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.
| 06 - 10 Junho |
weekly
forecast 06 - 10
Junho Gold weekly Review Weekly Review: During the previous week ending 3rd June 2016, instead of going short as previously forecasted, Gold markets retraced massively to the upper side following the NFP results but could not close above the upper resistive trend line forming top of the fal | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 10 Junho | Wave Analysis EUR/USD Is currently trading with a bearish bias. This pair traded massively short during the previous trading day and is still pretty much bearish. Following the break below 1.1324, we still expect further movements to the lower side but should not close below 1.12177. This view rema | Wave Analysis GBP/USD is currently trading with a bearish bias. As previously forecasted, this pair broke below 1.4480-1.4468 and is still pretty much bearish. Although we still expect further movements to the lower side, we are waiting for minor upward retracements towards 1.4468 to give us low ri | Wave Analysis USD/JPY is currently trading with a bullish bias. Yesterday, the pair tested the support level 106.57, headed long but is yet to reach our target resistance level 107.37. We still expect further movements to the upper side towards 108.59 or even further to 109.59. Ideally, the anticip |
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