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

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Quote from GCSICLRBC:

ES Resistance & I have (ES much more than myself) given all you newbies the best advice you will ever hear in your trading lives.

And it was free.

Buy @ Support; Sell @ Resistance.

And for God's sake: TAKE THOSE RETARDED SQUIGGLY LINES & OSCILLATORS OFF YOUR CHARTS!

When will the small guy learn? (Don't answer that)
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Thank you for your advice.

I have a question. How do you affirm thant the stock trend has changed in the dayly trade? The chart or resistance and supply? Could I get the detail? Thank you.
 
Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

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
 

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Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

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
 

Attachments

Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

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
 

Attachments

Quote from ESResistance:

Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

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
More...

Now that we seem to be back to near normal volatility the numbers seem to be working well. I personally only look for resistance and 874 has been perfect for me today. Do you think that a number with the most confluence is necessarily more reliable?
 
Normal feels amazingly slow after the last few months : )

Thats a very interesting question you have posed, my experience in using S/R over a long period tells me that S/R numbers with confluence do offer higher odds. However the important factor is the quality of the level itself. Has it been used as Support AND Resistance in the recent past, or just support? Is the level supported by the 1hr AND 4hr timeframe?

Sometimes you can get a level with little confluence that has been used as Support AND Resistance and is also clear on the 1hr AND 4hr chart. This is then a strong level, but has little confluence in the way of pivots.
 
Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

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
 

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something to note that allows for 2 good plays with this style. many times after a nice trend or fairly sharp trend, price will bounce just above / below the line. this is usually an area to take a trade. then it usually goes down a bit beyond the last entry (hopefully you exited on time) and hits the line to the tick or a bit over which in turn makes for the bigger of the 2 moves. look for a TL break or a 2b bottom forming. ESR had some good advice and logic behind this
 
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