¿How to properly spot S/R?

[Erin]

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.
View attachment 218185

I don't want to come into a conversation with 20 20 vision post trade so instead lets see what price was doing and how the orders were playing out. This is a week to week view. When a new week starts we want to know what we are playing against

https://imgur.com/a/SuqDAx1

 

[Erin]

so if we know what the previous week looks like then we can make some assumptions about the week we are now playing - we know that the pivot low failed to hold price up and we know we have a swing right at that point

https://imgur.com/a/lkWf3la

 

[Erin]

This is the hourly and Ill finish marking in the above entries

https://imgur.com/a/3C4sN6A

 

[Erin]

demand forms from the higher swing to the right in blue and it gives an entry long it also puts price right back to where it broke higher

https://imgur.com/a/zGuIfWx

 

[Erin]

I would have chosen the same level as you - the overlapping bar that was created at that level also was supply and kept price moving down - there is one more thing to consider price wise

https://imgur.com/a/0O9NXyb

 

[Erin]

There is another demand created by the buy orders below price if we lose those buys they will be replaced by sell orders at that level - alternatively if price holds here there are three potential areas above price to target

https://imgur.com/a/0O9NXyb

 

[Erin]

here is the next chart

https://imgur.com/a/4a8Vwll

 

[_eug_]

Thanks for sharing Erin

 

[Erin]

Thanks for sharing Erin

that was the long version of price action it can be simplified

 

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Are you looking at candle open / closes to identify significant levels?