¿How to properly spot S/R?

Discussion in 'Technical Analysis' started by PAAddict, May 30, 2019.

  1. PAAddict

    PAAddict

    I have been working on a trading plan that so far has allowed me to profit in trending markets and to avoid big losses during congestions. But I still can't understand how to define my levels of S/R in order to take action regarding for example closing all my trade and taking action in the opposite direction.

    Any help will be deeply appreciated.
     
    SimpleMeLike likes this.
  2. padutrader

    padutrader

    you will not appreciate this....

    because support or resistance is defined by the state of the market at that time...

    if the market has not topped out or bottomed out, that S/R will be an illusion...

    this is only logical.....a wall will stop a car moving at 5 miles an hour but a bullet train moving at 200 miles an hour will not know it existed.

    the same thing with markets....

    the markets will top or bottom out when they run out of steam in that direction....

    that level then becomes the next S/R
    and traders will expect the market to honor that level.


    S/R is a joke but a joke that traders do not find very funny
    see chart: I have marked all the tops with white lines: does even one top equal another.
    so what is your resistance?.
    pm me I will give you a 100 jokes that are funnier than S/R free

    jm1.jpg
     
    Last edited: May 30, 2019
    SimpleMeLike likes this.
  3. NQurious

    NQurious

    You need to stop thinking you should be giving TA advice
     
  4. padutrader

    padutrader

    it is not advice it is my observations
     
    SimpleMeLike likes this.
  5. NQurious

    NQurious

    Then how about an "imo" at the end of what you say. You sure try to come across like you know wtf you're talking about
     
    Handle123 likes this.
  6. You missed this one:

    upload_2019-5-30_19-37-57.png

    S/R is overrated though. Just another quiver in the hood, IMO.
     
    S-Trader and Handle123 like this.
  7. PAAddict

    PAAddict

    I would appreciate if you don't hijack the thread. If you don't think S/R works, then is of no use to contribute besides saying that in your opinion it doesn't work.
     
    Last edited: May 30, 2019
  8. Does this padutrader even make money?

    I read he traded for 20 years or something some time ago and still not making money.

    And it looks like he gives expert advice frequently.

    Thats just me.
     
    NQurious likes this.
  9. padutrader

    padutrader

    oh they all work....but you dont

    how can you make money that is the question?

    how on earth are you going to trade all the S/R?

    the one that i marked and the two big ones that some one else marked.....are in 5 min....there are so many time frames and each ones have their own S/R.
     
    Last edited: May 30, 2019
  10. padutrader

    padutrader

    it is not advice ...what have I adviced?

    I have only asked what is S /R?

    that is a question
     
    #10     May 30, 2019