How to obtain resistance and support effectively

[tradebetter]

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

[tradebetter]

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

Pivot Point Calculator

[speres]

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.

Pivot Point Calculator

[15jeff]

If you want to calculate the pivots points, Resistances, Supports, you can use any of online pivot calculates.

Pivot Point Calculator

[FibMaster]

Fibonacci techniques are easy to learn and will give you superior support/resistance levels. Explore Fibonacci, you'll benefit from it.

Forex Training Courses

FibMaster's Fibonacci Training Videos

[jossyfx]

IF anyone need indicator for automatic fib and resistant point, i have indicator for that, it will show on your chart automatically

Forex Auto Trading

Indicator Based Forex Systems

FibMaster's Fibonacci Training Videos

Originally Posted by tradebetter

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

Pivot Point Calculator