analysis for today 5 / 19 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPAUD on the date 5 / 16 / 2014
OPEN 1.7939
HIGH 1.7990
LOW 1.7923
CLOSED 1.7949
The third resistance (R3) 1.7990 -( 1.7954 - 1.7923 = 0.0031 x 2 = 0.0062 )= 1.8052
The second Resistance (R2) 1.7954 + 1.7990 - 1.7923 = 1.8021
First resistance (R1) 1.7954 x 2 = 3.5908 - 1.7923 = 1.7985
pivot points 1.7990 + 1.7923 + 1.7949 = 5.3862 / 3 = 1.7954
Support for the first (S1) 1.7954 x 2 = 3.5908 - 1.7990 = 1.7918
Support second (S2) 1.7954 -( 1.7990 - 1.7923 = 0.0067 ) = 1.7887
Third Support (S3) 1.7923 -( 1.7990 - 1.7954 = 0.0036 x 2 = 0.0072 )= 1.7851


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