http://prntscr.com/4gkryi
analysis for today 8 / 26 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPAUD on the date 8 / 25 / 2014
OPEN 1.7773
HIGH 1.7844
LOW 1.7761
CLOSED 1.7825
The third resistance (R3) 1.7844 -( 1.7810 - 1.7761 = 0.0049 x 2 = 0.0098 )= 1.7942
The second Resistance (R2) 1.7810 + 1.7844 - 1.7761 = 1.7893
First resistance (R1) 1.7810 x 2 = 3.5620 - 1.7761 = 1.7859
pivot points 1.7844 + 1.7761 + 1.7825 = 5.3430 / 3 = 1.7810
Support for the first (S1) 1.7810 x 2 = 3.5620 - 1.7844 = 1.7776
Support second (S2) 1.7810 -( 1.7844 - 1.7761 = 0.0083 ) = 1.7727
Third Support (S3) 1.7761 -( 1.7844 - 1.7810 = 0.0034 x 2 = 0.0068 )= 1.7693