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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Drawing Support and Resistance on Forex Charts

2011-08-25T15:55:32+00:00
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By in Forex Trading Videos Last updated on | 33 Comments

Drawing Support and Resistance – Planning the Trading Week Ahead.

Todays Video Talks about how to Draw Support and Resistance on Your Forex Charts. Every Sunday, traders should draw support and resistance levels and plan the trading week ahead, it’s something I have done for years, and it works! This video will explain how to draw the levels correctly on the EURUSD currency pair. Enjoy the Tutorial.

Video Synopsis – Drawing Support and Resistance – Planning the Trading Week

This video discusses how to draw support and resistance levels on your charts in order to plan for the upcoming trading week. Every Sunday afternoon I take the time to go through the charts and plot my key support and resistance levels, look for any relevant price action, turning points or swing points. The best thing you can do is plot your levels out on the daily chart before the week begins and every day after the markets close in New York.

The chart in this video is the EURUSD daily chart, one of the first things I do when drawing S & R levels is to mark the major turning or swing points in the market, these are the obvious “pointy” parts on the chart where the market made an obvious change of direction. I marked 6 key levels or swing points on the chart in this video, however that’s not enough, we also need to draw in horizontal lines to connect these key market swing points.

It is best to think of these support and resistance levels as “areas” instead of exact price levels, this allows you to have some leeway with your stop placement. I also draw in the “interim” levels on the chart after drawing in the major S&R levels, these “interim” levels are smaller or perhaps less significant support and resistance levels on the chart.

This video was meant to explain how to draw support and resistance on a forex chart and also how I go a little bit deeper to draw the less obvious “interim” or in-between levels in the market.

About Nial Fuller

is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 20,000+ students since 2008. Checkout Nial's Professional Forex Course here.
  1. mohamed imchichi March 12, 2017 at 12:40 am

    you are the best teacher i have ever met. thank you so much. mohamed imchichi

    Reply
  2. asad September 29, 2014 at 9:05 pm

    Very good attempt. it is very useful for new comer.

    Reply
  3. rajesh vishwakarma September 4, 2014 at 3:55 pm

    good video Nial..making use of swing points to define S-R levels..Thanks a lot

    Reply
  4. rajesh vishwakarma August 5, 2014 at 5:27 pm

    Thank you Nial..Its a difficult and confusing aspect of analysis which u have made very simple to follow & learn.

    Reply
  5. Zdenka May 20, 2014 at 3:35 am

    Hey Nial :)
    Greatly appreciated! Thank you!

    Reply
  6. Samuel David Jackson May 12, 2014 at 10:06 pm

    ii am really happy for this new insight i’ve gotten from you….i am really taking my time to practice it,and i can see what you mean when you say price action trading strategy is a pure and accurate trading strategy…i am really happy to know you..thanks nail

    Reply
  7. Leon April 2, 2013 at 10:09 am

    Thank you nial i will practice so much.

    Reply
  8. hiệp January 25, 2013 at 2:08 am

    thank ! :D

    Reply
  9. Fxstak stanley January 24, 2013 at 8:15 pm

    Hi Nial, though am new in the world of forex, your tutorials have so far encouraged me to venture further into trading safely. I will be taking keen interests in the market change and master one price action strategy and apply it. Thanks to you, you’ve opened my eyes further

    Reply
  10. Chris AW December 10, 2012 at 9:17 am

    Just a newbie, planning to start trading in the New Year.
    I am looking for a stratergy to give me an edge and I
    Think your method of Price Action makes good sense to me.
    I have been looking at Forex methods for about six months now.
    So I am going to read everything on your site first before I start.
    Keep up the good work.
    Also could you tell me what platform you are using.
    Thanks
    Chris AW

    Reply
  11. jonathan jotex November 30, 2012 at 9:01 am

    i started crying when i saw your support and resistance drawing and looking back in time to see how it works in confluence.Nial you are really the best guy dude.a big Thanks to you,GOD BLESS YOU

    Reply
  12. Ellis Russell July 7, 2012 at 5:41 am

    Don’t Pivot lines serve the same purpose as these Support and Resistance lines?

