In my opinion, the key to trading is learning how the market moves and adapting to it's environment. Support and Resistance are the heart of that movement, but there are other little "quirks" that you must pick up on as well. I will try to point out a few of those, if not in this post in others, however, the best thing you can do is get a lot of chart time viewing price behavior at critical levels. Combining this with patterns and fibonacci is how I find trades. When searching for a trade I look for:
- Longer term key price levels using weekly, daily and 4 hour charts
- The sentiment of the market by reading reports and talking with other traders
- Economic reports that might move the market
- Ranges that the market may be trading in at the moment or could break out of
Chris, BRV (nobrainertrades.com), you and I can all use different methods for our entries, or our money management approaches and our trading techniques, but one thing is for sure, price has a behavior, and if you really want to cut your losses short and let your profits run, then learn the true nature of price, in the NOW, and you will achieve much more than success, you will have mastered of your skill.