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.
| 2022 | EURUSD | GBPUSD | USDJPY |
| 02 Desember | Wave Analysis During the previous trading day, Euro rallied to the upperside and went above the upper trendline. As it is right now, I expect nothing but a possible momentum to the upperside. The idea on this chart is to keep looking for low risk buy positions and will see the price rally towards | Wave Analysis During the previous trading day, the British pound rallied to the upperside and is still pretty much bullish both on the daily and on the weekly charts. On the hourly chart above, we expect nothing but a possible momentum to the upperside and will see the price rally towards 1.23 and | Wave Analysis During the previous trading day, the US Dollar rallied to the lowerside and is still showing signs of continuing to the lowerside. The anticipated bearish price rally is the continuation of the last impulsive wave (5) to the lowerside and will see the price rally towards 136.90 and w |
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