http://prntscr.com/3nm3is
analysis for today 5 / 29 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPAUD on the date 5 / 28 / 2014
OPEN 1.8149
HIGH 1.8167
LOW 1.8076
CLOSED 1.8087
The third resistance (R3) 1.8167 -( 1.8110 - 1.8076 = 0.0034 x 2 = 0.0068 )= 1.8235
The second Resistance (R2) 1.8110 + 1.8167 - 1.8076 = 1.8201
First resistance (R1) 1.8110 x 2 = 3.6220 - 1.8076 = 1.8144
pivot points 1.8167 + 1.8076 + 1.8087 = 5.4330 / 3 = 1.8110
Support for the first (S1) 1.8110 x 2 = 3.6220 - 1.8167 = 1.8053
Support second (S2) 1.8110 -( 1.8167 - 1.8076 = 0.0091 ) = 1.8019
Third Support (S3) 1.8076 -( 1.8167 - 1.8110 = 0.0057 x 2 = 0.0114 )= 1.7962


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