This thread is not a vendor review so I am going to walk lightly on this subject. I am, however, a Support and Resistance trader. I humbly recommend anyone so interested to give Pam Ludwig's levels a trial. The chart speaks for itself. I am not a vendor nor am I affiliated with her in any way so I have nothing to gain. http://www.ludwiglevels.com/index.html
I wrote this in my personal written journal last year:
April 30, 2011 I want to join Pam Ludwig's room. Unfortunately she raised her rates from $150 to $225. That $75 jump knocked me out for now so I'll have to go solo until I can get enough money to join her room. I think it will be worth it. I tried Rick Vinecki's room and hated it. I wasn't interested in joining- I just wanted to see how he read the Market Profile charts. It was mainly about trading high volume nodes on the 30min. I didn't see much success in it.
May 17, 2011 Pam Ludwig closed her trading room! That is a tragedy and a shame. Pam is/was an awesome educator and trader.
Last edited by Aragorn; August 24th, 2012 at 10:07 AM.
1.3040 is the area of a market reversal. The USD is at major support at 79.370. Let's see what happens. Unfortunately I missed my fill at 1.3036 after it confirmed on the rejection. Played it too tight. Dangit. Hit my entry but didn't fill me.
This was what I was looking at on the USD and where the 79.370 came in. It was the last line in the sand and it came in the area at the same time that the 6E was at a Resistance level. If you look at the screenshot from earlier up in the right corner you'll see that the red line says 1.3039 and then you'll see a blue line a bit higher. The price of that blue line was 1.3040. It was perfect storm scenario.
This is where the title of this thread comes from. The 6E follows the USD beautifully.
Last edited by Aragorn; October 4th, 2012 at 02:33 PM.
The following user says Thank You to Aragorn for this post:
Since it's been a while since I've added to my own post I thought today may be a good day to start it back up. And what better way to post the most recent chart of the 6E. This is a Range chart. I then look at the way price responds around those levels on a 250 Volume chart. Buy on strength (buyers) sell on weakness (sellers).
Nine hours ago I posted the Crude chart that showed 90.76 as a level the market could react at. The Market went to 90.74 and so far has rallied to 91.20.
I once heard someone advise to not trade the over night session. This is nonsense. Support and Resistance knows no time. It's possible that their charts or their method just sucks.