http://prntscr.com/4czjte
analysis for today 8 / 15 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPAUD on the date 8 / 14 / 2014
OPEN 1.7931
HIGH 1.7956
LOW 1.7889
CLOSED 1.7900
The third resistance (R3) 1.7956 -( 1.7915 - 1.7889 = 0.0026 x 2 = 0.0052 )= 1.8008
The second Resistance (R2) 1.7915 + 1.7956 - 1.7889 = 1.7982
First resistance (R1) 1.7915 x 2 = 3.5830 - 1.7889 = 1.7941
pivot points 1.7956 + 1.7889 + 1.7900 = 5.3745 / 3 = 1.7915
Support for the first (S1) 1.7915 x 2 = 3.5830 - 1.7956 = 1.7874
Support second (S2) 1.7915 -( 1.7956 - 1.7889 = 0.0067 ) = 1.7848
Third Support (S3) 1.7889 -( 1.7956 - 1.7915 = 0.0041 x 2 = 0.0082 )= 1.7807


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