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 Junho |
weekly
forecast 12 - 16
Junho Brent Still to fall Wave Analysis: As previously forecasted, Brent fell to the lower side and will likely fall further. The anticipated bearish price rally is the continuation of both the inner impulsive wave v and the outer wave (c) but should not go beyond 45.51. Any further movements below | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 16 Junho | Wave Analysis: Perfectly as previously forecasted, this pair declined in price following the rebound from the immediate resistive trend line and will likely continue decline. We expect the downward rally that began yesterday to be an onset of the impulsive wave (5) and should not break below the su | Wave Analysis Yesterday, the corrective wave (b) extended a bit higher than expected but is still within our sell zone 1.27735-1.27204. As long as this view protects any invasion to the upper side, we expect a possible rebound from this zone to sell this pair. The anticipated sell position is the c | Wave Analysis: Despite our expectations to continue short, usdjpy continues to rally upwards and could extend even higher during this intraday. The upward rally that began yesterday is a mere corrective wave move and should not go beyond 112.003 from where we sold this pair during the previous day. |
| 15 Junho | |||
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