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.
Wave Analysis Last week, the last impulsive wave (v) failed to break above the end of the impulsive wave (iii). As long as the price remains below the end of the impulsive wave (iii), we're expecting a possible correction to the lower side, ideally, we are expecting the impulsive wave (v) to have
Wave Analysis The British Pound corrected itself to the lower side and even went below the alligator indicator attached, while the price remains below this indicator, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of a correctio
Wave Analysis Last week, nothing much appears to have happened on this pair, the US dollar closed just a few pips away from its opening price, we are expecting a possible break above either the previous week's highest high, or a break below the previous week's lowest low to pick a possible long t