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.
|16 - 20
16 - 20
Silver Wave Review Wave Analysis During the previous week, the corrective three wave cycle extended significantly to the lowerside and is still pretty much bearish. We expect the bounce from 18.480 to have marked an end to the corrective wave (b) that the currently bearish price rally is the co
Wave Analysis During the previous trading day, Euro failed to continue to the lowerside and instead is continuing to consolidate below the upper trendline. As long as this trendline is not violated to the upperside with an big green candle, We're patiently waiting for a clear sell signal to pick a
Wave Analysis During the previous trading day, The impulsive wave (c) continued massively to the upperside and is still pretty much bullish both on the daily and the weekly charts. As long as the price is contained above 1.21520, we expect nothing but a possible continuation of the impulsive wave (
Wave Analysis Nothing much appears to be happening on this pair. The US Dollar is still rallying above the upper trendline. While the price is contained above this trendline, I expect a possible extension of both the impulsive waves (c) and 5 and should continue massively to the upperside towards 1