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.
| 16 - 20 Janeiro |
weekly
forecast 16 - 20
Janeiro Gold weekly Review Wave Analysis: As anticipated, following the bullish inside bar witnessed on Jan 6th 2017, the impulsive wave (5) traded relentlessly long but is yet to reach our target take profit at 1214. During this intraday, we still expect further bullish acceleration towards this ta | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 20 Janeiro | Wave Analysis: Despite the bearish engulfing candle witnessed yesterday at 12:00, Euro could not close below the short term support level 1.0612, instead, the pair rebounded perfectly from this level and ended up forming an opposite pin bar to push the price to the upper side. As long as the pair r | Wave Analysis: Euro continues to retrace to the upper side but not with the same momentum with which it fell on Jan 8th 2016. We expect the upward rally witnessed yesterday to be an onset of a bullish correction and should not go beyond the pivot level 1.2413; where we'll be looking for a low risk | Wave Analysis: Earlier today, the US Dollar rebounded perfectly from the resistance level 115.38, headed short and is currently below 114.80. This level acted as a key supply level on Jan 13th 2017 and will likely act as a key supply level as long as the pair remains below it. Thus, during this t |
| 19 Janeiro | |||
| 18 Janeiro | |||
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| 16 Janeiro | |||
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