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.
Wave Analysis Just as previously anticipated, Euro closed as a perfect bearish pin bar candle. As we mentioned, while the price is contained below the upper trend line and also below the previous week's lowest low, we expect a possible momentum to the lower side and should break below 1.10000 towar
Wave Analysis Just as previously anticipated, the cable bounced off from the zone 1.29869 and is currently heading to the upper side. As long as the price remains above the zone 1.29869-1.301680, we are looking for long term buy positions, the anticipated bullish price rally is the continuation of
Wave Analysis After a massive decline seen during the previous trading day, the US Dollar failed to break below 109.813. As long as the price remains within the range 109.813 and 110.360, we are only interested in trading reversals. a bounce from 110.260 will attract a sell and a bounce from 109.81