Stock charts overlay program?

Discussion in 'Trading Software' started by tomkat22, Dec 22, 2022.

  1. Real Money

    Real Money

    Last edited: Dec 22, 2022
    #11     Dec 22, 2022
  2. Classic example of Price TA... ES today.PNG

    From the 3800 low, the market was bullish up to 3920... higher highs, higher lows, supports holding on dips.

    At 3920, market made "several" attempts to break above, but was met with repeated "resistance". Any technician should have seen this, and known to at least protect long profits and NOT chase upside until 3920 had cleared.
     
    Last edited: Dec 22, 2022
    #12     Dec 22, 2022
    easymon1 likes this.
  3. easymon1

    easymon1

    What tool determined the placement of the horizontal lines in this chart?
     
    #13     Dec 22, 2022
  4. All had a "support indication" on them while it "weaseled up"... but the one at 3920... that was obvious resistance.
     
    #14     Dec 22, 2022
  5. 1. "Indications" were not added by me. The market formed them as it moved.
    2. The "horizontal lines" only acknowledge what the market did.
    3. In the most strict sense, all you've circled might have been caught... but I wouldn't expect most players to be tuned-in to that degree. Both of your green circles are good... and of course the red one at 3920... which is the biggie and the one most obvious. I was trying to primarily highlight "obvious resistance at 3920". If someone acknowledges that as meaningful, then perhaps they may be willing to accept "less obvious" as also meaningful. (You learn TA by seeing and accepting some/many obvious setups that work... 3920 here is one of those. Then you might also learn less obvious setups which also work.)
     
    Last edited: Dec 22, 2022
    #15     Dec 22, 2022
  6. easymon1

    easymon1

    Imho charts can do the work for us of drawing moving averages and pivs which create boundaries.
    When price arrives at these boundaries, a trader can pay special attention to the action it displays.
    Oftentimes nice obvious moves can emerge.

    HAMMER AT RES 791 mes 5m.png
     
    #16     Dec 22, 2022
  7. easymon1

    easymon1

    Hey man, did you change charting platforms from SC?
     
    #17     Dec 22, 2022
  8. MAs sometimes work as support/resistance... but in general not as reliable.
     
    #18     Dec 22, 2022
  9. easymon1

    easymon1

    I like em. Did you change chart platforms?
     
    #19     Dec 22, 2022
  10. No, I still use Sierra
     
    #20     Dec 22, 2022