I draw long term lines on resistances and support levels using the Price Alert feature of Ninja Trader. I use this for just an intraday possible trade setup. While I was not able to short 2764 yet, I do have a limit order to get short there if we get back up to that price before trading ends for the day. So I see that market is not able to get above this line that I previously set a price alert for on a previous day.
I was able to get long on CL during a pullback and my target was hit before my stop today. I trade more during the night and wake up late during the day or I would have been also able to short ES.
Thanks, looks like we may be talking different time frames. I don't see an obvious reason to be short long term.
For ES 2747 is my support level line. If we get back down there I would be looking for a trade long. However, I don't just place trades at these levels, I need to see price action. So for example if price hits this level I would get an alert. So then I look. If price just blasts right through the level I would not trade it. Also, right now I am removing my limit short order and will just see what happens if the alert is triggered.
Yes on $TICK, check some of my postings from the early 2000s and Yes on using different symbols to trade the ES. I am not sure this is as simple as it used to be but you have the resources to take advantage of it. http://indexarb.com/index.html