Support and Resistance Points

What is the most common/beginner method for determining the support and/or resistance points of a particular pair?

I'd like to know this as well.

Look on the 1 hr charts and find reversal points. If price bounces off a price area you can safely assume there is support (resistance) at that level.

Does it also mean that a possible stop might have been placed just below or above that area ?

Potentially. Depends what is going on...

You might also try looking back at the high/low of an arbitrary number of bars. The high/low in that "box" will be support/resistance. It's important to remember that the longer a high/low remains intact without being broken the stronger the support/resistance. This would mean that the more bars you look at, the stronger the support/resistance. So a break of the high/low of 30 bars would be more significant than 10 bars.

Thanks all for the information, keep it coming.

If I'm using a 24 hour chart then I look at repeated highs and lows over _more_ than a one month gap. This allows traders to put more and more stops at these points. If it's only a day or three then there haven't been as many people putting stops on and support or resistance will be weaker... So I'm told at least

On my five minute charts I look for repeats any time with in the last 24 hours.