http://prntscr.com/50k66i
analysis for today 10 / 28 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPAUD on the date 10 / 27 / 2014
OPEN 1.8294
HIGH 1.8341
LOW 1.8244
CLOSED 1.8307
The third resistance (R3) 1.8341 -( 1.8297 - 1.8244 = 0.0053 x 2 = 0.0107 )= 1.8448
The second Resistance (R2) 1.8297 + 1.8341 - 1.8244 = 1.8394
First resistance (R1) 1.8297 x 2 = 3.6595 - 1.8244 = 1.8351
pivot points 1.8341 + 1.8244 + 1.8307 = 5.4892 / 3 = 1.8297
Support for the first (S1) 1.8297 x 2 = 3.6595 - 1.8341 = 1.8254
Support second (S2) 1.8297 -( 1.8341 - 1.8244 = 0.0097 ) = 1.8200
Third Support (S3) 1.8244 -( 1.8341 - 1.8297 = 0.0044 x 2 = 0.0087 )= 1.8157


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