http://prntscr.com/557hbe
analysis for today 11 / 11 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDCHF on the date 11 / 10 / 2014
OPEN 0.8339
HIGH 0.8368
LOW 0.8333
CLOSED 0.8346
The third resistance (R3) 0.8368 -( 0.8349 - 0.8333 = 0.0016 x 2 = 0.0032 )= 0.8400
The second Resistance (R2) 0.8349 + 0.8368 - 0.8333 = 0.8384
First resistance (R1) 0.8349 x 2 = 1.6698 - 0.8333 = 0.8365
pivot points 0.8368 + 0.8333 + 0.8346 = 2.5047 / 3 = 0.8349
Support for the first (S1) 0.8349 x 2 = 1.6698 - 0.8368 = 0.8330
Support second (S2) 0.8349 -( 0.8368 - 0.8333 = 0.0035 ) = 0.8314
Third Support (S3) 0.8333 -( 0.8368 - 0.8349 = 0.0019 x 2 = 0.0038 )= 0.8295


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