Sunday, May 17, 2009

My Support and Resistance Levels


Hi guys,
Here are some of the levels I am looking at. I scrunched the chart so you could see further out levels. I also look at the dark blue areas of heavy volume concentration. Note that the bars over 10 days old show thinned data as I only have the tick set to look back 10 days.

I also have a 10 day FPPS and a 20 and 60 day Profile on the chart. They are set up as buttons. I have these so that I can look at the high and low volume areas. I also look for Singles that haven't been filled like at 886 on my Market Profile Chart (not shown). I also track past and current areas of initiated buying and selling on my 30 minute Footprint Chart.

With practice, and this excellent Market Delta software, it gets very easy to track and see these levels.

I hope this gives you some ideas on how you might want to set up your own charts.

Good trading,

MG

2 comments:

  1. Great charting and observations as usual- thanks

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  2. Great quote from Dr. Brett about the action of late:

    "Interestingly, though we're seeing some choppy volatility on a very short-term basis, the volatility on the day time frame has lessened. That means that we're getting more chop per unit traveled, a tough set of trading conditions for daytraders."

    Couldn't agree more....

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