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.
25 - 29 Janeiro |
weekly
forecast 25 - 29
Janeiro Gold weekly Review: Weekly Review: During the previous trading week, Gold traded long but could not break above a key resistant level $1106. During this week, we will be keen to look for a break above $1114 to mark the continuation of the upward thrush. This anticipated upward trend | ||
2016 | EURUSD | GBPUSD | USDJPY |
29 Janeiro | Wave Analysis: EUR/USD is currently trading with a bullish bias. During the previous trading bay, Euro traded long and even crossed and closed above the the upper resistive trend line forming top of the falling channel, Unless there is a clear break below this trend line, we will be long with our | Wave Analysis: GBP/USD is currently trading with a bullish bias. During the previous trading day, pound traded long but is yet to reach our target of 1.4419, we still expect further movements to the upper side for wave (c) to close at 1.4419 or even further to 1.4523. This pair should be traded al | Wave Analysis: USD/JPY is currently trading with a bullish bias. During the previous trading day, usd/jpy crossed above a key resistant level 118.81, unless the price closes below 118.54, we will likely be headed long with our ultimate target at 121.40. Otherwise, we will be short below 118.54 wi |
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27 Janeiro | |||
26 Janeiro | |||
25 Janeiro |