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.
14 - 18 Dezembro |
weekly
forecast 14 - 18
Dezembro Gold weekly Review: Weekly Review: Since 25th August 2013, Gold has been trading within the downward channel, not going above the red diagonal resistive line and below the green diagonal supportive line. However, during the previous week 4 December 2015, Gold tested the lower green | ||
2015 | EURUSD | GBPUSD | USDJPY |
18 Dezembro | Wave Analysis: EUR/USD is currently trading with a bullish bias. The pair went short as previously forecasted end even hit our target 1.0808. Following the massive downward movements witnessed during the previous intradays, we are very reluctant to hold on to long positions. We are waiting for a | Wave Analysis: GBP/USD is currently trading with a slight bullish bias. Wave (5) traded perfectly short as previously forecasted but could not reach our target of the green supportive trend line. We are waiting for the current upward pullback to close along 1.4928 before we continue short with t | Wave Analysis: USD/JPY is currently trading with a bullish bias. The pair went long as previously forecasted and even ended up trading with the zone 122.24 and 123.65. Following this upward movements, we are very reluctant to go short, we will remain long with our target at 123.65. Also, We will l |
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