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.
| 20 - 24 Junho |
weekly
forecast 20 - 24
Junho Gold weekly review Weekly Review During the previous week ending 17th June 2016, the gold markets traded long for the better parts of the week but is yet to reach our target resistance level $1320. During this week, we still expect further movements to the upper side for wave (4) to e | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 24 Junho | Wave Analysis EUR/USD is currently trading with a bearish bias. Earlier today, following the Brexit, euro traded massively short and even broke below our ultimate target 1.1142. During this intraday, we are very reluctant to execute long trades, instead, in the meantime, we remain flat for protecti | Wave Analysis GBP/USD is currently trading with a strong bearish bias. As previous forecasted, Brexit clearly hurt the British pound, the Cable deprecated to the lows of 1.1322 and may head further to the lower side. Although there may still be downward momentum, we remain flat, unless you are a pr | Wave Analysis USD/JPY is currently trading with a strong bearish bias. Following the Brexit, most currencies moved unanimously to the lower side including the US dollar Yen. We expect a possible bearish momentum towards 99.02. Thus, during this intraday, we will only be keen to look for signals tha |
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