He doesn't understand how to use them - therefore they are useless.
Brilliant thread contribution.
S&P 500 support and resistance levels, levels identifications
- Thread starter Volfixtrader
- Start date
He doesn't understand how to use them - therefore they are useless.
Brilliant thread contribution.
because nothing is defined or measured for P/S/R. Tell me:
1. what is the precise definition of "hold the pivot"? Can the price go 1 tk through? 2 tks? for how long?
2. what is the precise definition of to "break support"? Can the price go 1 tk through? 2 tks? for how long?
3. of the 5 ways that pivots/support/resistance can be calculated, which one is most accurate for trading? Is there an specific comparisons? If so where?
P/S/R as just part of a family of fixed horizontals that are worthless for accurate trading as none have been measured, quantified or substantiated.
1. what is the precise definition of "hold the pivot"? Can the price go 1 tk through? 2 tks? for how long?
2. what is the precise definition of to "break support"? Can the price go 1 tk through? 2 tks? for how long?
3. of the 5 ways that pivots/support/resistance can be calculated, which one is most accurate for trading? Is there an specific comparisons? If so where?
P/S/R as just part of a family of fixed horizontals that are worthless for accurate trading as none have been measured, quantified or substantiated.
and you don't either. Ignorant thread contribution.
There are 11 rooms with the name Fibonacci or Fib something in their names. Not one trades - at all. Why dig up a dead Italian mathematician, who never traded futures much less spoke English, use his name as part of your room title and then do not trades futures yourself? What a galactic joke; I found this video that tells it all:
Hello Dazz,
Good debate and observation.
What about resistance and support that is established daily and dynamically based on price action? For example, the chart below shows support and resistance on a 3 minute intraday candle chart.
For the trader who sold the triple top resistance level and held, that was decent profit.
So if it doesn't work by all means tell us what does work?
Oh right... You wouldn't know
All good brother. I'd probably be bitter too if I didn't know my head from my ass when it comes to being profitable in trading.
Well since you are best qualified to your head from your ass and are not bitter, do the trader community a big solid:So if it doesn't work by all means tell us what does work?
Oh right... You wouldn't know
All good brother. I'd probably be bitter too if I didn't know my head from my ass when it comes to being profitable in trading.
Answer these questions:
1. what is the precise definition of "hold the pivot"? Can the price go 1 tk through? 2 tks? for how long?
2. what is the precise definition of to "break support"? Can the price go 1 tk through? 2 tks? for how long?
3. of the 5 ways that pivots/support/resistance can be calculated, which one is most accurate for trading? Is there an specific comparisons? If so where?
Don't post pictures - that is for 2nd graders - answer with math - it is a math question.
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Sam Sieden has good stuff on youtube.
Here's a couple of additional lines added to your chart, on the left side.
That purple line is a triple top. Look where that short would have gone via the thick cyan line had the market kept going down.
And then look at where that short would have wound up, via the extended red line, by just holding. Fascinating, yes?
Don't go lower than daily for support and resistance. Just asking for it.