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.
30 Maio - 03 Junho |
weekly
forecast 30 Maio - 03
Junho Gold weekly Review Weekly Review: During the previous week ending 27th May 2016, Gold markets traded short as previously forecasted and even broken below the supportive trend line forming top of the descending channel. Following this break out, we are very reluctant to go long, instea | ||
2016 | EURUSD | GBPUSD | USDJPY |
03 Junho | Wave Analysis EUR/USD is currently trading with a slight bullish bias. Yesterday, wave (5) ended a bit earlier than expected and even closed below our target resistance level 1.12177, before heading massively short. Following the break below 1.1160, we expect the current upward rally to be a mere c | Wave Analysis GBP/USD is currently trading with a slight bullish bias. Yesterday, the pair traded perfectly short as previously forecasted but could not close below 1.4395, we expect further movements to the lower side but only after a clear break below 1.4395, as long as the zone 1.4406-1.4395 pro | Wave Analysis USD/JPY is currently trading with a bearish bias. yesterday, the pair traded short as previously forecasted but could not close below 108.58. Earlier today, the pair retraced to the upper side but ended up being rejected from the upper resistive trend line forming top of the falling c |
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