http://prntscr.com/4yjwjt
analysis for today 10 / 22 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDCHF on the date 10 / 21 / 2014
OPEN 0.8280
HIGH 0.8364
LOW 0.8262
CLOSED 0.8332
The third resistance (R3) 0.8364 -( 0.8319 - 0.8262 = 0.0057 x 2 = 0.0115 )= 0.8479
The second Resistance (R2) 0.8319 + 0.8364 - 0.8262 = 0.8421
First resistance (R1) 0.8319 x 2 = 1.6639 - 0.8262 = 0.8377
pivot points 0.8364 + 0.8262 + 0.8332 = 2.4958 / 3 = 0.8319
Support for the first (S1) 0.8319 x 2 = 1.6639 - 0.8364 = 0.8275
Support second (S2) 0.8319 -( 0.8364 - 0.8262 = 0.0102 ) = 0.8217
Third Support (S3) 0.8262 -( 0.8364 - 0.8319 = 0.0045 x 2 = 0.0089 )= 0.8173


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