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.
| 2020 | EURUSD | GBPUSD | USDJPY |
| 27 Tháng mười một | Wave Analysis Yesterday, Euro bounced off from the upper trendline and is not showing signs of breaking above the upper trendline. If the price breaks and closes above the upper trendline, then this will be a good place to consider a possible long term buy position with an ultimate target set arou | Wave analysis The British pound continues to rally above the blue line of the alligator indicator. As long as the price remains above this blue line, we expect a possible continuation of the impulsive wave (5) to the upperside and should breakout above 1.34085 towards 1.35 or even higher. On the f | Wave Analysis During the previous trading day, instead of continuing to the upperside, the Us dollar rallied to the lowerside but is still above the lower trendline. If the price breaks and closes below the lower trendline, then further momentum to the lowerside is expected, however, should the pr |
| 26 Tháng mười một | |||
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