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.
26 - 30 Setembro |
weekly
forecast 26 - 30
Setembro Gold weekly review Weekly review: Since 11th July 2016, Gold market entered into a descending channel and is still pretty much with this channel. During the previous trading week ending 23rd September 2016, gold markets traded long for the better parts of the week but could not h | ||
2016 | EURUSD | GBPUSD | USDJPY |
30 Setembro | Wave Analysis Yesterday, the corrective wave (b) traded long but is yet to reach our target rebound zone 1.1243-1.1254, we are waiting for minor corrections towards this zone to sell the impulsive wave (c) towards 1.1144. Although this downward rally is highly anticipated upon a clear rebound from | Wave Analysis The cable is currently trading with a declining upward momentum. Instead of going long as previously forecasted, the cable traded short during the previous trading day and is pretty much bearish on both the daily and monthly charts. If the monthly chart can close the way it is at the | Wave Analysis: Yesterday, the pair traded long as previously forecasted and even hit our first target along the immediate trend line. The current chart set up and structure is pretty much even, and movements to the either sides of the markets have equal chances. As long as the pair trades below 101 |
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