Real Time Price Action- Clue to Puzzle?

[erierambler]

	Quote:	zeon
	Okay, fair enough. I can definitely see price reacting to that level: there's a rise in volume and the bar closes off the highs. But this probably happens all the time when price approaches resistance, because it's very likely that other traders are seeing this area as resistance too. If I may ask, do you focus only on the ES? or do you look at other things to?

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

[erierambler]

	Quote:	erierambler
	Price may waffle here and still continue upward later on. erie

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

[DbPhoenix]

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

I know you don't follow the NQ per se, but you may be interested in today's blog entry.

[zeon]

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

No offense meant, but that's easy to say now that the markets are closed... How did you evaluate this during the day in real time?

[erierambler]

	Quote:	zeon
	No offense meant, but that's easy to say now that the markets are closed... How did you evaluate this during the day in real time?

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

[erierambler]

Here's a sample of what I look at to find s/r in the futures ( YM, ES, and NQ are in chart Futures ), the others are marked specifically. Since they may move differently day to day, eventually they come in line as you can see on the charts. I don't follow the NQ so I marked where Db is looking for potential support.
erie

[DbPhoenix]

	Quote:	erierambler
	Here's a sample of what I look at to find s/r in the futures ( YM, ES, and NQ are in chart Futures ), the others are marked specifically. Since they may move differently day to day, eventually they come in line as you can see on the charts. I don't follow the NQ so I marked where Db is looking for potential support. erie

Actually, it looks arbitrary without the box (all the context charts are posted in my blog). And it's been a confirmed S/R line since the end of January.

[erierambler]

All I've got is 1320 and 1340 for tommorrow. Anyone else?
erie

[erierambler]

	Quote:	DbPhoenix
	Actually, it looks arbitrary without the box (all the context charts are posted in my blog). And it's been a confirmed S/R line since the end of January.

Would you agree that the line on the attached chart is important?
erie

[DbPhoenix]

	Quote:	erierambler
	Would you agree that the line on the attached chart is important? erie

I'd look at it this way:

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As for tomorrow, I may do an ES day for my last day. The numbers will be 23, 30, 40 and 48, for starters.

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