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 During the previous week, the euro continued massively to the lower side and is still showing signs of continuing to the lower side, while the price is not able to break above the upper trend line,we expect nothing but a possible momentum to the lower side, the anticipated bearish pr
Wave Analysis The cable continues to consolidate above 1.30168-1.29869. As long as the price remains above this zone, we are waiting for a bounce from within this zone to pick a possible low risk buy position. And on the flip side, should the price break and close below 1.29869. A break below this
Wave Analysis During the previous trading day, the impulsive wave (c) continued to the upper side and is still pretty much bullish both on the daily and on the weekly charts. While the price is contained above 109.840, we expect nothing but a possible momentum to the upper side. The idea is to wai