Get started

Support_and_resistance

Falling Wedge- BullishAfter holding a long downtrend since the beginning of 2022, GOOG is finally looking ready to breakout here as Google is approaching the end of a nice falling wedge, testing the 20-day EMA while also hovering at a weekly low, heading into earnings. Bollinger bands are squeezing (Not Pictured), a bullish shark harmonic pattern, and a MACD golden cross have formed on the daily timeframe. This is accompanied by a massive falling wedge on the weekly timeframe (See Attached Chart Below), along with some bullish hidden divergence on the RSI. Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting)- Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime - (See Attached PT's &Charts Below) PT1- $91.86 PT2- $92.54 PT3- $96.23 PT4- $96.23+ --Weekly Timeframe--
NASDAQ:GOOGLong
by jacobosiason7
2
Range Bound: Analyzing Key Levels in the Bitcoin MarketYesterday, the Bitcoin market experienced significant volatility; however, Today's activity was relatively subdued as the price of bitcoin fluctuated between $20,646.5 and $21,179.5. This trend persisted throughout the Asia and London trading sessions; BTC struggled to claim the Point of Control of the current range and spent most of the time between $20,650- $20,964. After the NY Open, we saw BTC start grinding upwards, and before the NY close, the price finally reached the level at which I had intended to enter a short trade, allowing me to enter at $21,144.5. Currently, the market remains within the developing range of $21,481 to $20,400, with key levels including the Value Area High at $21,237, the Point of Control at $20,908.5, and the Value Area Low at $20,677. (These numbers can vary slightly based on price action) In terms of future market activity, there are several potential scenarios to consider. Scenario no.1: Point of Control may act as a form of support, allowing the price to continue upward to reach the 0.66 Fibonacci level and the Value Area High, then get accepted into the range and begin to move towards the Value Area Low of the range. My trading strategy would be to enter a short trade, as soon as it appears that the price is being accepted in the Value area High of the range, my TP1 would be the Point of Control, and I would allow the trade to run as I anticipate that price will break through Value area Low and grab the liquidity from $20,000 level. Scenario no.2: Price continues ranging and takes the liquidity below $20,000, fills the CME gap, gets accepted back in the range, and then continues the bull trend. It is worth noting that entering a long trade in this scenario may be challenging, as it can be a continuation of a downtrend on a long-term time frame. To minimize risk, I will be monitoring the price action closely. I will wait for the price to get acceptance within the Value Area Low of the range and at the level of $20,246 before entering a conservative long position. Based on my analysis, there are several key levels to consider before jumping into any trade. On the upward trend, key levels to consider include the 0.618 fib level and an untapped weekly level at $21,827.5. f the price manages to break through this resistance, the following significant levels to watch are the daily level at $22,393, the monthly level at $23,301, and the weekly level at $24,297. On the downward trend, a consolidation area around $18,375-$18,850 may serve as support, as it previously acted as resistance before the breakout. f the price breaks through this zone, it is advisable to look for support at levels between $17,450 - $17,750, as there are several daily Naked Point of Control levels, untapped daily levels, and a 0.66 fib level from the low to the current high. I have set alerts for all these important levels and will approach potential trades with patience, carefully observing market reactions before making any decisions. If the levels do not hold, I will remain patient and look for potential opportunities at the following levels.
