Trading support/resistance

this thread is going to be very subjective.

Some people that trade fibs, pivots, "natural s/r", indicator based s/r (over-bought/ over-sold levels) are all going to have a different view of s/r making this hard for you to grasp.

lets do a little test. here is a chart for SYNA daily. I've marked my s/r points..now watch as everyone else on this board will mark s/r differently. :p
 

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Quote from cashmoney69:

this thread is going to be very subjective.

Some people that trade fibs, pivots, "natural s/r", indicator based s/r (over-bought/ over-sold levels) are all going to have a different view of s/r making this hard for you to grasp.

lets do a little test. here is a chart for SYNA daily. I've marked my s/r points..now watch as everyone else on this board will mark s/r differently. :p
More...


Your simple, horizontal line is the BEST PLAY on the entire chart!

A resistance broke....later became support.

Fibs, Pivot points, etc. ARE NOT S/R TRADING.

S/R trading is found from ORGANIC MARKET ACTION. I.e., "the chart."

Sometimes a bright fellow will PM me something to the effect of "You know what you're talking about...could you tell me a little more about your approach; I'm having a tough time."

And I share freely. Courtesy gets you far in this world.

There are many people who can't see the forest for the trees.

Just like Churchill admonished:

NEVER TEACH A PIG TO SING.
IT WASTES YOUR TIME & IT ANNOYS THE PIG.

When I explain to a non-pro that straight lines can be your best friend, the point is often lost. I've taught a lot of pigs to sing...

It's hardly worth the trouble.

Anyone have thoughts on teaching pigs to sing?

ANY PIGS HERE? Of course not; this is ET. Everyone here is an aspiring fund manager, right?

--H
 
Quote from cashmoney69:

this thread is going to be very subjective.

Some people that trade fibs, pivots, "natural s/r", indicator based s/r (over-bought/ over-sold levels) are all going to have a different view of s/r making this hard for you to grasp.

lets do a little test. here is a chart for SYNA daily. I've marked my s/r points..now watch as everyone else on this board will mark s/r differently. :p
More...

My variant of SYNA S/R analysys. It really differs from your, but what I try to tell you is that it's not so important.
I beleive your S/Rs also work. Not in 100% cases sure. And here, in this thread we try to find out how to trade S/R however they are built.
 

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Quote from superbull:

...Since we are interested in entry points, it's not so necessary to separate trendlines from s/r levels...
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Quote from cashmoney69:

this thread is going to be very subjective...

lets do a little test. here is a chart for SYNA daily. I've marked my s/r points..now watch as everyone else on this board will mark s/r differently.
More...

Quote from superbull:

...And here, in this thread we try to find out how to trade S/R however they are built.
More...

Ok...so via the above the quotes, this thread isn't about s/r levels so much about itself due to the fact that s/r analysis (the assigned levels on the chart) are different from one trader to the next even though we agree that what the other one is using is s/r levels.

Therefore, this discussion is about entry signals at s/r levels.

That's easy, many threads here at ET about entry signals.

Take the chart examples from this thread that you've posted so far...

http://www.elitetrader.com/vb/attachment.php?s=&postid=2443913

http://www.elitetrader.com/vb/attachment.php?s=&postid=2443890

http://www.elitetrader.com/vb/attachment.php?s=&postid=2418136

Do you see the commonality in your own charts?

(hint: look at the left side of your charts)

I do and it's a commonly known chart pattern and based upon your 3 chart examples so far...it obviously is the price action that initially catches your eye.

With that said, here's a list of entry signals I've seen discussed here at ET by traders that use S/R Analysis as a primary trading approach...

* Volume Divergence

* 3BR

* AHG Method

* Japanese Candlestick Analysis

* Dragon Pattern

* Bid & Ask Analysis (DOM)

There's many more entry signal discussions with s/r analysis of past months and years at the below link in the technical analysis section.

http://www.elitetrader.com/vb/forumdisplay.php?s=&forumid=33

Mark
 
Quote from GCSICLRBC:

Your simple, horizontal line is the BEST PLAY on the entire chart!

A resistance broke....later became support.

Fibs, Pivot points, etc. ARE NOT S/R TRADING.

S/R trading is found from ORGANIC MARKET ACTION. I.e., "the chart."
--H
NEVER TEACH A PIG TO SING.
IT WASTES YOUR TIME & IT ANNOYS THE PIG.
More...
If you don't want to teach a pig to sing, please don't go to the Zoo next time.

Looks like you are "terminology victim", at least, in this thread. I admit that thread really went aside from it's title.

But I clarified how I use s/r.

We can discuss how you people build s/r and how you trade it.
 
Quote from NihabaAshi:

Ok...so via the above the quotes, this thread isn't about s/r levels so much about itself due to the fact that s/r analysis (the assigned levels on the chart) are different from one trader to the next even though we agree that what the other one is using is s/r levels.

Therefore, this discussion is about entry signals at s/r levels.

That's easy, many threads here at ET about entry signals.

Take the chart examples from this thread that you've posted so far...

http://www.elitetrader.com/vb/attachment.php?s=&postid=2443913

http://www.elitetrader.com/vb/attachment.php?s=&postid=2443890

http://www.elitetrader.com/vb/attachment.php?s=&postid=2418136

Do you see the commonality in your own charts?

I do and it's a commonly known chart pattern and based upon your 3 chart examples so far...it obviously is the price action that initially catches your eye.

With that said, here's a list of entry signals I've seen discussed here at ET by traders that use S/R Analysis as a primary trading approach...

* Volume Divergence

* 3BR

* AHG Method

* Japanese Candlestick Analysis

* Dragon Pattern

* Bid & Ask Analysis (DOM)

There's many more entry signal discussions with s/r analysis of past months and years at the below link in the technical analysis section.

http://www.elitetrader.com/vb/forumdisplay.php?s=&forumid=33

Mark
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That's helpful, thanks.
 
I prefer momentum trading, but as far as gess the S/R swing trade based upon that at uptrends (e.g. daily charts) the supports are more likely not be broken in one timeframe bellow (e.g. hourly charts). And vica versa for downtrends.

So trade in the direction of main trend only with tight stops (using sl to protect false breaks based on recent false break moves in points), and let the market stop it out for profit (trailing SL).
 
Quote from GCSICLRBC:

Fibs, Pivot points, etc. ARE NOT S/R TRADING.


--H
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They are if price reacts to those levels. Which is very very common by the way. Thats why those tools exist.
 
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