http://prntscr.com/4thmiv
analysis for today 10 / 6 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPAUD on the date 10 / 3 / 2014
OPEN 1.8333
HIGH 1.8454
LOW 1.8298
CLOSED 1.8407
The third resistance (R3) 1.8454 -( 1.8386 - 1.8298 = 0.0088 x 2 = 0.0177 )= 1.8631
The second Resistance (R2) 1.8386 + 1.8454 - 1.8298 = 1.8542
First resistance (R1) 1.8386 x 2 = 3.6773 - 1.8298 = 1.8475
pivot points 1.8454 + 1.8298 + 1.8407 = 5.5159 / 3 = 1.8386
Support for the first (S1) 1.8386 x 2 = 3.6773 - 1.8454 = 1.8319
Support second (S2) 1.8386 -( 1.8454 - 1.8298 = 0.0156 ) = 1.8230
Third Support (S3) 1.8298 -( 1.8454 - 1.8386 = 0.0068 x 2 = 0.0135 )= 1.8163