Has anyone heard about tothetick.com company? They sell support and resistance zones indicator for futures. I would appreciate your feedback about them? I attended their webinar and they were quite persuasive trying to entice you into buying their support/resistance level indicator.
Why do you need some indicator. Indicators doesn't tell you what to do. They are only a consequence of the price action. If you can not read the price action, you wouldn't use the indicators. Therefore, If you can read the price action, the indicators are pointless.
With ES, it is sometimes difficult to read price action, maybe because I am just beginning. It is so volatile! In addition, tothetick says it developed "turning point" indicator. Supposedly, it tells you where to buy. It is pretty expensive and the guys seem pretty new, but their statistics look pretty impressive.
http://www.mypivots.com/dailynotes This is a free website for these levels so there is no reason to pay for this information.
You can go to freestockcharts.com and add pivot points to price history. Won't cost you a dime. Here's a chart.
of course, you still will have to learn how to read and use S&R. But good luck. Many here swear by S&R, but it will not necessarily make money on its own. It is more a way to read about entries, exits and managing your trade based on price behavior, in concert WITH your strategy
Thanks! I guess tothetick.com won't get my money! I didn't know I could obtain these support and resistance lines for free.
Of course they're free. They're free because you'll find that they won't help you become any more successful than you already are.