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.
| 2023 | EURUSD | GBPUSD | USDJPY |
| 22 9月 | EURUSD is still very bearish. From the chart above, we can see that the price is currently dropping impulsively to the downside. The price has been rejected at a major resistance zone, specifically at 1.0762, just as we expected. We anticipate the price to continue its descent, at least down to 1.0 | GBPUSD has completed the 'V', major waves pattern, with the price currently at the major impulsive wave 'V' at '1.2256'. We expect the price to move to the upside impulsively in the form of a corrective 'ABC' pattern. You can place a long position at '1.2310', with your profit target at the resist | USDJPY remains bullish, although the price has impulsively broken above the resistance zone at 147.86 and, as we can see, it has retested this zone. We expect this pair to remain bullish. The market is in an impulsive phase and is currently forming the impulsive major outer wave 'V,' which is our t |
| 21 9月 | |||
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| 18 9月 |
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