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.
18 - 22 Janeiro |
weekly
forecast 18 - 22
Janeiro Gold Weekly Review: Weekly Review: During the previews trading week ending 15th January 2016, gold traded short having been rejected from 1106.69, during this week, we will have the levels 1046 and 1179 as our key levels for observation. If gold can successfully close above 1096, the | ||
2016 | EURUSD | GBPUSD | USDJPY |
22 Janeiro | Wave Analysis: EUR/USD is currently trading with a bearish bias. During the previous trading day, wave (5) traded perfectly short as previously forecasted and even close below 1.085. We still expect further downward movements towards 1.0645. Ideally, wave (5) should close below the end of wave (3 | Wave Analysis: GBP/USD is currently trading with a bearish bias. During the previous trading day, pound traded short but found a support at 1.41005, went long but could not close above a key resistant level 1.4241. We are waiting for a clear close above 1.4248 to continue long with an ultimate | Wave Analysis: USD/JPY is currently trading with a bullish bias. We expect 115.97 to have marked the end of the five wave cycle, that the current upward movement is a corrective three wave cycle with wave (a) ending at 118.36. We will thus be looking to sell from 118.36 with our targets at 117 |
21 Janeiro | |||
20 Janeiro | |||
19 Janeiro | |||
18 Janeiro |