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.
| 17 - 21 Outubro |
weekly
forecast 17 - 21
Outubro Gold weekly Review Wave Analysis: As previously forecasted, Gold markets entered into consolidation upon hitting the support level $1244. Unless there is a clear breakout below this level, $1244, we expect a possible rebound from this support level to go long with an ideal target at $ | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 21 Outubro | Wave Analysis Yesterday, the pair traded massively short and even engulfed the previous trading day's candle(19th Oct 2016). Following the engulfing candle witnessed yesterday, we expect further bearish wave count towards $1.0822 or even lower. The anticipated downward rally is the continuation of | Wave Analysis The cable continues to retrace to the lower side but should not go beyond the immediate trend line. So far, the pair is below $1.2246 and may head further to the lower side as long as it remain below this level. However, in case of any developments above $1.2270, we expect a possible | Wave Analysis As previously anticipated, the pair retraced to the upper side and even tested the resistance level $104.01 but is currently trading below it. The current chart set up and structure is pretty much bullish and chances of moving to the upper side is very high, however, as long as the le |
| 20 Outubro | |||
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