23. TimeFrames we Draw S/R
Alright, let’s talk about the sacred art of drawing support and resistance, and why we don’t bother with those chaotic lower timeframes!
You see, drawing lines on a 1-minute chart is like trying to nail jelly to a tree – utterly pointless, incredibly messy, and a fantastic way to develop an eye twitch. Those tiny timeframes are where prices just flail around, trying on every outfit in the closet, changing their mind every three seconds. Good luck drawing a reliable line there; you’d need a ruler made of spaghetti.
That’s why we bring out the big guns: the Daily and Weekly charts. These are where the market gets serious, puts on its sensible shoes, and actually makes decisions.
Daily Levels: These are like the market’s favorite comfy couch (support) or that stubborn ceiling it just can’t seem to break through (resistance). When prices bounce off these levels, it’s not a fluke; it’s the market saying, “Nope, not going there today!” with conviction. You can actually trust these lines, unlike that one friend who always says they’re “five minutes away” but shows up an hour later.
Weekly Levels: Oh, these are the OGs! The ancient, unbreakable laws of the market. When prices hit a weekly support or resistance, it’s not a suggestion; it’s a command. These levels have been forged over weeks, months, sometimes years of market battles. They’re like the wise elder of the chart, whose word is gospel. Trying to trade against a weekly level is like trying to argue with your grandma about politics – you’re just going to lose, and probably end up slightly bruised.
So, why ignore the lower timeframes for this? Because we’re looking for genuine, market-wide agreements, not just a fleeting sugar rush. We want lines that hold weight, that the big players (and sane traders) actually respect. Drawing on anything less is just doodling in the margins of madness, and who has time for that when there’s actual money to be made (or wisely protected)?
💰Quotes:
“Enter the trade — then sit on your hands like a monk!”
“We don’t click and panic. We click and chill.”
“Traders who wait, get paid. Traders who fidget… donate!”
“We enter the trade, then do absolutely nothing like pros.”
“Let the market work. You’re not its boss.”
💰Normal Tone Slogans:
“Enter with a plan, then let the trade play out.”
“The work is in the setup — the result comes with patience.”
“We don’t babysit trades. We trust our edge.”
“Entry is action. Waiting is discipline.”
“After entry, emotion has no place — only patience.”
23. TimeFrames we Draw S/R
Alright, my chart-drawing comedians and market cartographers! We’ve talked about the crucial S&R levels in a very serious way, but let’s be honest, sometimes drawing them can feel like trying to remember where you parked your scooter after a particularly festive night in Barcelona.
So, when it comes to deciding between the daily or weekly timeframe for drawing these magical lines, think of it this way:
Daily vs. Weekly S&R: Consulting the Market’s Memory (and Avoiding Amnesia!)
Imagine the market has a memory, just like us. But it’s a bit quirky.
The Weekly Chart (W1): The Wise Old Grandparent of the Market!
What it is: This chart has seen it all! It remembers the big, important family gatherings, the major historical events, the truly traumatic (or triumphant) market movements from years ago. Its memory is long-term, profound, and utterly reliable.
Why we draw here: When you draw S&R on the weekly, you’re tapping into the market’s deep, ancestral wisdom. These are the levels that even the biggest, most institutional “market whales” respect. They’re the ancient city walls of Barcelona – they’ve been there for centuries, seen countless battles, and aren’t moving for just any random price wiggle.
Analogy: If the market says, “I’ve hit this spot every few years since the Spanish Armada, and I’ve always bounced!” – you listen. These are your “grandparent levels.”
The Daily Chart (D1): The Detail-Oriented Cousin with a Good Recent Memory!
What it is: This chart is great for remembering what happened last week, last month, or maybe the quarter before that. It knows all the recent gossip, the minor squabbles, and the little detours. Its memory is detailed, practical, but a bit short-sighted on its own.
Why we draw here: You use the daily to refine those grand weekly pronouncements. It’s where you find the recent little “speed bumps” and “roundabouts” that the weekly chart might just gloss over. It’s perfect for seeing how the market is reacting right now to those bigger levels, or finding new, relevant levels that just formed last Tuesday.
