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.
11 - 15 Julho |
weekly
forecast 11 - 15
Julho Weekly Review: During The previous trading week ending 8th July 2016, Gold markets traded long as previously forecasted and is still pretty much bullish. During this intraday, we expect a possible bullish price movements towards 1383 and may even break above it towards 1431. In the me | ||
2016 | EURUSD | GBPUSD | USDJPY |
15 Julho | Wave Analysis EUR/USD is currently trading with a bullish bias. Yesterday, wave (c) traded long as previously forecasted but is yet to reach our target resistance level 1.1155. During this intraday, we expect a possible bullish rally towards 1.1155 or even higher to 1.1267. A clear reversal from th | Wave Analysis GBP/USD is currently trading with a bullish bias. Yesterday, the pair traded long as previously forecasted and is still pretty much bullish. We wait for a clear breakout above 1.3491 to give us the green light to continue long towards 1.41199. A clear rebound from 1.3491 will culminat | Wave Analysis USD/JPY is currently trading with a bullish bias. Yesterday, the pair traded long as previously forecasted and even hit our target resistant level 106.29. We wait for a clear breakout above 106.29 to signal the continuation of the previous day's bullish trend towards 108.96. This view |
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