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.
| 30 Janeiro - 03 Fevereiro |
weekly
forecast 30 Janeiro - 03
Fevereiro Gold Weekly review Wave Analysis: During the previous trading week ending 27th Jan 2017, Gold rebounded perfectly from the resistance level 1613.99 and is currently showing possibe momentum to the lowerside. Since the previous week's candle was a perfect bearish engulfing candle along a key r | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 03 Fevereiro | Wave Analysis Instead of going long as previously forecasted, the daily candle traded massively long and even hit a key pivot level 1.0829, but ended up closing below a key level 1.0764. The previous day's candle is a perfect bearish pin bar below a key level and will likely push the price to the | Wave Analysis Just as in Euro, instead of going long, the cable retraced lower than expected and is still pretty much bearish on the daily chart. We expect the downward rally witnessed during the previous trading day to be a mere correction of the impulsive wave (5) and should not go beyond the end | Wave Analysis: As previously forecasted, the US Dollar traded massively short, hit our first TP at 112.08, and has currently retraced back above a key level 112.57. As long as the pair trades above this level, we expect an accelation to the upperside but should not go beyond 115.42. In the meantim |
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