Published on December 1, 2014
A common approach used with S&R zones used alone is to look at the same data in different time frames from the ground up, what is called the bottom / up approach. In the e mini Russell chart seen here, the one on the far left has failed to breakout and is breaking s-t support, a bearish si gn. The chart in the middle gives the e mini Russell market the ability to explain itself in terms of how it is managing to get above intermediate t erm (IT) resistance on the daily bar. As can be seen in the picture, it could not hold when it reached this extreme, thus far a failure.