[crabbydog]

Originally Posted by 86834 »

Most of technical analysis is just a self fulfilling prophecy, meaning that if every man and his dog is looking at a certain level, then it's likely to be important. You want to trade the blindly obviously levels to start with that everyone can see. Don't look for s/r or tiny times frames, look for s/r on the 30min, 60min and daily etc.

If you're new, check out my blog, I made a post yesterday of a list of tips to get you started.

Your blog appears to be invitation only.

[steve46]

What most retail traders call support and resistance amounts to lines in the sand...The truth of the matter is that for any liquid market there are both short time frame and longer time frame participants who have positions in progress and you have institutional participants who not only have inventory in place but usually a group of employees who trade around those positions. Finally each group views risk differently and therefore you have different stop losses in place. The reason I am commenting is because the "conventional view" of support & resistance simply won't get you very far...In my opinion what you need to do is to learn to see areas or "nodes" of supply & demand...These nodes vary in size depending on the time frame and they require that you adjust your orientation from "lines in the sand" to areas of balance and imbalance" (related to order flow)...You can see some of this in my thread "An Institutional Look at the S&P Futures"..

Good luck
Steve

[iTrade357]

86834, tried to go to your blog but it seems that you have to be invited. not sure what you need to invite me but here's my gmail address.... jag357@gmail.com

[Blaiserboy]

Fractals represent supply and demand and serve as great S&R points.

[MCM]

Congrats on not getting into the indicator funk. Free stuff in various places of the internet. Basic supply and demand stuff from Sam Seiden at FxStreet (of some benefit)...also highly recommend spending time perusing the huge amount of free material at medianline.com - it takes S/D to a brand new level.

Good trading