So my question is how does price actions relation to support and resistance change over time?
For example, A breakout of a resistance level typically means price should move higher, of course its 50/50, its a market, no one knows for sure what will happen. But the same breakout areas seem to stay the same, like once there is a consoladation area and the breakout occurs, price typically moves in that direction ( if its a strong breakout ).
So how does price action affect that over time?
If you look at daily charts from years ago, you can pretty easily spot the breakout areas of S/R of course hindsight is 20/20 right? Haha. But still, those levels proved true, of course levels are always different, what was a support area before probably wont be next month, maybe just a reaction area to pay attention to, rather than a breakout area.
I know this is a broad question with many answers, but everyone says the market changes, things like support and resistance always seem to hold true since markets began. How does price action change around the levels?
Price is drawn to liquidity. If there are pending orders above or below an S/R then the chances of breakouts are higher; especially after double tops/bottoms are formed, since there will almost always be liquidity to be found beyond double tops/bottoms.
Getting long on a break-out through resistance is a sound enough tactic to give you an edge over a 50/50 guess.
Of course you need to make sure of one or two things -
It is a real and potent resistance. A good example would be a level that has rejected strongly rising prices at least twice recently with strong downward reactions.
Its high risk to simply buy because price has risen and breached the resistance level price, price A. For a better probability of success, wait for price to fall back from its high at point B, and test the resistance level from above: buy if it now rejects the falling price (and acts as support). A further advantage is that the price action now indicates where to set your stop-loss - if price breaks down convincingly through the s/r level, then it has lost its potency and the trade can be dumped.