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.
| 2015 | EURUSD | GBPUSD | USDJPY |
| 14 Agosto | Technical View: The pair is expected to trade with a bearish bias. The pair has remained below its previous broken support and is expected to trade further low as long as it remains below the level 1.11551. Further movements below the support 1.11113 will signal further movement below with a support | Technical View: GBP/USD is trading with a bullish bias. The pair remains on the upper side of its previous day's key level 1.56037. As long as the pair keeps above this level, long positions are recommended with the first stop at 1.56340 and a second stop at 1.56494. Besides, the technical indicator | Technical View: USD/JPY is expected to continue trading with a bearish bias. The pair maintains a downward trend on an intraday basis being resisted by its previous day's key level 124.60. The pair tested the key level yesterday, before continuing down with the first stop at 124.27, and the second s |
| 13 Agosto |
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