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 Nothing much has happened on this pair since the previous day's forecast. The close of the previous day saw Euro consolidate and could not breakout above the previous days highest high. As long as this high is not violated to the uppersidie with a big green candle, we choose to remai
Wave Analysis Just as we mentioned in the previous day;s analysis, the cable has not been able to move to our anticipated direction. We still expect further momentum to the upperside. The anticipated bullish price rally is the continuation of both the impulsive waves (c) and (5) and should breakout
Wave Analysis The US Dollar continues to consolidate . Nothing much has happened on this pair since the previous trading day, we still expect further movements to the lowerside but should not go beyond 108.13-108.05. If the price breaks below this zone, then we will expect further momentum to the l