Get started

Support and Resistance

Potential bull flag breakout on AUD/JPYA potential bull flag on the 1-hour chart of AUD/JPY has caught my eye, and a closer look at volumes also suggests it worthy of consideration. The weekly CVM (cumulative volume delta) has confirmed the recent rally into the bull flag pattern, but is also breakout out of its own flag to suggest bullish pressure is building. It is also near its own weekly high, a break above which provides another bullish clue. Trading volumes were rising alongside prices before they entered the sideways consolidation (bull flag), so I am now on guard for a break higher of prices. Bulls could seek dips towards the daily pivot point (97.32) for a move up to 97.80, just beneath the daily S1 pivot. A break above 98 assumes bullish continuation up to 98.50 near a weekly VPOC (volume point of control). Matt Simpson, Market Analyst at City Index and Forex.com
Long
by CityIndex
Today analysis for Nasdaq, Oil, and GoldNASDAQ The NASDAQ closed higher, combining two days of movement into one candle. As anticipated, it rose during the pre-market session but declined during the main session. The daily chart formed a bullish candle, confirming yesterday's buy signal. The bullish trend on the daily chart is likely to continue, but with the current significant gap between the 3-day and 5-day moving averages, a pullback followed by renewed buying pressure is expected. It is essential to focus on dip-buying rather than chasing prices. However, keep in mind that the weekly chart still shows a sell signal, and both the MACD and signal line on the daily chart remain below the zero line, indicating the possibility of a reversal to a bearish wave at any time. On the 240-minute chart, the buy signal is intact, and the upward trend continues. However, there is no significant improvement in market liquidity. A strong bullish candle that breaks the box range is needed, but such a move has not yet materialized. Therefore, pre-market sessions may show mixed movements. Selling at resistance levels for box-range trading is advisable. Be mindful of potential volatility due to executive orders from President Trump, which could lead to sharp price swings. CRUDE OIL Crude oil closed lower, finding support at the $75 level. As mentioned previously, the $74–$75 range aligns with the 5-day moving average on the weekly chart and serves as a critical support zone, making it a favorable area for dip-buying. With a 400-tick drop from the $79 high and no dead cross between the MACD and signal line on the daily chart, there is a high probability that oil will rebound as the MACD supports the signal line. On the 240-minute chart, the MACD and signal line have dipped below the zero line, which could accelerate selling momentum. However, the 60-period moving average on the 240-minute chart continues to slope upward, suggesting that selling should be avoided and buying at key support levels is a better approach. GOLD Gold closed higher, leaving a lower wick near key support levels. On the weekly chart, resistance remains overhead, but the daily chart indicates that the trend could continue upward, making dip-buying a favorable strategy. The MACD and signal line on the daily chart remain in an upward trajectory, and a breakout above the 2760 resistance level could open the way to 2780. On shorter timeframes, consolidation followed by a golden cross of the MACD and signal line is evident, while the 240-minute chart has also confirmed a golden cross. Although further upside is likely, the significant divergence between the MACD and its previous peaks on the 240-minute chart increases the probability of divergence after a substantial rally. Therefore, refrain from chasing prices after a sharp rise and instead focus on buying dips near key support levels while monitoring the breakout above 2760. Market volatility is intensifying due to President Trump’s remarks. Similar patterns were observed during his first term, as his statements, often made via social media, caused significant fluctuations in the futures markets. Ensure proper stop-loss levels and manage risks carefully in this volatile environment. ■Trading Strategies for Today NASDAQ - Range-bound Market -Buy: 21770 / 21710 / 21630 / 21590 / 21530 -Sell: 21880 / 21940 / 22040 / 22110 Crude Oil - Bullish Market -Buy: 75.10 / 74.60 / 73.60 / 73.00 -Sell: 76.30 / 76.70 / 77.10 / 77.50 Gold - Bullish Market -Buy: 2751 / 2743 / 2738 / 2731 -Sell: 2767 / 2777 / 2782 / 2787 These strategies apply only during pre-market hours. Profit-taking and stop-loss levels are as follows: Nasdaq: 15 points, Oil and Gold: 20 ticks. If you liked this analysis, please follow me and give it a boost!
