how do you identify support/ resistance lines? what timeframe do you use for best results (1h, 4h, daily, weekly) and also is you are using tradingview what's the name of the best indicator for support and resistance lines.
one more thing, from a TA point of view; how potent do you think s/r lines are ?? do we have some economists here to drop knowledge and statistics ?? thanks guys.
Resistance and support lines are mostly drawn from a higher timeframe like weekly when trading on 4h chart, this will guide you as trader to take your profit and your stopp loss based on the distances from your support and resistance lines because you cannot predict whether the price will break or stop at s/r lines, the higher the timeframe in trading the better e.g 4h above preferable.one more thing, from a TA point of view; how potent do you think s/r lines are ?? do we have some economists here to drop knowledge and statistics ?? thanks guys.
And there is no better s/r indicator than yourself learning how to draw them there are a lot of videos on YouTube that you can use to learn.
