Drawing Effective Support and Resistance

I thought I would jot down a few ideas I have regarding effective support and resistance levels on chart that seem to have worked for me.

Firstly a definition for anyone who has arrived here and is not familiar with support and resistance can be found over here.

• Strength is defined by the number of touches and the reaction off the level
• More recent swing levels are more relevant
• Important levels should be marked on higher time frames, weekly and daily work for me
• Beware of marking levels that price has previously not respected
• Bias the level relative to the current price, eg. if price is above the level it maybe possible to bias that level to when it has previously acted as resistance and vice versa when the price is below I try to bias the level to represent previous support.  This is because I like to trade breakout re-tests of these levels.
• Review levels on my charts once per week, remove any levels not being respected and tweak weekly and hourly levels