Question from Charles about S/R

Here is Charles’s question.

“The issue that I have is how you are drawing support and resistance. What are the rules that you are using so that I can use the same rules to test the method.”

I will use the chart I have recently posted of the EUR/AUD trade to demonstrate, it is a valid question because I am looking at support and resistance differently depending on where I am in the process of analysing the trade.  The higher time frames are used to evaluate where price may turn and bounce, the lower time frames I am looking for short term support or resistance zones that will tell me where to place a stop loss.  I am really looking to the left of price to see where price most recently turned but I will also look further back in time for more confirmation.

 

 

See charts below…

monthly_sr

 

weekly

daily

4_hour

 

hourly

5_minute_charts

 

 

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