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: Recently, bitcoin recovered close to 4.1% the value it lost few weeks ago. we still expect further recovery to the upper side but only after a rebound from 4677.97. That means we'll first wait for a bearish correction towards 4677.97 then pick a buy positio
Wave Analysis: The corrective wave (4) continues to correct itself to the lower side but should not go beyond the support level at 1.2184. Ideally today and in the next few days, we expect this correction to extend to the lower side and should end around 1.2184 where we'll be looking to buy the imp
Wave Analysis: No significant was seen yesterday on this pair, we expected an extension of the previous bearish correction to the lower side but the pair closed pretty much a where it opened. The previous day's candle is a perfect indecision candle, with a long bullish tail, this is a possible indi
Wave Analysis: The US dollar continues to rally to the upper side despite the previous forecast that it could decline towards 104.43. We expect the level 105.90 to have marked the end of the corrective wave (b) that the current bullish price movements is the unfolding of the impulsive wave (c) to t