http://prntscr.com/3psqqq
analysis for today 6 / 5 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPAUD on the date 6 / 4 / 2014
OPEN 1.8072
HIGH 1.8081
LOW 1.7984
CLOSED 1.8035
The third resistance (R3) 1.8081 -( 1.8033 - 1.7984 = 0.0049 x 2 = 0.0099 )= 1.8180
The second Resistance (R2) 1.8033 + 1.8081 - 1.7984 = 1.8130
First resistance (R1) 1.8033 x 2 = 3.6067 - 1.7984 = 1.8083
pivot points 1.8081 + 1.7984 + 1.8035 = 5.4100 / 3 = 1.8033
Support for the first (S1) 1.8033 x 2 = 3.6067 - 1.8081 = 1.7986
Support second (S2) 1.8033 -( 1.8081 - 1.7984 = 0.0097 ) = 1.7936
Third Support (S3) 1.7984 -( 1.8081 - 1.8033 = 0.0048 x 2 = 0.0095 )= 1.7889


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