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.
|25 - 29
25 - 29
DAX Weekly Review During the previous trading day, Dax rallied to the lowerside but could not break below 15,472.1, as long as the price does not break and close below this level, we are waiting for a rebound from this level to pick a possible long term buy position. And in case the price b
During the previous trading day, euro rallied to the lowerside and is still showing signs of continuing to the lowerside. As long as the price remains below 1.06304, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the last impu
During the previous trading day, the British pound rallied to the lowerside and is still showing signs of continuing to the lowerside. As long as the price remains below the previous day's lowest low, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally i
Just as previously forecasted, the US Dollar rallied to the upperside and is still showing signs of contuing to the upperside. As it is right now, I expect nothing but a possible momentum to the upperside. The anticipated bullish price rally and is expected to continue much higher towards 151.89 a