http://prntscr.com/3q3s90
analysis for today 6 / 6 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPJPY on the date 6 / 5 / 2014
OPEN 171.94
HIGH 172.28
LOW 171.59
CLOSED 172.23
The third resistance (R3) 172.28 - ( 172.03 - 171.59 = 0.44 x 2 = 0.89 )= 173.17
The second Resistance (R2) 172.03 + 172.28 - 171.59 = 172.72
First resistance (R1) 172.03 x 2 = 344.07 - 171.59 = 172.48
pivot points 172.28 + 171.59 + 172.23 = 516.10 / 3 = 172.03
Support for the first (S1) 172.03 x 2 = 344.07 - 172.28 = 171.79
Support second (S2) 172.03 - ( 172.28 - 171.59 = 0.69 ) = 171.34
Third Support (S3) 171.59 - ( 172.28 - 172.03 = 0.25 x 2 = 0.49 )= 171.10