¿How to properly spot S/R?

themickey said:
Imo, many of you guys are deluding yourselves with bias regarding straight trend lines.
Below is an annual representation of CL futures (cash no different).
How many straight trend lines can you see?
Those which you can see are like animal figures in the clouds, largely a result of coincidence.
Is there any regular features you could bank on with those imaginary straight trend lines - No!
If every man and his dog trading CL is looking at trend lines, do you think the majority are going to be profitable? No! The majority of retail traders with simple known TA concepts are losing money.
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Now there's a market that reacts to news, and when news sinks in it reacts hard. A true supply and demand market, with forward thinking, not like this shitty equity crap. Man I miss my old CL ways. I really should revisit that.
 
PAAddict said:
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 because of that.
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I understand and thank you for the suggestion I will do so. The conversation of price action is long standing as support/resist vs supply/demand. I like the topic and you asked the right questions - why does price stop where it does. Many traders spend hours watching their chart during the trading week but few can actually see what is happening on the charts.
 
_eug_ said:
Peak B on your chart also likes up with the bigger picture weekly swing high from Oct 2019.
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Here is a daily and I tend to agree with you, those open mouth price action below - price is feeding out of them and going higher - one thing to consider with that type of price action is the supply and demand / sell and buy orders are being equally removed for price to move higher. If price goes south it will do so very quickly as there are no orders. Those are also fractals that are moving price against trend - smaller version to the larger picture we are looking at. I t is an interesting play to see if that top holds against the smaller fractals moving against it
https://imgur.com/a/hocfOMI
 
Erin said:
The thread was started by Paaddict to discuss SR, it is neither here nor there if you like it or not. You would be hard pressed to find two traders with identical trading habits and likes but it is always interesting to read what others are doing. Why not show traders what you do like to use as your method in trading - instead of saying I like this or I do not like this - it does not say alot
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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 use, I found it here a long time ago, and I appreciate that very much. Now I read everything with a huge amount of scepticism, and test (back and forward) everything on my own before actually using it in live trading.
 
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.

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PAAddict said:
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.

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

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