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.
14 - 18 Novembro |
weekly
forecast 14 - 18
Novembro Gold weekly Review Weekly Review: Gold is currently trading with an increasing bearish momentum. During the previous trading week ending 11th Nov 2016, Gold markets fell relentlessly and even broke below a key support level $1251. This level acted as a key demand level between 6th to 17th o | ||
2016 | EURUSD | GBPUSD | USDJPY |
18 Novembro | Wave Analysis For the past few days, Euro has been making lower highs which means the pressure to go short is still way above the pressure from the lower side. The previous day's candle is a strong bearish continuation candle and will likely push the price further the lower side. The anticipated do | Wave Analysis Yesterday, the cable opened at 1.2440, went as high as 1.25036 but ended up closing at 1.2418, just a few pips below it's daily opening opening price. The previous day's candle is a perfect bearish pin bar candle. This means, the pressure from the upper side is still intensive and wil | Wave Analysis: Forn the past few days, the US Dollar has been trading with a strong bullish bias and is currently trading with an increasing bullish momentum. During this intraday, we expect a possible bullish wave count towards 111.16 and possibly breakout above it. The anticipated upward rally sh |
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