All other properties are the same as non-Fibonacci support and resistance levels: 1. If the market holds above/below the support/resistance level and has not closed below/above it but just insignificantly pierced it (with candle shadows), the more probable that it still valid. So, Close price is your first assistant. 2. To not be trapped with stop licking (i.e. Wash and Rinse) you may act in two ways – place your stop-loss order a bit deeper or wait for the appearance of a Wash and Rinse pattern as a confirmation of the level’s strength and further upward/downward market move. After you will see, that the Stop licking pattern completed – you may enter in corresponding direction. 3. Wash and Rinse is a fast pattern, so if the market has broken a level (i.e. close below/above it) and holds their for 3 periods (i.e. 3 bars/candles) or more, then probably this level has been erased by market action and not valid any more; 4. When price breaks the support level - later it could retest it and this area can act as resistance. The same is true for a resistance level – after breakout, it could act as support if the market will return and retest this area; 5. The more often price tests the level – the weaker it becomes; 6. The longer some level holds, the stronger could be the move after a true breakout of this level; 7. Treat the levels as some area, especially on longer time frames, such as weekly and monthly. The longer your time frame – the wider support/resistance area. Pipruit: Huh, Commander, so many properties? How could I remember all of them? Commander in Pips: And what do you expect from me - sweet toffees? You will have to learn that, if you want to use them not as others do. Besides, I suspect that you just itching to start advance talks about Fibonacci retracement. Pipruit: Oh no… Commander in Pips: Yeah! Come on, it will be interesting. P.S. This lesson was written by Sive Morten, who has been working for a large European Bank since April of 2000, and is currently a supervisor of the bank's risk assessment department. Sive's knowledge of forex market and banking industry is vast and quite complete. If you have any specific questions about forex, banking industry, or any other financial instruments, please post them on the next page and Sive should answer soon. Note: FPA ranks are earned in the battles against scam, not in the classroom.