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.
| 16 - 20 Novembro |
weekly
forecast 16 - 20
Novembro Gold Weekly Review Weekly Review: For the past three weeks Gold has traded short following a bounce from a the weekly resistant level 117735. Following the previous week's downward movements, we are very reluctant to go long, however, the size of the previous week's red candle indicate th | ||
| 2015 | EURUSD | GBPUSD | USDJPY |
| 20 Novembro | Wave analysis: EURUSD is currently trading with a bullish bias. Assuming the level 1.06196 to be the end of the 5 wave cycle, we expect the current upward rally to mark the beginning of a corrective 3 wave cycle. We are waiting for a minor corrective move back to the currently crossed resistive r | Technical Analysis: GBPUSD is currently trading with a slight bullish bias. The pair went long as previously forecasted but could not close above 1.53337, instead, it rallied downwards and ended up closing below another very significant support level 1.5306. We are still waiting for the intraday | Technical View: USDJPY is currently trading with a bearish bias. Since the price is already trading below the lower green trend line forming the upward channel, 123.75 seems to have marked the end of the 5 wave cycle. Meaning the current downward movement is a corrective move to form a 3 wave cyc |
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