Support & Resistance Trading:
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Daily Trading Log
A lot of trading strategies are based on oscillators, especially
stock trading strategies, but I don’t have oscillators on my charts. I prefer
support and resistance trading because it gives me:
High probability knowledge of what will happen in the future.
Trading setups that hold their edge in all liquid markets decade after
Logical places to exit and enter trades.
Natural protection for hard stops.
A sense of confidence you’ll never get from oscillators.
The problem with oscillators is they tell you what happened in the past, and
they’re derived from price, so they lag the market whereas
Resistance Trading starts with price, and projects directly into the future.
Oscillators don’t tell you very much about the future. The way most traders
use them, they’re not much better than flipping a coin. For instance, in
trending markets, oscillators hit the extremes and snake back and forth
across the trigger lines for a long time, giving false entry signals that
can drain your account if you don’t ignore them. Problem is you don’t know
when to ignore them because it’s not a trending market until after the trend
begins, and by then you’re in and the market’s stopping you out.
In choppy markets, oscillator entries are better, but they still get you
into a trade very late in the price move, after the best part is gone. This
causes “whip-saw” action that’s costly. Now, on the other hand,
resistance trading that’s timed with the NYSE TICK gets you into trades much
earlier than oscillators.
day trading the stock market, the eminis, stock options,
stock index options, Forex, bonds, or mutual funds, support and resistance
levels are always there on the charts, ready to be exploited by anyone who
I write a market newsletter each day, giving my "game plan" for the next
trading day. I'm as specific as possible including Support and Resistance
levels that I will be buying and selling against, which provides *you* with
great trade set ups nearly everyday.
There are basically two broad categories of support and resistance:
#1. The Fixed Areas-
I calculate and publish these for the SP and Nasdaq
Futures every trading night using many tools such as Pivot numbers,
Fibonacci numbers, previous highs and lows, areas of congestion, certain
moving averages, trading channels, price symmetry and trend lines. I use
multiple time frames and always look for places on the chart where different
tools give me the same numbers. I call these “clusters.” I publish my fixed
support and resistance areas in my TradeStalker’s RBI Trader’s
Updates, along with my daily trading plan and analysis. My support and
resistance numbers are probably the most accurate and effective numbers
available anywhere. I’ve been trading for more than 30 years, and experience is
priceless when it comes to trading.
#2. Dynamic Support and Resistance -
These levels come into play during the day and give outstanding entry
opportunities if you know how to trade them. Some are based on key moving
averages during trending markets, others are based on chart formations, and
still others are calculated with the same tools I use after market hours.
I’ll teach you how to find these dynamic areas in my trading course along
with everything else I’ve been doing for the last 30+ years to make a living
day trading support and resistance.
If you are looking for a
day trading advisor, put my experience to work for
you. For about the price of a daily coffee, you can start your day
with a precise trading plan that is straightforward and easy to put to use,
receive my daily support and resistance zones for great trade locations,
learn how to take advantage of the emotional swings of the market, reduce
your risk, and finally day trade stock index futures (and their proxies),
options, and stocks with confidence.
Subscribe to my Support and Resistance Updates and see how my support and resistance levels and
market analysis will help your trading - no matter what method you’re
There’s never been a better opportunity to turn the corner and become a