Support and Resistance .... Discussion

hi


Support and Resistance are the most important points on which we are deliberating which forex


Speculators disagree in identifying those points which causes disparities in professional analysis for each of them


The members want us to explain the best points of support and resistance, with the presentation to the Chart



How can we determine the support and resistance accurately ??

Supports and resistances can be many things... The main ones I look out for are pivot points, Fibonacci retracement lines, moving averages, trendlines and previous lows and highs.

I also look at chart patterns like double tops and double bottoms and head and shoulders patterns.

Right now the EurJpy is comming into aboub an 100 pip range area where it had about 7 weeks of resistance until it broke up. Also it is trading 500 plus pips below its week of July 8 high and 16 year high of 168.95

S/R levels based on daily candles high and low s/r levels. Broke by about 100 pips a previous strong hold several weeks ago, see previous posts. Weekly Resistance based on current low holding and the yearly (WAR) weekly average range of 340 pips. Possible new resistance level between the horizontal lines of 166.04 and 167. The red vertical line through yesterday's daily candle shows the 340 WAR.