the ES tick at 09:30 is always drawn..it is the main reference line for the day.. previous major S&R levels are a single line..the small box around the line is a band..the idea of the band is to make you aware that the reversal or continuation can happen anywhere in this band..if you try to pick the exact level then u will miss out on many good trades.. of course major news events are important..as price reacts to same..sometimes way too volatile to trade.. personally..i think trading without ALL the charts i have shown is a bad idea..but that is just my opinion !
because it enables you to trade like a market maker does..and..they usually don't lose money once they don't let greed set in ! the essay involves a history lesson coupled with an explanation of why religions developed as they did..ending with..as my old friend Albert used to say.. "most people are stupid" and he should know..as a good few paid him £5,000 for a course held on a canal boat..where he used to tie them up with a rope to teach them about trading WTF
MES: Low Risk Low Funding Low Commissions Ample Liquidity Ample Opportunity Adequate Predictability In Summary = TGTLTGE
Reality: It is only easy when you know how If you keep doing the same thing..you keep getting the same results..positive OR negative In order to change things..one must understand how to change things..dohhhhh! A bad habit can only be changed by replacing it with a good habit There are only 2 golden rules as follows: 1) NEVER put all your eggs in one basket 2) NEVER take advice from anyone else..UNLESS..you fully understand the consequences and EXACTLY how much you can lose if you risk your hard earned money on the advice
i am going to say randomly off the top of my head the 18-May-2021.. the exercise is to post your chart for that day..just one chart for discussion..we will post the charts when there are 4 dates posted..avoid holiday days or half days..you can go back to 52 weeks if you like..not sure how far my phone app goes back but the PC will go back a real long way as i started the exercise my chart post will be last..the last person to post the 4th date will post his chart first..if any more want to join in then go ahead..but if no one puts up their hand before the 4th date then too late..
actually..to make it more interesting..when you post your chart..post the chart for the instrument you trade..or papertrade..and..the chart which you think is the best chart for discussion about the instrument you have chosen..the chart must show the full day of the NYSE for your chosen day..that is..from 09:30 to 16:00 NY Time