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.
28 Marcha - 01 Abril |
weekly
forecast 28 Marcha - 01
Abril Gold weekly Review Weekly Review During the previous trading day, Gold markets rebounded from the upper thick green trend line and even broke below the next thin trend line. During this week, we expect to continue short with our ultimate target along the middle supportive | ||
2016 | EURUSD | GBPUSD | USDJPY |
01 Abril | Wave Analysis: EUR/USD is curently trading with a bullish bias. Unfortunately, the pair hit our stop loss and is currently trading above it. Following the break above the resistance level 1.1323, we will remain long with our next target at 1.1492. However, in case the price turn bearish and ends up | Wave Analysis: GBP/USD is currently trading with bullish bias. During the previous trading day, The cable retraced to the upper side but could not close above 1.4410. We expect the resistance level 1.4410 to have marked the end of the wave (b). That the current downward rally is the unfolding of w | Wave Analysis USD/JPY is curenty trading with a bullish bias. During the previous trading day, usd/jpy traded short and ended up forming a double bottom at the support level 112.06. Unless the the price below 112.00, we will be keen to hunt for long positions with our ultimate target at 112.58. A |
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28 Marcha |