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.
| 12 - 16 Outubro |
weekly
forecast 12 - 16
Outubro Gold weekly Analysis Weekly Review: During the session on Friday, Gold markets rose significantly, as previously forecasted, we continue to see buyers go into the market. The level 1160.83 is a significant resistant level. As a result, in case of a clear break above it, then gold is l | ||
| 2015 | EURUSD | GBPUSD | USDJPY |
| 16 Outubro | Technical View: EURUSD is currently trading with a slight bearish Bias. The pair traded short after forming a double top at 1.1483. We expect further downward movements probably upto 1.1259 before buy positions can be recommended. For now short positions are ideal but with stops at 1.1259. This p | Technical View: GBPUSD is currently trading with a slight bearish bias. The pair tested a key pivot level 1.5499 but could not close above it. The pair got rejected from that level and ended up closing below another significant key level 1.5477. As long as the pair trades below this levels, short | Technical View: USDJPY is currently trading with a bullish bias. The pair traded short for the better part of yesterday and even tested a key pivot level 118.44 but ended up closing above it. The pair continues to trade with the equilibrium zone 118.44 and 121.61 despite the break out witnessed in |
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