CME_MINI:NQ1!
by Futureguard
QQQ Trade IdeaLong and short trade ideas for QQQ. Hard to tell where price is going in the short term, so avoiding swing trades for now. Long Trade Idea Entry: Below previous high and a 1.618 Fibonacci level. Target: A past day's 1.618 Fibonacci level Short Trade Idea Entry: Above the channel drawn on the Daily chart Target: Past day's 1.618 Fibonacci level. Exact entry and targets are based on price action. I do not set limit orders. KEY: -White Horizonal Lines: Support/resistance level. -Green Horizontal Lines: 1.618 Fibonacci level from a previous day
NASDAQ:QQQ
by PennantTrading
1/21/25 - RIGL: new BUY mechanical trading signal.1/21/25 - RIGL: new BUY signal chosen by a rules based, mechanical trading system. RIGL - BUY Stop Loss @ 16.25 Entry BUY @ 21.81 Target Profit @ 27.80 Analysis: Higher timeframe: Prices have stayed above the lower channel line of the ATR (Average True Range) Keltner Channel and reversed. Higher timeframe: Victor Sperandeo's (Trader Vic) classic 1-2-3 BUY pattern...where the current lowest bottom breakout price is greater than the preceding bottom price. Higher timeframe: Price peaked below the ATR (Average True Range) breakout low and then reversed.
NASDAQ:RIGLLong
by martinmlm
AMZN Trade IdeaAmazon is playing well with this resistance zone. I have a short and long entry set based on Fibonacci levels. Long trade idea: Entry: Above Supply zone Target: A 1.618 Fibonacci level drawn in the past. Short trade idea: Entry: Below Supply zone Target: 1.618 Fibonacci Whither I enter the trade or not depends on price action. KEY: -White Horizonal Lines: Previous resistance levels. -Green Horizontal Lines: 1.618 fib level (previous days). -Green boxes: Supply and demand
NASDAQ:AMZN
by PennantTrading
Why dips appear favourable for AUD/USD bullsTrump's reluctance immediately sign an executive order to implement tariffs on China has allowed the yuan to rise against the US dollar. And where the yuan goes, AUD/USD tends to follow these days. And give AUD/USD has already seen an extended move to the downside, some bullish mean reversion is surely due. The weekly RSI reached oversold ahead of a false break of the 2022 low, and a bullish divergence also formed on the daily RSI. A higher low has formed on prices, and I suspect AUD/USD is due at least one more leg higher. Bulls could seek dips towards 0.621 or the 10/20-day EMAs in anticpation of a move up towards the August low, a break above which brings 65c into view near the high-volume node (HVN) from the decline from September to January. Matt Simpson, Market Analyst at City Index and Forex.com
Long
by CityIndex
$TIAUSDT on the Brink – 4.6 Accumulation for Big Moves to ATHsBINANCE:TIAUSDT Bottoming Out – Accumulating Below 4.6 for the Breakout Looks like BINANCE:TIAUSDT is bottoming here, but it might take a couple of weeks for a breakout. I’m patiently accumulating under 4.6. The daily hasn’t triggered a signal above 5.5 yet, so no rush to add above my current buy zone. Last time I was expecting new ATHs, so this time I’ll chill and just call it – Our final stand towards ATHs 😂 Solid setup, just needs time.
Long
by ZelfTrade
$TIA: Ready to Breakout After 5 Months of Consolidation? I think LSE:TIA is finally primed for a breakout after spending the last five months consolidating in the tight $4–$6 range. The lows have been respected multiple times, and we're now seeing the buildup of potential for a significant move. I’m eyeing an entry at $4.85, which would be a perfect spot to load up if we get a retrace into that zone. If it does dip back there, it's a max bid scenario for me. However, I'm also prepared to jump in a bit higher if needed, especially if I get left behind as the breakout gains momentum. It's a balancing act between waiting for the perfect entry and not missing out on the move entirely. Let’s see how it plays out—I'm keeping a close watch!
Long
by ZelfTrade
ETHUSD - Weekly Forecast - Technical Analysis & Trading IdeasMidterm forecast: While the price is above the support 2726.71, resumption of uptrend is expected. We make sure when the resistance at 4100.00 breaks. If the support at 2726.71 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend. A trough is formed in daily chart at 2908.80 on 01/13/2025, so more gains to resistance(s) 3508.51, 3695.27 and maximum to Major Resistance (4100.00) is expected. Take Profits: 3695.27 4100.00 4500.00 4868.00 __________________________________________________________________ ❤️ If you find this helpful and want more FREE forecasts in TradingView, . . . . . Please show your support back, . . . . . . . . Hit the 👍 BOOST button, . . . . . . . . . . . Drop some feedback below in the comment! 🙏 Your Support is appreciated! Let us know how you see this opportunity and forecast. Have a successful week, ForecastCity Support Team
BINANCE:ETHUSDLong
by ForecastCity
15
SOYBEAN at Key Resistance Level – Will Sellers Take Control?FOREXCOM:SOYBEAN has reached a significant resistance level. This level has consistently acted as a key area of interest where sellers regained control, leading to prior reversals. If the price action confirms a rejection, I anticipate a move downward toward the 1,030 level. However, if the price successfully breaks and holds above the zone, this would invalidate the bearish outlook and could open the door for further upside. Traders should monitor price action closely at this critical resistance area. Proper risk management is essential, given the possibility of price breaking higher. If this analysis resonates with you or you have a different perspective, feel free to discuss in the comments!
