Support and resistance system should only be used in a higher timeframe chart, like one hour and above. This is necessary because at such a higher time frame, brokers cannot manipulate the price to my disadvantage.
How I draw strong support and Resistance
Before I call a level strong, the same level must met the following conditions.
Again, when drawing my support and resistance levels, I use a range, not a single line, this is because price tends to test particular level before retrieving, range caters for these levels.
|11 - 15
11 - 15
Gold Weekly Review Wave Analysis During the previous week ending 8th of November, Gold markets declined steeply but could not hit the supportive trendline, during this week and possibly during the next week, we expect a possible momentum further to the lowerside but should not go beyond the su
Wave Analysis During the previous trading day, euro bounced off from the level 1.099 and is currently heading to the upperside, we expect the bounce from this level to mark an end to both the impulsive waves (5) and (c), that the current bullish price rally is the continuation of a corrective three
Wave Analysis Last week, the cable bounced off from the supportive trendline and is currently heading to the upperside, we expect this bounce to have marked an end to the corrective three wave cycle, that the current bullish price rally is the unfolding of an impulsive wave count and should break a
Wave Analysis During the previous trading day, the Us Dollar continued to the lowerside but could not sustain the break below then supportive trendline. We expect the bounce from this trend to have marked an end to the corrective three wave cycle, that the current bullish price rally is the continu