This chart of GLD shows the long term trend and intermediate trend. Notice how price made a pivot low at the long term trend support, the arrow pointed to this 'target' and now price is up to 'resistance'. Look at the signals from ADX/ DMI. The black arrow shows the best entry and time for profit. The new high in price was an entry with ADX/ +DMI agreement. Once price broke the top trendline, lower ADX indicated 'weakness'. ADX/ DMI rules from Dr. Schaap will make you a better trader. Support and resistance can be framed out with trendlines and indicate to professional traders expectations for price.