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.
| 28 Setembro - 02 Outubro |
weekly
forecast 28 Setembro - 02
Outubro Gold weekly Analysis Gold General Overview: Since May 2015, Gold has continually made lower highs being rejected by the upper resistance trend line. In march 2014, Gold hit the resistance trend line but got rejected with around 25061. Again In January 2015, gold tested the same trend | ||
| 2015 | EURUSD | GBPUSD | USDJPY |
| 02 Outubro | Technical View: EUR/USD is currently trading with a bearish bias. The anticipated downward movement of wave (c) not yet compete. We expect wave (c) to close along the support trend line or even below it. Generally, EUR is expected to trade on the lower ranges. EUR/USD is strongly positively corre | Technical View: GBP/USD is currently trading with a bearish bias. The pair crossed and closed below a key pivot level 1.5328 and is currently trading below it as we forecasted previously. We anticipate that, as long as the pair trades below this pivot level, GBP will likley trade on the lower | Technical View: USD/JPY is currently trading with a bearish bias. The pair continues to trade within the range 121.61, and 118.44, even after, GBP, a negatively correlated pair crossed below a key pivot area. As long as the pair trades within this range, short positions are encouraged along 121. |
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