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 Fevereiro |
weekly
forecast 13 - 17
Fevereiro Gold Weekly review: Wave Analysis: During the previous trading week, gold market rallied on the higher ranges as previously forecasted and is still pretty much bullish both on the daily and weekly charts. During this week, we still expect further acceleration to the upper side towards 1253 bu | ||
2017 | EURUSD | GBPUSD | USDJPY |
17 Fevereiro | Wave Analysis: As previously forecasted, the impulsive wave (c) traded massively long but is yet to reach our target at 1.0693. We expect further momentum towards this level and could probably break above 1.0710 towards 1.0785. In the meantime, we choose to hold onto a our previous buy position tow | Wave Analysis: As expected, the opening of a bullish engulfing candle witnessed on Feb 7th 2017 held true as a key demand level during the previous trading day and will likely hold true as a key buy level during this intraday. As long as the pair remains above 1.2461 and most importantly 1.2414, we | Wave Analysis: As previously forecasted, the corrective wave (b) retraced to the lower side but is currently stalling around a key support level 113.28. We expect a possible rebound from this support level to buy the impulsive wave (c) towards 115.76 or even higher. Any clear break below 113.20 wil |
16 Fevereiro | |||
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13 Fevereiro |