Learn: How to Trade with Support and Resistance !
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Thread: Learn: How to Trade with Support and Resistance !

  1. #1

    Learn: How to Trade with Support and Resistance !

    In this thread, i will be sharing my charts, old as well as new, so that people can get benefits , and i could teach them how easy it is to trade with price action. Of course, support and resistance trading strategy is also a part of price action as well. Please kindly learn from my charts, and spread your knowledge . And if you have any questions, do ask me with your charts shared here. Thank you

  2. #2
    Date when the analysis was done by me: 31st August 2013

    Old chart, only for friendly sharing to make new traders learn how to trade support and resistance.

    Timeframe: Daily
    Pair: NZDUSD

    This was an old chart of NZDUSD. You can see i market the support and resistance with blue box. Support is formed on down side. ANd resistance is formed on upside.
    Its very easy way to trade. You can see that market was near a good support region, so we can get some pips . And if market broke down, we can also get some good pips on the down side as well. So support and resistance trading gives good positive pips on both sides. While the stop loss is very very less.

    OLD CHART, Dated 28 August 2013
    Pair: USDCHF
    Timeframe: Weekly

    I found this chart on my computer, and thought to share here in this thread. Although it is very old chart but it was a best example to give here. You can see that it was previously a good support and then it becamse a good resistance . So this are very strong zones to trade with . And either breaking or downtrend would give lots and lots of pips.

    Date of the chart when it was analyzed and shared here in this forum:
    01st september 2013

    Pair : XAU USD
    TIme frame: DAILY

    This is an old chart of XAUUSD (GOLD) pair. You can see clearly in the chart above that the puple box was a good resistance before but then after it was broken, market moved some pips up and then it retraced forming a resistance . If there is sign of reversal we could trade for upside. Or if the support breaks, then we can trade on the downside to make good pips. Stop loss is the box's low while take profit is 2X size of the box.

    The above chart was of USDJPY , analyzed in the daily time frame at 14 Nov 2013.You can see that i made resistance here . When you see that market has reversed from that area, you either call them support / resistance. The more times the market has touched and reversed that region, the stronger the support/resistance region it is.

    This chart shared below was of GBP JPY analyzed in the daily timeframe. I analyzed this pair on 14th Nov 2013 and shared the chart here in this forum as well at that date .
    You can see market was a good strong resistance point here in this pair. And the running candle didnt closed aboved resistance making the resistance more effective. So we can take a sell opportunity and our tp could have been the near term support.
    Secondly MAZD momentum was also facind.
    And thirdly RSI was showing overbought region , making this trade a triple confirmation one.

    Last edited by Gamer; 12-12-2013 at 07:55 AM. Reason: flooding

  3. #3
    Experts says that when a candlestick reversal pattern is formed near a strong support/resistance region/areas/zones , then the chance of reversal increases. So in this chart shared below, had double confirmation. This chart was of USDCAD pair analyzed in the daily time frame. There was a good bearish formation ( candlestick pattern ) and secondly there was a good resistance near that area/region where market made the bearish rejection. So , we went for a sell and got good pips.

    Once again there was a pin bar formed at a good resistance area.

    This chart was of EURCAD posted here in this forum at 15th Nov 2013. This chart had double confirmation. Firstly there was a pin bar . And secondly there was a good resistance region near where the pin bar was formed, making this double confirmed trade.

    This chart was of: 15th Nov 2013 of pair: AUD USD and time frame: h4
    In this chart i have identified a support and a resistance region. Market at that time was sideways. And after sometime , there was a good break of resistance and market then moved lots of pips up . Even i was also in buy ride and got good pips also.

    This chart is of AUD/NZD pair analyzed n the daily time frame. I had analyzed this pair on 19th November 2013 and i also shared it here with my friends .

    Market was touching the support 4th time. This means that market had already touched the area 3 times before and it reversed from this region making this area a good support.
    So support/resistance traders can easily buy from here and stop loss should be the low of the yellow box while take profit should be open. And if the support is broken , then they can sell and stop loss should be above yellow box.

    Date when analysis was done: 19th Nov 2013

    The chart shared below is of CHFJPY in daily timeframe. This is a good resistance region and market has just touched the reistance and closed below the resistance. If you are a support/resistance trader, then you can get a good sell opportunity from here as market is likely to create a triple top formation which is good for sellers. And if market breaks this resistance, then we traders could go on the buy ride.

    This was an old chart of date, 20 th Nov 2013 . There was a triple top in the daily time frame which is a good resistance region. We could take a selling opportunity from the resistance regio while stop loss could be of +50 pips above the region. And if the resistance gets broken and a daily candle close above the resistance, then we can opt for buy for good pips.

    This chart was of 20th Nov 2013 as well. There was a nice support when market was trading in this region. After analyzing , i got to know that on the support, a nice head and shoulder pattern was forming which made this trade double confirmed as well.
    Last edited by Gamer; 12-12-2013 at 07:54 AM. Reason: flooding

  4. #4
    Join Date
    Sep 2013
    This is trend line own, There are several ways that the support and resistance trading can be formed, it can also be formed naturally on the sharpness of the upper candlesticks or the lower candlesticks, the main thing about it is for the trader to know what the market might do and leave it to do it with a little risk with it. It is a very strong point in the market.

  5. #5
    Every trader must know how to trade with support and resistance if they want success. Support and resistance points are pivot points where market trend could either end or start and they are very good points where entry buy or sell signals are generated.

  6. #6
    Every investor must know how to business with assistance and level of resistance if they want achievements. Support and level of resistance factors are rotate factors where industry pattern could either end or begin and they are very excellent factors where access buy or offer alerts are produced.

  7. #7
    Registered user
    Join Date
    Sep 2013
    Quote Originally Posted by jonking View Post
    Every trader must know how to trade with support and resistance if they want success. Support and resistance points are pivot points where market trend could either end or start and they are very good points where entry buy or sell signals are generated.
    I think all traders must know about support and resistance level as consideration in making decision because it's basic of trading strategy which we must know to open and close position in the right timing to maximize profit and minimize loss. There are many ways to set Support and Resistance level but the range of support or resistance could be similiar.

    I think it is right if support and resistance will be needed to be successful in forex trading because support and resistance can be used for limitation profit and loss, also it can be used to set pending order.

  8. #8
    Join Date
    Nov 2013
    With this explanation, it is not the arrow of this that says of the resistance and support, but the point of historical data of the trades. You can make points on the support and resistance on majors lines of the market too. How could forex trading be like if there are no points lines, this, i believe that market will be running to the trend for ever.

  9. #9
    Join Date
    Aug 2013
    UsdCad is currently trading near a good resistance region in the weekly time frame. we can sell near the resistance market with red horizontal trendlines but only when there is a good reversal pattern formation in at least h1 chart but it would be good if we find reversal pattern in h4 or weekly chart. wait for the weekly candle to close below the resistance . if it closes above the resistance then this setup would become invalid.

    Attachment 3353

  10. #10
    in the business of trading is not easy , here many new trader not get a best information and knowledge just do work start with any practice or knowledge so they are must get information and do practice on demo , and the best is learn to trade with support and Resistance so they make money easily in that business.

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