Yesterday I showed you an eight hour chart trade taken earlier this week. In that post I promised I would share my support and resistance areas with you today…
Placing Support & Resistance Challenge
Before I share my support and resistance with you I want to give you another challenge. Instead of simply copying my support and resistance areas I want you to place your own!
Learning to place support and resistance on a chart is a valuable skill for a trader. In the video below I show you how to place support and resistance areas. Please watch the video and start placing support and resistance areas on EUR/USD, GBP/USD, AUD/USD and EUR/JPY. You can then use my support and resistance area cheat sheet to confirm you placed your own areas properly.
Ross House
Taking part in the 8hr challenge. Up +85 pips this week with my self-placed SR lines. Now have your cheat sheet lines up as well in a different color for comparison. Nice to see that most of my areas are the same as yours.
joe
Hi Nick,
i can see no EUR/JPY ( nor GBP/JPY, for that matter)
in my copy of MT5 . It is in MT4 but not in MT5
Could i be wrong?
thanks
Nick
Sorry about the late reply. I will do a post on adding pairs in MT5.
Nagaraj
Thanks, extremely useful video on S&R markings
Brian
Thanks Nick, Great education, I congratulate you on going to the effort to do this for free. I’m a little confused where to go for the cheat sheet, Brian
Colb
Excellent, Thanks Nick.
Irene Cole
yeah
Dave
Thank you Nick. Another cracking video as always
C
Thanks Nick, I had some spot on and some a bit of…….nice to know I’m on the right track
Phoebe Ejimbe
Thanks Nick! Very enlightening!
M. Patel
Good information for Forex trading
Jack
Thanks Nick for this great sharing.
Frankie
Question: do look to every support or resistance? Because I trade with risk/reward form at least 1:2. But when a look to the charts I it is mostly less then 1:2 when I look to every resistance or support Frankie
fbibusiness
I have been waiting for the 8 hour Webinar and look forward to it.
Ian Mason
Nick, as I emailed you, this is all legit…. the guidance you share actually works for me….
judyt
great explanation, really helped me, tks, i’ve traded everything from a 1 min on but i’m tired of all that and am enjoying these 8 hours, thank you for introducing them to us, you have done a great public service to all of us! kiss, kiss, kiss!!!
Iconite
Hey nick, may i know which software you are using for plotting s&r?
Nick
I place them using MT5, I think in this video I was still using Dealbook 360 though. If you are asking because of the highlighted areas, that is not a feature of the software. The highlights are a feature of the recording software I used to make this video.