Support and resistance. am I doing it right?

Hi guys, I’m trying to learn how to draw a support and resistance (SnR). I’ve read through the school of pipsology and watched numerous videos on Youtube, and what seems easy is actually hard for me to practice. I can understand it when someone else is doing it, but get confused when looking at my own chart. I’ve attached some pictures of my chart. What I did was to draw a SnR with the recent price, and then scroll back to check with the histoy. Hope I’m doing it right.


I think the SnR zone is holding for this period of time.


On 18th May, does this count as a break through? Large candle stick closing in the SnR zone, and then smaller candle sticks breaking the zone. The SnR seem to be holding until a major break through at 3rd June.


Looks pretty good to me.


Break through on 9th Feb, broke by bears and bulls on the 10th Feb, and does it count as a break through between 11th to 15th Feb? What does this candle stick pattern implies to traders?

What do you think of my SnR? Please leave your experienced comments below. Thank you!

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What qualifies as a support or resistance level is how many times a level or an area price has touched and bounced off of. 2 or more touches qualifies a level. Look at this chart and tell me why it’s resistance.


Here’s a daily chart of AUDJPY. Notice how both these support and resistance levels are respected? 2 or more touches, price bounces off of these levels, in essence these are areas traders of all kinds are entering and exiting their trades from both bull and bear perspectives.


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So looking over your charts again you need to adjust these levels accordingly if trading intraday timeframes like 1hr and below. Better to use a daily and weekly chart to draw support and resistance levels and even 4 hour chart levels and then go to a lower time frame to trade off of these levels. Again these are areas of interest for traders pro and amateur.

Over the long run, my SnR area does look like the price has touched it and bounced off. What do you think? Your chart looks way neater than mine.

Alright. I’ll try to draw it again on a longer time frame and see what I can come up with. :smiley:

Hey I remember a cool trick someone taught about drawing levels. Fatten the lines up because support and resistance are not lines in the sand. Support and resistance are layers deep sometimes. Maybe even use a rectangle tool. Post a chart when your ready.


What about this on a daily timeframe?

By the way, is there such thing as a “reasonable pip number” in the SnR zone? Say I draw a SnR and there’s like 100 pips in my zone. Is that even possible?

It is very possible to have 100 or more pip zone on a larger time frame. The one thing i don’t hear from traders is ,how many pips they want on average for the week/month… This is a great way of helping you making a decision where to make an entry, with a very good chance of making money.

You have to plot the swing points. Ok look at the same chart here


The thing to remember about s/r levels is;

  1. Has price bounced off of the level 2 or more times.
  2. Has this level been breached to become a support from resistance level or visa versa.
  3. Were there many false breaks of the level? Has price bounced off of the level strongly every time or does price linger near the level a while before it leaves? And does it retest it?
  4. Age of the level determines how strong it is. Go on to a weekly or monthly chart and plot these swing points and these are very strong levels that offer good probability price will reject again off of the level.

Likely a false break of the level on a higher time frame. Do not look at what just happened last week as that was extreme volatility working through levels due to the Brexit. Brexit’s don’t happen everyday.

I think I’m kinda getting it. So the area between the upper 2 lines are 1 SnR, and the area between the other 2 lines below is another SnR zone. Now that looks MUCH neater.

Yes. Now when you plot these levels you are essentially plotting where you may enter or exit a trade. This is really one of the most important aspects of technical analysis. Practice drawing these lines everyday and you’ll see price action patterns occur over and over again.

hello please is there no way to draw the Sr on mobile MT4???

I have some questions with 000Zamani

what questions mate

we should use line or triangle