How to set targets using PP, S1, S2, S3, R1, R2, R3 - Traders Hideout | futures io social day trading
futures io futures trading


How to set targets using PP, S1, S2, S3, R1, R2, R3
Updated: Views / Replies:760 / 5
Created: by rizabbasi Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

How to set targets using PP, S1, S2, S3, R1, R2, R3

  #1 (permalink)
Trading Apprentice
Karachi
 
Futures Experience: Intermediate
Platform: None
Favorite Futures: Oil
 
Posts: 1 since Aug 2015
Thanks: 0 given, 0 received

How to set targets using PP, S1, S2, S3, R1, R2, R3

Hi,

This is my first post here

How I can derive the following by using daily PP, S1, S2, S3, R1, R2, R3:

* LONG / SHORT signal
* BUY / SELL range
* Stop Loss
* BUY / SELL target range

Looking forward and thanking you in anticipation.

Regards,

Riz

Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Sydney, Australia
 
Futures Experience: Intermediate
Platform: Sierra Chart, IRESS
Broker/Data: IB, IQFeed
Favorite Futures: ES, SPI, ASX stocks, options
 
Posts: 399 since Jun 2015
Thanks: 169 given, 446 received



rizabbasi View Post
Hi,

This is my first post here

How I can derive the following by using daily PP, S1, S2, S3, R1, R2, R3:

* LONG / SHORT signal
* BUY / SELL range
* Stop Loss
* BUY / SELL target range

Looking forward and thanking you in anticipation.

Regards,

Riz

In before you get annihilated.

Answer is you can't, you have to watch the reaction to those levels, if they even mean anything (which I don't think they do).

Reply With Quote
 
  #4 (permalink)
Trading Apprentice
Chicago
 
Futures Experience: Intermediate
Platform: Tradestation, Ninja
Favorite Futures: es
 
Posts: 15 since Jun 2010
Thanks: 4 given, 12 received


rizabbasi View Post
Hi,

This is my first post here

How I can derive the following by using daily PP, S1, S2, S3, R1, R2, R3:

* LONG / SHORT signal
* BUY / SELL range
* Stop Loss
* BUY / SELL target range

Looking forward and thanking you in anticipation.

Regards,

Riz


Unfortunately this isn't possible in a vacuum as you suggest, but if you learn to read price action and context of the market chosen, then you can derive how and when to place a buy or sell signal, the expected target, stop loss, etc.

Reply With Quote
 
  #5 (permalink)
Elite Member
Leeds UK
 
Futures Experience: Intermediate
Platform: FXTrade
Broker/Data: Interactive Brokers, CapitalSpreads, Oanda
Favorite Futures: GBP/USD
 
Tymbeline's Avatar
 
Posts: 401 since Apr 2015
Thanks: 894 given, 486 received

Also, appreciate that even if you've seen selected examples suggesting that price behaves in some kind of "set/predictable patterns" around those levels, (a) that's anecdotal evidence only and they may have been specifically selected for the purpose of making them look like good examples (selection bias), and (b) "random line theory" can also produce spectacular examples of prices behaving in certain ways at certain prices (this thread will help you: https://futures.io/traders-hideout/7364-random-line-theory.html ). Be careful what you choose to believe in!

Reply With Quote
 
  #6 (permalink)
Trading Apprentice
Chicago
 
Futures Experience: Intermediate
Platform: Tradestation, Ninja
Favorite Futures: es
 
Posts: 15 since Jun 2010
Thanks: 4 given, 12 received


Tymbeline View Post
Also, appreciate that even if you've seen selected examples suggesting that price behaves in some kind of "set/predictable patterns" around those levels, (a) that's anecdotal evidence only and they may have been specifically selected for the purpose of making them look like good examples (selection bias), and (b) "random line theory" can also produce spectacular examples of prices behaving in certain ways at certain prices (this thread will help you: https://futures.io/traders-hideout/7364-random-line-theory.html ). Be careful what you choose to believe in!

Something I didn't mention but was alluded to in my previous post, is that reading price action may allow you to find areas that could produce a reaction, i.e. support or resistance. These areas then may offer an edge, no matter how slight, to permit an astute trader to profit from them. Lines by themselves are just lines and have no relevance. The pivot levels you mentioned may or may not produce a reaction, but the slight benefit is that a lot of traders are using them and causes a self fulfilling prophecy around them sometimes. So reading price action around levels and the context in which you are reading it is more important than the levels themselves...

Reply With Quote

Reply



futures io > > > How to set targets using PP, S1, S2, S3, R1, R2, R3

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Which is more profitable? Small targets or medium/large targets? moneypenny Psychology and Money Management 4 February 15th, 2014 07:51 PM
A Wall Street Fit for C-3PO and R2-D2 kbit News and Current Events 0 April 19th, 2012 11:06 PM
Pivots S3 and R3, are they the limit for the day? sam1197 Traders Hideout 5 August 5th, 2011 04:56 AM
S1, S2, R1, R2 emini_Holy_Grail Traders Hideout 7 February 13th, 2010 09:47 AM


All times are GMT -4. The time now is 04:05 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-11 in 0.10 seconds with 19 queries on phoenix via your IP 54.226.113.250