BYBIT:BTCUSD.P
by Pac_Meezy
BTC Analysis and Key Levels to WatchBYBIT:BTCUSD.P As traders, we must always start our analysis with higher-term timeframe ranges. Recently, we saw the price break to the upside, and currently, it is testing the value area low of the previous range. The horizontal fib 0.618 from the high to the current low acts as a resistance. If we zoom in on the lower-term time frame, we can see that we are forming a range that started on Friday and continued over the weekend. A fixed range tool gives us significant levels ranging between 20700- 21250, which is almost a 4% range. This should be our main trading idea. Yesterday, we saw a push to the downside, which touched the value area low of the range, a swing failure pattern of the previous low, and followed with a nice buyback. The price started to claim the point of control and daily VWAP, and after some consolidation near VWAP, the price started pushing toward the top of the range, where we got another swing failure. After getting accepted back from the SFP level price continues ranging. However, sooner or later, we all know this range will break to either upside or downside. As a trader, we need levels, both to the upside to back up the bullish scenario and to the downside for the bearish scenario. At this point in time, I expect more upside price action. On the upside, we have the NSPOC (Naked Session Point of Control) level at 21725, the weekly level, the fib level 0.618, and the previous range VAH (Volume area high) level around 21827.5. But if the price breaks to the downside, we have a little consolidation around the 18375-18850 area; we do have VAL of the previous range along with the last support area. So we can expect a reaction here. But if the momentum is strong, then we can expect lower. We have daily naked points of control at $17,725 and $17450, along with 0.618 fib level around $17,550. I will expect some reaction here. In conclusion, it's crucial to constantly keep an eye on critical levels such as Current range volume areas and horizontal fib levels, as they can be important in determining the market's direction. Always have a plan and be prepared for bullish and bearish scenarios. Happy trading!
BYBIT:BTCUSD.P
by Pac_Meezy
Flagging on the 5-YearAAPL is looking quite nice here after reclaiming its 50-Day SMA. AAPL is currently testing the upper trendline of this falling wedge on the daily timeframe, while simultaneously flagging on the weekly timeframe, accompanied by a bullish butterfly harmonic pattern, a MACD golden cross, and a double bottom (See Attached Chart Below). While all signs point to bullish, personally, I would like to see some consolidation prior to scaling into some Feb 2023' Calls to play the run-up to its earnings in January. Nevertheless, AAPL is still looking primed for a breakout on the daily timeframe holding a falling wedge with buyers stepping in as depicted on the RSI along with some bullish hidden divergence. Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting). Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- Price Targets & Previous charts are attached below PT1- $152.48 PT2- $154.12 PT3- $156.98 PT4- $160.14+ Weekly Timeframe Previously Charted
NASDAQ:AAPLLong
by jacobosiason7
1
Symmetrical Triangle - Watching closelyWatching LAC and the lithium sector closely here- LAC is currently holding a massive symmetrical triangle on the daily timeframe while holding an even larger falling wedge on the weekly timeframe (See Attached Charts Below). Additionally, LAC is sitting right on its 100-day SMA, which, is has been acting as a strong support level for quite some time. LAC's EMAs are starting to curl upwards as well (Not Pictured), accompanied with a bullish cypher harmonic pattern on the daily timeframe, and lastly some bullish hidden divergence on the RSI on the weekly timeframe. Bullish and will be looking for a breakout from this triangle (Broader Market Conditions Permitting)- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones in the meantime -- Price Targets & Previous Charts Attached In Description - PT1- $27.69 PT2- $28.56 PT3- $29.96 PT4- $31.15 --Weekly Timeframe-- --Previously Charted--
NYSE:LACLong
by jacobosiason7
2
AUDCAD > What Is He best Place for A Buy!!Analysis of #AUDCAD Hi traders, today we will have a look at #AUDCAD The AUDCAD also broke out of its resistance structure level as you can see, and the perfect way of trading now is to look for a trend continuation pattern such as a Flag pattern, or wedge pattern, Triangle pattern, or wait for the market to come and test the previous structure support now becomes a resistance level I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Long
by TheTradersAvenue
22