Analogy: This is like remembering where you parked your scooter last night, or which bar had the best patatas bravas yesterday. Crucial for immediate navigation, but not for planning a trans-European trip.
The “Dream Team” Strategy: Because Two Memories Are Better Than One!
So, which one’s best? Neither alone is perfect, my friend! It’s like asking if you prefer an ancient map (weekly) or today’s traffic report (daily) for getting around Barcelona. You need both!
Start with Grandpa Weekly: Always, always, always go to the weekly chart first. Zoom out! Identify those huge, undeniable lines where the market has made significant decisions over years. Mark them like ancient monuments. These are your non-negotiables.
Then Consult Cousin Daily: Switch to the daily chart. Your weekly lines are still there, like sturdy beacons. Now, fine-tune them if needed (did price exactly touch the wick or the body on the daily?). And then, add any new significant S&R levels that have formed more recently, perhaps within the last few months. These are your tactical levels for the current battle.
What happens if you only use one?
Only Weekly: You might miss some fantastic recent trading opportunities because you’re waiting for the price to hit a level it might not reach for another six months. You’re trying to navigate tiny side streets using only a map of continents!
Only Daily: You might jump into trades based on flimsy, short-term levels that a big institutional player (who only looks at the weekly!) is about to smash through without a second thought. You’re trying to drive a bus using only a diagram of a single intersection!
By combining the wisdom of the Weekly Grandparent with the detailed insights of the Daily Cousin, you get a complete, layered map of the market’s intentions. You know where the big, unmovable barriers are, and you also know the current local skirmishes. It’s the ultimate market memory hack for navigating those price swings like a true Barcelona local!
💰Quotes:
“Enter the trade — then sit on your hands like a monk!”
“We don’t click and panic. We click and chill.”
“Traders who wait, get paid. Traders who fidget… donate!”
“We enter the trade, then do absolutely nothing like pros.”
“Let the market work. You’re not its boss.”
💰Normal Tone Slogans:
“Enter with a plan, then let the trade play out.”
“The work is in the setup — the result comes with patience.”
“We don’t babysit trades. We trust our edge.”
“Entry is action. Waiting is discipline.”
“After entry, emotion has no place — only patience.”
23. TimeFrames we Draw S/R
Alright, let’s talk about the sacred art of drawing support and resistance, and why we don’t bother with those chaotic lower timeframes!
You see, drawing lines on a 1-minute chart is like trying to nail jelly to a tree – utterly pointless, incredibly messy, and a fantastic way to develop an eye twitch. Those tiny timeframes are where prices just flail around, trying on every outfit in the closet, changing their mind every three seconds. Good luck drawing a reliable line there; you’d need a ruler made of spaghetti.
That’s why we bring out the big guns: the Daily and Weekly charts. These are where the market gets serious, puts on its sensible shoes, and actually makes decisions.
Daily Levels: These are like the market’s favorite comfy couch (support) or that stubborn ceiling it just can’t seem to break through (resistance). When prices bounce off these levels, it’s not a fluke; it’s the market saying, “Nope, not going there today!” with conviction. You can actually trust these lines, unlike that one friend who always says they’re “five minutes away” but shows up an hour later.
Weekly Levels: Oh, these are the OGs! The ancient, unbreakable laws of the market. When prices hit a weekly support or resistance, it’s not a suggestion; it’s a command. These levels have been forged over weeks, months, sometimes years of market battles. They’re like the wise elder of the chart, whose word is gospel. Trying to trade against a weekly level is like trying to argue with your grandma about politics – you’re just going to lose, and probably end up slightly bruised.
So, why ignore the lower timeframes for this? Because we’re looking for genuine, market-wide agreements, not just a fleeting sugar rush. We want lines that hold weight, that the big players (and sane traders) actually respect. Drawing on anything less is just doodling in the margins of madness, and who has time for that when there’s actual money to be made (or wisely protected)?
💰Quotes:
“Enter the trade — then sit on your hands like a monk!”
“We don’t click and panic. We click and chill.”
“Traders who wait, get paid. Traders who fidget… donate!”
“We enter the trade, then do absolutely nothing like pros.”
“Let the market work. You’re not its boss.”
💰Normal Tone Slogans:
“Enter with a plan, then let the trade play out.”
“The work is in the setup — the result comes with patience.”
“We don’t babysit trades. We trust our edge.”
“Entry is action. Waiting is discipline.”
“After entry, emotion has no place — only patience.”
23. TimeFrames we Draw S/R
Alright, my chart-drawing comedians and market cartographers! We’ve talked about the crucial S&R levels in a very serious way, but let’s be honest, sometimes drawing them can feel like trying to remember where you parked your scooter after a particularly festive night in Barcelona.
So, when it comes to deciding between the daily or weekly timeframe for drawing these magical lines, think of it this way:
Daily vs. Weekly S&R: Consulting the Market’s Memory (and Avoiding Amnesia!)
Imagine the market has a memory, just like us. But it’s a bit quirky.
The Weekly Chart (W1): The Wise Old Grandparent of the Market!
What it is: This chart has seen it all! It remembers the big, important family gatherings, the major historical events, the truly traumatic (or triumphant) market movements from years ago. Its memory is long-term, profound, and utterly reliable.
Why we draw here: When you draw S&R on the weekly, you’re tapping into the market’s deep, ancestral wisdom. These are the levels that even the biggest, most institutional “market whales” respect. They’re the ancient city walls of Barcelona – they’ve been there for centuries, seen countless battles, and aren’t moving for just any random price wiggle.
Analogy: If the market says, “I’ve hit this spot every few years since the Spanish Armada, and I’ve always bounced!” – you listen. These are your “grandparent levels.”
The Daily Chart (D1): The Detail-Oriented Cousin with a Good Recent Memory!
What it is: This chart is great for remembering what happened last week, last month, or maybe the quarter before that. It knows all the recent gossip, the minor squabbles, and the little detours. Its memory is detailed, practical, but a bit short-sighted on its own.
Why we draw here: You use the daily to refine those grand weekly pronouncements. It’s where you find the recent little “speed bumps” and “roundabouts” that the weekly chart might just gloss over. It’s perfect for seeing how the market is reacting right now to those bigger levels, or finding new, relevant levels that just formed last Tuesday.
Analogy: This is like remembering where you parked your scooter last night, or which bar had the best patatas bravas yesterday. Crucial for immediate navigation, but not for planning a trans-European trip.
The “Dream Team” Strategy: Because Two Memories Are Better Than One!
So, which one’s best? Neither alone is perfect, my friend! It’s like asking if you prefer an ancient map (weekly) or today’s traffic report (daily) for getting around Barcelona. You need both!
Start with Grandpa Weekly: Always, always, always go to the weekly chart first. Zoom out! Identify those huge, undeniable lines where the market has made significant decisions over years. Mark them like ancient monuments. These are your non-negotiables.
Then Consult Cousin Daily: Switch to the daily chart. Your weekly lines are still there, like sturdy beacons. Now, fine-tune them if needed (did price exactly touch the wick or the body on the daily?). And then, add any new significant S&R levels that have formed more recently, perhaps within the last few months. These are your tactical levels for the current battle.
What happens if you only use one?
Only Weekly: You might miss some fantastic recent trading opportunities because you’re waiting for the price to hit a level it might not reach for another six months. You’re trying to navigate tiny side streets using only a map of continents!
Only Daily: You might jump into trades based on flimsy, short-term levels that a big institutional player (who only looks at the weekly!) is about to smash through without a second thought. You’re trying to drive a bus using only a diagram of a single intersection!
By combining the wisdom of the Weekly Grandparent with the detailed insights of the Daily Cousin, you get a complete, layered map of the market’s intentions. You know where the big, unmovable barriers are, and you also know the current local skirmishes. It’s the ultimate market memory hack for navigating those price swings like a true Barcelona local!
💰Quotes:
“Enter the trade — then sit on your hands like a monk!”
“We don’t click and panic. We click and chill.”
“Traders who wait, get paid. Traders who fidget… donate!”
“We enter the trade, then do absolutely nothing like pros.”
“Let the market work. You’re not its boss.”
💰Normal Tone Slogans:
“Enter with a plan, then let the trade play out.”
“The work is in the setup — the result comes with patience.”
“We don’t babysit trades. We trust our edge.”
“Entry is action. Waiting is discipline.”
“After entry, emotion has no place — only patience.”
Alright, my chart-drawing comedians and market cartographers! We’ve talked about the crucial S&R levels in a very serious way, but let’s be honest, sometimes drawing them can feel like trying to remember where you parked your scooter after a particularly festive night in Barcelona.
So, when it comes to deciding between the daily or weekly timeframe for drawing these magical lines, think of it this way:
Daily vs. Weekly S&R: Consulting the Market’s Memory (and Avoiding Amnesia!)
Imagine the market has a memory, just like us. But it’s a bit quirky.
The Weekly Chart (W1): The Wise Old Grandparent of the Market!
What it is: This chart has seen it all! It remembers the big, important family gatherings, the major historical events, the truly traumatic (or triumphant) market movements from years ago. Its memory is long-term, profound, and utterly reliable.
Why we draw here: When you draw S&R on the weekly, you’re tapping into the market’s deep, ancestral wisdom. These are the levels that even the biggest, most institutional “market whales” respect. They’re the ancient city walls of Barcelona – they’ve been there for centuries, seen countless battles, and aren’t moving for just any random price wiggle.
Analogy: If the market says, “I’ve hit this spot every few years since the Spanish Armada, and I’ve always bounced!” – you listen. These are your “grandparent levels.”
The Daily Chart (D1): The Detail-Oriented Cousin with a Good Recent Memory!
What it is: This chart is great for remembering what happened last week, last month, or maybe the quarter before that. It knows all the recent gossip, the minor squabbles, and the little detours. Its memory is detailed, practical, but a bit short-sighted on its own.
Why we draw here: You use the daily to refine those grand weekly pronouncements. It’s where you find the recent little “speed bumps” and “roundabouts” that the weekly chart might just gloss over. It’s perfect for seeing how the market is reacting right now to those bigger levels, or finding new, relevant levels that just formed last Tuesday.
Analogy: This is like remembering where you parked your scooter last night, or which bar had the best patatas bravas yesterday. Crucial for immediate navigation, but not for planning a trans-European trip.
The “Dream Team” Strategy: Because Two Memories Are Better Than One!
So, which one’s best? Neither alone is perfect, my friend! It’s like asking if you prefer an ancient map (weekly) or today’s traffic report (daily) for getting around Barcelona. You need both!
Start with Grandpa Weekly: Always, always, always go to the weekly chart first. Zoom out! Identify those huge, undeniable lines where the market has made significant decisions over years. Mark them like ancient monuments. These are your non-negotiables.
Then Consult Cousin Daily: Switch to the daily chart. Your weekly lines are still there, like sturdy beacons. Now, fine-tune them if needed (did price exactly touch the wick or the body on the daily?). And then, add any new significant S&R levels that have formed more recently, perhaps within the last few months. These are your tactical levels for the current battle.
What happens if you only use one?
Only Weekly: You might miss some fantastic recent trading opportunities because you’re waiting for the price to hit a level it might not reach for another six months. You’re trying to navigate tiny side streets using only a map of continents!
Only Daily: You might jump into trades based on flimsy, short-term levels that a big institutional player (who only looks at the weekly!) is about to smash through without a second thought. You’re trying to drive a bus using only a diagram of a single intersection!
By combining the wisdom of the Weekly Grandparent with the detailed insights of the Daily Cousin, you get a complete, layered map of the market’s intentions. You know where the big, unmovable barriers are, and you also know the current local skirmishes. It’s the ultimate market memory hack for navigating those price swings like a true Barcelona local!
💰Quotes:
“Enter the trade — then sit on your hands like a monk!”
“We don’t click and panic. We click and chill.”
“Traders who wait, get paid. Traders who fidget… donate!”
“We enter the trade, then do absolutely nothing like pros.”
“Let the market work. You’re not its boss.”
💰Normal Tone Slogans:
“Enter with a plan, then let the trade play out.”
“The work is in the setup — the result comes with patience.”
“We don’t babysit trades. We trust our edge.”
“Entry is action. Waiting is discipline.”
“After entry, emotion has no place — only patience.”