DislikedThere is NO support or resistance per say.
in the sense that price wont really respected. this is psycological game, support/resistance HELPS identify SUPPLY and Demand.
look at your 1 hr chart and draw a line of where has price stopped moving up or down. I believe, that the longer time frame will give you a clearer picture.
but you could identify this areas in you 1 minute or 15 min or 5 min chart. where has price stopped falling, and moved up, where has priced topped.
THEY OFFER NO RESISTANCE AND NO SUPPORT
they merely help you gauge supply...Ignored
but after changing from stocks to forex,
i do not draw sup res lines, only fibs and some trend lines..
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