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 Yesterday, Euro pulled back to the lower side and is currently showing signs of a possible continuation to the lower side, while the price is held below the Alligator indicator attached, I expect further momentum to the lower side, the anticipated bearish price rally is the continuat
Wave Analysis Yesterday, the cable pulled back to the lower side in a consolidating manner, we expect the downward rally which began yesterday to be the continuation of the corrective wave (iv) but should not go beyond 1.23020. We expect the bounce from 1.23020 to have marked an end to the correct
Wave Analysis The us dollar is currently in a corrective mode, following the break above the alligator trend indicator attached, I expect further momentum to the upper side and should break above 108.800 towards 109.390. At this point, only buy positions looks ideal and can be recommended. But sho