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.
| 05 - 09 Setembro |
weekly
forecast 05 - 09
Setembro Gold Weekly Review: Weekly Review: During the previous trading week ending 2nd September 2016, Gold markets traded perfectly short as previously forecasted but is currently retracing to the upper side. We expect the current upward rally to be the unfolding of a corrective three wav | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 09 Setembro | Wave analysis: Unfortunately, our stop got hit when the pair ended up above 1.1268, following the breakout above the resistance level 1.1252, we expect an acceleration to the upper side but should not go beyond 1.1335, in the meantime, we sit on the sidelines and wait for retracements to the ju | Wave Analysis: Following our previous analysis, nothing has changed much, we are still wait for a clear rebound from the immediate trend line to give us a low risk buy opportunities. Ideally, the anticipated upward rally should be the unfolding of the impulsive wave (c) and should not go beyond | Wave Analysis Unfortunately, our stop got hit when the pair broke above a key supply level 101.92, we expect the just broken supply level to act as a demand level to the current downward rally. Thus, instead of going short, we sit on the sidelines and wait for a clear rebound from 101.92 to go l |
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