Nearly every single technical based trading system will rely on you – the professional Forex trader, having the ability to correctly draw support and resistance levels on your price charts.

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The best way to draw major Support & Resistance in trading

Knowing how to properly identify and draw correctly support and resistance on the chart could give you a trading edge. Even if it’s possible the lines to be drawn on any time frame I also avoid drawing them on time frames less than an hour as too many lines could be very counterproductive and obstruct the study of the Price action.

What happened to the images?

If I may Share my view,
I believe every trader draws different lines.
I trade completely differently,
I noticed in the article it stated to give you an edge over other participants....I might be wrong , but I took this to mean an edge over other retail traders.
To me , it is not about other retail traders , it is the market movers that control the direction of the market.
Market movers I believe have one thing on their mind,they control where the market goes..they fill orders and get their liquidity,while making big profits along the way.
I try to watch and figure out where they are going and jump in and out on their coat tails so to speak.
I do not use lines....rather I look to the left of price continuously to see where the most probable filling orders will be.
Do not get me wrong ,I am not saying that drawing lines is not beneficial,I am just saying how I trade.
I believe , once again this is just my opinion, that it is better to have a chart that every one else is looking at , rather than seeing something that no one else sees.
The way I look to left is:
I load up fractals and use the attached indicator as a horizontal AussieBeau

"I believe every trader draws different lines." I see the opposite, the more experienced two traders are, the more converges their lines and especially the S/R zones. When you have a Double Bottom there isn't much range to draw another level. With a market profile the same. If you take indicators for TLs and S/Rs you'll never see the turning points, because the indis let you look on the wrong places and then people say it's useless.

I don't read that the article will give an edge over other participants. It says that many people think they have one when they over-complicate trading. Trading is very simple and so one should keep it (not easy but simple). The more difficult the setup is, the less you can see where the market will go next most likely. To follow the Market Makers is your edge over the market and S/R zones are often points of high interest.

UNDERSTANDING SUPPORT AND RESISTANCE

Support and resistance levels are proven price areas where buyers and sellers find some form of equilibrium. We generally see a shift in the balance of power between buyers and sellers occur at these levels – this ‘power shift’ generates the classic price reversal patterns we are always on the look out for.

Therefore true support and resistance levels are the major turning points in the market.

Thank You for your feed back on my post.
I knew it was controversial..
As I stated a few times..this is just the way I trade..every trader trades differently.
On some points I agree with you, on others I think we will just have to agree to disagree.
The main message I wanted to convey with my post was this:
It was for the benefit of new traders.
I honestly believe that too many new traders concentrate firstly on placing lines on their charts without understanding why they are drawing them...like the old saying putting the cart before the horse.
With a new trader I always get them to pull up a clean chart , place the line indicator and the fractals and just spend the day watching where the price moves and stops.
They will start to see patterns forming and will start to see how it works...after they feel they have a solid idea on what they are seeing , I then allow them to add a line or 2 so they can test their own observations. rinse and repeat.
As a matter of fact..I still do this looking left exercise before I start trading of a day.
They then get ideas on what extra info they need to help them make decisions..some will draw more lines and some will look to an indicator that will supply the extra info for them. They then go onto developing their own styles.
Their is no right or wrong way..we all trade different.
But I have quite frankly been dismayed by the amount of info out there ( please note that I am not referring to this forum)..that tells new traders to be successful they have to trade this way and they have to have this and that on their chart..absolutely confusing to a new trader.
You are a seasoned trader , so I am sure that we would both agree , that a new trader has to be able to understand why he is putting anything,whether it be an indicator or a line on his chart.
The main thing a new trader needs to concentrate on,before learning about trendlines etc is to learn what the chart is telling him.
I always explain it this way to a student..treat the market the same as a crocodile or a woman , at some point all 3 of them will want to kill you , so make sure you have a solid basic knowledge before getting involved.
AussieBeau

This guide is ok maybe also for older traders, but there are no images and when text refers to them it's quite useless. I always thought the guys here take care in not saying take this or do that in this way. We try to give ways how you can look on a chart, no trading systems. Some say don't use indis at all, Wulong (a guy here in the forum) uses up to 40 indis and is successful, and some don't use charts (a DOM is enough). All of us read a lot of stuff and will read, my learning curve isn't at the end and nobody should be ignorant to say he knows everything. Even guys who traded 15 years still learn things. I said a few times to myself that same approaches don't work for me (e.g. divergences, but I erroneously took indis for that) and now they are a fix point in my system.
I think we can make a note: Find your own trading system and plan and

" I always thought the guys here take care in not saying take this or do that in this way. We try to give ways how you can look on a chart, no trading systems"

I agree , I made sure that I mentioned , that I was not referring to this forum.

" Some say don't use indis at all, Wulong (a guy here in the forum) uses up to 40 indis and is successful, and some don't use charts (a DOM is enough)"

Yes, I hope I did not give the impression that I was for indicators or against them..as a matter of fact at times I use indicators and sometimes not.

"All of us read a lot of stuff and will read, my learning curve isn't at the end and nobody should be ignorant to say he knows everything."

Wholeheartedly agree , I certainly hope you did not think that I was saying I know everything..far from it.

"Even guys who traded 15 years still learn things"

This I can absolutely say is true....I learn from my students all the time....I certainly would not ever trust some one with anything valuable , who thought that they knew everything.

" I said a few times to myself that same approaches don't work for me (e.g. divergences, but I erroneously took indis for that) and now they are a fix point in my system"

Exactly , at times I use Indicators , agree , they certainly play a part...must admit I am very partial to the WPR.

"I think we can make a note: Find your own trading system and plan and nothing is written in stone"

I totally agree completely with that statement.

On a final; note:
I can see that I am not very good at expressing my meaning clearly as I should.
I remember,when I was a young teen , I was beating myself up about something stupid I had done.
My father , came to me and asked me what was wrong.
I said " I am completely useless , I am good for nothing"
He looked at me and with compassion he said
"Billy You are not useless ,You can always be held up as a bad example"
AussieBeau

bilbao wrote: Thu Apr 27, 2017 12:15 am Nearly every single technical based trading system will rely on you – the professional Forex trader, having the ability to correctly draw support and resistance levels on your price charts.

Bump. This is a good article but what happened to the images Bil! Have you still got them?

Tom_23 wrote: Sun Mar 29, 2020 11:25 pm That's really well explained!

I agree, beginners can learn a lot from this forum.