I've been trading for over 27 years. I write a nightly trading plan for subscribers of my service. I also provide updates throughout the trading day in my instant messenger room. Visit TradeStalker.com for trading articles and videos.
Information
- Founded:
- I've been authoring the "RBI Trader's Updates" since 1996
TradeStalker The $ES_F and $NQ_F both popped to just under 1123.75-1124.00 and right at 1892.75-1894.00 and reversed during minot time of day, dropped to the 1098.50-1097.50 major zone (missed by 1 tick) and the rally started. Now 1118 must be cleared, then 1124 and 1131-1132 but vulnerable still below 1118. 1107 needs to hold or they retest/ break 1098. Mike
TradeStalker The $ES_F popped over 1140 about 9 minutes into trading this morning and fell to 1112.75 around noon. updated resist 1136.50 was a good short, as was 1127.75 on the way down [no heat], the rally smacked of short covering. I had 1119.50 and then 1111-1110 for targets. The rally back was almost 24 points....1138.50, 11144-45 next resist. Mike
TradeStalker I put a little info about the Trin as a timing tool on the discussion board. Hope you find this helpful in the future. Mike
TradeStalker
QUESTION: Do your principles apply to other markets where TICK isn't available (I understand TICK is central to his ananlysis so just wondering what i could do if no TICK available)
ANSWER: The support and resistance ,both fixed and dynamic, apply to all liquid mkts. I use the tick to help with entries/ exits, but it's... not needed all the time for sure. More markets are on the site here: http://www.tradestalker.com/othermarkets
TradeStalker The market broke big today. I put 1206 as good resistance in the chat room pre open, it was a low late thursday, and a double top there set up little 123 top on 1 min chart and then the Goldman news hit. If not for closing Trin over 3.00, and vix up 23% intraday (panic) i'd say a date with old 1171-1170 in the cards. 1194 now first resist.
Brian Sheard it broke 92 Mike so is this bounce a short at 93s or not ?
TradeStalker Make sure to check out the "Discussions" tab for the definition of a "Prarie Dog"
Jan Linhart Hello, I'm new here, and i do have question: "how are you actually calculating your RBI S/R levels?? I do trading succesfully for years using Clasical S/R levels. Thanks
Jeff Howell Mike, How about checking the currency futures every now and again...6E would be my first choice... thanks!
RECENT ACTIVITY
TradeStalker discussed Trading Options using Support and Resistance on the TradeStalker discussion board.
TradeStalker
Hey, for all you Options traders, I wrote a short article on "Using Support and Resistance to Trade Options". I included a chart too...you can read that here: http://www.tradestalker.com/using-suppor
Dennis D Young Hey Mike, great teaching on the videos. Thanks for that sort of input it has been a real help. For some reason I don't see 123 Tops/Bottoms so well. Would like to do that better. I did jump all over what looked like a Reversal Candle Setup at the 13:25 and 13:55 candles. Any light you could shed on my cloudy visio...n on the 123's or cautions about the reversal candles??
