Support and resistance lines are an important things that help a trader to find out the good entry and exit points. These lines slightly vary from trader to trader depending on the method used. Some people use Fibo. Retracement tool to identify them.
I think the best strategy is to base your trading on support and resistances, opening trading and simply setting stop and target in few pips is stupid thing we should know the support and resistance to decide stop loss and target.
support and resistance are one of the oldest methods of trading and it works quite well if implemented properly. In a bullish market all resistance will not last and in a bearish market all support will strike. when trading we must know in what market trends we are trading. and I think this cord is good and beneficial for new traders like me but if you want a thread like this, go ahead You have power here