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.
08 - 12 Agosto |
weekly
forecast 08 - 12
Agosto Gold weekly Review: Weekly Review: During the previous week ending 5th August 2016, instead of going long as previously forecasted, Gold markets retraced to the lower side following the release of NFP and may head further to the lower side. We expect the current downward rally to be | ||
2016 | EURUSD | GBPUSD | USDJPY |
12 Agosto | Wave Analysis EUR/USD is currently trading with a declining bullish bias. Yesterday, the pair traded perfectly short as previously forecasted and even ended up breaking below a key pivot level 1.1157. A long as the pair trades below this level, we expect a possible bearish price rally towards 1.111 | Wave Analysis GBP/USD is currently trading with a slight bullish bias. Yesterday, the cable traded short as previously forecasted and even went below 1.2997. Following this breakout we expect to continue short with this pair but only up to 1.29024, a clear breakout below this target will push the p | Wave Analysis USD/JPY is currently trading with a slight bearish bias. Yesterday, the pair rebounded perfectly from the support level 100.91, headed long as previously forecasted but is yet to reach our target resistance level 102.44. A long as the pair trades with the current rectangular formation |
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08 Agosto |