http://prntscr.com/4wyso8
analysis for today 10 / 17 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDCHF on the date 10 / 16 / 2014
OPEN 0.8299
HIGH 0.8302
LOW 0.8200
CLOSED 0.8252
The third resistance (R3) 0.8302 -( 0.8251 - 0.8200 = 0.0051 x 2 = 0.0103 )= 0.8405
The second Resistance (R2) 0.8251 + 0.8302 - 0.8200 = 0.8353
First resistance (R1) 0.8251 x 2 = 1.6503 - 0.8200 = 0.8303
pivot points 0.8302 + 0.8200 + 0.8252 = 2.4754 / 3 = 0.8251
Support for the first (S1) 0.8251 x 2 = 1.6503 - 0.8302 = 0.8201
Support second (S2) 0.8251 -( 0.8302 - 0.8200 = 0.0102 ) = 0.8149
Third Support (S3) 0.8200 -( 0.8302 - 0.8251 = 0.0051 x 2 = 0.0101 )= 0.8099


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