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.
| 20 - 24 January |
weekly
forecast 20 - 24
January Gold weekly Review Wave Analysis Few days ago, there was a decline in momentum but could not go beyond 96.43. According to the Momentum indicator attached, we expect further momentum to the upper side and could break beyond 1604.750. A break above this level will push the price even high | ||
| 2020 | EURUSD | GBPUSD | USDJPY |
| 21 January | Wave Analysis Yesterday, Euro closed as an opposite pin bar, the trend is overall downwards but we saw a bullish pin bar, this is not a sign that we are heading to the upper side, as long as the price is held below the upper trendline, we expect nothing but a possible momentum to the lower side., | Wave Analysis The US Dollar is currently in range not going above 109.360 or below 109.013. If the price breaks and closes above the level 109.360, then this will be a good sign that we are continuing to the upper side, but should the price break and close below 109.013, then this will signal a po | |
| 20 January | |||
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