S/R Emini Journal

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Quote from Lamont_C:

Revisiting your short idea. Given that we're consolidating right here at the PDC, you may have something there after all.
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That, and the fact that there would be 2 points before testing the LOD.
 
Quote from JimmyJam:



Whether it is better or not remains to be seen, but I think it is more consistent for the average trader to look at the previous afternoon session's highest close up vs lowest close down on the 15min candlesticks to determnie potential S/R levels.

Best,

Jimmy
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We have actually been testing the HOD and LOD breakout this past week. Right now I have it at best 72%. But I am still working on it to see if we can get the R/R a little better and still keep the W/L ratio up there.
 
Quote from 4re:

That, and the fact that there would be 2 points before testing the LOD.
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Confession. Took it anyway since it met my requirements, though the trade is a lower probability, given that the consolidation is only an hour long. Made a point. Now I really am done.
 
Bollinger Band Theory Revisited:

This is a 15 minute chart of todays action. With a 15 minute chart you will miss the exact tops and bottoms but you will capture the meat and taters of the move.

This is a very valid method for reversal traders and it doesn't take a lot of education in trading to perform. I really like the 10 minute chart a little better but this chart is so clean I wanted to show it.

Again, practice with this before you use real money. As all trading is easier in hindsight.

4re
 

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Quote from Lamont_C:

Confession. Took it anyway since it met my requirements, though the trade is a lower probability, given that the consolidation is only an hour long. Made a point. Now I really am done.
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Now, I can say it. You were on a roll today. Good job...
 
Quote from bgp:

thanks for all your posting 4re . have a great day!

bgp
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Thanks, I hope you like it and are learning something from it...Hope you did good today.

4re
 
Quote from 4re:

Now, I can say it. You were on a roll today. Good job...
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Hey, if I really were on a roll, I'd've taken the drop below 10.

Not greedy enough :)
 
Quote from 4re:

I hate the pre market. I try not to trade it but when my numbers come up and I am awake I do take them. First trade would have done it for me but I screwed it up. My fault, totally...
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I would advise looking at divergences for reversal signals in your case, starting with 1 min charts and going to 15 minute time frames if your hold period is within that time period.
 
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