Here is a pic of what i mean about, picking a spot and then finding an entry technique. Some people use smaller time frames and develop an entry...
I think this statement is very important in trading with the trend. The key is finding that resistance spot in a down trend during the retracement...
Hi Anek, Thanks for posting. I had a question as to some entries. I posted them on your chart. Thanks Max
Hi tv, I do it the same way, but since it is kind of subjective, i tend sometimes to wait to long and find myself missing a lot of good trades....
Hi tv, Do you have cetain criteria that triggers the trade once price hits an s/r level. It looks like Susana uses a retrace/pullback after a 3br...
I forgot to clarify one thing. The PA at a s/r area that will tell you to take action will be a 3BR, or Matching High/Low formation. Max
Amit, Here is a chart to try and explain an answer to your question, by what "i" think Susana means by her post. I thought it was a great post...
obviously that one didnt work out.
Trend is down and we are running into resistance and the price action is giving a 3br , this look s like a short play.
Time to Cover
I gues reversing was the right play.
Came off that Res into an area of S, maybe trends are changing and time to reverse, or take profits.
Is This what you mean by Prior Supprt Now Resistance, and PA tirggering a Short on the 3BR?
I am very familiar with Mike's work. If you like PM me and I'll try and answer any questions.
For Wed res 1442.75-1443.50 1439.00-1440.00 1436.75-1433.75 sup 1433.25-1433.75 1429.50-1430.25 1427.00-1427.75
Good article on s/r. Thanks for posting that. Once s/r levels are known, the next step would be to establish entry and exit techniques to take...
Levels for Tuesday 1440.75-1441.50 1438.50-1439.00 1435.25-14736.00 1427.25-1428.00 1423.00-1423.50 1419.50-1420.25
Well I guess the Res level worked out , support not so much.
Going out on a limb here: S/R levels for tomorrow Monday 1/22/07 Res 1444.75-1445.50 1441.75-1442.75 1438.25-1439.75 Sup...
Trading around reports is personal choice, I was just pointing out a resistance area that worked out.
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