Thanks Rick, a lot to digest in this thread I haven't had time to keep up, so sorry if i'm beating a dead horse on something you've already answered. (I can't wait to give this a crack after the holidays).
I've never seen anyone put so much emphasis on the closing price (i.e. line chart) for confirmation of resistance lines, why do you do that? It would seem to me that you could have a H4 close on resistance and thus 'confirm' it, however on the daily you would run the risk of completely overlooking that? Or are you saying that's why you gotta check the multiple time frames to make sure you don't miss any lines
Just quickly on the 'zones' - I'm sure it will make more sense to me once I actually trade it, but i'm still not sure on what your criteria is, it looks to me like you are just isolating those periods of 'consolidation/churn/indecision' (trying not to throw too many terms into the mix and over complicate it - so referring generally to these sideways periods) - which means you're just eyeballing to confirm the zones? Or do you have criteria e.g. must double top or bottom within a tight range, or it must converge with a line of resistance, etc...
Looking at one of your example, I have circled three other areas I would have also deemed as one of these zones, am I wrong? why?
View attachment 1490809Cheers mate - hoping this helps others also and it's not just me who is the numpty!
