Support & resistance - Let's get creative

On the example that you are discussing with peterhenders you can see that the area/zone that started as a swing hi @ 4017 held as resistance when challenged @ 4005, 4002, then 4009 before the upside breakthrough to a new hi - so it was always going to be a theoretically / provisionally hi-probability place for a bounce on any pullback test from above it per the technical phenomenon of resistance becomes support as it was a swing hi x 4 area/zone (ie a significant area on the chart where swing points occurred) ...and this is exactly what happened. Daily chart below.

Trying to find time to post some charts of trades during the week. There has been 38 trade in 4 days , all winners, coming off support or resistance. From this there is no need to search any further for other methods or additional indicators.
If price rejects any area then that area is well worth analyzing.
Always be on the lookout for old spikes as these areas often repeat the move.
If your in a trade and not sure if it will turn against you then use the previous candle close as a reference point.

good luck all.

I will not flood it here, because i have my own thread with the same running, but for example i post this here.


Watch the red circles closer. As i show i mark strange moves who creates the border, my S&R. The sharp moves have often a small interuption who give a clue what are the level is (yellow line). The level who holds the price in graviation. If i have the level and the borders i wait for price goes out and retest. My order is in this example above the peak (blue arrow).

Support and resistance always become a hot topic in forex trading discussion, this is price level where act like a barrier to preventing price moving further, but how to looking support and resistance there are many ways can to do, using a trendline, pivot point, moving average, etc, a tool like trendline formed fixed support resistance, while moving average formed dynamic support resistance.