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Pivot, support and resistance


Hi I am fairly new to trading and would like some advice regarding support and resistance lines please, what is the simplest way to set up support, resistance and pivot lines for trading and also what is the best time frame to set on the intervals for a candle stick chart to get the best interpretation of movements in the markets? I hope this question makes sense, thank you and I would really appreciate to some advice.
Warm regards Bentley
There are so many different ways that different folks use and refer to as support and resistance prices or places on a chart that can b displayed as lines or zones etc. These can be based on the different daily and weekly pivot numbers generated by the mypivots site. There's also PASR lines, one of the most common ... but also other potential S/R lines that can be generated using Fib analysis, Trendlines/Channels and more esoteric approaches (even the most basic: High/Low/Close/Open of previous day(s)). Also, I should add that the daily topic/thread for the ES has lots of folks employing Volume Profile where prior and forming volume activity at different prices present "levels" in a similar fashion.

And most of these can be drawn in based on pulling from different "time frame" analysis, be it intraday, daily, weekly ...

If you can be more specific with what you've used or had exposure to, then maybe you'll get a variety of good responses to what you're looking for. I'll be happy to chime in my 2 cents as well.

Originally posted by bentley72

Hi I am fairly new to trading and would like some advice regarding support and resistance lines please, what is the simplest way to set up support, resistance and pivot lines for trading and also what is the best timeframe to set on the intervals for a candle stick chart to get the best interpretation of movements in the markets? I hope this question makes sense, thank you and I would really appreciate to some advice.
Warm regards Bentley
In my opimion, as far as timeframs goes, the best are either tick or minute charts, but it's a matter of preference. Definitely, though, not weekly charts -- those don't tell you much other than an overall trend.
Here is a comparison of chart types: Chart Types
Simple horizontal lines at prices where volume is the heaviest on a 1800T chart is one such strategy.

Fibonacci retracements from close-to-close filling in gaps missing overnight data is a little known device. As is highs and lows a well-known one. Middle ground, is weighing which leg is important in a movement. The open of where prices failed is a good starting point.

Let's see: At least 80% higher or lower volume versus a favorable and relevant statistical deviation of time in a trading day's volume average, say 360 in a 24 hour period; or 100 RTH is also a benchmark.

VWAP,of course.