion!
I'm posting an example of the euro, snapshot made a few seconds ago.
I'm curious what others would do.
Would you:
- Short at pink resistance (1.246)?
- Anticipate a breakout and add long above 1.246?
Feel free to add any other choices. I ask because I've nailed some good 3-5 day runs with this, but also I've gotten whipsawed a few times and it's not fun. I temporarily quit trading gold because it's been terrible lately.
In this case the BB are pretty much even so it's not a help. I'm curious what people would do based on the price/volume alone, but if you have any other indexes or indicators you use that could be helpful feel free to mention them. For example TICk. Not sure it's applicable to currencies.. maybe because the Euro is following the indexes..
I'm curious what others would do.
Would you:
- Short at pink resistance (1.246)?
- Anticipate a breakout and add long above 1.246?
Feel free to add any other choices. I ask because I've nailed some good 3-5 day runs with this, but also I've gotten whipsawed a few times and it's not fun. I temporarily quit trading gold because it's been terrible lately.
In this case the BB are pretty much even so it's not a help. I'm curious what people would do based on the price/volume alone, but if you have any other indexes or indicators you use that could be helpful feel free to mention them. For example TICk. Not sure it's applicable to currencies.. maybe because the Euro is following the indexes..
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