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.
| 12 - 16 Setembro |
weekly
forecast 12 - 16
Setembro Gold weekly Review Wave Analysis: During the previous week ending 9th September 2016, the corrective wave (b) traded long as previously forecasted but could not go beyond the end of the truncated wave 5. We expect the current downward rally to be the unfolding of the motive wave (c) | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 16 Setembro | Wave Analysis As expected, the pair rebounded from the resistance level 1.1253, headed short and is still pretty much bearish on the daily chart. During this intraday, we expect an impulsive rally to the lower side but should not go beyond 1.1152. A clear breakout below this target may push the pri | Wave Analysis Yesterday, the corrective wave (b) rebounded perfectly along the supportive trend line as previously forecasted. We expect the current upward rally to be the unfolding of the impulsive wave (c) but should not go beyond the resistance level 1.4111. A clear breakout above this target ma | Wave Analysis On 30th August 2016, the level 101.92 acted as a key demand level thereby driving price almost 200 pips to the upper side. On 7th September 2016, the pair broke below the same level but ended up above it by 8th September 2016. Currently, the pair is finding it hard closing below the s |
| 15 Setembro | |||
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| 12 Setembro | |||
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