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Another interesting day trying to understand how this S/R thing works. Today we had a slow downtrend (Trend Channel) that turned into a Triangle before a final BO and a proper uptrend. During the channel as expected trying to get through S/R levels was hard and costly. I am still trying to...

Ok, so my levels for today are in S, PDH and in R 2 days ago H and 3 days ago L. I will watch what happens at all those levels in case they are hit. All levels are RTH as suggested by NQ.

After the market Reversed from 2764 and crossed the 2750 level something interesting happened. Once a LH below 2750 was cleared, prices fell all the way to 2736 which was the same distance from 2750 to 2764, but on the way down.

Ok, I gave a try to the level spotted in premarket. I found that today trying to anticipate a trend out of a BO did not work (first Long), then the short from the LH after the fail of the BO didnt work either. By then my reading was congestion. A new long after the first RET after the new BO...

Ok, so given what you suggested I have identified RTH PDL as my closest R level. This coincides by a couple of ticks with the whole movement 50%. I will pay special attention to this level when reached. And post my update at the end of the day.

Thanks for your input. I am trying to understand the Horizontal S/R logic before starting to consider moving S/R levels. But thanks for taking the time to participate.

Thanks, I will pay special attention to those levels this week and post my observations.

Thanks for the chart So assuming your black horizontal line is Resistance provided by the Low of the Day of 2 days ago. Will you consider a long above that level and a short below it?. If a Short is trade, would you take the short just with the LH+Resistance or will you wait for the outermost...

Not sure I follow

My opinion is not decided, but I am exploring something new for me. I dont need Padutrader saying that it doesnt work, just for the fun of it.

By the way I have ignored Padutrader, too much noise for me.

Thanks for the input.

Thanks for your reply

First of all, thanks for your comments. The thing is I get into a trend, Lets say a take a short in what then turns into a downtrend, so far 3 things need to happen for my plan to activate a total close of my trade. The last of them being, crossing a specific level, that in order not to...

Thank you very much for your reply. Any material I can explore regarding your view on S/R?

Ok, I will just keep waiting to see if someone posts something usefull.

I would appreciate if you don't hijack the thread. If you don't think S/R works, then is of no use to contribute besides saying that in your opinion it doesn't work.

I have been working on a trading plan that so far has allowed me to profit in trending markets and to avoid big losses during congestions. But I still can't understand how to define my levels of S/R in order to take action regarding for example closing all my trade and taking action in the...

New York

Hi, thanks for the comment. By fake reversal do you mean a Reversal that turns into congestion instead of a strong trend?