booma,
I am heading in a particular direction at the moment and happy to share that with you. Take a look at the Chaos Indicators in your chart packages. You will find the fractal and the alligator on many of the fx chart packages so load them up and have a look.
I use the Chaos Fractal, previous highs and lows combined with basic trend lines of resistance and support to give me my R and S. The challenge for me is identifying the genuine and false breaks above or below R and S.
I found this article for your info as a starter.
http://www.investopedia.com/articles/trading/06/Fractals.asp
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