Falling Wedge - BreakoutDDOG starting to look quite nice here as buyers are starting to step in so long that the broader markets don't pullback. DDOG has been holding a big falling wedge for quite some time, getting rejected by the 20-day SMA, however will be keeping a close eye on DDOG with buyer volume starting to increase relative to seller volume. Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting)- Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime **(See Attached PT's &Charts Below)** Daily Timeframe - Bullish Hidden Divergence on the RSI - Falling Wedge - Bollinger Bands Squeezing 4-Hour Timeframe - Bollinger Bands Squeezing - Falling Wedge - Bullish Gartley Harmonic Pattern PT1- $89.90 PT2- $95.37 PT3- $99.34 PT4- $103.39+
NASDAQ:DDOGLong
by jacobosiason7
1
Falling Wedge- Bullish (Long) - UpdatePosting a quick update here on SQ as buyer volume finally picked up and SQ closed the day breaking above strong resistance at the $68.84 mark while also reclaiming its 20-Day EMA. SQ has been trading sideways for quite some time and is seemingly breaking out of this falling wedge heading into earnings on 9/22' and with quadruple witching this coming Friday. Additionally, SQ closed out the weak with a golden cross on the MACD. On top of that, SQ's RSI is finally out of oversold territory on the weekly timeframe, accompanied by a massive bullish harmonic pattern and its Bollinger bands squeezing. Personally am bullish and am looking for a breakout, however, will add some downside protection due to how long SQ's been trading sideways. Nevertheless, bullish and will be watching closely for a breakout from this wedge as buyers continue to step in (broader market conditions permitting- earnings & quadruple witching)- Just some support and resistance levels along with some RSI-based supply and demand zones to keep an eye on in the meantime. **See Below for Price Targets, Weekly Timeframe, and Previous Charts** --Weekly Timeframe-- - Falling Wedge - Bullish Harmonic Formed on the Daily & Weekly Timeframes - Bollinger Bands Squeezing - Closed Friday Breaking Above Strong Resistance - RSI Finally Out of Oversold Territory PT1- $78.82 PT2- $81.03 PT3- $86.76 PT4- $90.71+
NYSE:XYZLong
by jacobosiason7
2
Range Trading Meets Pattern TradingMany times I enter discussions where people tend to bash pattern trading... ...saying that pattern trading is not actionable, that "most reversal patterns fail while most continuation patterns succeed", that "most diagonal patterns fail while most horizontal patterns work", that you can't derive direction from them. My answer is always that direction is not derived from the pattern itself (that would be statistically based only), but instead is derived from both interior and exterior context. When searching for actionable setups, again, patterns and diagonals will mostly provide bias, signs such as exhaustion and trend shifts, while horizontal SR (Support & Resistance) levels will actually be the ones we'll be looking for actionable setups. Here's a quick example of a Rising Wedge divided in three constantly smaller ranges showing a slowing down of the trend, where we can start seeing exhaustion by the constant failed breakouts of HORIZONTAL levels, and where one can derive potential direction bias from the first DIAGONAL trend break... ...potentially expecting now a cascade effect from smaller ranges down to the larger ranges, providing larger and larger expansion gaps ultimately running the Rising Wedge pattern target.
INDEX:BTCUSDShort
by Masserra
1
Falling Wedge- Bullish- Keeping a close eye on CRM here as its finally starting to break out of this falling wedge it's been holding for quite some time now. Big increase in buyer volume relative to seller volume as shown on the RSI with some slight bullish divergence on the daily timeframe, and some more bullish divergence on the weekly timeframe (See Attached Chart Below). - CRM closed out the week reclaiming its 20-Day SMA while also testing the upper trend line on the falling wedge it's been holding. On top of all that, CRM's EMAs are starting to curl upwards, with multiple gaps to fill on the upside heading into earnings, all signs pointing towards a breakout. - Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting)- Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime --Weekly chart & Price Targets Attached Below-- PT1- $192.54 PT2- $196.23 PT3- $202.72 PT4- $205.18 + --Weekly Timeframe--
NYSE:CRMLong
by jacobosiason7
Bullish- Watching Closely Keeping a close eye here on CRWD heading into earnings on 10/8'. CRWD has been testing the $195.11 mark for quite some time now and just closed out the week reclaiming its 20-Day SMA. Additionally, it would look like a smaller ascending triangle is forming within a broader falling wedge, accompanied by some slight bullish hidden divergence on the RSI, Bollinger bands squeezing (Not Pictured), and an increase in buyer volume relative to seller volume- all points to a breakout coming. I will be looking for a breakout from this wedge (Broader Markets Permitting) - Just some support and resistance levels along with some RSI-based supply and demand zones to keep an eye on in the meantime - Bullish and looking for a breakout from this wedge & triangle --Previous Charts & Price Targets Attached Below-- PT1- $189.36 PT2- $187.64 PT3- $191.48 PT4- $195.37
NASDAQ:CRWDLong
by jacobosiason7
3