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For one thing you need data for the ES, not bigcharts data. It's not price going through those levels it's the volume traded at price at the end of day one looks at. To see where the most volume occurred. If looking above existing price then where does all that volume start? Right now the chunk of volume starts at 1340, that's where possibly one would start to see resistance , if any If not, then it's not resistance. It's not 1340 is the middle of yesterday's action , I only look at volume traded at price. Regarding pivots and fib's, I won't even go there........
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Ok, point taken. I didn't realize you only looked at volume by price, and not the "normal" volume...
My point about pivots and fibs was that I don't believe they could provide resistance. Sorry if I didn't quite make that clear.
I tend to look at swing points primarily. Like yesterday price tried to go higher but failed twice at a level where it had already failed before (1347-1349). The other place are the lows, around 1332-1335, as price first made a potential selling climax there and later reversed of there again (but not very far) it would be my guess that these levels are important. Perhaps I've completely misunderstood the concept of support and resistance, but that's what I used to do last year and it seemed to work fine then
