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.
| 21 - 25 Marcha |
weekly
forecast 21 - 25
Marcha Gold weekly Review: Weekly Review: During the previous trading week ending 18th March 2016, Gold markets broke above the upper resistive trend line but ended up closing below it, thereby giving us a possible reversal candle. The commodity had sharp upswings and sharp downswings thereby ending | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 25 Marcha | Wave Analysis: EUR/USD is currently trading with a bearish bias. For the past four business days, Euro has traded perfectly short and is still pretty much bearish. Following the breakout below 1.1193, we will hold on to our short positions but with our ideal target at 1.4056. However, should the | Wave Analysis: GBP/USD is currently trading trading with a bullish bias. During the previous trading day, pound rebounded from 1.4060, headed long but could not close clearly above 1.4177. We are waiting for a clear close above this level to go long with our target at 1.4289. A clear breakout below | Wave Analysis: USDJPY is currently trading with a bullish bias. During the previous traded long and even broke above the top of the triangle, 112.37. As long as the pair trades above this level, look for long positions with your target at 116.31. In an alternative case scenario, should the price |
| 24 Marcha | |||
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| 21 Marcha | |||
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