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.
08 - 12 Fevereiro |
weekly
forecast 08 - 12
Fevereiro Gold Weekly Review: Weekly Review: During the previous trading week, gold markets traded perfectly long and is still pretty much bullish. Since the demand for gold is stronger than the supply for gold, we will be hunting for long positions this week but with our ultimate targets at the 10 | ||
2016 | EURUSD | GBPUSD | USDJPY |
12 Fevereiro | Wave Analysis: EUR/USD is currently trading with a bearish bias. During the previous trading day, Euro traded long and even found a resistance along the upper resistive trend line. Unless the price closes above 1.1341, we will remain short but with our target at 1.1213, a close above will call fo | Wave Analysis: GBP/USD is currently trading with alight bearish bias. During the previous trading day, instead of heading long as previous forecasted, pound traded short and is currently on an upward pullback. We expect the current upward movement to be the continuation of wave(5) with our target | Wave Analysis: USD/JPY is currently trading with a slight bearish bias. During the previous trading day, usd/jpy traded perfectly short and ended up finding at 111.33. The pair is currently making a corrective upward movement towards 113.19, a close above 113.19 would mean we are headed further lo |
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08 Fevereiro |