I want to add in something that really helped me......funny thing is that it was staring at me for a year or so before I realized it.
I trade currency futures on the CME. Mostly EURO FX. I trade support resistance levels based on pivots. More emphasis on monthly and weekly levels than the dailies.
I use TradeStation and they have this thing called the MATRIX which is simply a fancy order tool. (I'm sure there are many others). The one thing this does is graphically print the volume in the form of bars to the right of the price. I paid this no mind for a long time. Now it is my "Holy Grail" for timing and confirmation of my S&R levels. You can almost always watch the Bell curve develop properly (or improperly) each day. More importantly, if there are gaps in the curve they can be a great place for entries, etc. I was always fascinated with "Market Profile" but it was just too much for me to use in my trading decisions. This is a micro view of it that I use every trading day. It is particularly helpful in identifing true bottoms and tops.
Anyway.... the point is that it was staring me right in the face for a long time. Day after day I watched it. Then one day the old brain turned it into a revelation.
Good trading and I hope this helps someone.
DRT
I trade currency futures on the CME. Mostly EURO FX. I trade support resistance levels based on pivots. More emphasis on monthly and weekly levels than the dailies.
I use TradeStation and they have this thing called the MATRIX which is simply a fancy order tool. (I'm sure there are many others). The one thing this does is graphically print the volume in the form of bars to the right of the price. I paid this no mind for a long time. Now it is my "Holy Grail" for timing and confirmation of my S&R levels. You can almost always watch the Bell curve develop properly (or improperly) each day. More importantly, if there are gaps in the curve they can be a great place for entries, etc. I was always fascinated with "Market Profile" but it was just too much for me to use in my trading decisions. This is a micro view of it that I use every trading day. It is particularly helpful in identifing true bottoms and tops.
Anyway.... the point is that it was staring me right in the face for a long time. Day after day I watched it. Then one day the old brain turned it into a revelation.
Good trading and I hope this helps someone.
DRT
