In this section I am going to show you how to find ‘true support and resistance.’ In the 2 sections to follow, I will also show you two other forms of how to find support and resistance, that I feel will benefit you in your trading activities.
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But first, let’s find some good old support and resistance the good old fashioned way… Common it will be fun…
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You see, to find true support and resistance we first need to look at a higher time frame. Say you trade the M15 time frame. And once we go to a higher time frame we then simply reduce the size of the chart. On the Meta Trader 4 platform we would simply Zoom Out.
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So once we have the chart reduced in size. Now can look to find where price met more than once in the past and put a Horizontal Line on the chart. The more times price hits a certain price level. And bounces off of that Forex price level. The stronger the support and/or resistance becomes…
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Let’s take a look at this chart example so you can learn from it:
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You can do this on any time frame that you are using and it is the only true way to find ‘True Support & Resistance.’
