Defining support and resistance

Beginner Questions
1

Hello everybody,

newbie question - how does one define support and resistance. what i mean by this what is best Time frame for setting S and R. in addition to this what is more reliable and strong S & R i.e. daily, weekly, monthly S & R

Also, PIVot points - again what are best time frames for pivots…

i would be grateful if someone can shed some light on these few points which i have mentioned above.

let me know please

thank you in advance

sam

2

Take a look through the articles on the page below for S/R zones.

http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action.html#post309174

For pivot points you will need them calculated on the daily chart, either
from a site like Action Forex or use the one on MT4 platforms. (this needs
to be on NY close daily candles)

3

Hiya, On your platform if you insert fibonacci retracement tool it will be highlighted, and basically a line that the rate does not pass is a resistant level but once its past it it is a support level because it is unlikely to pass it again in the short term.

Hope this helops

4

There’s no specific time frame for setting the s and r, but as far as reliability goes, they all fall in the same category…essentially S and R for daily vs weekly vs monthly will stay until they are breached…

5

Hello Sam,

I found very nice articles which related to your question. Hope these will help you to get a very good understanding about S & R Levels.

Check the articles below

Trading Support and Resistance Key Levels

2 Key Clues to Understanding Support and Resistance Levels

If you want more info join the discussion on Babypips Price Action Thread

6

Hello everyone, thank you very much for your generous input, i really appreciate this. i will look into this information provided. I’m trying to understand the S&R and pivot points and PRICE ACTION especially, because personally this information is a vital tool in the FX…I’m trying to develop myself a method which i can trade using these tools.

If i do have more questions, i will revert here accordingly. thank you again

sam