Some Other Trading Material
- Obama Fake Tweet Hack Scare Explained
- I Don't Believe Trading is a "Numbers Game"
- When To Make Decision On a Trade
- When Trading Futures - Never Move Your Stop
- Tips Trading the TF - 5 Point Increments
- First Hour High and Low
- Predicting the Emini Future
- Trading the TF Tips
- Trading the ES
- SP 500 Futures More
- Emini Futures Day Trade Log
- Unrealized Vs. Realized
- Overnight Trading Vs. Regular Session Trading (Good Idea or Bad Idea?)
- E mini Index Futures Tick Values and Symbol Description
- Emini Futures Day Trade Plan
- My Futures Trading | Best Times To Trade
- Managing an Emini Futures Trading Drawdown
- Emini Futures Month Symbols
- New Closing Emini Futures
- Practice With Mini Micro Futures and Trading Emotions
- Tick Up - Definition
- Specific Whole Numbers For Trading Support and Resistance
Emini First hour lows and First Hour Highs
Remember when trading futures (primarily Russell futures) to keep the first hours high and low plotted. Use these levels through the day as areas for which price may look to retest and act as magnets or simple S/R. I tend to decipher between the upper range and the lower range of these levels. What do I mean by this?
Split Support and Resistance Into Halves
I simply take the 50% retracement of these levels to split this range into a lower and upper. This helps guide me when determining strength and weakness. I look for price to display traits that would lead me to believe that we head to the low or to the high. The most typical trait I look for is the weak bounce. It goes without saying that if you begin to see weak bounces you will not see strength.
Don't get married to Exact Support and Resistance
Of course like anything else price may hold to the tick at these levels or peak through slightly to clear out traders. If I'm really unsure of what may happen I may look for a fake out break out or any other possible scenarios that may give me the best risk reward area. It's important just as any other material you have seen on here to not over complicate it. Determine how you want to play it and place your self in the best risk reward opportunity.
Refining Entries and Exits Support and Resistance
The TF futures in my opinion can always be traced back to the activity of the S&P 500 futures though not as strong as in the past. Your main concern when looking at the levels we spoke of before is that we aren't fighting pivot points on the S&P 500 futures though there are cases when we want to be looking for price to capture pivots.