My Analysis Method
First of all I just want to inform everyone read this document that it’s my one analysis effort and it could be right or wrong.
I’ll descript haw I do my analysis step by step
1. I open the monthly chart on candle display setting.
What I’m doing is looking to the chart and determent the high and low in this chart.
2. Adding the Fibo level from on the chart
3. Adding horizontal lines on the supporting and resistant areas, if these areas are not part of the fibo levels.
4. Determining the last trend channel to start the analysis on it. By adding the fibo levels and fibo fan.
5. Adding horizontal lines on the supporting and resistant areas, if these areas are not part of the fibo levels
6. Opening the weekly chart and applying the pervious steps from 1 to 5 on the weekly chart.
7. Opining the daily chart and also applying the steeps from 1-5 on the daily chart
8. Opining the 4 hour chart and also applying the steeps from 1-5 on the 4 hour chart
9. Adding horizontal line on the closeting for the previous day candle.
Haw I got my numbers from my analysis.
Well that’s why I don’t attach my chart with the analysis post every day. Because it need more attention and focusing on the all chart before...
The None Trading limits:
Determining the None Trading area limits. Which give me the indicator of the trend direction.
As in the chart we have the closing on 2.0215
I’ll draw a line on +20 from the closing at 2.0215 and -20 from the closing at 2.0195
But please note that we have the near values which they are:
The weekly 23.6 fibo at 2.0188
The monthly fibo 50.0 at 2.0247
The price could test the 23.6 fibo level easy as it’s near the down limit with less than 10 pips.
So I’ll change the None Trading area limits to be...
Up Limit Targets:
On the 4 hours chart check the liens that we insert them as strong values, and check the line that candle close on these lines and give support or resistant
We can find the closer values are:
2.0257, 2.0321 and 2.0366
Note in the charter the price show in sell price.
For more information check the 30 min chart and see these lines impact on the price
Down Limit Targets:
By applying the same method on the up limit target below the down limit target we find the following:
Support Lines:
On the daily chart I determent the strong values from the previous charts that price test them multiple time, you can check on the 1 hour and 30 min chart haw the price acting behind these values.
Resistant Lines:
By applying the same method in the support lines here, we find
Also you can check the Next Video that show all these steps:
