I'll take momentum over Fibonacci mumbo-jumbo any day. As for levels, if the S/R is "meaningful," then it will be reflected in the momentum/price action. If the S/R is not meaningful, then price action momentum will not reflect it. So how is S/R not arguably redundant? Perhaps you use it for confirmation? But if the momentum and price action suggest a good entry, does that mean you would not enter if there is not a "suitable" S/R? Which begs the question: Are S/R levels a need-to-have, or a nice-to-have? As for the rest of your laundry list, I don't think padutrader was addressing them; he was only comparing S/R to momentum. Just my opinion, of course.
May I ask if you don't use time frames, do you look at price/volume charts to trade at all or just use # you calculate yourself?
the 90 percent losers in my opinion are the time based chart traders. that is intraday . momentum is a tool but why not go with points from apex nadirs? the few that recognize the apex nadirs leg beginnings have an "edge". they will not gift or sell the true system that identifies highest probability zero starting point of each leg. with many tens of thousands of hours dedication with passion you might become one of the elite. the market offers we accept.
the problem with time based charts is the bar sizes are tiny to huge same few minutes sometimes. other time who knows? range chart I always know bar size trend channel top and bottom of channel severty of angles etc. time based chart tell you one thing for certain. what time it is.
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