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.
| 13 - 17 Marcha |
weekly
forecast 13 - 17
Marcha Gold Weekly Review: Wave Analysis: During the previous trading week ending March 10th 2017, the outer corrective wave (b) traded a bit higher than expected and even went above 1221 but has currently retraced below it. As long as the commodity remains below this level we expect a possible impu | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 17 Marcha | Wave Analysis: As expected, Euro rebounded perfectly from the support level 1.0710, headed massively long and even broke above the resistance level 1.0746. This level,1.0746, acted a key retracement between 7th and 9th of February 2017, thus, as long as the pair remains above this level, we expect | Wave Analysis: Despite the bearish engulfing candle seen yesterday at 08:00, the cable traded relentlessly to the upper side and even broke above a key retracement level 1.2395. This pair is in an overall uptrend, thus, we're only interested in signals pointing to the upper side. With that said, we | Wave Analysis: Instead of continuing short following the break below 113.64, the US Dollar continues to consolidate below 113.6 but is still pretty much bearish both on the daily and the weekly charts. Although we expect further bearish momentum, we choose to sit on the sidelines momentarily and wa |
| 16 Marcha | |||
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| 13 Marcha | |||
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