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.
15 - 19 Agosto |
weekly
forecast 15 - 19
Agosto Gold weekly Review weekly Review During the previous week ending 12th August 2016, Gold markets formed a perfect pin bar on the daily chart and is likely to head further to the lower side. During this week, we expect a possible bearish price rally towards $1324 or even lower to $1315. This | ||
2016 | EURUSD | GBPUSD | USDJPY |
19 Agosto | Wave Analysis EUR/USD is currently trading with a bearish bias. Yesterday, the pair traded long as previously forecasted but is yet to reach our target resistance level at 1.13866. Euro is still pretty much bullish on the daily chart and may head further to the upper side. We expect the current dow | Wave Analysis GBP/USD is currently trading with a slight bearish bias. Yesterday, the pair traded long and even broke above a key resistance level 1.31372, we expect the just broken level to act as a support to any downward rally. Since the price is already rebounding from it, now is the most oppor | Wave Analysis: USD/JPY is currently trading with a bullish bias. Yesterday, wave (c) traded to the lower side as forecasted but is yet to reach our target at 99.033. During this intraday, we still expect further movements to our previous target but only after a clear bearish reversal from 100.73. T |
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15 Agosto |