¿How to properly spot S/R?

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

  1. PAAddict

    PAAddict

    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?

    upload_2019-7-18_11-7-20.png
     
    #81     Jul 18, 2019
    murray t turtle likes this.
  2. PAAddict

    PAAddict

    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. why36.png
     
    #82     Jan 15, 2020
    SimpleMeLike likes this.
  3. Hello PAAdict,

    The trendline below caused some buying.

    upload_2020-1-15_10-59-49.png
     
    #83     Jan 15, 2020
    oraclewizard77 and PAAddict like this.
  4. %%
    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
     
    #84     Jan 15, 2020
    PAAddict likes this.
  5. _eug_

    _eug_

    upload_2020-1-16_0-11-43.png


    Looks like this level has been used many times in the past
     
    #85     Jan 15, 2020
    SimpleMeLike and PAAddict like this.
  6. _eug_

    _eug_

    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.
     
    #86     Jan 15, 2020
    oraclewizard77 likes this.
  7. PAAddict

    PAAddict

    See
    Looks like mean reversion. I will look into that.
     
    #87     Jan 15, 2020
  8. PAAddict

    PAAddict

    Interesting approach to tracing trendlines. What technique do you use for that?
     
    #88     Jan 15, 2020
    SimpleMeLike likes this.
  9. 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.
     
    #89     Jan 15, 2020
    oraclewizard77 and PAAddict like this.
  10. PAAddict

    PAAddict

    Was adjusting my daily levels and found this... Interesting elite2.png
     
    #90     Jan 16, 2020
    Sekiyo and Onra like this.