The market has a structure. A timeframe is similar to a fractal. One can see repeating patterns from the smallest granularity to the largest aggregation. Similarly, any aggregation can be broken out into smaller segments. For example a 30m bar is composed of 3 parts. Two of the parts represent non-Dominance and the third part represents Dominance. How one sees this is to examine the 6 - 5m bars that compose the 30m. There will be a Dominant trend segment within this 30m bar that can be observed on the 5m.
The open of the RTH creates a reference line. In the 30m chart you see it as a thin blue line across the trading day. When one looks at the 12:30pm bar on the 30m, one can see the 6 bars that compose it on the 5m and the 15 bars that form it on the YM 2m. Each chart has a thin blue line that represents the aggregate bar in the next larger timeframe. This reference line can be considered a doji when the bar first begins to build. Where price is in reference to the open communicates the sentiment of the bar. This would be considered 'inside the market' and the hard right edge (HRE). When the bar closes, then all it's internal oscillations have crystalized the future into the now (n) and as the next bar opens this n bar becomes a n-1 bar. This n-1 (previous bar) gives multiple reference points. The most obvious are the OHLC. Most bars when they open throughout the trading day start as Inside Bars (IB). This is the non-Dominant segment of the trend that is developing. Inside Bars with few exceptions have less volume than the previous bar. For all this to make any difference to one's trading one needs to do drills to build one's mind.
Don't use 1 min chart. Don't use 4 min chart. Use volume chart. eg for ES, use 500V, 1500V, and 6000V charts
That's your brain only seeing the times it works not the rest of the time, works being coincidental after the fact line ups.
Just like any other chart pattern, a support/resistance line does not have to work ALL the time to be profitable ($$$). Trading is about probability, not certainty. You should know that by now, Turveyd.
I do!! But you should know, if your buying at a support point in a downtrend then almost defintely going to lose, which is what most people do. Trend Trumps S/R At any point, flip a coin, kill the trade if it's a loser quick, let it run and hey presto your profitable, just the same as an S/R entry. But what ever gives you confidence to enter the trade.
In a downtrend you simply short rallies at previous support lines (now resistance lines), you never buy anything, period. Only amateurs buy when the trend is down.
For day trading I prefer range bar or volume charts. For swing trading 30 min , 240 min and daily. I wrote more here with some chart examples.