Source of your Resistance and Support

I am new with forex. I know that there are alot of ways to find out alot of resistance and support point. Should I focus using the resistance and support information provided by dailyfx or some other forex website since most people may rely on them?

practice different peoples projected resistance and supports on several demo accounts. A different account for each different person projecting. That way you get an idea of who is more correct... if that helps????




Mike...

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I think the best thing to do is to learn the tools most traders use for support and resistance(i.e. channels, trendlines, pivot points, fib lines, etc.), and develop your own system to find S&R and how to trade them. It may take longer to develop and implement a winning system, but at least you don't have to rely on someone or a company who may not be there down the road. If you have questions on how to use some of the tools mentioned above, there's plenty of free information on the internet, or just ask any of the forum members, including myself. We're all here to help.