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.
| 05 - 09 Outubro |
weekly
forecast 05 - 09
Outubro Gold Weekly Review: Technical View During the early parts of last week, Gold markets fell significantly but around following the results of the number of jobs in the United States. It was expected that the employment figures should be 201,150 for September, but that didn't happened it miss | ||
| 2015 | EURUSD | GBPUSD | USDJPY |
| 09 Outubro | Technical View: EUR/USD is currently trading with a slight bearish bias. the pair crossed above a significant key resistant level 1.1259. but is unable to close above 1.1295. We are waiting for a clear breakout above 1.1294 before long positions can fully be recommended. if the price close above | Technical View: GBP/USD is currently trading with a bullish Bias. Instead of heading short from 1.5346, the pair crossed and closed above it and is currently trading above it. As long as the pair trades above the key pivot level 1.5346, the pair is expected to trade on the higher ranges. The lon | Technical View: USD/JPY continues to trade within the range 121.616 and 118.41 in spite of the breakout involved in the other positively correlated pairs. We are waiting for a clear break out either above or below the range to mark the end of the long term consolidation. Buy positions are thus re |
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