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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Apple Weekly Review Wave Analysis The shares of this company continues to climb higher despite the forecasts that it could plummet, We're waiting for a clear rise above both the Up and Lower Kumo to confirm that we're upwards. The fact that the last impulsive wave (5) failed to penetrate below t
Wave Analysis According to the weekly chart attached, we're waiting for a close below 1.12862 to confirm that we're short with an ultimate target at 1.05616. The anticipated bearish price rally is the continuation of the impulsive wave (5) to the lowerside and should first break below 1.1286 before
Wave Analysis During the previous trading day, the cable made a fresh weekly low, but is still above the weekly support level 1.27355. The level 1.27355 is both a weekly and a monthly support and as long as the price remains above it, we expect a possible bounce from it to pick a low risk buy order
Wave Analysis The US Dollar bounced from the short term resistance level 110.979 and is still pretty much below this level. ON the weekly chart attached, we're eyeing just two levels a bounce from 108.541 to pick a buy, or a clear bounce from 110.879 to pick a sell , should price breakout above any