Beginning to have the "aha" feeling. Horizontal support and resistance line do play a very important part. Look for S&R flip. Price do bounce off S&R.
Price zone will lots of volume are important too, take the middle of these area. Price do bounce off these area too.
Do look at S&R as zone and not absolute value. Market is never absolute. Observe price movement, tell tale sign like slowing down indicate a possibility of turn.
On top of that, realised that S&R of daily picture (not daily bar) gives the best result, propably because most traders stay up for the whole session. Smaller oscillation has little effect for S&R.
All the TA that we learn such as Head and Shoulder, Double Top, Double Bottom works best with a correspondance S&R. Not just any H&S, DT, DB that comes along.
