Placing S/R lines (NickB method)

[NickB]

Placing support and resistance lines is an art not a science. It will never be a science as long as humans are trading. Every trader’s analysis is different in some way, so what you want to find is what analysis is the most common to the most traders. Support and Resistance lines are one of the most basic aspects to trading. Every trader uses them. Each currency pair has highs and lows to which traders pay attention. As you develop your skill at placing S/R lines you want to be able to spot the price lines that would be most common to most traders. This is only done by practice and actively trading.

The best and fastest way to learn about S/R lines, and scalp lines, is to use the resources below. Starting new threads on the basics of using S/R lines will only slow down your learning curve. Don’t wait on others to hand you the information. You’ll be a better trader by putting forth a little effort and sweat to learn how to expertly place S/R lines.

Below are links to some previous threads that touch on this subject as well as links to a video, ebook, and the blog where S/R lines are discussed in detail. Jump in, take notes, and then practice placing lines as you work on your trading. Hit the forums and dialogue with the other traders. You’ll be placing lines like a pro in no time.

Quick S+R line tip: If you want to see the correct S+R lines for GBP/JPY simply go to my blog and play the latest analysis video. In the video you can see where I have my lines placed, all you need to do is place yours at the same price.

Thread Links
Question about using other type of S+R lines in conjunction with my S+R lines
GBP/JPY analysis thread, here we talk about S+R lines that GBP/JPY is currently close to (updated daily)
Using S+R lines to spot reversals
Question about a specific S+R line (read my answer I make an important point)
Do not over complicate S+R lines

SR Explination Video
http://www.forex4noobs.com/tradevide...todrawsnr.html
Download to desktop (right click and press 'save target as' for IE users or 'save link as' for Firefox users)

Blog
http://www.forex4noobs.com/blog/

Video Course (100% of profits go to charity)
http://www.forex4noobs.com/forums/talking-forex/1694-get-video-course.html
http://www.forex4noobs.com/vidcourse.php

December Webinar Download
NickB Webinar Dec. 2007 (NickB_Webinar_December.zip) - DivShare

Ebook
http://www.forex4noobs.com/TheNickBMethod.pdf

Special thanks to 'Fetor' for getting all these links together in one place. If you see any other threads concerning S+R lines which you think belong here PM me so I can add them.