I have a few question in mind:
- How long do you guys change the position of your SR line after you set it on your chart?
- Is your SR line the same for all your time chart for a set of currency?
HELP!!
If price doesn’t break there is no time limit. I start each day with a blank chart and draw in the relevant levels. If it does break, you can leave your S/R line until you see two breaks. For example, if you have a support that breaks, leave it on your chart as a resistance now. If it is tests as resistance and doesn’t reject price, then remove it. If it does reject, leave it. The level is still of importance.
Question 2, yes different TFs will reveal different levels. Think of it as the big picture, and the detailed one…but it’s all the same thing from a different perspective.