Thread: The best support and resistance levels

Hello,

I was wondering what you guys think are the best support and resistance levels that worked for you pretty well?

Weekly pivot points make my vote closely followed closely by trendlines on the daily chart. Better than any single s/r degree is a combination of at least one of them meeting at the same stage, known as confluence. Here's an example of a break I watched on the daily EUR/USD chart on the 11 of jan this season and then a close up of the upcoming days price action on the chart. The confluence of the back of the trendline and the daily central pivot was too much for the panic stricken bulls. They knew they had to maintain that trendline but neglected on four attempts to reclaim it. This setup some very tradable price action on the continuation and the afternoon down to todays level. Top down analysis and s/r confluence is all you've got imho

Originally Posted by ;

Hi,

I had been wondering what you guys think would be the best support and resistance levels that worked for you pretty well?

Hi Take a look at the Pic's one by one
this is the illuion of S/R Line's and perform's preety nicely for me on 4-hour chart's

Thanks for the input macdoug and umairs.

@umairs

do you always put your lines points of large retracements and just wati until it gets broken?

Originally Posted by ;

thanks for the input macdoug and umairs.

@umairs

do you always place your lines at points of large retracements and only wati till it gets broken?

Well I alway's foucus U-Shape and V-Shape candle's formation to draw my own support and resistance lines on higher timeframes like 4-Hour's and daily specially(To see my previous posted pic's) and on lower tf's like 30-minutes I utilize trendline's. Anyways read this pdf on U on S/R lines --V Candles contours. Its intresting maybe it will help you .
https://forexintuitive.com/attachmen...9484303545.pdf

Originally Posted by ;

Well I alway's foucus U-Shape and V-Shape candle's formation to draw my support and resistance lines higher timeframes like 4-Hour's and daily especially (To see my previous published pic's) and on reduced tf's like 30-minutes I use trendline's. Anyways read this pdf on S/R lines on U--V Candles shapes. Its really quite intresting maybe it helps you .

ah, thanks. I once had in my folder but never have to read it. I´ll a possess read.

....sorry this post is made by mistake.

Originally Posted by ;

any remarks on your sl? Why is it all there? I place mine @ 1.4274.

My mistake, I had been thinking the red lines in the picture are the S/R levels. No matter, I had been thinking when the price broke the S/R amount, TL a tiny bit before the next S/R level and you place the SL about the amount witch was busted.

Regards,

Bird and I concur, the 123 pattern is as great as any for getting into a situation. For entering, I use it .

Additionally I look for trades around the 4 hour, but I go down into the 5 or 15 minutes to loe the 123. It works for me. The key is not to forget you are trading on the higher frame. It's easy to get sucked to the noise on the levels once the transaction is on someone like you who is having a hard time. As soon as you're at the money, move up to at least the hour, preferably the 4 hour. It is simpler that way.

woh what a massive fall on the eur/usd.

Did anybody took advantage there?

I had 2 winners and one loser up to now on the g/u along with the e/u.