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Which SR is important?

  • #1
  • First Post: Aug 24, 2006 12:22pm Aug 24, 2006 12:22pm
Hi,

ACM has a daily analysis that displays:

(S)trong
(M)inor
(T)rendline
(K)eylevel
(P)ivot

support & resistance values

How do I determine (usually) which are more important? Is there some kind of hierarchy of importance?

I assume that of these the K(eylevel) is the strongest. Please correct me if I'm wrong.

But I have no idea how important Trendline or Pivot levels are compared to Keylevel, Strong, Minor

anyone want to take a stab at helping me understand this?

http://www.ac-markets.com/platform/i...&newsid=347223
(SR table is at bottom of page)
  • #2
  • Aug 24, 2006 12:50pm Aug 24, 2006 12:50pm
Quoting ycomp
Hi,

ACM has a daily analysis that displays:

(S)trong
(M)inor
(T)rendline
(K)eylevel
(P)ivot

support & resistance values

How do I determine (usually) which are more important? Is there some kind of hierarchy of importance?

I assume that of these the K(eylevel) is the strongest. Please correct me if I'm wrong.

But I have no idea how important Trendline or Pivot levels are compared to Keylevel, Strong, Minor

anyone want to take a stab at helping me understand this?

http://www.ac-markets.com/platform/i...&newsid=347223
(SR table is at bottom of page)
If you really want to know, just compare each level with the open orderflow around the defined price. Look at the following:

08:53 GMT August 24th] [EUR/USD]
Offers into 1.2835/40 now in focus after Ifo buying. Talk of option related sales into the 1.2850 level linked to option expiries intraday. MFS/RB

[08:00 GMT August 24th] [EUR/USD]
official bids reported into 1.2740 once more. MFS

My guess would be the 1.2850 and 1.2735 will be the significant ones. The rest may be important technically, but there arn't any orders to validate them...
  • #3
  • Aug 24, 2006 4:19pm Aug 24, 2006 4:19pm
Quoting Darkstar
If you really want to know, just compare each level with the open orderflow around the defined price. Look at the following:

08:53 GMT August 24th] [EUR/USD]
Offers into 1.2835/40 now in focus after Ifo buying. Talk of option related sales into the 1.2850 level linked to option expiries intraday. MFS/RB

[08:00 GMT August 24th] [EUR/USD]
official bids reported into 1.2740 once more. MFS

My guess would be the 1.2850 and 1.2735 will be the significant ones. The rest may be important technically, but there arn't any orders to validate them...

DS,

Would you care to expand any on this open orderflow? You've mentioned it before as a critical component of successful trading, yet I have yet to find any information relating to this (every google return deals with brokers trading off their orders to larger banks).

Are you getting this data from news feeds and then making the determination that prices will move toward those numbers?

Or perhaps you could point toward a reference that I'm not finding?

Thanks,

Jason
  • #4
  • Aug 24, 2006 5:31pm Aug 24, 2006 5:31pm
Quoting jlowder
DS,

Would you care to expand any on this open orderflow? You've mentioned it before as a critical component of successful trading, yet I have yet to find any information relating to this (every google return deals with brokers trading off their orders to larger banks).

Are you getting this data from news feeds and then making the determination that prices will move toward those numbers?

Or perhaps you could point toward a reference that I'm not finding?

Thanks,

Jason
You need IFR forexwatch. FXCM and others have a free version of it built into their platforms. The FXCM one has a pretty good interface. I wouldn't recomend trading with them but the news is good.

One of the many good features of the service is a listing of significant order placement on each pair. Once you learn how to read it, it becomes an imensley valuable resource. I have been hashing around an idea to start an educational project on the subject but explaining how is far beyond the scope of what I want to go into right now. Check out the service and keep an eye out on the forum...
  • #5
  • Aug 24, 2006 5:44pm Aug 24, 2006 5:44pm
Doesn't matter too much on which is best, unless you find 1 that rarely works for you, then delete it.

Don't, jump in on a S/R point, be patient and wait for a reversal preferably, or atleast a good sign that there is actual S/R there, and it's not just a short pause while people like yourself load, to be stopped out 2mins later.

Thats why when that area breaks, it goes through really quickly, isn't a magic line creating selling, it the people who bought in error scrambling to get out.

TREND TREND TREND TREND is Key, fight the trend get slaughtered.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #6
  • Aug 24, 2006 5:46pm Aug 24, 2006 5:46pm
I use and Like FXCM if they improved there withdrawls system, so log on, click a few buttons, £500, and next day it's in my account it'd be perfect ( not that i'm at the taking level yet ), Faxing a stupid form to them, and waiting for a cheque SUCKS.

FXCM Demo account, gives there full news feed, tis nice
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #7
  • Aug 24, 2006 6:12pm Aug 24, 2006 6:12pm
Quoting Turveyd
FXCM Demo account, gives there full news feed, tis nice
It is. The $275/mo one directly from IFR is lightyears ahead of it though...
  • #8
  • Aug 24, 2006 6:52pm Aug 24, 2006 6:52pm
I am a bit dense, fellas ..

I do not see the interface for IFR data you are talking about in FXCM GUI ..

Is that in 'Research' tab and do I have to go thru the IE dailyfx web page ??

Thnx ..
  • #9
  • Aug 24, 2006 6:53pm Aug 24, 2006 6:53pm
Quoting Darkstar
It is. The $275/mo one directly from IFR is lightyears ahead of it though...
Perhaps once you get your educational system out some of us might eventually be able to afford $275/mo for it. :-)

I look forward to seeing whatever you come up with. In the mean time I'll check out those sources.

Thanks.

Jason
  • #10
  • Last Post: Aug 24, 2006 6:55pm Aug 24, 2006 6:55pm
download the news plugin from FXCM... it's on the same page as the FXCM software download.

Quoting bullwinkle
I am a bit dense, fellas ..

I do not see the interface for IFR data you are talking about in FXCM GUI ..

Is that in 'Research' tab and do I have to go thru the IE dailyfx web page ??

Thnx ..
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