DislikedKen,
Correct me if I'm wrong but that was support was as much to do with the prior break out of that range and the rally base rally demand?
I think drop base rally shows stronger demand than rally base rally?
visa versa for supply, or do you consider them equal? or each on its own merits?Ignored
But what is the real level ? It can be argued till time ends. as all we have to do is move time on the charts to see what we want to see. The key is to find the one you like the most and see the clearest. I still like the 30 min chart. But the big trades will be coming off big charts.
To not look at both or all views is a mistake a lot of intraday traders make . Focusing to much on fast charts and missing the bigger moves or even the correct trend.
Plus Support is not what we are focusing on at the present time. This is a supply line that has now become a demand line. which is a swap of predominant orders waiting to be filled.
This is key to understand. The thinking is a bit different and isn't readily interchanged as so many do. Support doesn't equal demand . nor resistance supply. For ease they are swapped constantly but to view them as such we are missing the picture.
Good Trading To All ; Ken Lee