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  #1  
Old 29th-June-2008, 18:27
tradebetter tradebetter is offline
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Talking How to obtain resistance and support effectively

Hi, I have traded forex for 3 years, and I never used or knew how to calculate and obtain a set of resistances and supports for my trades as I only used MACD, RSI, so I would like to ask if anyone can kindly explain to me how can I find the different resistance and support levels?

Thanks
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Old 30th-June-2008, 05:19
tradebetter tradebetter is offline
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Default Re: How to obtain resistance and support effectively

Let me explain more clearly, I mean if I am doing 30 min chart for my trades, when I use the Pivot point tool to search for resistance or support, how can I do that? Do I go the 1hr chart and enter all data for the previous day's candle? or do I calculate the average resistances and supports from the previous 3 days in daily graph? Can someone please help me out?

Thanks a lot!!

Tradebetter
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Old 5th-July-2008, 00:52
speres speres is offline
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Default Re: How to obtain resistance and support effectively

I trade supp res but I only use price levels, no pivots or anything like that. I draw them manually. After a fair bit of practice you can train the eye.
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Old 25th-March-2009, 09:57
15jeff 15jeff is offline
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Default Re: How to obtain resistance and support effectively

If you want to calculate the pivots points, Resistances, Supports, you can use any of online pivot calculates.
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Old 10th-November-2009, 18:00
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FibMaster FibMaster is offline
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Default Re: How to obtain resistance and support effectively

Fibonacci techniques are easy to learn and will give you superior support/resistance levels. Explore Fibonacci, you'll benefit from it.
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  #6  
Old 25th-January-2010, 09:52
jossyfx jossyfx is offline
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Default Re: How to obtain resistance and support effectively

IF anyone need indicator for automatic fib and resistant point, i have indicator for that, it will show on your chart automatically
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Old 15th-June-2010, 07:57
scottshubert
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Default Re: How to obtain resistance and support effectively

Quote:
Originally Posted by tradebetter View Post
Let me explain more clearly, I mean if I am doing 30 min chart for my trades, when I use the Pivot point tool to search for resistance or support, how can I do that? Do I go the 1hr chart and enter all data for the previous day's candle? or do I calculate the average resistances and supports from the previous 3 days in daily graph? Can someone please help me out?

Thanks a lot!!

Tradebetter
If you have a pivot calculator it will work best to use the previous day's open high low and close. It makes a big difference whether the open and close are calculated on 5:00 EST or midnight. you can test them side by side and see that the midnight calculations work better or open and close are around London. Nevetheless using pivot points is a real distraction from entering and exiting a trade for more meaningful reasons. After thoroughly testing pivots for a year I now never use them
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Old 15th-October-2013, 13:43
mehulsoni mehulsoni is offline
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Default Re: How to obtain resistance and support effectively

Fibonacci Retracement will surely help you. As the resistance and support level is decided by the Fibonacci Ratios, they are quite effective in trading. The highest point and the lowest point in the chart will be mainly considered to get this ration. We can get this ratio by dividing the vertical line created by the Highest and the Lowest point with the key Fibonacci Ratio.0.0% is the point from where market starts to retrace & 100% is the complete reversal point to the original point. After finding these levels, possible support and resistance level can be identified with the help of an horizontal line.
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Old 8th-May-2014, 07:55
goku9000 goku9000 is offline
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Default Re: How to obtain resistance and support effectively

I really hope someone can post a chart on how to find support and resistance properly. My trading style is using bollinger bands and movving average but i'm not that consistent yet. A knowledge in support and resistance will really helps a lot. Thanks
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  #10  
Old 23rd-November-2014, 14:44
mogul mogul is offline
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Default Re: How to obtain resistance and support effectively

Trader defines a flat market with clear support and resistance levels. Trading is within the range until price breakout. Stop loss is put outside the channel.

in short support resistance are meant to envelop sideway price market movement, once it breach the channel we can consider to put an entry trade.
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