Disliked{quote} If you think of support and resistance as an area or range of pips that traders have rejected and not a 1 pip horizontal line would that be helpful ? Once determining the range, a trader can decide where in the range to draw the S/R line. I don't recall Strat having a strict rule about this .Ignored
In addition to Lou's comments Strat did always emphasize the importance of the candle closing before making any trading decisions. The candle close values on the time frame you are drawing S/R levels does therefore become important. The high low values on that time frame could very well be close or open values on another time frame due to the fractal nature of the charts / markets. The more touch points to the SR line you are drawing through open / close /high /low the more valid that level becomes.
Regards
Pete
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