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 Fevereiro |
weekly
forecast 20 - 24
Fevereiro Gold Weekly Review: Wave Analysis: As previously forecasted, gold markets traded massively long, broke above a key reversal level 1228.48 and is still pretty much bullish both on the daily and weekly charts. Following the bullish pin bar candle witnessed on the daily chart on 15th Feb 2017, | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 24 Fevereiro | Wave Analysis: As expected, the Euro pullback a bit higher and even closed above 1.05725. As long as the price remains above this level, we expect an acceleration to the upper side towards 1.07692 or even higher. Although this upward rally is highly anticipated, we're only be interested in clear b | Wave Analysis: Yesterday, the cable broke above the wedge formation, traded intensely to the upper side and even broke above 1.2537, following this breakout, we expect further acceleration to the upper side but should not go beyond 1.2693. In the meantime, we're waiting for minor bearish pullbacks | Wave Analysis: For the past few days, the US Dollar has been making lower lowers and is still pretty much bearish both on the daily and the 4 hour chart. From the current chart structure and set up, this is a possible slanted head and shoulder formation. With the diagonal trend line being the neckl |
| 23 Fevereiro | |||
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