http://prntscr.com/41juf2
analysis for today 7 / 11 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPCHF on the date 7 / 10 / 2014
OPEN 1.5274
HIGH 1.5303
LOW 1.5243
CLOSED 1.5285
The third resistance (R3) 1.5303 -( 1.5277 - 1.5243 = 0.0034 x 2 = 0.0068 )= 1.5371
The second Resistance (R2) 1.5277 + 1.5303 - 1.5243 = 1.5337
First resistance (R1) 1.5277 x 2 = 3.0554 - 1.5243 = 1.5311
pivot points 1.5303 + 1.5243 + 1.5285 = 4.5831 / 3 = 1.5277
Support for the first (S1) 1.5277 x 2 = 3.0554 - 1.5303 = 1.5251
Support second (S2) 1.5277 -( 1.5303 - 1.5243 = 0.0060 ) = 1.5217
Third Support (S3) 1.5243 -( 1.5303 - 1.5277 = 0.0026 x 2 = 0.0052 )= 1.5191