Originally Posted by Nicholas 2001

And that is why I wrote it all. You have raised one of the major issues on the Forex market, and not only on Forex. This is about how to precisely find levels of resistance and support.
I’ve read a lot of literature at certain time and saw that each author has its own criteria for determining levels of support and resistance.
Some use formula calculations; some take those levels of Fibonacci, some use maximums and minimums.
And there is no agreement between them.
I, too, in due course, for a very long time drew levels of resistance and support as you did them.
Until came to the real trader’s site Masterforex-V : Three books about FOREX. Trade secrets from the professional trader. .
After reading his book I realized a lot and not just support and resistance levels, but also how to trade profitably.
I began asking him by mail and he told me little bit more than is in his book and told me he is still in process of writing other chapters.
Now I am very grateful for what he has helped me greatly at the time when I had lost my hope of earning with Forex, he returned me my self-confidence.

Here is the direct link about support and resistance levels.
Masterforex-V : Three books about FOREX. Trade secrets from the professional trader.