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.
| 19 - 23 Outubro |
weekly
forecast 19 - 23
Outubro Gold weekly Review: Weekly Review: During the previous week, gold traded long for the better parts of the week. The precious metal went long and even hit a significant resistive trend line at 1189 but could not close above it. Following this upwards movement, we expect the level 118 | ||
| 2015 | EURUSD | GBPUSD | USDJPY |
| 23 Outubro | Technical View: EUR/USD is currently trading with a bearish bias. The pair traded short as previously forecatsed and even reached a key support trend line. We are waiting for a clear movements below this trend line before we continue short. However, we expect further downward movements. This do | Technical View: GBP/USD is currently trading with a bearish bias. Instead of going short, GBP retraced back to a previous resistant level 1.5477, got rejected and is currently trading below it. As long as the pair trades below this level, short positions will be ideal for trading since other posi | Technical View: USD/JPY is currently trading with a slight bullish bias. The pair went long as previously forecasted but could not close above the level 121.616 forming the equilibrium zone. We expected further movements towards the upper side but with stops at 121.31, and next stop at 121.616Thi |
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