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Yes, Give it to me

How to Draw Support and Resistance Like a Pro! 

 September 19, 2013

By  Rayner

Support & Resistance are one of the most important aspects of technical analysis but often I see traders doing it wrongly.

Imagine you have a chart filled with SR like the one below. Do you know which levels to pay attention to? It’s filled with nothing but lines and it doesn’t seem to make much meaning of the chart at all.

nah

My approach to drawing Support and Resistance uses either 1 line or 2 lines. It is much cleaner and immediately tells you which area of the chart to pay attention to. I use a single line when price respect a level almost to the pip and i use 2 lines when price bounces off an area.

I highlight only the key Support and Resistance of a chart meaning the obvious swing highs and lows. The intermediate SR i will not draw any lines so as to maintain my focus on the key areas. Besides, with enough screen time you can easily identify those intermediate Support and Resistance without any lines.

Examples of how you should draw your Support and Resistance

support and resistance

support and resistance

support and resistance

6

4

 Also notice how Support and Resistance bounces off at key levels like 00 and the 50? You should definitely pay attention to them as well.

If you’re one of those traders who’s charts are filled with indicators and lines, please consider my approach to drawing Support & Resistance. This way it is much cleaner and you are able to focus on the key areas of the chart.

Good Trading!

  • 1) For the example of the second last picture, why do you choose to have 2 SR lines for some areas but only 1 SR line for other areas?

    2) Do you Draw the SR line at the Top of the wick? at the close of the candle? How do you decide which is more accurate? Some of your SR lines touch the wicks exactly while other of your SR lines touch the middle of the wick while others touch the open/close of the candles

  • For the example of the second last picture, why do you choose to have 2 SR lines for some areas but only 1 SR line for other areas?

    Do you Draw the SR line at the Top of the wick? at the close of the candle? How do you decide which is more accurate? Some of your SR lines touch the wicks exactly while other of your SR lines touch the middle of the wick while others touch the open/close of the candles

    • Hi nmesome,

      I treat SR as a zone and try to get my lines to encompass as much of the price action.

      But these days, I use one line one my chart only as its neater. But I always treat SR as a zone, that’s important.

      Rayner

  • Hi dear rayner,
    good morning.
    would you kindly devote sometime to show how to draw s/r zones not s/r lines please
    thanks
    sainathramesh
    date; 28 december, 2018
    8.30 am ist

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