    Reply
  13. suman chaudhary June 23, 2012 at 7:27 pm

    nail,

    you are great mentor and your post are perfect for every trader

    Reply
  14. George November 30, 2011 at 5:54 pm

    Beautiful.

    Reply
  15. martin June 12, 2011 at 5:51 am

    This is the best thing video ever thanks a lot.

    Reply
  16. daniel June 5, 2011 at 6:09 pm

    Hi Nial

    I was using so many indicators before this. Now i know that just by depending on price action we can make some good profit.

    Thanks again, you are great

    Reply
  17. Roland April 2, 2011 at 6:07 pm

    Beautifully and simply explained. This will surely improve my trading experience. thanks.

    Reply
  18. Amel March 8, 2011 at 5:14 am

    hello

    i have been watching your videos on line ,and i noticed that you are really giving a sincere ,and valuable informations.

    i would like to say thank you ,i am planning to take your course for a $333.00 it’s a donation ,i am just waiting for my taxe refunds
    ,and to help you continue doing the good work.

    thinks are tight around here

    Reply
  19. eric granatha January 22, 2011 at 5:33 pm

    good video, easy to understand explanations. I hope you continue sends an article or a video about forex actions setup so i can increase my understanding of it. thanks a lot

    Reply
  20. eric granatha January 22, 2011 at 5:28 pm

    good video, easy to understand explanations. I hope you continue sends an article or a video about setup actions for further price increase my understanding of it. Thanks a lot

    Reply
  21. evarist asika December 3, 2010 at 3:31 am

    lovely video Nial,it reveals the other side(profits not losses)of forex trading,thumbs up.

    Reply
  22. Mgp October 5, 2010 at 10:57 pm

    Thank you master !!

    Reply
  23. RAI September 17, 2010 at 2:43 pm

    Thanx for guidance

    Reply
  24. Sophie July 9, 2010 at 7:35 pm

    Great video- as usual

    Reply
  25. iKeng May 10, 2010 at 4:15 am

    Thank for the video.

    It is cool.

    :’D

    Reply
  26. adewale awotayo November 20, 2009 at 8:53 am

    Thanks for the video.

    Reply
  27. Adrian November 18, 2009 at 9:49 pm

    Hi Nial
    Thanks for that vidio, I sometimes get myself tied up knowing where to draw these lines ie at the body, at the end of the wick etc. Probibly get to exact at times. This type of video helps a lot.

    Reply
  28. James November 17, 2009 at 9:12 am

    Great Nial,

    I start my trading plan doing exactly the same.
    I even go down to hourly, and even add 15 min for
    daytrade purposes. These are great “static” areas
    to combine with “dynamic” support/resistance such as
    moving averages. Proper price action at a proper static
    area combined with a dynamic area can be a nice lower
    risk higher probability setup.

    Thanks,

    I look forward to your updated course materials.

    Reply
  29. Samos November 16, 2009 at 11:29 am

    Nial. Thanks.

    Reply
  30. Azeem November 16, 2009 at 7:19 am

    Thanks for all the guidance, Nail.
    Your teaching is just great.

    Reply
  31. Smi November 15, 2009 at 7:25 pm

    thanks…

    all your guidance is very much appreciated…

    I use ”fractals” which help a new trader like me to identify the swing highs/swing lows.. which tie up with your levels

    God Bless and wish you all the success

    Reply
  32. jody November 15, 2009 at 5:31 pm

    thanks for the reminder of keeping it simple. it is easy to forget how the market reacts over and over again to those basics. I am looking forward to the new pages and videos n nial!

    Reply
  33. rajan November 15, 2009 at 5:12 pm

    only one thing i can tell u nial….you rocks !

    Reply

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