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.
| 07 - 11 Setembro |
weekly
forecast 07 - 11
Setembro Gold Weekly Review: During the previous week, Gold traded with a bearish Bias for the better parts of last week, the pair however could not close below the 1109.62 key level but is currently trading just above it. As long as the pair trades above this level, short positions are rec | ||
| 2015 | EURUSD | GBPUSD | USDJPY |
| 11 Setembro | Technical View: EUR/USD is currently trading with a slight Bullish bias. The pair successfully closed above the 50.0% fib level and is trading above it. It is anticipated that, as long as the pair trades above this fib level, long positions are recommended but only up to the 38.2 % fib level. | Technical View: GBP/USD currently trading with Bullish Bias. The pair successfully closed above the 38.2% fib level, but is current trading below the 50.0% fib level. As long as pair trades below the 50.0% fib level, long positions are ideal. Any movements above this fib level will signal furt | Technical View: USD/JPY is currently trading with a slight Bullish Bias. The pair traded on the higher ranges during the previous business day, but failed to close above the key level 121.64, the pair is however currently trading above the 50.0% fib level. It is anticipated that, as long as th |
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