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Please tell me if I am wrong. Once you spot a strong move in either direction, you look for the last trend that formed before that strong move and define the pivot for Support or Resistance. Then wait for prices to move back to that level and take the trade once a setup develops at that level.

The first sign of supply in this area that was not on my original post as potential Resistance, let's see how this evolves.

As for what I am looking at today, here is what I see. We made it to the area defined as S and demand finally came in at the expected level. At the open, I bought the first retracement. Let's see what happens.

Thanks Erin. I can't understand why people just burst into threads in order to discredit others. I have ignored both naysayers so at least for me, that will no longer be a distraction. I am not a fool who thinks I am going to find the holy grail in an ET thread, but the method to trade trends I...

Thank you for all your input. I will give it a good read and a lot of study to the charts over the weekend. Please keep it up, I appreciate it very much. I notice the thread is finally attracting trolls, that's part of life. I mainly ignore and block most people. So please don't stop sharing...

That is NQ So far we are already at the area I defined as potential Support, Still no change in the trend in the hourly.

So, trying to understand this S/R issue. I am starting to record what I observe via trades, I will post here my journal and see if I can learn something from my observations. For now, I took the first retracement after the open, and I am waiting for prices to reach the area where I am expecting...

Here is just fine, I think we are talking in different languages but that should be fixed once a proper interface can be set up. :p

Long term this is what I found: Short Term (Intraday monday action)

Thanks, I am looking at it at the moment.

I tried this approach today, just for the sake of trying and it was very interesting. Have never done this in the past.

Thanks, what I understand from this is that potential resistance is defined at a level where supply showed itself in the past i.e a Lower High that developed into a trend. So when prices return to that area one gets ready to go short again. Is that what you were trying to communicate or I got...

Thanks for the guidance, I found a congestion + breakout +test setup on April 2019. The market topped in January just below the bottom of that congestion and today we stopped at the level where price confirmed the test of the breakout in nov-dec.

Hmmm. Very interesting. This is what I found

Thanks for the input. Here is daily, but still cant find something that pops up, at least for me.

Once again with Oil, I have no idea why support showed up at 56.73, did anyone have that level as important today?

Thanks

Where did you find that?

This is a great example of what I am after. Yesterday support came from a level that I would never pay attention to (my bad). Today I was looking at Previous Day High, that actually provided Resistance during the premarket. As I was looking at the chart in real time, I was looking for...

Was adjusting my daily levels and found this... Interesting