http://prntscr.com/45sfpf
analysis for today 7 / 24 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPCHF on the date 7 / 23 / 2014
OPEN 1.5396
HIGH 1.5430
LOW 1.5359
CLOSED 1.5374
The third resistance (R3) 1.5430 -( 1.5388 - 1.5359 = 0.0029 x 2 = 0.0057 )= 1.5487
The second Resistance (R2) 1.5388 + 1.5430 - 1.5359 = 1.5459
First resistance (R1) 1.5388 x 2 = 3.0775 - 1.5359 = 1.5416
pivot points 1.5430 + 1.5359 + 1.5374 = 4.6163 / 3 = 1.5388
Support for the first (S1) 1.5388 x 2 = 3.0775 - 1.5430 = 1.5345
Support second (S2) 1.5388 -( 1.5430 - 1.5359 = 0.0071 ) = 1.5317
Third Support (S3) 1.5359 -( 1.5430 - 1.5388 = 0.0042 x 2 = 0.0085 )= 1.5274


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