[heretodaygone...]

	Quote:	zeon
	I think there might be several ways of defining S/R but there is only one place where 'true' S/R resides, and that's the price level/zone/area where most of the action took place. For me, this usually means a congestion area of some kind, although it's not always that visible. I used to think S/R can be found in calculated pivot points or levels from the previous day, like the high and the low. Basically I spent a whole lot of time studying charts and noticed some peculiar reactions to those price levels. But perhaps they were only coincidential? I have also observed price bouncing off a trendline, but dbphoenix' point of view I believe is that trendlines don't provide S/R. Yours is apparently yet another way of viewing this concept. I'm sure a lot of traders will say "whatever works for you". But why would a WRB be any more significant than a not so wide body? Forgive me for saying, but when I see WRB and price is rapidly falling or rising, its my impression that there is a LACK of S/R in that area. Price seems to move from one area to another and these areas in between where price plunges or skyrockets don't provide any S/R for the reason that there's nothing but "air" in between. This is my view, don't shoot me now please I'm just stating my opinion and although I thought I had a good feeling in trading (based on my results last year), since this bear market started I'm kinda lost... so perhaps I got it wrong after all. Comments appreciated! PS: Oh and sorry if all of this is off-topic, but I'm just replying to another post. Seems like a whole lot is off-topic so perhaps we need to (a) change the name of the topic or (b) start a new thread?

So you believe 'true' s/r has to be accompanied by volume(action). Does the amount of time price stays at a particular level/zone/area irregardless of action hold any s/r for you? Does price/volume s/r that happens overnight come into your s/r calculations? Do you include "news announcement" volume in your calculations? good post.