Disliked{quote} Your supply zones are not drawn correctly. The bottom zone is close but a little off. The top two zones are way off. I suggest you watch this video, and learn as much as you can from this guy. https://www.youtube.com/watch?v=awtz32Uu66kIgnored
I think there's no "one size fits for all" concept when it comes to TA. I don't think we can put hard rules to that. No matter if it's s/d zones, trendlines or s/r lines. I think it's about your risk management and your risk appetite. One can use m5 supply zones and already have opened EU short positions, or one can wait for the price to hit 1hr, 4hr or even daily supply zones. While the trader who opened his shorts based on m5 risks some drawdown, the bigger timeframe trader risks losing a trade opportunity.
There are lots of timeframes and hundreds of s/d zones to pick, so it's a very tough game to predict which ones will hold or and which ones will not. That possible sniper entry may be anywhere. So rather than asking ourselves "which ones will hold?" i think it's better to ask ourselves "which ones can i afford to risk?"
I think trading the financial markets is not much different than the other businesses. I have worked in restaurants and butcher shops, all i can say is it is important to have an idea about where the overall trend goes and will, then it comes down to making a good deal with your supplier. Same with trading, decide if you want to go short or long, then look for a good entry (a good deal). That entry doesn't have to be a "sniper entry" all the time, but it shouldn't cost you more than you are willing to risk on that deal as well. Restaurants and butcher shops doesn't always find a sniper entry to fill their storages either, especially in high inflationary and volatile times. But they always try to get a "fairly good" deal.
I am sure people who work in the sectors that are highly affected by the commodity prices will relate.
Don't get me wrong though, thank you for your help and i appreciate it. I just wanted to discuss if we really should put hard rules on TA or not.
I make my own luck.