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.
| 06 - 10 Fevereiro |
weekly
forecast 06 - 10
Fevereiro Gold weekly Review: Wave Analysis: Instead of going short as previously forecasted, the yellow metal retraced to the upperside but is yet to hit our turn around level at 1613.99. We expect the upward rally witnessed during the previous week to be a mere correction of the impulsiv | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 10 Fevereiro | Wave Analysis: Despite the bullish engulfing candle witnessed yesterday around 8:00 AM, the pair pulled back even lower and is currently below a key short term weekly support level 1.0666. As long as the pair remains below this level, we expect an acceleration to the lower side with our first targe | Wave Analysis Instead of going long as previously forecasted, the cable went slightly to the upper side but ended up closing red and is currently bearish but still above 1.2468. As long as this level protects any invasion to the lower side, we expect a possible rebound from this level to go long wi | Wave Analysis: Yesterday, the US Dollar broke above the falling wedge and also above 112.67. Following this breakout, the pair traded massively long and is still pretty much bullish both on the 4H and daily charts. We expect the US Dollar to trade on the higher ranges as long as the pair remains a |
| 09 Fevereiro | |||
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