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.
|26 - 30
26 - 30
BTC Weekly Review Wave Analysis If we take the previous Month's highest high as the swing low and the previous month's lowest low as the swing low, currently the price is in a pullback mode. As it is now, we have a pullback beyond the 38.2% fib level, we are expecting further pullback to t
Wave Analysis Just as we indicated during the previous trading day, Euro continued to rally to the upper side and is still pretty much bullish both on the daily and on the 1 hour charts. As we mentioned during the previous day's forecast, we expect nothing but a possible momentum to the upp
Wave Analysis British pound continues to rally to the upperside and is still pretty much bullish both on the daily and on the weekly charts. If the price can close above the upper trendline by the end of today, then we will be expecting further momentum to the upperside and should break beyo
Wave Analysis USD continues to pullback to the lowerside but is still few points above the upper trendline, if you are looking at this chart right now, we expect price to rebound from the same trendline to pick a low risk buy position towards 112.00 and may extend even higher. Should the pri