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📈 Price Action: How to draw and trade Support and Resistance zones, levels and trading strategy

1,930 views · Published 12 January 2018 · 7:08 · Indexed 2 October 2026

Channel: BO Turbo Trader · 2018 · Education

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Indicators: 
EMA 3     (blue)
EMA 20   (yellow)
EMA 50   (orange)
EMA 100 (red)
EMA 200 (purple)

Bollinger Band Period 20 Deviation 2 (green)
Bollinger Band Period 20 Deviation 1 (white)

Technical analysts know the ins and outs of analyzing chart patterns, and a populat technical analysis tool is to use support and resistance zones to identify points on a chart where a pause, or the reversal of a prevailing trend, is likely to occur. Support and resistance zones are a key when it comes to determining the level at which the price of a currency's exchange rate is likely to reverse. It is something I incorporated in my trading almost since the start. The problem is, those zones can be very subjective. 

The support and resistance strategy will help you in trading support and resistance and uncovering support and resistance zones. Its Easy to learn and can be applied to your trading system now. Your S/R (support and resistance) levels should always be drawn across the exact highs or lows of price bars – This is perhaps the biggest myth that traders have about drawing levels on their charts. Often times, support and resistance are more “zones” than exact “levels”.

One way to help you find these zones is to plot support and resistance on a line chart rather than a candlestick chart. The reason is that line charts only show you the closing price while candlesticks add the extreme highs and lows to the picture. Price never moves in a straight line. Price action bounces up and down between support and resistance levels. In fact, when skilled price action traders analyse a chart, they are just looking for support and resistance zones. We look at major support and resistance for market bias. 

Support and resistance levels are key price areas on your charts where the price has previously shown a reaction. Support and resistance areas are confluence zones and they can be major swing points where the price has turned away from and started a completely new trend.  

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