http://prntscr.com/4e7y7x
analysis for today 8 / 19 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPCHF on the date 8 / 18 / 2014
OPEN 1.5102
HIGH 1.5166
LOW 1.5086
CLOSED 1.5161
The third resistance (R3) 1.5166 -( 1.5138 - 1.5086 = 0.0052 x 2 = 0.0103 )= 1.5269
The second Resistance (R2) 1.5138 + 1.5166 - 1.5086 = 1.5218
First resistance (R1) 1.5138 x 2 = 3.0275 - 1.5086 = 1.5189
pivot points 1.5166 + 1.5086 + 1.5161 = 4.5413 / 3 = 1.5138
Support for the first (S1) 1.5138 x 2 = 3.0275 - 1.5166 = 1.5109
Support second (S2) 1.5138 -( 1.5166 - 1.5086 = 0.0080 ) = 1.5058
Third Support (S3) 1.5086 -( 1.5166 - 1.5138 = 0.0028 x 2 = 0.0057 )= 1.5029