http://prntscr.com/4jhx02
analysis for today 9 / 4 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPAUD on the date 9 / 3 / 2014
OPEN 1.7754
HIGH 1.7768
LOW 1.7589
CLOSED 1.7608
The third resistance (R3) 1.7768 -( 1.7655 - 1.7589 = 0.0066 x 2 = 0.0132 )= 1.7900
The second Resistance (R2) 1.7655 + 1.7768 - 1.7589 = 1.7834
First resistance (R1) 1.7655 x 2 = 3.5310 - 1.7589 = 1.7721
pivot points 1.7768 + 1.7589 + 1.7608 = 5.2965 / 3 = 1.7655
Support for the first (S1) 1.7655 x 2 = 3.5310 - 1.7768 = 1.7542
Support second (S2) 1.7655 -( 1.7768 - 1.7589 = 0.0179 ) = 1.7476
Third Support (S3) 1.7589 -( 1.7768 - 1.7655 = 0.0113 x 2 = 0.0226 )= 1.7363


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