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 Euro continues to rally to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As long as the price remains above the upper trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continua
Wave Analysis Yesterday, the British pound created a fresh high by reaching the high of 1.42375. As long as the price does not clearly break and close above this zone, we are looking for a sell position from this point. This is a weekly resistance level and while we are not able to see any clear br
Wave Analysis Nothing much happened on this pair during the previous trading day. As it is now, we are still expecting further momentum to the upperside and should breakout above 105.489 with the next ideal target at 106.730. The anticipated bullish price rally is the continuation of the impulsive