Haha you couldnt be more right there.
Im intrigued by the way you might use buy-sell volume, do you have any screen shots so I can get a gauge?
Thanks
Indicators are liars! Support and Resistance Trading for the S&P emini
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Haha you couldnt be more right there.
Im intrigued by the way you might use buy-sell volume, do you have any screen shots so I can get a gauge?
Thanks
Buy-sell can be a bit tricky to read. I will see what I can come up with for screen shots and pm you. I will try to post a chart with your zones marked and the buy-sell on a 5min es chart. you can see what you can make of it. I find understanding the sequences price follows as it goes through each traverse and only taking these s/r setups when volume in the current trend is slowing helps avoid more shirts in that closet.
Attached chart for today. I find the volume a better guide than the buy-sell but included both. Delta(buy-sell) in lower pane.
The key IMHO is knowing when a sequence(traverse) is ready to end near a S/R zone. Would be more than happy to discuss this if there is any interest. I hope to go through more of this thread tonight. Hope to find others posting charts.
FWIW here is a link to a cool crosshair tool. Helps to line up bars on a static chart opened as a picture file.
http://www.mlin.net/CrossHair.shtml
Interesting. What about market delta would show you a possible reversal in these charts? I see where the turns are, but I cant seem to figure out the signs of volume combined with volume delta that signal a possible turn. Any specific moves in that chart you think are a good example?
Currently I don't look at Delta, I have the pane shrunk to where it is not visible. ESR was curious how it looked so I posted it. I've seen it plot quite differently depending on the data vendor too.
I find delta much harder to read than volume so I dont use it.
The trend of volume as price approaches or goes through S/R levels is way more valuable to observe. The sloped lines above the volume bars should capture more attention than the delta.
Is a retrace just a retrace or the begining of a new trend?
So for example, if you see a decrease in vol at a support point, then you may have a better chance of a reversal to the long side. However, if you have high vol near that point, you would have a better chance of it breaking.
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
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
The NQ
The YM
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