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.
| 02 - 06 Janeiro |
weekly
forecast 02 - 06
Janeiro Gold Weekly Review: Wave Analysis: During the previous week ending 30th December 2016, the Gold markets retraced to the upper side despite our expectations to continue to the lower side. We expect the upward rally witnessed during the previous week to be a mere retracement and should not go b | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 06 Janeiro | Wave Analysis: As expected, the pair broke above 1.0544, headed long but is currently retracing to the lower side. Following the bearish engulfing candle witnessed at 00:00 earlier today, we expect further retracements to the lower side but should not go beyond 1.05441. Any clear invasion below 1.0 | Wave Analysis: Instead of going short as anticipated, the pair retraced to the upper side and even broke above 1.2412 but is currently pulling back to the lower side. We expect the current bearish price rally to be a mere correction of the impulsive wave (c) and should not go beyond 1.234 from wher | Wave Analysis: As anticipated, the impulsive wave (c) traded massively short, hit our first take profit at 115.05, and is currently pulling back to the upper side. The daily chart is pretty much bearish and will likely push the price to the lower side for the better parts of this trading day, thus, |
| 05 Janeiro | |||
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| 03 Janeiro | |||
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