YM Traders

Just an interesting observation.

I don't use any fancy data feeds or premium software like Ensign, E-Signal etc. I just use the simple charting that comes with IB TWS. What I do periodically is go back 1 month (the max time) and draw horizontal lines at major, obvious swing points. Then I do the same for 1 week, then 2 days, 1 day and 4 hours.

Time and time again, horizontal lines that I drew days and sometimes weeks ago act as support and resistance. Frequently this is within 1-2 ticks.

This just never ceases to amaze me, how support and resistance are real.

I just observed this a couple of times today on YM and it prompted me to say something.
 
We have come up 500 points without a single day you could call a down day. If we don't see one tomorrow with expiration, it most likely will happen on Monday IMO.
 
Quote from stevegee58:

Just an interesting observation.

I don't use any fancy data feeds or premium software like Ensign, E-Signal etc. I just use the simple charting that comes with IB TWS. What I do periodically is go back 1 month (the max time) and draw horizontal lines at major, obvious swing points. Then I do the same for 1 week, then 2 days, 1 day and 4 hours.

Time and time again, horizontal lines that I drew days and sometimes weeks ago act as support and resistance. Frequently this is within 1-2 ticks.

This just never ceases to amaze me, how support and resistance are real.

I just observed this a couple of times today on YM and it prompted me to say something.
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Very interesting post!
 
all days are tradable .........today was beautiful.......each day is beautiful........trading and otherwise..........go with the flow..........YM never disappoints........it goes up...buy...it goes down sell....it goes sideways, buy and sell and buy and sell until it goes up again or down again...............if u sell and it is going up u r gambling..........trend is your friend? or enemy? if u r not 80% plus it is ur enemy...........
 
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