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.
22 - 26 Fevereiro |
weekly
forecast 22 - 26
Fevereiro Gold weekly Review: Weekly Review: During the previous trading week, gold rebounded from the upper trend line and is still bearish. On March 16th, 2014, while the price was trading at $1384, the intraday stochastic was trading at 92.05. We expected the price and the stochastic to get | ||
2016 | EURUSD | GBPUSD | USDJPY |
26 Fevereiro | Wave Analysis: EUR/USD is currently retracing towards 1.1080. Unless the pair breaks above 1.1103, we may expect a rebound from 1.108 for us to go short with our target at 1.100 and 1.082. A break above 1.1103 will call for further long positions with an ideal target at 1.1331. This pair should b | Wave Analysis: GBP/USD is currently on an upward pullback towards 1.4017. A break above 1.4079 will call for further long positions with an ideal target at 1.4149. However, should the price clearly rebound from either resistance levels, 1.4017, 1.4079, or 1.4149, you should go short with you ulti | Wave Analysis: USDJPY is currently trading with a bullish bias. We are waiting for a clear breakout above the immediate resistive trend line for us to continue long with wave (c) with an ultimate target at 116.67. However, expect a minor pullback from this trend line towards 112.39 to confirm the |
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