http://prntscr.com/53i8de
analysis for today 11 / 6 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDCAD on the date 11 / 5 / 2014
OPEN 0.9967
HIGH 0.9982
LOW 0.9751
CLOSED 0.9780
The third resistance (R3) 0.9982 -( 0.9838 - 0.9751 = 0.0087 x 2 = 0.0173 )= 1.0155
The second Resistance (R2) 0.9838 + 0.9982 - 0.9751 = 1.0069
First resistance (R1) 0.9838 x 2 = 1.9675 - 0.9751 = 0.9924
pivot points 0.9982 + 0.9751 + 0.9780 = 2.9513 / 3 = 0.9838
Support for the first (S1) 0.9838 x 2 = 1.9675 - 0.9982 = 0.9693
Support second (S2) 0.9838 -( 0.9982 - 0.9751 = 0.0231 ) = 0.9607
Third Support (S3) 0.9751 -( 0.9982 - 0.9838 = 0.0144 x 2 = 0.0289 )= 0.9462


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