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.
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Brent Weekly Review Wave Analysis: Perfectly as previously forecasted almost 4 months ago, Brent oil has been trading on the higher ranges and is still pretty much bullish both on the daily and weekly charts. During this week and in the next few weeks we expect a possible extension of the impuls
Wave Analysis: For the past two days, we've seen a possible correction of the previous impulsive five wave cycle but we're still below 1.2282, during the course of this trading day, we expect a possible extension of the corrective wave (b) to the upper side but should not go beyond 1.2282, where we
Wave Analysis: Despite the beraish pin bar seen few days ago, the cable is still pulling back upwards, we're waiting for a sell around 1.3908. We expect the level 1.3940 to have marked the end of the impulsive wave (5) that the current bearish price rally is the unfolding of a corrective three wave
Wave Analysis: Usdjpy is currently trading with a declining bearish bias. As long as the price remains above 110.85, we expect a possible rebound from it to long this pair. Ideally, we expect this level to make the end of the current correction, that any serious movements to the upper side will be