Quote:
Originally Posted by Tess
I don’t really place a graded emphasis (differing strength’s) on what constitutes s&r to be honest. If price kicks away from an obvious (several bar) base or a 2-3 bar ledge, I’ll mark that area up for future reference.
|
Thanks again. I mean that.
First, my inclination would have been that tested S/R on the longer term chart would have the higher ranking. Interesting.
Second, sounds like you will mark up any potential/promising area for later confirmation? This is turning into a bit of a problem for me. I dont have any issue identifying "areas of potential interest," but I do with weeding through them. With trend lines added, I end up with the street map to Rochester. I have lines all over the place. Hopefully, my S/R acuity will approve with time.
Third, on your chart series, middle pair -- EJ 4H, lower of the upper two lines of resistence, where price touches in the middle, purple block. That would be the type of s/d area I was trying to describe in the original post. Price scoots up to an area of oversupply and goes quickly screaming away. In your example, of course, its twice more confirmed to make it all the stronger.