Interesting Fact About Horizontal Support/Resistance

Lets build the Fact
here i attach 1 pic of Daily chart GBP/USD
The challenge is:

1. Draw Horizontal support(s) & resistance(s) level(s)/zone(s)
2. Please desribe those S/R ( i mean on what reason you take that point as S/R. Price extreems? or 3 bar reverse or what? )

I hope everyone here can be part of this

After min 10 ppl post their horizontal support resistance, i will make another thread about trendlines fact...

http://img301.imageshack.us/img301/4716/60954415.gif

this is mine
http://img261.imageshack.us/img261/6914/52714296.png

I don't know if you are still around but I like your post,
it's to bad you didn't get any reply on this interesting stuff.
Good luck

I would need to see other time frames.

There are so many sr lines everywhere. Which ones are good and which ones are not ?

I will be happy to post some trendlines,
just let me know if you are still around?
otherwice it's no point of continuing this thread

OK, my pic will be number two off the block as this subject interests me. I think my pic is self explanatory. The chart and time frame are the same as Ricx.

I clearly prefer the Close price for my SR's, and I prefer to place them on a Daily chart and then take them down to lower TF's. The H and L's can be used to form a "band level" as some folk seem to prefer. I prefer to keep my charts simple and uncomplicated, so I minimise the number of levels, usually no more than three.

I hope others will follow thro on this exercise.

OK Here is my ideas on SR,
insted of drawing them from the absolute highest or lowest high or low,
Im adjusting them based on how many times they been hit,
for me this make them more valid to be support or resistance,
hovever, I realise it can be two sr levels close together,
example on the pic, B is the highest but I adjusted the line until it hit the
two other tops at A ad C because to me it seems that on B price overdid it self pushing above the prior resistance.
personally I don't use the close,
Im not saying thats the wrong thing to use.
D and E seems to be ok

Tnx roughrider,

Can you tell us what your charts are please? Time frame and pair?

Thanks mate ...

I really don't remember,
I just grabbed a chart, I think it was 15 minute but it really don't matter,
SR work the same on any timeframe