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.
| 04 - 08 Julho |
weekly
forecast 04 - 08
Julho Gold Weekly Review: Weekly review: During the previous week ending 1st July 2016, Gold markets traded perfectly long as previously forecasted and is still pretty much bullish. During this week, we expect a possible bullish price rally towards $1383 or even higher. In the mean time, we | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 08 Julho | Wave Analysis EUR/USD is currently trading with a bearish bias. Yesterday, instead of going long as previously forecasted, the pair retraced to the lower side but could not close below 1.1040. As long as the pair trades above 1.1040 expect an upward acceleration towards 1.1167. A clear breakout bel | Wave Analysis GBP/JPY is currently trading with bearish bias. As forecasted, the pair traded short during the previous trading day and is still pretty much bearish on the daily chart. We still expect further momentum to the lower side for wave [c] to close around 1.245 or even lower. This pair shou | Wave Analysis: USD/JPY is currently trading with a bearish bias. As previously forecasted, the pair traded short but could not close below the lower supportive trend line. During this intraday, we expect a possible breakout below this trend line to continue short with an ideal target at 99.00. This |
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