http://prntscr.com/3rnyez
analysis for today 6 / 11 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDCAD on the date 6 / 10 / 2014
OPEN 1.0198
HIGH 1.0229
LOW 1.0185
CLOSED 1.0215
The third resistance (R3) 1.0229 -( 1.0210 - 1.0185 = 0.0025 x 2 = 0.0049 )= 1.0278
The second Resistance (R2) 1.0210 + 1.0229 - 1.0185 = 1.0254
First resistance (R1) 1.0210 x 2 = 2.0419 - 1.0185 = 1.0234
pivot points 1.0229 + 1.0185 + 1.0215 = 3.0629 / 3 = 1.0210
Support for the first (S1) 1.0210 x 2 = 2.0419 - 1.0229 = 1.0190
Support second (S2) 1.0210 -( 1.0229 - 1.0185 = 0.0044 ) = 1.0166
Third Support (S3) 1.0185 -( 1.0229 - 1.0210 = 0.0019 x 2 = 0.0039 )= 1.0146


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