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.
20 - 24 Marcha |
weekly
forecast 20 - 24
Marcha Gold weekly Review Wave Analysis: During the past trading week ending March 17th 2016. The corrective wave (b) pull-back to the upper side but is currently stalling around a key pivot level at 1235. Unless there's a clear close above this level, we choose to remain flat monetarily and | ||
2017 | EURUSD | GBPUSD | USDJPY |
24 Marcha | Wave Analysis: As previously anticipated, the corrective wave (4) continues to retrace to the lower side but should not go beyond 1.07375 from where we'll be looking to buy the impulsive wave (5) towards 1.100. A break above this level will likely push the price further to the upper side but should | Wave Analysis Yesterday, the Cable failed to sustain the break above our key buy zone 1.24865-1.25055 and has currently retraced back to it. We expect a possible bullish consolidations around this zone but should not go beyond 1.24865 from where we'll be looking to continue long with the impulsive | Wave Analysis: Despite our expectations to continue short, the corrective wave (b) continues to retrace to the upper side but is yet to hit our sell target. During this intraday, we still expect the corrective wave (b) to continue long but should not go beyond 111.68 from where we'll be looking to |
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20 Marcha |