Learn: How to Trade with Support and Resistance !
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  1. #1
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    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

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    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.


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

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    [lang=id]support resistance is the point for traders to set the position in the market, this is a good thread, and give me more information and knowledge about support resistance, but will you please share how to know the next movement after there is a flat position / sideway ? do we need the higher time frames as the guide the next movements ?[/lang]

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    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.

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    Last edited by Gamer; 12-12-2013 at 07:54 AM. Reason: flooding

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    Quote Originally Posted by taharoyal52 View Post
    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.
    I agree with you and I want to add some think with you. If you are a newbie then you may follow then bollinger band indicator. It works good. You can trade with drowning trade line trade. So practice more to get success.

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    Quote Originally Posted by taharoyal52 View Post
    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.
    All of your examples in your screenshots are clear enough to explain how to trade properly using support and resistance with daily time frame. i actually think the same way about this that market could move according to our analysis when we find many confirmations from candlestick patterns, support resistance area, or even trend line. it's true that we could get our analysis accuracy increased when we see reversal patterns near support and resistance areas but for safety reason, we must not forget to place stop loss just in case to avoid anything bad happens.

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    Quote Originally Posted by Rylai View Post
    All of your examples in your screenshots are clear enough to explain how to trade properly using support and resistance with daily time frame. i actually think the same way about this that market could move according to our analysis when we find many confirmations from candlestick patterns, support resistance area, or even trend line. it's true that we could get our analysis accuracy increased when we see reversal patterns near support and resistance areas but for safety reason, we must not forget to place stop loss just in case to avoid anything bad happens.
    One common confirmation I see the candle will give to us when we are serious about trading with the candle stick pattern is that we get to see the candle react to a previously tested level, then we get to verify that it is valid. The support and resistance trading is a general way of trading. Because any strategy we are making use of, has one or two things to do with the support and resistance levels.

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    Quote Originally Posted by Real View Post
    One common confirmation I see the candle will give to us when we are serious about trading with the candle stick pattern is that we get to see the candle react to a previously tested level, then we get to verify that it is valid. The support and resistance trading is a general way of trading. Because any strategy we are making use of, has one or two things to do with the support and resistance levels.
    True, I am a price action trader and Know about this a lot in the market, to make most of our trading strategy works. We need to see how effective the use of support and resistance could be to all the method by which we are making use of in trading. Support and resistance are the back bone of any strategy I have ever learned to make use of.

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    Wow this is good the pictures explain it all this what traders need to learn concerning trend lines and how to draw them, i see how price react from each point and the way candles breaks out the trendline. Its self explanatory well done.

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    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.

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