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Latest Support + Resistance Lines

Posted by Nick 19

It has been a while since I done an update to my support and resistance lines. Over the past two months I have been trading EUR/USD and GBP/USD exclusively so I only have support and resistance lines for these pairs. Below are tables with the S+R lines listed and there are also screenshots of my charts (click to enlarge).

Support & Resistance Lines

Legend:
SR = Normal support and resistance lines a.k.a Constant lines.
SRZ = Support and resistance zones.

gbp/usd

Type

Line
SR 1.6544
SR 1.6511
SR 1.6472
SRZ 1.6429
1.6400
SRZ 1.6360
1.6324
SRZ 1.6248
1.6216
SR 1.6192
SR 1.6156
SR 1.6071
SR 1.6017

eur/usd

Type

Line
SR 1.4690
SR 1.4540
SRZ 1.4565
1.4545
SR 1.4500
SR 1.4423
SRZ 1.4370
1.4330
SR 1.4280
SRZ 1.4235
1.4205
SRZ 1.4125
1.4100
SRZ 1.4010
1.3970

EUR/USD

GBP/USD

Related posts:

  1. Be a Forex Pro – Significant Support/Resistance Lines
  2. Finally Some Updated S+R lines
  3. Possible GBP/JPY trade – Extreme Caution
  • Boris Iglesias

    Hello Nick
    could you please tell me what the COLOR lines mean for you?
    and SR is OK but SRZ?
    thanks a lot
    Boris Iglesias

    • Nick

      Boris Iglesias » Generally speaking S+R Zones are no trade areas for me. They tend to be very unpredictable areas of support/resistance. Recently I have been using these areas to trade reversals from. If a indecision patterns forms on or in a S+R zone it usually means a great reversal trade is coming up.

  • Mark Rudder

    Both of the chart lists say gbp/usd,
    but I’m sure the 2nd one is eur/usd.

    • Nick

      Thanks for spotting that error, it is fixed now.

  • Gaia X

    Hi Nick,
    Did you start using constant lines again ?
    I read in your Currently Trading that you temporarily stop using constant lines.

  • Nick

    Hi Gaia I am no longer trading breaks of constant lines but I still place them as they show me areas at which the price will potentially find a barrier. This info is absolutely vital for any trading method!

  • Pawel

    Hi Nick,
    Aren’t those two pairs too similar (GBP/USD and EUR/USD) to trade them both? Because a lot of the time you will have to take two trades at the same time, which end with the same result (especially when it comes to scalp lines).

    • Nick

      Pawel » I am not currently trading scalps.

      You will find that reversals happen pretty much at the same time on EU and GU. However, most of the times one of the reversals will be a much stronger set-up than the other. I often find that I look at a GU reversal and think toy myself ‘it does not look safe’ but the same EU reversal looks much safer. So I usually end up getting quite few trades trading GU and EU with my method.

      • Pawel

        Thanks for a prompt answer Nick,
        Given what you said, does it mean that you always choose the stronger set up to trade, or do you sometimes take two trades at the same time.

        • Nick

          I always choose the stronger set-up. I very rarely take two trades at the same time. It really isn’t my style I like easy and stress free trading.

  • Chuks

    Nick, what year in your trading career did you begin to make consistent profits or did you hit the ground running immediately? Did you ever have a history of bitter losses? …

    • Nick

      Chuks » I started making consistent profits in year 2 of trading Forex. However, I was trading stocks for 2 years before I started Forex. I was doing very well with stocks so I did not come to Forex with no trading experience.

      • Chuks

        Ok. Great. Thanks for your reply

  • http://www.gusforex.com Gus

    Nice update Nick glad to see your still in the game, will definitely have to check some of these with the lines I use.

    Take care
    Gus

    • Nick

      Gus » Thanks Gus. I am definitely still in the game, Forex is my bread and butter!

  • MiG

    Hey Nick,

    Good to see you posting again on your blog.

    I had a question:

    - Is there a reason why you changed from trading the GBPJPY to the GBPUSD & EURUSD?

    Is it because of the volatility or is it because of the ADR that became greater on GBPUSD+EURUSD VS GBPJPY?

    Thanks for the explanation. I’m very interested to know.

    Best,
    MiG

  • Stephen Patt

    Hi Nick,
    Have you looked at using Murry Math Lines to set support and resistance lines because they correspond quite well to the levels you have drawn.

    • Nick

      Stephen Patt »
      No I haven’t, I taught myself to draw lines by identifying areas of congestion. Any good links to Murray maths lines?