Support and Resistance Levels

Discussion in 'Technical Analysis' started by HispaTrader, Jun 28, 2005.

  1. Hi All,

    When daytrading the S&P futures using a 5 min chart, I use important pivot points such as the opening price and the previous day's high and low. I also use previous swing highs and lows. Are there other ways of determining reliable support and resistance levels for daytrading? Thanks in advance for your input.
  2. HispaTrader, Have you tried using Fibonacci retracements? I've noticed that often the retracement levels are spot on.
  3. omniscient

    omniscient Guest

    you might want to check out guy's page:

    it's got PP, S/R, Fib data, and a PP and S/R calculator.


    take care -

  4. You might want to include a 20ema. You will be amazed how many times it acts as s/r.
  5. Thank you all for your reply. All good suggestions.
  6. Lucrum


  7. yes.
    support which does not hold is support
    resis which does not hold is resis

    those which hold, you can pretty much ignore

  8. Lucrum


    That isn't enough?
  9. dv4632


    I tried all that stuff and was never able to be profitable as a day trader. The best results I had were when I was using channels and trendlines, but even then I was a scratch trader overall.
    #10     Feb 2, 2013