whatever you call it, it works
This was NFP which I wouldn’t be trading anyway.
Price has continued on past that level in the last couple hours but it certainly reacted to that level. Since it’s making closes lower I would probably have a short bias and be looking for TP’s further down. Back to that little consolidation, I would classify that as a weak D1, more like an H4 level. So with S/R I’m looking at time frame, with higher time frames being more significant than lower ones. I try to classify them as strong, medium or weak. I look for reaction, is it bouncing off or going through and this gives some directional bias and then nearby s/r for targets. With the trend you can target the same or higher time frame s/r, counter trend you may only target lower time frame s/r to be more conservative. Which brings up the point that there should be some trend analysis involved. Well this is just an idea of some of the stuff I look at these days. Not saying I’m good at it, I never say that, it would jinx me. LOL
NB is going to pick on me for posting so much and pretending I know what I’m talking about heh