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.
| 29 Agosto - 02 Setembro |
weekly
forecast 29 Agosto - 02
Setembro Gold weekly review Weekly Review During the previous trading week ending 26th August 2016, wave (5) could not close above the end of wave (3) thereby ending into a truncated 5th wave. Since the impulsive wave (3) was extensive in nature, there is probably less bullish pressure to push the p | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 02 Setembro | Wave Analysis: Yesterday, the corrective wave 4 went a bit far than expected but could not close above 1.12055. We expect the current downward rally to be the unfolding of the impulsive wave 5 but should not go beyond 1.1079. Since this pair is positively correlated to EUR/HKD and NZD/USD, we exp | Wave Analysis: Yesterday, instead of going short as previously forecasted, the impulsive wave E ended a bit earlier than expected and could not even hit our target. Following the breakout above the upper resistive trend line, we expect an acceleration to the upper side but should not go beyond 1. | Wave Analysis As previously forecasted the impulsive wave 3 extended to the upper side but could not go beyond 103.85. Following its correction towards 103.14. We expect to buy the impulsive wave 5 towards 104.36 or even higher. This upward rally is highly anticipated since the other positively c |
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