Hello,
I am trying to learn price action, but i have one problem.
Is there a way to understand if i am drawing the support and resistence correctly.
I can’t get my head around 
There isn’t a definite answer.
The best I would say is use the same simple rules for drawing these lines every single time, then you stand a chance of gradually refining them to optimum effectiveness for your specific strategy.
Don’t ignore any price point by assuming it is just “noise”.
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it isn’t easy - it comes with practice
a couple of little tips - firstly, draw only horizontal lines, not diagonal; secondly, if using candles rather than bars, always use the ends of wicks, not the candle bodies, because wick ends show ‘price-rejection’ and that’s another way of saying ‘support and resistance’
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2 very helpful replies just above.
Also, don’t confuse previous S/R with future S/R. They’re not always the same thing.
Don’t expect high accuracy. Think of areas/bands, not precise lines.
Everything is probability, but 2 things make previous S/R more likely to be future S/R: how recent they are, and how frequent they are (how many touches/rejections).
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In my opinion, there is no real correct and the most accurate way to draw it. Just draw approximately is good enough. More important than trying to draw it correctly is to see what kind of reactions you get once price reaches there. If the price reacts, well, that’s your answer.
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Thanks to all guys.
Are valuable tips
Just for curiosity.
This is the price action on today eur/usd. Now here the levels maybe are almost clear. But just pick the middle line. Also that can be a resistence???
It could be a support if it gives price support. Don’t want to sound obtuse but that’s just how it is.
What might be more important is what do you intend to do if price rises to that line and falls from it? Or if price rises to that line and goes straight through? If that price level becomes a key criterion for your tactics under your strategy if it is reached by price again, then you could regard the level as significant
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Sorry i write wrong thing. It would be resistence not support
Yeah i think at the end it depends on me what i want to do
Trading currency pairs on support and resistance from a 5m chart is not the easiest - better to follow Indices.
However move the charts up to 30m - 1hr and you could see a better picture. And best of all use the daily chart. I use PSAR balls set up at 0.09 0.5. and then draw a horizontal line to connect the last S&R PSAR position.
IMO, this is an ideal way to obtain a T/P. price.
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