http://prntscr.com/4ew3h7
analysis for today 8 / 21 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPAUD on the date 8 / 20 / 2014
OPEN 1.7856
HIGH 1.7939
LOW 1.7832
CLOSED 1.7862
The third resistance (R3) 1.7939 -( 1.7878 - 1.7832 = 0.0046 x 2 = 0.0091 )= 1.8030
The second Resistance (R2) 1.7878 + 1.7939 - 1.7832 = 1.7985
First resistance (R1) 1.7878 x 2 = 3.5755 - 1.7832 = 1.7923
pivot points 1.7939 + 1.7832 + 1.7862 = 5.3633 / 3 = 1.7878
Support for the first (S1) 1.7878 x 2 = 3.5755 - 1.7939 = 1.7816
Support second (S2) 1.7878 -( 1.7939 - 1.7832 = 0.0107 ) = 1.7771
Third Support (S3) 1.7832 -( 1.7939 - 1.7878 = 0.0061 x 2 = 0.0123 )= 1.7709