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Resistance_level

CME Bitcoin Futures Breakout! 28,000 Next?From May12 - June 12, CME Bitcoin Futures saw a support level of ~28,000, which was broken on June 12 with a GAP lower. We have recently seen a CONSOLODATION PENNANT, formed with higher lows, and lower highs! Higher lows: ~18,500 June 30, ~18,830 July 13, ~20,700 July 26. The UPTREND line is drawn from ~18,830 to~20,700. Lower highs: ~24,300 July20, ~23350 July 22, ~23,000 July 27. The DOWNTREND line is drawn from all 3. The BREAKOUT occurred once the CME Bitcoin Futures broke through ~23,000! How to measure upside potential after a BREAKOUT of a PENNANT: Calculate the distance from the widest point, and add to the BREAKOUT point. This would give us ~28,800. Why is ~28,800 significant? THIS WOULD FILL THE GAP MADE ON JUNE 12! GAPS tend to be filled before a market makes a pivot! Takeaways: Previous SUPPORT of ~28,000 is now new RESISTANCE. This is going to be a difficult level to chew through! Possible STOP levels for longs: ~21,500 (continuation of UPTREND line of PENNANT. ~Uptrend will be violated if ~20,700 is broken with conviction. This would now be a lower low, which is the definition of a DOWNTREND. FEEL FREE TO REACH OUT WITH ANY TECHNICAL ANALSYS OR FUTURES QUESTIONS! WE APPRECIATE OUR FOLLOWERS! LIKE/COMMENT/FOLLOW! ❤️
CME:BTC1!Long
by Paul_Wankmueller
ZECUSDT is testing the weekly resistance The price is in the consolidation phase between the monthly and weekly resistance On the 4h timeframe the price had a breakout and retest the previous resistance as new support. how to approach it? IF the price is going to have a breakout from the weekly resistance and retest as new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
Zydus Lifescience testing Historic ResistanceZydus Life-science at important level of resistance, the stock took support from historical support zone and has consolidated the down fall with a good stretch of time. It has gone through a good accumulation and has made a good support base. now the stock has positioned itself to an up move after making series of higher lows from support zone. the stock has tested historical resistance multiple times during this consolidation. the stock has given an impressive quarter results beating the estimates. which is the catalyst for the movement. targets mentioned on the chart is based on fib levels taken from previous high to low levels. the volume popup is supporting the price action the stock may retest the B/O and a successful B/O will give a handsome gains with 1:1.4 risk reward. Tgt 2 is for a medium to long term view. this is not a call / recommendation. Please do your own research and drop your inputs in the comment section.
NSE:ZYDUSLIFELong
by harshith67
5
USDCAD Is Pointing Lower Within Wave C/3Hello traders, we have another important week for global markets as speculators are going to focus on CPI report from the United States, to see if prices are coming down or no. This data will be released on Wednesday, so until then we may not see a log of changes regarding the current trends. We see still stocks in a strong recovery mode with room for more upside while USD can see a sell-off, especially vs commodity currencies which are very strong. AUD, NZD and even CAD can see more upside, despite lower crude. But if crude would stabilize we think that USDCAD has a very good chance to break the support. From an Elliott wave perspective, we see three legs up, possibly already a completed correction on the intraday chart. Break below wave b swing near 1.2815 calls 1.27. Grega If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Short
by ew-forecast
4
BNB- Serious Resistance is NowClose to 319 Resistance (Fib level 0,61) it's ideal (to me) for a short position.. not to mention the flag which can bring volatility soon. At the same time check my previous posts/ideas for my other set-ups and most importantly look at this: Mondays are Red🩸 Ends are Weak💤 Yet we Rise✔️ We might as well have patience and yes: the market will most likely continue to rise but not on a straight line. DYOR and learn how to trade: it does pay out eventually. One Love, The FXPROFESSOR
by FX_Professor
1
Equities at Technical Resistance with BULL Market StructureDJ:DJI NASDAQ:NDX SP:SPX Equities have rallied in June 2022. However, here in the S&P500 chart we can see a patter that is true for all 3 equity indexes. All three indexes (DOW, SP500, NASDAQ) are at a technical resistance level. This means that it is at a price level that it previously attempted, but was unable to cross above. Let's consider that the price action AND RSI oscillator have been making prominent and consistent higher low and higher high which show that the current bull run is STRONG and backed by a bullish market structure. Now that the bullish market structure has carried the price all the way to technical resistance what will happen next? I see three possibilities (1=least likely, 3=most likely) #1. Backed by this strong bullish market structure, the price will close above technical resistance and form a new support level from that previous resistance level. This will also single a continuation to further growth in the markets and a possible end to this bear market. #2. Resistance level will stay the same, price will go down but still form a higher low. Price then rallies back up to the resistance level and proceeds the same as #1. #3. Resistance level will stay the same, price will go down all the way to the support level or even lower. Signaling a continued bear market. I will most definitely be on the lookout for how this level gets resolved.
SP:SPX
by jdm69