I agree with your rationale...the way you define your S/R based on price levels, more so the horizontal S/R. I don't give much weight to the "lower technicals" in terms of predictive value since they lag and can turn on a dime as witnessed by Thursday mornings price action in Dec corn at 8:30 am. What you've said makes perfect sense to me concerning entry points based on S/R. If I were not already short this market, I would definately not be entering short (yet) based on what I see now. The point I wanted to make in my prior post was that sometimes the manner in which price levels are taken out might should be considered before a person takes a position or liquidates one....in my case..it caused me to hold my short , rather than liquidate in a fear based reaction. Of course I am not saying it won't trade higher from here. It certainly might (and with my luck it probably will). I'm trying to convince myself that there is some logic behind my decision to hold this position I'm in. But my belief is that there is no place for (much) logic when it comes to trading these markets that are extremely random. It doesn't take much randomness to nullify all logic.
In any case ...thanks for what you do Trades