It is very safe to trade with support resistance but when we learn to trade we forget it after learning it or we are not interested in using it. But the use of support and resistance is very important in trading. Many of us run after strategy and forget or ignore the use of support resistance. The market always respects support and resistance or breaks out and moves in an up or downtrend.
I urge new trades to learn to draw support resistance with great care and observe the market to see the results for yourself.
Yeah exactly, support and resistances forms the basis of the technical analysis some people call it old days strategy of trading but i agree it is still valid but it is better to use other confirmation signals alongside just support and resistance that will dramatically increase your winning ratio. Also if one is trading solely on support resistance levels then he must be vigilant regarding breakouts and breakdowns and use tight stop loss range to avoid big losses.