hi, say if im looking at finding swing trading opportunities.
I hear i need to really understand and study sup & res concept.
How long on the time frame should i be using to find the sup and res levels?
this depends on you trading timeframe, if you are looking to make a trade over the long term, you may want to locate support and resistance off of a daily or weekly chart, if medium terim, it might be 4hr and daily charts, if short term 1hr and 4hr charts...
Would i need to draw the sup and res levels myself?
or does software do it for you?
its not hard, look at a chart, swing highs and lows are where you will find areas of support and resistance. price goes up, hits supply and reverses. price goes down, hits demand and price reverses.
How would i find the sup and res levels?
Ive read the relevant chapters in the books.
these levels are areas where price is struggling, to go past, it may 'test' it several times before breaking through it to 'test' further S & R, or it might sharply reverse in the other direction once hit.
WOuld i just visually look to see where two lows or two highs happen?
and then roughly find something like tthat?
roughly, yes, it is not an exact science, it comes with practice and observing the market, it is very subjective, but elementary as far as trading goes. each trader sees these levels differently based on their trading time frame and their view of the market. but generally, they are not hard to find the more you follow
thanks.