One important rule to perhaps bear in mind when you are looking at a potential trading level is that it has more strength if it includes both a previous and an expected trading level. This means that if you have a Fractal, this would count as a previous level because price has already reacted to it in the past but if you have a new daily pivot this is an expected level since price has never reacted to that daily pivot before BUT because it is a pivot point we would expect some kind of reaction there if price should hit it.
On the whole Fibonacci and Pivot points tend to be mostly expected levels because they are constantly being updated.
Previous S&R, like the types we have mentioned in this section i.e. Fractals, would be classed as previous levels since price has already reacted to them.
However occasionally there will be times when a weekly or monthly pivot point for example, has already been tested by the price and then price approaches for another re-test, in these circumstances this pivot would be viewed as a previous level NOT an expected level and the same for Fibonacci.
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