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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GazProm Weekly Review Wave Analysis Last week, the shares of this company remains above the weekly support zone 151.72-149.74. This is as long as the price remains above it, We expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuatio
Wave Analysis Euro has pulled back perfectly as previoulsy forecasted and is now above 1.12471. This is a key level and as long as the price remains above it, we expect a possible momentum to the upperside. The current bounce from 1.12471 is a possible end to the corrective wave (b), that the unfol
Wave Analysis The cable is still struggling below 1.33015. The line 1.33015 is a major weekly resistance line and while the price is above it, we expect a possible move to the lower side. And on the flip side, should price go above 1.33015, then we'll wait for a retracement back to the same place t
Wave Analysis The US dollar is currently pulling back to the upperside. We're waiting for a clear close above 110.416 to pick a possible long term buy towards 114.135. And should price breakout higher, then we'll continue upwards with the last impulsive wave (v) towards 117.35. The anticipated bull