http://prntscr.com/4jsm0q
analysis for today 9 / 5 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDJPY on the date 9 / 4 / 2014
OPEN 97.87
HIGH 98.52
LOW 97.81
CLOSED 98.33
The third resistance (R3) 98.52 - ( 98.22 - 97.81 = 0.41 x 2 = 0.82 )= 99.34
The second Resistance (R2) 98.22 + 98.52 - 97.81 = 98.93
First resistance (R1) 98.22 x 2 = 196.44 - 97.81 = 98.63
pivot points 98.52 + 97.81 + 98.33 = 294.66 / 3 = 98.22
Support for the first (S1) 98.22 x 2 = 196.44 - 98.52 = 97.92
Support second (S2) 98.22 - ( 98.52 - 97.81 = 0.71 ) = 97.51
Third Support (S3) 97.81 - ( 98.52 - 98.22 = 0.30 x 2 = 0.60 )= 97.21