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.
| 08 - 12 Maio |
weekly
forecast 08 - 12
Maio Gold Weekly Review Wave Analysis: During the previous trading week ending 5th May 2017, we witnessed further bearish correction of the impulsive wave (c) but is yet to hit our turn around zone 1204.70-1191.12. During this trading week, we still expect further rally to the lower side but | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 12 Maio | Wave Analysis Euro continues to consolidate above 1.08649 despite our expectations to continue long. Although we cannot refute the possibility of Euro breaking below 1.08649, as long as the pair remains above 1.08649, we expect a possible bullish price movements towards 1.10532 or even higher. The | Wave Analysis: Despite our previous forecast that the cable should rise, this pair continues to rally on the lower side and will likely head further to the lower side. We expect a possible second retracement towards 1.27735 from where we'll be looking for very low risk buy opportunities. The antici | Wave Analysis: Yesterday, US Dollar retraced lower than expected but should not close below 113.783 by the end of this trading day. Ideally, we expect a continuation of the impulsive wave (5) but should not go beyond the resistance level 115.040 from where we'll be looking for a possible low risk s |
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