Hellooooooooooooooooooooooooo
I have over the couple of years I've been involved in technical trading, realized that you could pretty much fit in an S&R level on every single price on a pair.
E.g, there are highs and lows (both recent and longer term), fibonacci (retracements, extensions, fans), gann (blah blah blah), moving averages and so on..
So, how should this be dealt with? I mean, if one were to apply every S&R level one could find it would cover the screen and it wouldn't really help in your trading at all. So what makes the ones I plot more reliable? Do we have to be lucky? Do we have to assume that there are S&R all over the place that have not plotted?
I just don't get it
I have over the couple of years I've been involved in technical trading, realized that you could pretty much fit in an S&R level on every single price on a pair.
E.g, there are highs and lows (both recent and longer term), fibonacci (retracements, extensions, fans), gann (blah blah blah), moving averages and so on..
So, how should this be dealt with? I mean, if one were to apply every S&R level one could find it would cover the screen and it wouldn't really help in your trading at all. So what makes the ones I plot more reliable? Do we have to be lucky? Do we have to assume that there are S&R all over the place that have not plotted?
I just don't get it