Support/Resistance

• Where:
• Previous High/Lows:
• Gaps
• Emotional Points
• Trend/MA
• Fibonacci Retracement
• Strength:
• Occurrence: The more times a zone has been able to halt or reverse a price trend, the greater its significance.
• Length of the line
• steepness: The steeper the price move preceding a given support or resistance zone, the greater its significance.
• Price by volume:The more a security changes hands at a particular level, the more significant that level is likely to be as a support or resistance zone.
• Key Places to Place Stops for Long Positions
• Below a previous low
• Below the extreme low of an emotional bar.
• Below an up trendline
• Below a reliable MA
• On a breakout from a price pattern.
• Better still when more than one of these conditions is met.

The above from "Pring, Martin J - How To Manage Risk Using Technical Analysis"