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.
| 09 - 13 Janeiro |
weekly
forecast 09 - 13
Janeiro Bullish inside bar Wave Analysis: Instead of rallying to the lower side, the yellow metal retraced to the upper side and even broke above 1169.21. Following the bullish inside bar witnessed during the previous trading day on 6th January, we expect an acceleration to the upper side as l | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 13 Janeiro | Wave Analysis: Yesterday, the pair broke above the resistance level 1.0612, traded massively long but has currently retraced back to it. The 4H chart is pretty much bullish and as long as the pair remains above 1.06064, we expect a possible bullish wave count to the upper side. The anticipated upwa | Wave Analysis: The cable retraced slightly higher than expected but ended up closing below 1.2222 with a near perfect exhaustion candle on the daily chart. During this intraday, we expect a possible bearish wave count towards the lower side as along as the pair remains below 1.2222. This bearish ac | Wave Analysis: Yesterday, US Dollar yesterday broke below 115.38, headed massively short but is currently tracing back to the upper side. We expect a the current upward rally to be a mere pullback and should not go beyond 115.38, from where we'll be looking for low risk sell opportunities. A clear |
| 12 Janeiro | |||
| 11 Janeiro | |||
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| 09 Janeiro | |||
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