Eight Hour Chart Support & Resistance Areas

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.

You can see my support and resistance areas here.

480 comments

Ross House

April 12, 2013

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

April 12, 2013

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

Nagaraj

April 12, 2013

Thanks, extremely useful video on S&R markings

Brian

April 12, 2013

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

April 12, 2013

Excellent, Thanks Nick.

Irene Cole

April 12, 2013

yeah

Dave

April 12, 2013

Thank you Nick. Another cracking video as always

C

April 12, 2013

Thanks Nick, I had some spot on and some a bit of…….nice to know I’m on the right track

Phoebe Ejimbe

April 13, 2013

Thanks Nick! Very enlightening!

M. Patel

April 13, 2013

Good information for Forex trading

Jack

April 16, 2013

Thanks Nick for this great sharing.

Frankie

April 16, 2013

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

Nick

April 18, 2013

Sorry about the late reply. I will do a post on adding pairs in MT5.

fbibusiness

April 18, 2013

I have been waiting for the 8 hour Webinar and look forward to it.

Ian Mason

April 19, 2013

Nick, as I emailed you, this is all legit…. the guidance you share actually works for me….

judyt

April 19, 2013

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

September 20, 2013

Hey nick, may i know which software you are using for plotting s&r?

Nick

September 20, 2013

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.