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.
| 10 - 14 Outubro |
weekly
forecast 10 - 14
Outubro Gold Weekly Review Weekly Review: As previously forecasted, Gold markets broke below the contracting wedge, headed short and is still pretty much bearish both the daily and monthly charts. During this week, we expect to continue short with the current impulsive rally but should not g | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 14 Outubro | Wave Analysis Instead of going short as previously forecasted, the pair retraced to the upper side but could not go beyond $1.1078, while there are chances Euro could retrace further to the upper side, the probability of continuing to the lower side are equally very high. We are waiting for a clear | Wave Analysis Earlier this week, the cable entered into a symmetrical triangle and is still trading with in it. Unless there is a clear progression outside this triangle, we choose to sit on the sides and only trade breakouts. A breakout below the triangle will push the price to the lower side with | Wave Analysis This pair is currently trading with an increasing upward momentum. Following the breakout above the resistance level $104.01, we expect a possible bullish price movements towards 106.15 or even higher to $106.52. Ideally, as long as the pair trades above $104.01, we expect this leve |
| 13 Outubro | |||
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| 10 Outubro | |||
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