ES chart patterns

Discussion in 'Index Futures' started by billsafari, Dec 7, 2011.

  1. Looking for some advice on some relevant patterns to look for such as wedges, pennents, etc or any other tips that may help.

    I need some help recognizing good entry points.

    I always like to hear other peoples thoughts.

  2. spd


    If you subscribe to chart patterns, ES chart patterns wont be different than any other security's chart pattern .
  3. pay attn to daily and intraday support and resistance levels, and you'll find your entries and exits
  4. Chart patterns and entry points are different. For example, a wedge pattern is not an entry signal although it's a component of a trade method. Instead, chart patterns tells a trader to start looking for an entry signal that may occur in that wedge or pennant pattern.

    Thus, you looking for chart patterns or you looking for entry signals that others are using to "signal trades" in those chart patterns. ?

    If you don't understand, lets pretend you like pennants and your entry signals involve Japanese Candlestick signals that occur within the pennant pattern. Another entry signal may involve volume breakouts of the pennants.
  5. Good trade entries are like good sex. They require a good opening.
  6. Your are correct. I am actually looking for both entry signals and patterns.

    I just want to hear about what other people use and any techniques they may help.
  7. ammo


  8. the1


    Trading patterns on the ES simply will not work. The instrument is far to random for such a rudimentary strategy. Think of the competition you're trading against, using highly sophisticated algo's to trade with. You need to be able to compete with that and patterns won't do it.

  9. What would you recommend? I am looking for some good info on understanding price action.
  10. ammo


    #10     Dec 8, 2011