Quote:
Originally Posted by prasxz
I use S R too but mix with higher time frame then down to lower one ...before you decide to take a position ..first determine a global trend then local trend ...take only position with same direction with a global trend ... 
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Forex Indicators Collection |
As a matter of fact - I've tried using S/R lines as entries but I traded against trend if the line was not taken. Its good if the market is slow and ranging. But it eventually killed my demo so I stopped. That was few years ago. S/R lines work but should not be the only trading tool in your arsenal. During trend moves S/R lines are ignored so you can follow the trend when S/R line has been broken and price closed above/below resist/support.
You can use
http://www.forex-tsd.com/manual-trad...ding-pack.html
this template for trading signals.