Regarding S/R lines?
Every single tick that has ever been touched on any chart ever, is at minimal a support line, and at maximal a resistance line.
By minimal being a support line, I mean 0. Assuming an instrument can never fall below zero, but can start at zero, then zero IS a support line.
Because that instrument could theoretically fall back to zero, and then bounce off of it then. That would be a double bottom. It could bounce to 10, but back to zero. Now you have a triple-bottom.
Resistance is the same way.
An instrument can start at zero (support), head to 100 (resistance), and then bounce between 0 and 100 for 100 years. You have very long-term S/R lines there. In between those two extremes, you can have shorter-time frames with a 20-80 range. Etc. The more granularity you add to a chart overtime, the more S/R lines you will have. But every tick IS a potential S/R. Ever. Pointless points.
Until Trump tweets that the Trade war is over and all tariffs are lifted, in one tweet, on a Tuesday. I'd gladly pay him for that hamburger, THAT day, because then the resistance will be broken.
Every single tick that has ever been touched on any chart ever, is at minimal a support line, and at maximal a resistance line.
By minimal being a support line, I mean 0. Assuming an instrument can never fall below zero, but can start at zero, then zero IS a support line.
Because that instrument could theoretically fall back to zero, and then bounce off of it then. That would be a double bottom. It could bounce to 10, but back to zero. Now you have a triple-bottom.
Resistance is the same way.
An instrument can start at zero (support), head to 100 (resistance), and then bounce between 0 and 100 for 100 years. You have very long-term S/R lines there. In between those two extremes, you can have shorter-time frames with a 20-80 range. Etc. The more granularity you add to a chart overtime, the more S/R lines you will have. But every tick IS a potential S/R. Ever. Pointless points.
Until Trump tweets that the Trade war is over and all tariffs are lifted, in one tweet, on a Tuesday. I'd gladly pay him for that hamburger, THAT day, because then the resistance will be broken.