Here is a good instructional video on how to draw support and resistance levels.
learning how to draw them is one thing, learning how to use them is yet another.
Haha, so true.
I agree with you totally. Here is a video that helped me learn how to trade support and resistance. Support and resistance by itself is not particularly useful, but when you combine it with a price action signal, or another trading signal, it takes on a whole new importance and power. This is called trading with "confluence", I didn't really get this concept until watching Nial Fuller's videos on YouTube, the above video is one of my favorites. -
Support/Resistance breakout indicator
I have long wanted to do this
it might be of interest to some one
places arrows where Barrys support resistance lines are broken
If dearly love to have just the one arrow! but as the indicator moves around its hard for me to work out
it uses barrys support resistance indicator and seems better on longer tfs
yes yes another usless indicator by perky lol
and is anyone can work out how to make it place just 1 rrow id be interested to know how -
A nice weekend to all
you never cease to amaze me mLaden thanks!
aint it the best idea tho
You might also wanna try combining support and resistance with Fibonacci retracement levels, especially when the market is trending. Or you can also watch out for "break and retest" scenarios when support breaks and it turns into resistance and vice versa.
Another good way to use S&R levels is by trading the "fakey" setup, as described by Nial Fuller, this setup can be very profitable and accurate.