Support/Resistance

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Sep 9, 2010
41
1
18
Compton, Ca.
#6
If I am trading off of the 1 hour time frame should I draw support resistance levels for the 1 hour time frame?
Or better yet the time frame I am trading off of should I draw support resistance levels for that time frame?
Thank You
 

tomorton

Well-known member
Feb 28, 2002
6,984
894
173
62
Exeter
#7
If I am trading off of the 1 hour time frame should I draw support resistance levels for the 1 hour time frame?
Or better yet the time frame I am trading off of should I draw support resistance levels for that time frame?
Thank You

You should draw s/r off the time-frame you are working in but there is good argument that s/r in daily, weekly and monthly t/f's are more significant to price behaviour. Probably even more so when you get confluence across multiple time-frames.

Just to add another factor, many people give special added potential to s/r levels that coincide with trend-lines, significant MA's and large round numbers.

Of course, nothing of this says you can depend on any s/r level 100%.
 
Likes: IceMan

NVP

Well-known member
Jun 21, 2004
35,586
1,709
223
fxcorrelator.com
#8
Support and resistance is very important in markets .......but like others are saying it’s still only part of the puzzle ......

The key to trading is identifying market characteristics and dynamics that are the most powerful .....and then mixing them to generate the best entry signals

N