http://prntscr.com/565k3o
analysis for today 11 / 13 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle CADCHFon the date 11 / 12 / 2014
OPEN 0.8534
HIGH 0.8540
LOW 0.8452
CLOSED 0.8470
The third resistance (R3) 0.8540 -( 0.8487 - 0.8452 = 0.0035 x 2 = 0.0071 )= 0.8611
The second Resistance (R2) 0.8487 + 0.8540 - 0.8452 = 0.8575
First resistance (R1) 0.8487 x 2 = 1.6975 - 0.8452 = 0.8523
pivot points 0.8540 + 0.8452 + 0.8470 = 2.5462 / 3 = 0.8487
Support for the first (S1) 0.8487 x 2 = 1.6975 - 0.8540 = 0.8435
Support second (S2) 0.8487 -( 0.8540 - 0.8452 = 0.0088 ) = 0.8399
Third Support (S3) 0.8452 -( 0.8540 - 0.8487 = 0.0053 x 2 = 0.0105 )= 0.8347


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