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.
| 21 - 25 Setembro |
weekly
forecast 21 - 25
Setembro Gold Weekly analysis Technical View: Since 27th August 2013, Gold has traded withing the downward channel represented by the above wave (1-5). On 22nd Match 2014, the gold almost crossed and closed above the upper Resistance trend line unfortunately the level contained it. Then on 27th J | ||
| 2015 | EURUSD | GBPUSD | USDJPY |
| 25 Setembro | Technical View: EUR/USD is currently trading with a bearish bias. We are still waiting for wave (c) to close below wave (a), as long as wave (c) trades above the support trend line, short positions are ideal, any clear movements below the support trend line will signal further movements to the lo | Technical View: GBP/USD is currently trading with a bearish Bias. The pair trades short for the better parts of the previous day but failed to reach a key pivot level 1.5161, As long as the pair trades above this level, long positions are ideal, any clear movements below this level will signal fur | Technical View: USD/JPY continues to trade with the range 118.24 and 121.63. As long as the pair trades within this range, traders are advised to wait for clear breakout above/ below these levels before executing trades. As a precaution, observe other pairs such as HKD/KPY, and GBP/JPY for strong |
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