Emini Day Trading: Understanding R1 Resistance
Many Emini traders incorporate the pivot support resistance method into their trading strategies. Yet rarely do we see robust studies done on this classic day trading technique. Many beginner traders learned the concept and fails miserably in utilizing the method while quite a number of professional traders sworn by it. What really makes trading with pivot support resistance levels work? How to engage Emini trading properly using the method? In this article I will illustrate how to utilize the R1 resistance level correctly in day trading the Emini S&P.
- Pivot Point and Its Support Resistance Price Levels
- Statistical Biases Related to R1
- Basic Strategies Based on R1
- Confirmed Entry vs. Non-Confirmed Entry
Pivot Point and Its Support Resistance Price Levels
A detail discussion about the pivot point and its related support resistance price levels is presented in the article, The Ever Confusing Emini S&P Pivot Point Support Resistance Levels. Please refer to the article for basic calculation of the price levels and an overview of various variations of the calculations. In this article, I will focus on using the Near Resistance (R1) based on the US stock market open hours instead of the more common one based on the classic floor pivots for which the calculation is based on the Emini index future’s regular trading session.
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