Does anyone know if there is a site where I can get the support/resistance levels for the e-minis.s&P I do all my my own "homework" and would like to compare my levels with those of other sites that are out there. I am not interested in any sites that require personal info (eg. credit card) for their "free trial" Does anyone out there know of some of the better sites to check?
burnin, All those sites do their homework also. What I mean is this...they are computing their numbers differently from each other. Thus, couldn't you simply do your s/r levels differently to come up with a different set of numbers? For example...couldn't you base your info on yesterday's H, L, C. Do another set based on yesterdays H, L, C and today's Open. Do another set based on the average of the H, L, C for the past 2 trading days. That's mainly what many sites are doing...just using different ways to come up with numbers. Heck...if your a mathmatician or into math...you can really come up with some fancy computation for s/r levels. My favorite s/r levels are based on Japanese Candlesticks. I've seen sites do s/r levels based on price moving averages, elliott wave analysis et cetera. Many different ways you can do it yourself and not be dependent upon a website. Now...what may set one site different from another... is their method of how to use those s/r levels for trade signals. NihabaAshi
try this site for pivot #s patterntrapper.com He has the calculations, they work pretty good. You can put them into a spread sheet. Pete
burnin how do you use your levels? provide a chart if possible. P.S. given the average level of sharing on ET i dont expect a satisfactory reply.
Your question is so wide ranging that I cant begin to answer. There is no Holy Grail to levels. Like any trader that attempts to use technical analysis I attempt to look at everything: volume past support/resist fibonacci candle/bar formations tlines/channels All basic stuff. any good technical book will cover Its not an exact science. Nothing always works - likely setups dont always present themselves the same way. I use the levels as a road map, and thats all. Sorry not very revealing, but if you do your own "homework", I'm sure you'll have found all of the above to be helpful and true. My question remains: Any good sites out there with these levels.
RSI best tool for Support/Resistance THAT'S MY OPINION<g> It's a basic indicator in any reputable charting program. It gives best signals bar none especially in the hands of a novice. Don't take my word for it....try yourself. Best Luck, ~j Here's an example: 60min DJI mini futures Watch the indicator when crossing 50 >greater than < less than 50 keys to success. http://share.esignal.com/groupcontents.jsp?folder=&picture=0923ym.png&groupid=225
Have you tried website or personal web space links by other ET members. Some have posted such links in the past... For example...Awash posts daily s/r levels, pivot info...freely... http://home.houston.rr.com/aarondwashington/ You could pm or email him for more info. He also has a trade journal here... http://www.elitetrader.com/vb/showthread.php?s=&threadid=21214 NihabaAshi
here is a link for the pivot points......enjoy http://www.elitetrader.com/vb/showthread.php?s=&threadid=21377
Do what you are doing on the chart duration that you trade. Then do this: For example, I will assume you max out making money on ES and do up to 20 trades a day. This would put you in the 5 min chart usually and occassionally on the 1 min. to get the S/R for this type of trading do this fro perspective. Go to the dailychart Put in the long term threndline channels for ES03Z. You get to see why the S/R is calculated daily by most people. Just take the S and R off that chart and put it away. Now go to the 60 min chart and add the right IT trend lines of the IT trends in the long term channel. This set of envelopes shows you a non S or R that you saked for but these IT channels give you the sentiment within S and R for your intraday trading. What you trade intraday is the short term trends, congestion, and breakouts during the day. As you say S and R are not useful for trading (making money) but it is nice to see what the "free" sites are giving away. The most expensive site provide real hard excellent info on how to get every nickel out of the market. Work towards getting enough profits to afford having a super support team feeding you.