Important TA concept of "support"

Discussion in 'Technical Analysis' started by Scataphagos, Jul 25, 2024.

  1. Notice how the ES bounced @ 5451. On the next dip, bounced at 5456. The green box now defines "support" for this time, good until broken. Later, market dipped into the zone* at 5452.. that was a trading buy simply because it was in the "buy/support zone". THAT'S the type of info Price TA gives. You want more? Sorry, their isn't more. On the follow-thru or break, you have to play that by ear. Price TA shows the "start" of things. (A new start is the end of the previous thing.)

    * Support/Resitance are usually NOT a specific tic, but rather a small zone.

    support.PNG

    FWIW...
     
    Last edited: Jul 25, 2024
  2. maxinger

    maxinger

    For goodness sake, stop teaching/preaching because those are the
    things written by professional writers and not professional traders.

    Simply enter the trade.
    Then mark on the chart your entry price & time, and your STOP.
    Then post the chart right away.
    When your trade is closed due to whatever reasons, you don't have to inform us.
    If you want to add commentary, that's fine. If not, that is fine too.

    After that, we can grade your performance. We can compute
    - your success rate
    - your Reward : Risk ratio


    FWIW
    KISS
    ATB
     
    Last edited: Jul 25, 2024
    VPhantom, schizo, tomas262 and 2 others like this.
  3. 2rosy

    2rosy

    what about the bounces at ~5475 and ~5460 ?
     
  4. If you're asking me... referencing the ES, you need to be more specific... I don't see anything at those levels*... ??

    *Maybe minor "topping congestion at 5475"?
     
    Last edited: Jul 25, 2024
    Darc likes this.
  5. tomas262

    tomas262

    How dare you buy the f dips. Let my puts grow!
     
  6. Coin Flip

    Coin Flip

    So how many ES mini contracts did you buy and how money did you make on this trade?
     
  7. Overnight

    Overnight

    Scat has me on /block now also? WTF!!!!

    OMG this site needs an enema.
     
  8. maxinger

    maxinger

    upload_2024-7-26_12-11-41.jpeg
     
  9. schizo

    schizo

    LMAO. Feeling that constipated?
     
  10. Darc

    Darc

    Might explain his temper.

    Some people get really bent out of shape when you block them
     
    #10     Jul 26, 2024
    maxinger likes this.