Support / Resistance

What kind of formula you use for support/resistance. Do you use the pivot points? Previous high/low? Moving averages as support/resitance? All of them?
Wich one has worked best for you?



Let's stick with the thread topic

I use trend lines and Fibs to determine the support/resistance. In this pic u'll see that the GBPUSD has been in a down channel. The price pierced the upper resistance line, touched the 23.6 fib and reversed. At this moment I am short from 1.8945. Anticipated TP is when price hits the 25 EMA (Yellow line). I look for confluence as an indication that the SR is valid. I am beginning to think that determining the SR is more 'art' than science'. I have begun a study course on statistical avgs and probabilities and hopefully this will add more 'science ' to my arsenal.

Just noticed this post made me a "Senior Member", maybe that will help my trading

Perhaps not surprisingly, I use the Absolute Fibonacci Framework. When you use all the charts together in the setup, you get a complete picture of the movement, and you can identify strong and weak barriers using a one-time setup. This chart shows a 4 hour candle on the GBP/JPY today.

I almost use a combination of all. I'm a great fan of Fib but very new to Pivot points.

The concepts of support and resistance are undoubtedly two of the most highly discussed attributes of technical analysis and they are often regarded as one of the most important concepts in Forex trading. These terms are used by traders to refer to price levels on charts that tend to act as barriers from preventing the price of an asset from getting pushed in a certain direction. At first the explanation and idea behind identifying these levels seems easy, but as you'll find out, support and resistance can come in various forms and it is much more difficult to master than it first appears.

You can read rest of the article at Support & Resistance

personally, i use support and resistance as the formula for my support and resistance. basic horizontal supp-res zones are probably the only totally reliable thing in the market. can't go wrong there.

[quote=mrgreen;88955]I use trend lines and Fibs to determine the support/resistance. In this pic u'll see that the GBPUSD has been in a down channel. The price pierced the upper resistance line, touched the 23.6 fib and reversed. At this moment I am short from 1.8945.

Chart from post #2

I'm going long from here with TP of 2.100 (I know that sounds crazy)
Then I'm going to bet the farm on a short trade down to 1.3600.
Anyone in with me on this, I have a funny feeling this is a winner

I use these indicators on MT4

I like history Support resistance, remember " History repeat it self ",

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History Level GBPUSD