http://i.imgur.com/ZtUB3iz.png
analysis for today 8 / 27 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDJPY on the date 8 / 26 / 2014
OPEN 96.67
HIGH 97.00
LOW 96.41
CLOSED 96.79
The third resistance (R3) 97.00 - ( 96.73 - 96.41 = 0.32 x 2 = 0.65 )= 97.65
The second Resistance (R2) 96.73 + 97.00 - 96.41 = 97.32
First resistance (R1) 96.73 x 2 = 193.47 - 96.41 = 97.06
pivot points 97.00 + 96.41 + 96.79 = 290.20 / 3 = 96.73
Support for the first (S1) 96.73 x 2 = 193.47 - 97.00 = 96.47
Support second (S2) 96.73 - ( 97.00 - 96.41 = 0.59 ) = 96.14
Third Support (S3) 96.41 - ( 97.00 - 96.73 = 0.27 x 2 = 0.53 )= 95.88