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.
| 04 - 08 Janeiro |
weekly
forecast 04 - 08
Janeiro Gold Weekly Review Weekly Review: During The previous week, Gold markers fell and even tested the key level $1059. During the cause of this week, we expect the pressure to go short to continue and even head lower to 1050. Should the latter be the case, then we expect gold markers to cont | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 08 Janeiro | Wave Analysis: EUR/USD is currently trading with a bearish bias. During the previous trading day, Euro traded long as previously forecasted and ended up closing above the key resistant level 1.086, but could not cross above 1.093. The pair is currently on a retracing move towards 1.086, and may go | Wave Analysis: GBP/USD is currently trading with a bullish bias. During the previous trading day, pound traded short and closed below the supportive green trend line but ended up finding a support at 1.4565. We expect the current upward movement to continue long with targets at 1.4695 or even hig | Wave Analysis: USD/JPY is currently trading with a bullish bias. During the previuous trading day, usd/jpy traded short and ended up finding a support at 117.50, we expect 118.66 to mark the end of the current upward movement, however, a clear break above 118.53 would mean we are headed further l |
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