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.
| 26 - 30 Junho |
weekly
forecast 26 - 30
Junho Gold weekly Review Wave Analysis During the previous trading week ending 23rd June 2017, Gold markets fell as low as 1240.660 and as high as 1258.68 but ended up closing at 1256.30, just a few pips above its opening price. The previous week's candle is a perfect bullish pin bar and could driv | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 30 Junho | Wave Analysis: Perfectly as previously forecasted, the impulsive wave (v) extended higher and is still pretty much bullish on the daily chart. During this intraday, we expect a possible correction of this impulsive wave (v) but should not go beyond the support level 1.1289 from we'll be looking to | Wave Analysis: The cable is currently trading with a strong bullish bias momentum. During this intraday, We expect a possible impulsive wave count to the upper side and should not go beyond 1.3485. A break above this level may push the price further to the upper side with an ultimate target at 1.35 | Wave Analysis Yesterday, the US dollar daily candle opened at 112.28, went as high as 112.92 and as low as 111.80 but ended up closing at 112.16, just few pips below it's opening price. We expect the previous day's highest high 112.92 to have marked the end of the impulsive wave (iii), that the cur |
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