analysis for today 8 / 22 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDJPY on the date 8 / 21 / 2014
OPEN 96.29
HIGH 96.55
LOW 95.96
CLOSED 96.54
The third resistance (R3) 96.55 - ( 96.35 - 95.96 = 0.39 x 2 = 0.78 )= 97.33
The second Resistance (R2) 96.35 + 96.55 - 95.96 = 96.94
First resistance (R1) 96.35 x 2 = 192.70 - 95.96 = 96.74
pivot points 96.55 + 95.96 + 96.54 = 289.05 / 3 = 96.35
Support for the first (S1) 96.35 x 2 = 192.70 - 96.55 = 96.15
Support second (S2) 96.35 - ( 96.55 - 95.96 = 0.59 ) = 95.76
Third Support (S3) 95.96 - ( 96.55 - 96.35 = 0.20 x 2 = 0.40 )= 95.56
the price movement can see in the up trend side and the cci indicator is also moving above the +100 level. the price break pivot point and making pull up. if this is break the resistance at 96.35 level then make long entry with take profit 97.00 and stop loss at 95.90
good luck


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