http://prntscr.com/557kib
analysis for today 11 / 11 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPAUD on the date 11 / 10 / 2014
OPEN 1.8360
HIGH 1.8403
LOW 1.8310
CLOSED 1.8368
The third resistance (R3) 1.8403 -( 1.8360 - 1.8310 = 0.0050 x 2 = 0.0101 )= 1.8504
The second Resistance (R2) 1.8360 + 1.8403 - 1.8310 = 1.8453
First resistance (R1) 1.8360 x 2 = 3.6721 - 1.8310 = 1.8411
pivot points 1.8403 + 1.8310 + 1.8368 = 5.5081 / 3 = 1.8360
Support for the first (S1) 1.8360 x 2 = 3.6721 - 1.8403 = 1.8318
Support second (S2) 1.8360 -( 1.8403 - 1.8310 = 0.0093 ) = 1.8267
Third Support (S3) 1.8310 -( 1.8403 - 1.8360 = 0.0043 x 2 = 0.0085 )= 1.8225