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.
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22 - 26
Gazprom Weekly review Wave Analysis: Following the latest developments at this oil Company, we expect Gazprom shares to rise in value following the announcement that this company is repairing their refineries. On the charts, we expect much volatility especially if the price can either breakout a
Wave Analysis: During the previous trading week. Euro declined steeply and is still pretty much bearish both on the daily and the weekly charts. As long as the price is contained below the zone 1.14189-1.13761, we expect nothing but a possible momentum to the lowerside. The anticipated bearish pric
Wave Analysis: Perfectly as previously forecasted, the cable declined steeply and even went below the 4 hour support zone 1.30155-1.29933, this is a key zone and as long as the price remains below it, we expect nothing but a possible momentum to the upperside, the anticipated bearish price rally is
Wave Analysis; This is a possible opposite volume scenario. Earlier this year, there was an unprecedented surge in volume while the price decreased steeply. Since then however, while price has continued to remain bullish, volume on the other side decreased steadily and only recently there was a sur