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.
| 16 - 20 Maio |
weekly
forecast 16 - 20
Maio Gold weekly Review Wave Analysis: During the previous weeks, Gold markets broke above the resistive trend line, headed long and is currently retracing to the just broken trend line. During the previous week ending 13th May 2016, the pair traded short during the earlier parts of the week but e | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 20 Maio | Wave Analysis EUR/USD is currently trading with a slight bullish bias. Yesterday, the pair traded short as previously forecasted but could not reach our target support 1.1160. We expect further movements to the lower side, the current upward rally is a mere retracement and should not go above 1.121 | Wave Analysis GBP/USD is currently trading with a bearish bias. Yesterday, the pair retraced as previously forecasted but did not reach our target 1.4543. As long as the level 1.4543 protects the lower side, we expect an upward momentum but should not go above 1.4706-1.4729. Ideally, we anticipate | Wave Analysis USD/JPY is currently trading with a bullish bias. Earlier today, the pair broke above the descending channel, and is currently heading to the upper side. Following this breakout, we wait for minor downward pullbacks towards 109.95 to give us low risk buy opportunities. This view remai |
| 19 Maio | |||
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| 16 Maio | |||
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