trend line, ema, pivots, swing high/ lows all these are key areas and may qualify as S/R. and then there are minor and major key areas. if i write it like this it seems complicated but since there is enough time to become aware of these on charts and plan for it in real time it is not complicated. but you must be constantly planning.
remember if there is failed break out from a range or channel which goes back into the range then it will go to the other side of the range. if it does not do that and turns before reaching the other side, then it is likely that the market is no longer continuing the ranging market action and changing into something else.
when you are drawing a line make sure you draw it in such away that it makes a lot touches to the market.
So after 30 years of experience, you still don't have a defined trading plan? No wonder why you are still struggling... You need to start learning something....now.
NOW you tell me WTF? WHAT were you doing all this time. you are responsible for all my losses. see you in court
too bad i did not use channeling all this time. this has been the story of my life. stop the good stuff and try stubbornly to make the bad stuff work. baby steps at a time channeling is very powerful and combine it with PA and you have more power than Hiroshima atom bomb the lesson here is do not stick only to one form of strategy..... combine two or three and you get a huge edge
trend lines and trend lines breaks give a really powerful way to trade the market. Wade and Brooks both advocate this but i felt TL were too subjective. you can draw too many and which do you take? this was a very costly dilemma and i did something worse: cut TL totally from my trading. i again revisited this after maybe a decade and something changed. i think it was my attitude. and i realized that a minor break of trend line was seen by traders as an opportunity to enter the trend a major trend line break warned traders that a reversal MAY be coming and to watch the attempt to make a new extreme very very very carefully. this begs the question: what is minor and major trend lines and breaks? it is so subjective, to what you are looking to trade-the particular trend ,swing, leg, channel.....or pattern.... that it was not easy to find. which is why even Brooks did not attempt to explain or he thought it was obvious. but for an idiot like me who wants to know everything with certainty, it was a big hurdle to overcome and i never had confidence in my trading which is the surest way to fail. you should still be trading in direction of the trend until the attempt [test] to make a new extreme-high in a bull or low in a bear- is over.