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.
| 29 Maio - 02 Junho |
weekly
forecast 29 Maio - 02
Junho Gold weekly Review Wave Analysis: As previously anticipated, gold markets rose following a rebound from 1220.28 and is still pretty much bullish both on the weekly and the monthly charts. As long as the price does not retrace back below 1220.28, we expect a possible bullish wave count toward | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 02 Junho | Wave Analysis Instead of continuation long as previously forecasted, the impulsive wave (v) traded slightly to the upper side but could not break above the end of the third impulsive wave (iii), 1.1237. We're waiting for a clear breakout above 1.1237 to confirm the continuation of the impulsive w | Wave Analysis: Despite the bullish engulfing pin bar seen on May 31st 2017, yesterday's daily candle could not close above it's opening price. Instead this pair pullback slightly to the lower side and ended up closing just a few pips below its previous day's opening price. As long as the level 1. | Wave Analysis: The US dollar continues to correct to the upper side despite our expectation to continue short. We expect the previous day's bullish price rally to be a mere correction of the impulsive wave (c) and should not go beyond the daily resistance line 111.94 from where we'll be looking t |
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