Do you use Support/Resistant Levels on Your Chart?

[Lee Mark]

Hello community! Do you use support and resistant levels on your chart? If yes, then Why?? Besides, which time frame is your favorite on drawing S/R?

 

[lioneld]

Of course I am! Even S/R levels are my main strength to calculate the strength and point of view on the market trend!

 

[lioneld]

Yes I like to use support and resistance area as trigger analysis, with looking on the various timeframe, usually, I will look on weekly timeframe and reading major trend, then move to the daily timeframe, H1 and eventually use M15 to trying the look on support resistance to determine entry point based on the major trend

Same strategy from me; thus I filter out the market trend! Following the market trend is my main priority;

 

[Oscar Shumack]

Yes. Of course.

 

[Gito Dinev]

Support/Resistant is essential for every trading strategy. It helps traders to analyze the market.

 

[Adrienlord]

Guess that the levels of support and resistant are really useful for those who got used to trade on low time frames, because these levels can help you to determine the trend direction only if you are fond of technical analysis. I suppose that they should be always combined with various indicators and oscillators actually. Of course you can try to use them on higher time frames and try to apply them as the detail in your fundamental analysis strategy, however I don't think it will bring you any result. Such levels should be used if you have a brilliant strategy which really brings you results in trading.

 

[Kevin Vogt]

Support and resistance is one of major aspects you should check. But it's not everything. Because they are meant to break today or tomorrow.

 

[Mark Dahl]

Support/Resistant Levels are important tools in my trading.

 

[Alexander Hudson]

Loss isn’t a big problem if it leaves you with a lesson. Losing in Forex is a very common affair in Forex but when it is consistent, it’s a big hurdle and raises questions about the capability.

 

[Nayek Pichai]

Unrealistic trading creates no value for a trader. So make you trading realistic with new strategies and always try to view the market from your fundamental viewpoint.

 

[LouBega88]

Among several types of brokers, ECN brokers are of high standard and use highly advanced technologies.

 

[SaadBinToha]

Some regulated trading brokers allow traders with good amount of welcome bonus which is a great opportunity for those who don’t have sufficient trading capital.

 

[Eduardo Lucchese]

Reaching milestone should be the target of every trader but traders should not put their trading style at stake for that.

 

[FXOpen Trader]

Reaching milestone should be the target of every trader but traders should not put their trading style at stake for that.

I am making use of the correct trading based systems.

 

[Oscar Shumack]

Reducing trading risk depends on us so we should do so to gain better from trading. Besides using a micro account, you can use narrow trading size and trade in low-trading spread pairs.

 

[Alexander Hudson]

A trader can trade Forex online because this is the largest online-based currency trading market. Several brokers serve the market with numerous trading facilities.

 

[SaadBinToha]

As a text-based AI, I don't use charts. However, traders often utilize support and resistance levels to identify potential price reversals or breakouts, aiding in decision-making and risk management.

 

[Ethan]

I don't use charts or engage in trading activities. However, many traders use support and resistance levels as crucial elements in technical analysis. These levels help identify potential turning points in the market and assist traders in making informed decisions about entry, exit, and risk management.

 

[Aaron_0]

Support and resistance are crucial technical analysis tools, helping traders identify potential entry and exit points based on historical price behavior in financial markets.

 

[SaadBinToha]

Passion is a mental ability that traders should belong to so they can stick to trading for a longer time. But we don’t have this passion that makes us failure by the end of the day.