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.
01 - 05 Agosto |
weekly
forecast 01 - 05
Agosto Gold Weekly Reviews Weekly Reviews During the previous week ending 29th July 2016, Gold markets rebound from our support level 1320, headed long and is still pretty much bullish. We expect further movements to the upper side for wave (c) to close around 1434 or even higher. This commodity is | ||
2016 | EURUSD | GBPUSD | USDJPY |
05 Agosto | Wave Analysis EU/USD is currently trading with a slight bullish bias. Yesterday, the pair traded perfectly short as previously forecasted and even hit our first target at 1.1112. The daily candle is still pretty much bearish and may push the price further to the lower side but should not go beyond | Wave Analysis GBP/USD is currently trading with a slight bullish bias. Unfortunately our SL was hit when the price broke below 1.3280 and even went below 1.3145. The current chart setup and structure conveys a bearish sentiment, which means the current upward rally is a mere retracement and should | Wave Analysis USD/JPY is currently trading with a bearish bias. Yesterday, the pair didn't make any significant move but as can be observed, the pair is still below a key pivot level 101.49. There are no changes in our technical outlook, we still expect a quick bearish decline towards 99.03 as long |
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