http://prntscr.com/4abwhb
analysis for today 8 / 8 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDCAD on the date 8 / 7 / 2014
OPEN 1.0206
HIGH 1.0208
LOW 1.0109
CLOSED 1.0126
The third resistance (R3) 1.0208 -( 1.0148 - 1.0109 = 0.0039 x 2 = 0.0077 )= 1.0285
The second Resistance (R2) 1.0148 + 1.0208 - 1.0109 = 1.0247
First resistance (R1) 1.0148 x 2 = 2.0295 - 1.0109 = 1.0186
pivot points 1.0208 + 1.0109 + 1.0126 = 3.0443 / 3 = 1.0148
Support for the first (S1) 1.0148 x 2 = 2.0295 - 1.0208 = 1.0087
Support second (S2) 1.0148 -( 1.0208 - 1.0109 = 0.0099 ) = 1.0049
Third Support (S3) 1.0109 -( 1.0208 - 1.0148 = 0.0060 x 2 = 0.0121 )= 0.9988


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