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support or resistance
- Thread starter trading1
- Start date
Quote from trading1:
Hi Are there any reliable sources for the support and resistance levels on the major indices? Or, even just the European ones. It seems a fairly basic need, yet I can't find much information on the topic. Any comments would be appreciated.
Hi Trading1,
If you trade the EMini S&P 500 you could check out the support & resistance levels at ScalpTrader.com ... but they only do the S&P not all indicies
Hope this helps.
Going out on a limb here:
S/R levels for tomorrow Monday 1/22/07
Res
1444.75-1445.50
1441.75-1442.75
1438.25-1439.75
Sup
1433.00-1434.00
1430.75-1431.75
1428.50-1429.50
These are numbers which i would be looking to trade around on Monday. Will be buying support and selling resistance if certain criteria are met at these levels.
S/R levels for tomorrow Monday 1/22/07
Res
1444.75-1445.50
1441.75-1442.75
1438.25-1439.75
Sup
1433.00-1434.00
1430.75-1431.75
1428.50-1429.50
These are numbers which i would be looking to trade around on Monday. Will be buying support and selling resistance if certain criteria are met at these levels.
I recognize support or resistance levels when I graph random numbers. I suspect support or resistance levels are an illusion.
Quote from Max22:
Going out on a limb here:
S/R levels for tomorrow Monday 1/22/07
Res
1444.75-1445.50
1441.75-1442.75
1438.25-1439.75
Sup
1433.00-1434.00
1430.75-1431.75
1428.50-1429.50
These are numbers which i would be looking to trade around on Monday. Will be buying support and selling resistance if certain criteria are met at these levels.
Your numbers seem good, I would be looking to buy today around 1433 to a move to 1437/9 then next res will be at 1443, above that is 1447. Under 1433 I would watch for the 1424/1 area to hold as first major support.
I did a journal last year where all I did was trade the ES using breakouts of suppot and resistance. I taught people how to find the s/r levels and toward the end we even did a free video where I show how to figure the levels and how to trade some chart patterns. Here is the link to my journal and I hope you find something usefull in there.
BTW, I had that journal for about 6 months and during that time every week was profitable.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=69230
Good reading to you,
Gary
BTW, I had that journal for about 6 months and during that time every week was profitable.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=69230
Good reading to you,
Gary