http://prntscr.com/404ylr
analysis for today 7 / 7 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPJPY on the date 7 / 4 / 2014
OPEN 175.29
HIGH 175.33
LOW 174.81
CLOSED 175.16
The third resistance (R3) 175.33 - ( 175.10 - 174.81 = 0.29 x 2 = 0.58 )= 175.91
The second Resistance (R2) 175.10 + 175.33 - 174.81 = 175.62
First resistance (R1) 175.10 x 2 = 350.20 - 174.81 = 175.39
pivot points 175.33 + 174.81 + 175.16 = 525.30 / 3 = 175.10
Support for the first (S1) 175.10 x 2 = 350.20 - 175.33 = 174.87
Support second (S2) 175.10 - ( 175.33 - 174.81 = 0.52 ) = 174.58
Third Support (S3) 174.81 - ( 175.33 - 175.10 = 0.23 x 2 = 0.46 )= 174.35