Truthfully I think S/R work about perfect with trend lines, they give a great idea of where a future bounce will likely occur. At least for me, it's hard to tell where the next bounce will occur without S/R.
But then my philosophy on trading is not to discount any major indicator. There are plenty of people using them for entry/exit and they will likely have some affect on price.
But then my philosophy on trading is not to discount any major indicator. There are plenty of people using them for entry/exit and they will likely have some affect on price.