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aahg1223
10-17-2007 07:12, 07:12 AM
Hello again people
https://www.tradingintuitivo.com/attachments/1594396790.jpg

could someone please tell me away quck and simple way of determining support and resistance levels, i am trying to learn to trade with as feww indiors as possible (only using candle charts at the moment.) and although i am about breaking even at the moment i feel knowing the S@R levels of a session would be helpfull in weeding out rougue candles!!

I am currently using Oanda and am not sure wether the platform can do this automatically for me or not.

All help most apprieciated as always
https://www.tradingintuitivo.com/attachments/1594396799615352818.png

Good luck to each and all of you!

aahg1223
12-13-2021 04:03, 04:03 AM
Would i be right in thinking that ploting of S@R levels is not an exact science? where you draw the lines on the charts are they approximate levels or exactly worked out points. Sorry if that sounds stupid but i really want to get this right in my head!! Thanks again
https://www.tradingintuitivo.com/attachments/1594396792.jpg

dpm55
12-13-2021 05:24, 05:24 AM
Great expliion peterfm

borjaEC
12-13-2021 06:45, 06:45 AM
Treat these as key areas. Don't assume that a S/R area is no longer valid just because it goes back into the mists of time. Check any chart and see how these areas repeat after years of trading.
This is very true.. I remember when GBP/USD broke the $2 barrier a few months ago. The highs back in and 1991 and 1992 acted as resistance. We only had to look this far back because that was the last time GBP/USD was so high.

chuzgamoy11
12-13-2021 08:05, 08:05 AM
Find all areas where price has made significant reversals of direction, and stick a Line on the chart. You can refine the positioning by going down to Daily - 4hr charts. Treat these as key areas. Don't assume that a S/R area is no longer valid just because it goes back into the mists of time. Check any chart and see how these areas repeat after years of trading. See attached
https://www.tradingintuitivo.com/attachments/1594396790.jpg
https://www.tradingintuitivo.com/attachments/1594396791.jpg

borjaEC
12-13-2021 09:26, 09:26 AM
Common support/resistance areas are pivots, fibonacci retracement lines and trend lines. Pivot = (high low close)3 Trend lines must hit two points on a chart Fibonacci retracement lines are drawn from the top to the bottom of the recent range, they can also be drawn the other way round. hope this helps

Sevecremita
12-13-2021 10:47, 10:47 AM
Horizontal levels of support/resistance: previous swing high/lows, double top/btooms, ranges upper/lower bands, etc.