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Ok, we finally found Support and a Higher Low gave the signal for a long. Now we are on our way to the next area above 9050

We just broke to the downside. We are almost at the bottom of the upleg from the start of February.

Yesterday we found enough buying to stop the fall but not strong enough to reverse the trend. Seems like we are in a congestion. Wonder if anyone would like to share his or her hypothesis regarding possible breakout directions based on the previous trend and where price is at from a Support and...

Given that we are at this precise time exploring these levels. Which ones would you consider more important in order to stop and reverse a trade?

Here is the view from a daily perspective.

So far no Support confirmed by a Higher Low in the hourly. Let's see what happens tomorrow at the open.

Today buyers tried 9602 but didn't find a following. So sellers tried down and broke bellow 9558. From there the trend was confirmed in the hourly. Now waiting for a Retracement in the hourly

Great thanks for sharing. I am still holding the Short until I see a change in trend in the hourly.

We finally made it to the pocket formed on the 13th. Let's see what happens with buyers here.

Well, today was particularly hard to find an entry between those two price pockets.

Oil also found support in the previous area and started the rise.

Well, it seems like the area of Resistance I was expecting didn't provide much supply. Now we have an area of support.

Hi, are you assuming that 52.63 is Resistance and shorting expecting price to reverse after that level is hit?

I will see this tomorrow, I have never used closing prices in intervals smaller than daily because I did not consider those relevant. But every piece of knowledge is valuable. Thanks.

Today was very interesting as prices came back from Resistance all the way to my initial entry, requiring a Reentry above Support. So far we reached the top of the previous downtrend where I was expecting the next area of Resistance. Let's see what happens.

Going micro, I found that 9627 effectively had enough sell orders to absorb all buyers 2 times so far. The first LH at 10:30 did not attract enough followers and a HL formed above 9592. But the trend that ensued couldn't get through the supply pocket that formed at the LH at 10:30.

Ok, I have been reading what Erin and Eug have been posting, and Here is what I understand so far. I am kinda slow for this so please bear with me. The thing to look for regarding the potential levels of Support and Resistance are the price pockets that formed either in or against the trend las...

I am still puzzled by your method. I have drawn a couple of places (Yellow rectangles) where I don't understand why you don't see those as levels of interest.

Just an update in my latest observations:

Thanks! I will look into it. It looks like today we don't have any reference point to define Resistance. :p