[DbPhoenix]

It may seem odd to some TL members that anyone (me) who maintains a 5s chart would be interested in a daily chart, much less a weekly one, including S/R that goes back for months.

But even if one trades off tick charts, he is excluding important information -- important in the sense that it may/will affect his trade -- if he does not consider the bar intervals and timeframes (these are two entirely different things) used by other traders.

There are, for example, a hell of a lot of EOD traders out there, and every one of them is looking at the highs of this trading range. Though some may be looking at 1390 and some may be looking at 1400 (for the NQ, 1880-1900), the power behind any move through or away from these levels will include a great many of those traders. To ignore them is to ignore the elephant in the room.

This is not to say that we can't fail here. But what are the probabilities? And that's where the relationship between price and volume provides the key.