Support + Resistance

Hi folks'

I am a newbie to the world of trading and am looking for some advice from more experienced traders. I can't quite work out the support and resistance levels for different time frames on Forex, and I am a bit baffled by terminology such as 'dynamic resistance' and 'dynamic trendlines'. Can you use indicators for this or do you draw these lines on charts yourself?

Support Resistance Video

Hi,

Found this on You Tube....Pretty informative and very practical.


Hope this is of help

Dynamic Trendlines/ S&R

bertie123 said:

Hi folks'

I am a newbie to the world of trading and am looking for some advice from more experienced traders. I can't quite work out the support and resistance levels for different time frames on Forex, and I am a bit baffled by terminology such as 'dynamic resistance' and 'dynamic trendlines'. Can you use indicators for this or do you draw these lines on charts yourself?

Click to expand...

I believe that Dynamic S&R can be defined as changing support and resistance.

For example if you plotted standard trendlines in an uptrend. Covering the top and the bottoms of the prices creating a channe.l Support will be found on the lower trend line and resistance will be found on the upper trendline. As the trend increase your S&R change with each candlestick. That is what I understand to be Dynamic Support and Resistance.

Dynamic trendlines I am not too sure about to be honest. I have never used them (well I don't believe I have) and I was told they have something to do with Elliot Wave and I don't use that either.....So am a bit stumped on that....I am sure they're are others on here who will tell you what they are.

S@r

Guys,

many thanks for your responses to my question........will ow go away and do some homework! Will let you know how i get on.

bertie123 said:

Hi folks'

I am a newbie to the world of trading and am looking for some advice from more experienced traders. I can't quite work out the support and resistance levels for different time frames on Forex, and I am a bit baffled by terminology such as 'dynamic resistance' and 'dynamic trendlines'. Can you use indicators for this or do you draw these lines on charts yourself?

Click to expand...

If you are interested in the classic definition of support and resistance, this thread will likely be of big interest:

http://www.trade2win.com/boards/showthread.php?t=20336
especially posts 5 and 83-92