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.
| 22 - 26 July |
weekly
forecast 22 - 26
July FaceBook Weekly Review Wave Analysis During the previous trading week, facebook shares declined steeply and is currently heading to the lowerside. As long as the price remains within the rising shape formation, we expect nothing but a possible momentum to the upperside, as it is on the weekly c | ||
| 2019 | EURUSD | GBPUSD | USDJPY |
| 23 July | Wave Analysis: After breaking below the support zone 1.12105-1.2028, euro is yet to pullback to the upperside towards the same zone, as long as the price remains below this zone, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of | Wave Analysis: Instead of continuing to the upperside as previously forecasted, the cable pulled back to the lowerside retracing back to the lowerside, we're waiting for a buy from the supportive zone 1.24536-1.2440. As long as the price remains above this zone, we're waiting for a bounce from thi | Wave Analysis After breaking below the supportive trendline, the US dollar retraced back to the upperside but is currently rallying around the same trendline. This is the best place to look for long term sell orders with an ultimate target at 107.126. The idea is to wait for a clear sell signal fr |
| 22 July | |||
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