Question on SR Lines and Price Action

Guys,

I've been tried some systems to trade and finally came to conclusion that the most suitable for me is the use of S n R lines, and also what I believe is called "Price Action".

I sometimes (well, most of the time) still confuse on how to draw the right S n R lines, as almost every tick seems to be S or R lines. And how to define whether the price will break the line, or bounce away from it.

Will somebody (who really understand the stuffs) kind enough to inform me where to learn those? Like what thread I should read, or books, etc. But no 1-on-1 mentoring please, because the price is too expensive for me at this moment.

Many thx!

Jimmy

you and me both..i use pivot indicators that show monthly, weekly, daily pivots to help me out...but still would be nice to have S/R skills

I dont know if it is out of your price range,but the james16 PF would be ideal for you. Well worth the money, and I bet that you will be a better trader after you go through the info. Good luck.

RSQ

I actually thought about using SRDC method of drawing resistance/support lines. I would draw horizontal lines on open,close,high,low on the last candle on monthly and weekly. And use candlestick formations on daily for set-up. I just thought of it today We'll see how this plays out. I feel this way, s/r is more mechanical rather than subjective. I also add in monthly and weekly pivot indicator on there

Many thx for your reply guys,

I'm really sorry for this very late reply. I've been wanted to reply since day one I received in my inbox notification from you guys. But there's this connection problem due to Taiwan's earthquake (I live in Indonesia, by the way). When this morning I'm able to open the factory, I'm glad.

Once again, many thx for yor reply.

How much is james16 cost?

Jimmy.