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: During the last few trading days the price rallied on the upper drendline for quite sometime,but it eventually bounced off to the lower trendline.Currently the price is headed upwards in continuation of the corrective wave cycle four.From the upper trendline I expect it to continue
Wave Analysis: Previously this pair bounced off from the upper trendline the price is massively progressing downwards, we expect the price to go up to 1.3050 or even break below further downwards in continuation of the impulsive wave cycle five. If you are looking at this pair we are short with the
Wave Analysis: This pair has been trading within the upper and the lower trendline for a while now, the price is currently headed to the upper trendline, as of now we are buyers with our first ideal target at 116.90,should the price break and close above this level then we expect further momentum t