How to use Support and Resistance Effectively - page 79

emcs2
48
emcs2  

Here is a good instructional video on how to draw support and resistance levels.

witsnpips
158
witsnpips  

learning how to draw them is one thing, learning how to use them is yet another.

XKR1962
60
XKR1962  
witsnpips:
learning how to draw them is one thing, learning how to use them is yet another.

Haha, so true.

emcs2
48
emcs2  
witsnpips:
learning how to draw them is one thing, learning how to use them is yet another.

witsnpips,

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. -

Perky
971
Perky  

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

comments please

and is anyone can work out how to make it place just 1 rrow id be interested to know how -

Mladen Rakic
153815
Mladen Rakic  
Like this?
Just replace the one from your post with this one if it is what you had in mind

A nice weekend to all

regards

Perky:
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

comments please

and is anyone can work out how to make it place just 1 rrow id be interested to know how -
Files:
Perky
971
Perky  
mladen:
Like this?
Just replace the one from your post with this one if it is what you had in mind

A nice weekend to all

regards

you never cease to amaze me mLaden thanks!

aint it the best idea tho

kcadelina
12
kcadelina  

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.

seantrade
91
seantrade  

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.

Sow Behl
25
Sow Behl  

great thread!