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i was reading what someone posted on another thread about s/r not working - here is part of the post
[ cunparis,
I disagree with you 100%
Indicators are great. I highly recommend everyone embrace them. Forget S/R, it's quack nonsense.
I have been trading for many years and I can tell you S/R is meaningless and it just doesn't work.]
well, im not sure that i would believe s/r doesnt work - i trade with silvestor17 and this morn before the open we exchanged our s/r levels - this is what i gave him
1113.75 1107.00 critical level
1101.00 1091.25 critical level
1081.25
the levels not in bold are minor levels
go look for yourself and see where the market found resist and support this morn on the es
my point is - i believe you should use all the tools available to you and s/r is one of them - after all , price previously turned there for a reason
and here is a pic of the tf's s/r for today - im using a beta s/r on the tf - nice retrace on support
Silvester17
Columbus, OH
Market Wizard
Experience: None
Platform: NT 8, TOS
Trading: ES
Posts: 3,603 since Aug 2009
Thanks Given: 5,139
Thanks Received: 11,527
and I can confirm that. still have the email.
TheWizard
Houston, TX
Market Wizard
Experience: Intermediate
Platform: NinjaTrader
Broker: Optimus Futures, AMP, CQG
Trading: 6E
Posts: 1,731 since Jun 2009
Thanks Given: 517
Thanks Received: 4,224
I agreen S/R should be an important part of anyone's trading imo. You don't have to search for it. It's just there! You can see it. It's obvious.
After all, it's what you learn AFTER you know it all, that counts!