Disliked{quote} Sorry RickM that doesn't mean anything! Try this.. on a monthly chart throw on twenty random lines, drop down to an H4 and hey presto you've got a load of support and resistance lines all done randomly! Sorry but monthly closes don't mean a light..............Ignored
It's true, there are a lot of big candles that go straight up those lines. But how one can now when the big one is coming..?
Anyway, we risk to over-complicate this method if we put too many lines, imho