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One of the most basic things about trading is support and resistance. Yet many do not fully understand how to find what is a “good” or “true” support or resist level. I will attempt to clear this up once and for all. The chart above is a current daily chart of the Eur/USD on it you can see a red line that i drew to indicate where the strongest level of support is. So how was able to find that? Simply by finding what the last most significant resistance level is. And that is the “secret” Real support was formally a resistance level and real resistance was formally a support level. This works in all markets and timeframes but is most relevant on the Daily time frame. The only exception is if it is making an all time new high or low. So if you want to find support look for resistance and if you want to find resistance look for support. Feel free to email me directly at derekf@forextradersdaily.com if you have questions.