Yes. Thank you! I find this discussion quite intriguing because it looks like we both subscribe to a very similar philosophy. I am curious as to how you handle the 4hr SR lines (I use them too.) Do you prefer to play those tight as well? Or do you mainly focus on the 1hr lines, and use the 4hr lines as "general areas."
Hi everyone Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information. Always remember to use the numbers as a guideline for potential areas of high probability plays. Always use a set up based upon your system to enter a trade . Good trading all
The higher up the TFs you go the more meaningful the level...essentially more people will be able to see that level and it will have a stronger effect on the market. For instance if you start looking at daily swings and you find a level that is prominant on the daily, 4hr and 1 hr level, short, medium and long term traders will be watching that particular level. The noticable areas on a 4hr chart are also noticable on a 1 hour chart, because they are noticable on 2 major TFs imo they tend to be the stronger levels, for a day trader the 1hr chart is a must. In answer to your question I like to try and be as specific as possible even on the 4hr, where that is not possible at most my range is 1.5 points. hope that helps ESR
Hi guys Getting some reports of people not recieving my morning email in a timely fashion. I have been getting lots of "delayed message" reports on googlemail, so changes will need to be made to the email provider I use, I think google has reached its limit. Apologies for the problems, not my fault, however I do post the levels on ET at the same time.
Hi everyone Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information. Always remember to use the numbers as a guideline for potential areas of high probability plays. Always use a set up based upon your system to enter a trade . Good trading all
When the market gaps in the morning and breaks through resistance 1 and 2 do you play the market towards the downside or continue with the strength?
Hi everyone Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information. Always remember to use the numbers as a guideline for potential areas of high probability plays. Always use a set up based upon your system to enter a trade . Good trading all
You have to gauge market strength in strong up/down markets. In instances of news centered (citi group, up tick rule) the market gathers mega bullish momentum that is almost vertical in direction, Resistance is at most an area where the market pauses. In this circumstance (and other occasions too) I use my "dynamic" S/R which is the 20 MA on the 1 min chart, and focus on support levels to catch retraces to follow the market up. The trend is your friend as they say... Adaptability is key...The market is a constantly changing beast, and your day to day adaptations have to be almost Darwinian.
Hi everyone Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information. Always remember to use the numbers as a guideline for potential areas of high probability plays. Always use a set up based upon your system to enter a trade . Good trading all