http://prntscr.com/4j5y0b
analysis for today 9 / 3 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle CADCHFon the date 9 / 2 / 2014
OPEN 0.8454
HIGH 0.8455
LOW 0.8401
CLOSED 0.8404
The third resistance (R3) 0.8455 -( 0.8420 - 0.8401 = 0.0019 x 2 = 0.0038 )= 0.8493
The second Resistance (R2) 0.8420 + 0.8455 - 0.8401 = 0.8474
First resistance (R1) 0.8420 x 2 = 1.6840 - 0.8401 = 0.8439
pivot points 0.8455 + 0.8401 + 0.8404 = 2.5260 / 3 = 0.8420
Support for the first (S1) 0.8420 x 2 = 1.6840 - 0.8455 = 0.8385
Support second (S2) 0.8420 -( 0.8455 - 0.8401 = 0.0054 ) = 0.8366
Third Support (S3) 0.8401 -( 0.8455 - 0.8420 = 0.0035 x 2 = 0.0070 )= 0.8331