http://prntscr.com/4wyrtd
analysis for today 10 / 17 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/CHF on the date 10 / 16 / 2014
OPEN 0.9401
HIGH 0.9490
LOW 0.9400
CLOSED 0.9425
The third resistance (R3) 0.9490 -( 0.9438 - 0.9400 = 0.0038 x 2 = 0.0077 )= 0.9567
The second Resistance (R2) 0.9438 + 0.9490 - 0.9400 = 0.9528
First resistance (R1) 0.9438 x 2 = 1.8877 - 0.9400 = 0.9477
pivot points 0.9490 + 0.9400 + 0.9425 = 2.8315 / 3 = 0.9438
Support for the first (S1) 0.9438 x 2 = 1.8877 - 0.9490 = 0.9387
Support second (S2) 0.9438 -( 0.9490 - 0.9400 = 0.0090 ) = 0.9348
Third Support (S3) 0.9400 -( 0.9490 - 0.9438 = 0.0052 x 2 = 0.0103 )= 0.9297


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