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.
| 28 Novembro - 02 Dezembro |
weekly
forecast 28 Novembro - 02
Dezembro Gold Weekly review Weekly review: As anticipated, during the previous trading week ending 25th November 2016, Gold markets traded massively short and is still pretty much bearish on both the weekly and monthly charts. If the current monthly chart can close the way it is right now, the | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 02 Dezembro | Wave Analysis As anticipated, the Euro traded massively long after rebounding from the lower trend line but is yet to hit our target resistance level 1.07227. From yesterday's forecast, nothing has changed much, we still expect further bullish wave count towards 1.07227 and possibly higher. At the | Wave Analysis: Yesterday, the British pound strengthened against the US Dollar as the demand for the pound increased. Despite the massive upward rally witnessed during the previous trading day, we still expect to continue long with the impulsive wave E and may breakout above 1.2743. Any clear devel | Wave Analysis: Following the breakout above 113.88, the pair accelerated to the upper side but has currently retraced back to it, 113.88. As long as the level 113.88 limits any invasion to the lower side, we expect a possible rebound from this level to go long with an ideal target at 121.44. Any cl |
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