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Showing results for tags '[s&r levels]'.
Found 5 results
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Hi there, when a trader puts 200-day SMA indicator on his chart he is probably hoping to see that indicator that market has great respect for, but not all traders see the same exact thing. That is because some are using 40 week SMA, some have 6 trading days in a week... and readings obviously differ. OK-ey, the difference isn't zillion pips, but still... it might be quit important for those who use daily MA's as possible entry/exit signals. This issue is of course also related to trend lines, channels, etc. What I wanted to ask is how do you cope (if you have to) with issues like this? In other words.. do you consider only what you see or also things that others might see?!
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Hello, here I am going to look on possible technical (support and resistance type only) reasons that could have helped to have anticipated recent eur/usd retrace right where it was (I am talking about the retrace that started on 17.09) Market had rallied sharply and came into price zone where it had stayed for 15 weeks (end of January - end of April), however none of those obvious horizontal resistance levels were reached and price decided to retrace right away. So.. how one could anticipate retrace right there before it started!? So I want to examine reliability (or possible illusion) of 3 reasons that I found. (I went through other charts as well, but I might have missed something too). Retrace from upper channel. Channel lines gets built on recent market bottom, support in late 2010 and resistance on 2012.02.26 (can probably count 2010.10.31 as well). Weekly chart. USDINX - support level. Ok, I like to think this works like following not leading chart, but... price reached significant 5 months old support level.... and bounced off. AUDUSD - resistance................. Price moved into 5 week old resistance level and penetrated it for healthy 10 pips to bounce back. I am not sure for what kind of input I am looking for, but if you feel like you can add some value then go, please, ahead. Good luck. :missy:
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If you've taken a look at the ES Journal at ET, you may have seen the 'rule of 10' mentioned. Someone decided to start a journal about it. This idea has always interested me, but I've never done any research into it. Hopefully the journal will keep up and not die down. It's an interesting premise for anyone wanting to look into it. The premise is rather simple - from a reaction high/low when price goes 10 pts from that level, look for a reversal. Here's how I saw today using the OP's chart: circles = possible reaction zones arrows = actual trades The OP is making the assumption of a 3 pt stop and 10 pt profit target. So the risk/reward is rather handsome. Of course, now the winning % will be the next issue at hand. For today, 8/6/08, I personally saw 2 possible short trades = one failure and one winner. Depending on entries and exits, the day could be a scratch if out at MOC or better if held overnight. This idea has always interested me, so it will be neat to see the OP carry the journal through.
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Each day the ES market creates several reversal points, where price turns as buyers step in and take control from sellers and vice versa. What are the mechanics behind how these reversal points occur? I assume that they are created by large traders who have the deep pockets to change the direction of price, but what, specifically, must happen at these points in order for prices to reverse?
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Hello. Is there anyone who can help me with the number of bars necessary for the calculation of Linear Regression Channels for a daily chart and for a 5 - minute chart. Is there a figure that is typically used for these charts. Thank you, --six
