http://prntscr.com/54uwe1
analysis for today 11 / 10 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPCHF on the date 11 / 7 / 2014
OPEN 1.5405
HIGH 1.5414
LOW 1.5312
CLOSED 1.5332
The third resistance (R3) 1.5414 -( 1.5353 - 1.5312 = 0.0041 x 2 = 0.0081 )= 1.5495
The second Resistance (R2) 1.5353 + 1.5414 - 1.5312 = 1.5455
First resistance (R1) 1.5353 x 2 = 3.0705 - 1.5312 = 1.5393
pivot points 1.5414 + 1.5312 + 1.5332 = 4.6058 / 3 = 1.5353
Support for the first (S1) 1.5353 x 2 = 3.0705 - 1.5414 = 1.5291
Support second (S2) 1.5353 -( 1.5414 - 1.5312 = 0.0102 ) = 1.5251
Third Support (S3) 1.5312 -( 1.5414 - 1.5353 = 0.0061 x 2 = 0.0123 )= 1.5189