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.
EURUSD has completed forming the impulsive 'V' wave pattern, and currently, as seen in the chart above, the price is at a major impulsive outer wave 'V' at 1.0499, which serves as the support zone. We anticipate the price will make an impulsive move to the upside, forming a corrective 'ABC' pattern
GBPUSD has completed the bearish V major wave pattern. We expect the price to move to the upside in the form of a corrective 'ABC' pattern. We will wait for the price to form any reversal pattern at 1.2108. Then, you can place a long position at 1.2203 with your profit target at the resistance zone
USDJPY remains bullish. The price continues to rise, although it's moving with low momentum, signaling a potential reversal in the near future, possibly after completing the major outer impulsive wave 'V.' The price is currently very bullish and is approaching our target. The market is in an impuls