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.
| 31 Outubro - 04 Novembro |
weekly
forecast 31 Outubro - 04
Novembro Gold weekly review Weekly Review: The yellow metal continues to consolidate within the contracting triangular formation. As long as the metal trades within this wedge, we expect a possible bullish price movements towards $1307 or even higher. A clear breakout below the lower trend line formin | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 04 Novembro | Wave Analysis The Euro retraced to thew lower side but could not go beyond the end of the inner corrective wave (iv). The just witnessed retrecement is a flat correction, and should not go beyond the support level $1.1055. This pair remains under bullish pressure following the breakout above $1.105 | Wave Analysis Eventually, the cable has broken above the short term resistance zone 1.2394-1.2438. This pair will likely trade with a bullish bias as long as it remain above $1.2438. Although we expect consolidations around this zone before continuing long, any clear developments below this zone ma | Wave Analysis Yesterday, the corrective wave (4) traded long as previously forecasted and is still pretty much bullish on the daily chart. Although we expect further rally to the upper side, the anticipated should only go up to $103.42 from where we'll be looking for potential low sell risk opportu |
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