Support and Resistance
I use bollinger bands to “project” technical support and restistance levels. I also use the “fixed” method using 12 hour and 24 hour and weekly pivots…..at intersection of these two types of momentum and friction techniques are often found specially formed powerful impulse waves that either result in :
continuation (price penetrates the intersection and continues in that direction for x…pips///
or….
reversal (price rejects the intersection and continues back in the previous direction)
and then of course light raning days we tend to see price consolidate tightly at these same levels.
The X number of pips for either situation as a projection target is yet another issue, which I solve using nison candle adn demark and raff channels..all of which tend to be reliable.