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

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.

Originally Posted by goldensight

Hi Archie 2000, One of the reasons why you may be having problems is that you are using the rules that someone other than yourself created. I would suggest that you consider doing four simple things to help yourself to create better entries and exits.

1. Try using a one hour chart or a 4 hour chart, the higher you go in time frames the stronger the support and resistance levels are.

2. Spend several hours per day and scroll back a minimum of one year and then slowly scroll forward and create your own rules based on the observations of archie 2000.

3. Forward test your new rules/system in a demo account. Use the exact same leverage that you would be using if trading on a live account.

4. Use an honest broker if you think you are having problems with the one that you have. Set up another demo platform with a different company and put on the exact same trades and if your take profits are getting closed out properly in one account but not another then you need to find a better broker if it happens all of the time. But certainly clarify first that it is the brokers fault and not your trading first.

Originally Posted by Archie 2000

That means I use other people's rules for determining the resistance and correction,
Is it so that in the market, they are not all the same?
1. Is it so that there is no correlation between H1 and H4 timeframes?
Or there are different resistance and support levels there, which is dominant?
2. This is how I understand the history testing, that is, I try to see these levels in history?
3. Is it so that it is better in demo, my broker told me that it would be inappropriate to trade on demo. Strangely, he could do so specifically so that I lose? ! !
4. in continuation of the post 3 three can be that actually broker was not honest.
Thank you for your good advices.

Originally Posted by tirou

Hi Archie,
There is no fixed rules in forex.By your experience you will learn lot of things,which you will never find in any books.Develop your confidence, you will surely win in this field.

Originally Posted by sps8

use fibonacci level its more accurate than piovt.sub/res take alook

Originally Posted by talktome

there is 50/50 chance the price will break or bounce back from support or resistance. We never know where the market will go. That is why you need stop loss to protect your capital.