Sorry, which one are in the same spot? There are two at the bottom (I call it a bracket) with a reversal and then there are another two further up. Those have been there from historical PA, meaning I did not invent them to make the chart look good.chickensword wrote: Sat May 28, 2022 3:31 pm i do get a little confused about s/r levels its like 5 are in the same spot lol
if you zoom in on lower timeframes i think consolidation confirms a breakout
looking at the weekly silver just retester underneath a descending triangle :0
As for the S/R levels on a low TF, as we go, I use the 1H, 4H and D1 Candles highs and lows to draw a line as those levels are more significant.....price reverses from there. Once they are invalid I delete them and keep the ones still valid. This way, over time, I get a pretty good collection of S/R levels that are still significant to watch. On higher TFs like D1, W1, I draw them manually.
As with Trendlines it is the same. On the low TF I draw them as we go, but I also use to draw those as H1, H4, D1 (in different colours). Thus, if on the low TF PA reaches such Trendline I know I got to watch what will the the reaction. It's not rocket science, but has proven to be very effective.
If wannabe traders would use Trendlines, they'd prevent themselves from getting into some of their losing trades. Will all know "oh, the MA turned blue and the Indicators in the subwindows.....got to go long (short), only to find out that PA returns to the original direction....pouncing off the Trendline, if they had drawn one.
That's the message I want to pass on. It is solely up to traders to use or ignore it.