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.
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Bitcoin Weekly Review: Wave Analysis: As previously forecasted, the corrective wave (4) extended slightly to the lower than expected and even broke below the support level 3895 and still below. This week, we expect a possible extension of this corrective rally but should not go beyond the en
Wave Analysis: Despite the bearish engulfing candle seen on 20th September this year, euro could not go below 1.18232, instead, this pair rebound from this level and is currently heading to the upper side. Although we're likely to continue long with the impulsive wave (v), we still anticipate a pos
Wave Aanalysis: During the previous trading day, we saw a possible correction of the impulsive wave (1) not going below the daily support level 1.34884, we expect this level to have marked the end of this correction that the current bullish price rally is the unfolding of the third impulsive wave (
Wave Analysis: Despite the bullish engulfing candle seen on 20th of this month, the US Dollar barely continued to the upper side and has currently pulled back to a key daily support level 111.826. As long as the price remains above this level, we expect this level to act as a support to any movemen