erierambler

I didn't, LOL, all I did today was buy support and sell resistance,(according to my levels which were posted ahead of time ) what happened afterwards I watched . I mentioned to you about resistance being made at start of day, we had that conversation. You know I thought price would waffle and rise again, but it did the opposite. All the more reason for me to take the first trade and don't do any more until I get a good handle on this. One trade prevents me from making a mistake. Lots of days there is no trading at all. And no offense taken. This is serious stuff. I want to improve and move from swing to intraday, one step at a time. It's already been a while Zeon. erie

Looks as if there were more sellers at resistance than buyers at support erie

Price may waffle here and still continue upward later on. As far as looking at other things, yes, but mainly in the evening. I look at the YM and the NQ, small caps, sectors (XLE, etc.) , new highs, new lows, volume of advancers, volume of decliners. erie

1346 is where price stopped going up today, so far the high for today. It is where price recently turned . That's what real time is all about.One can't see that until it happens. Don't worry keep it up and you will get it......But that doesn't mean price will stop there, it is only potential resistance. erie

Support is at 1332........... resistance is now at 1346.... forget 1337. erie

No , I think it's more important to note where price opens , in regards to yesterday's close, there is a lot of price above us here right up to 1358. erie

Ok, looking at your figures, why 1347? The others I can see your point as they are reasonably close to mine and one has to allow for a difference in eyesight erie

The 1320 is an important area from earlier on ( you can go back to previous posts and see the charts as well ) The 1332 area, look at the chart, from back to early March the area above the 1332 was an area of price rejection , this may now be potential support. The overnite action is on the chart from previous days and I look at my levels the night before. erie

1320,1332,1340, and 1358. chart attached...... erie

As you can see from my previous post I don't have a s/r point where you took your long entry. It would have helped if you posted your pre-analysis before hand. I also don't watch volume intraday , nor news, can't figure out which one is important anyway so I just watch price. erie

No experimenting here, I 've been using " volume at price " for a long time now on my charts every day. Not sure what "volume range" means and I've never come across that language. erie

1332,1348,1358,1375 on attached chart. erie

Your scenerio doesn't hold water for the set-up, that's the beauty of defining your play, look for high probability set-ups that occur with frequency and accuracy.( at s/r ). They will fail if they are not at s/r. To give an example of a target, one could use previous reaction highs/low, close, open, levels of s/r, trendline break, avg. range etc. Keep looking at charts and see what you see........ depends on where price is as well, congestion, trending. erie

And I should add that just because price is at one of these levels , doesn't mean there is a trade there, or one should take a trade there, there has to be a defined set-up that occurs..... enough of my chattiness today. erie

Without getting into the way I trade, if you are watching price action at these levels you don't need very big stops at all. Let price action tell you if you are wrong, otherwise, when and what must price do to prove you wrong? It really becomes very simple. Also there may always be some sort of penetration, and one must be available. What I do right now as I'm getting into day-trades is I just take one trade if I can in a day and analyze the rest of the day. For example yesterday one trade (short) and then I thought price would stay up since I didn't see any real big selling in the morning ( I thought price would just coil ) . Then comes a trend day down. Since I got my trade I don't care what happens after , but I still have lots to learn , identifying opportunity. hope that helps... erie

That's part of learning , you can't be right all the time, it's what you do with your experience and what you take away from it........ erie

Levels for tommorrow and chart attached: 1260-1270 1284-1290 1320-1333 This reminds me of my father saying that for anything in life one has to work for it......as to people who are gimmees......gimmee, gimmee never gets....... good trading all....... erie

Pretty good figures, I'd say , good habit for preparation. erie

Then our conversation is pointless, sorry I tried to answer , I am not interested in anyone's use of indicators and stay away from those threads, why on earth would I? As to real-time I don't trade springs, so that doesn't apply either, other's may. good trading to ya... erie

Obviously if you have to ask , you haven't done any work on this . It's not for everybody. I'm surprised there is not more interested. Good trading. erie

Levels for Tues. 1260-1270, 1297, and 1320. Fed day this afternoon. erie

Levels for ES on Monday , happen to be on the even numbers 1320, 1300, and 1280. Chart attached. erie

On the ES , I'm looking at 1338, 1319, and 1309. I'm going to be away from my home computer for the rest of the week, will only be able to check in from a remote computer in the early mornings. Back on the weekend. Good trading all..... will be following along.... erie

You'll find the $TICK , will work for the S&P , and the NYSE is like a barometer for the S&P. erie

Now there is a decrease in new lows , except for Indu, trans and a few sectors. Unfortunately I'll be away from the computer this morning and will miss the action. erie