http://prntscr.com/3ro5cx
analysis for today 6 / 11 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPAUD on the date 6 / 10 / 2014
OPEN 1.7956
HIGH 1.7982
LOW 1.7864
CLOSED 1.7872
The third resistance (R3) 1.7982 -( 1.7906 - 1.7864 = 0.0042 x 2 = 0.0084 )= 1.8066
The second Resistance (R2) 1.7906 + 1.7982 - 1.7864 = 1.8024
First resistance (R1) 1.7906 x 2 = 3.5812 - 1.7864 = 1.7948
pivot points 1.7982 + 1.7864 + 1.7872 = 5.3718 / 3 = 1.7906
Support for the first (S1) 1.7906 x 2 = 3.5812 - 1.7982 = 1.7830
Support second (S2) 1.7906 -( 1.7982 - 1.7864 = 0.0118 ) = 1.7788
Third Support (S3) 1.7864 -( 1.7982 - 1.7906 = 0.0076 x 2 = 0.0152 )= 1.7712