¿How to properly spot S/R?

I was looking at today´s price action and although there were enough R levels to justify taking the short, I am not sure if it is prudent given that it was going back inside the congestion area from the opening range. Any thoughts?

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One question for oil traders. Why did it stop at 36 today, I was trying to understand that level as Support, but I just can't find a reason. Some help here would be appreciated.
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PAAddict said:
I was looking at today´s price action and although there were enough R levels to justify taking the short, I am not sure if it is prudent given that it was going back inside the congestion area from the opening range. Any thoughts?

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Depends on your records, you do keep records don't you ??
I did my Dow short thru SDOW, daytrade + don't do that too much.I was real concerned about the last week in DEC, IBD founder doesn't like last week of DEC much. So sold some there; but as far as today, midweek, long...................................................NOT long TSLA, still have some junk silver don't need junkTSLA ;LOL-LOL
 
To be honest, I missed it. Did not have it marked in advance. The level is even more obvious on a 4 hour chart looking at it now. I am not a fan of these middle of the PA levels. Easier to trade the extremes IMO.
 
PAAddict said:
Interesting approach to tracing trendlines. What technique do you use for that?
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Thank you

Every day I open the 15 min chart and look for trend lines that contains price. This way, i am aware of what can stop price from moving toward my target or against my entry.

I do not have a technique, I just look for obvious lines that containing price.
 
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