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.
| 25 - 29 Julho |
weekly
forecast 25 - 29
Julho Gold Weekly Review Weekly Review During the previous week ending 22nd July 2016, gold markets traded short and even hit our first target support level $1320. As long as the level $1320 protects the lower side, we expect rebound from this level to continue long with wave (c) but should not | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 29 Julho | Wave Analysis: EUR/USD is currently trading with a bullish bias. Yesterday, the pair traded perfectly long as previously forecasted and even hit our second target resistance at 1.1109. The resistance level 1.1109 is a key level and will require a lot of force for price to close above it. Thus, we e | Wave Analysis GBP/USD is currently trading with a bullish bias. Yesterday, the pair retraced to the lower side but could not close below 1.3111. As long as the level 1.3111 protects the lower side, we expect a possible rebound from this level to go long but only up to 1.3491. A clear breakout below | Wave Analysis USD/JPY is currently trading with a strong bearish bias. Earlier today, the pair traded massively short and even broke below 103.98, we expect further movements to the lower side but should not go beyond 102.01. A break below 102.01 will push the price further to the lower side with a |
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