FOREXCOM:SOYBEANShort
by DanieIM
1
FTSE 100 Wave Analysis 21 January 2025 - FTSE 100 broke strong resistance level 8400.00 - Likely to rise to resistance level 8600.00 FTSE 100 index rising sharply after the price broke the strong resistance level 8400.00, which is the upper border of the sideways price range inside which the index has been moving from the start of 2024. The breakout of this price range inside accelerated the active impulse waves iii and 3, which belong to the weekly upward impulse sequence (3) from the start of 2023. Given the overriding uptrend seen on weekly charts, FTSE 100 index can be expected to rise to the next resistance level 8600.00, the target price for the completion of the active impulse wave iii.
FTSE:UKXLong
by FxProGlobal
Gold Wave Analysis 21 January 2025 - Gold under bullish pressure - Likely to rise to resistance level 2785.00 Gold under the bullish pressure after the earlier breakout of the key resistance level 2710.00, which has been steadily reversing the price from November. The breakout of the resistance level 2710.00 accelerated the active impulse wave 3, which belongs to the medium-term impulse wave (3) from December. Given the clear uptrend that can be seen on the daily and the weekly charts, Gold can be expected to rise to the next resistance level 2785.00, former multi-month high from October.
FX_IDC:XAUUSDLong
by FxProGlobal
ETH 50% BOOM📈 Overall Trend: The chart indicates significant fluctuations in the price of Diaocesan against the US Dollar. The price started at around 5400 units and has gradually decreased over time. 🛡️ Support and Resistance Levels: Support Level: The price has reached around 2140 units at several points, which can be considered a support level. Resistance Level: The price reached around 5400 units at the beginning of the period (April 2024), which can be considered the main resistance level. 📉 Recent Fluctuations: In recent months, the price of Diaocesan has been declining, reaching around 2140 units. This decrease may indicate strong selling pressure or reduced demand for this currency. 🔮 Forecast: Given the recent downward trend and price decline, we may see this trend continue in the short term. However, if the price reaches a strong support level, we might witness a price rebound or stabilization. Traders should look for signs of a trend reversal or a breakdown of the support level to make their trading decisions. 📊 This analysis is based on the information available in the image, and for more accurate decision-making, further examination and the use of technical and fundamental analysis tools are recommended. 🛠️📉📈
BITSTAMP:ETHUSDLong
by ahmadarz
NZDJPY to find sellers at market price?NZDJPY - 24h expiry The primary trend remains bearish. The sequence for trading is lower lows and highs. Preferred trade is to sell into rallies. Risk/Reward would be poor to call a sell from current levels. Bespoke resistance is located at 88.15. We look to Sell at 88.27 (stop at 88.67) Our profit targets will be 87.27 and 86.90 Resistance: 88.00 / 88.50 / 88.75 Support: 87.50 / 87.00 / 86.70 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
$BONK: Hold or Fall? Potential 3x from Here!Decided to bid this area one more time on BINANCE:BONKUSDT : The lows need to hold, or it’s an easy path down to 0.00002150 or lower. It needs to break the current swing highs to at least flip the downtrend. Just placing a bet here, expecting the following to happen. Will add significantly once the MSB occurs at the swing high. It’s a good level, and I still believe CRYPTOCAP:SOL holds above 170. Don’t think twice, it’s simple.
Long
by ZelfTrade
3
Mexican Peso Under Renewed PressureThe Mexican peso is once again under pressure against the U.S. dollar, approaching multi-year lows during certain moments of the day. This depreciation is driven by a confluence of internal and external factors, generating uncertainty in Mexican markets. The USD/MXN exchange rate has risen by 0.7%, reversing part of the initial optimism following the absence of executive orders on tariffs during Donald Trump’s first day of his new presidency. However, the subsequent mention of potential 25% tariffs on Canada and Mexico starting February 1 has added volatility to the market, putting further pressure on the peso. If implemented, this potential measure would significantly impact the Mexican economy, given its close trade relationship with the United States. The shadow of tariffs looms over the peso, generating risk aversion that weakens the currency. On the domestic front, recent economic data paints a challenging picture. Retail sales have declined by 0.1% month-over-month, marking two consecutive months of drops. Even more concerning is the 1.9% year-over-year decline in November 2024, the seventh consecutive month of contraction, exceeding market expectations of a 1.2% drop. This broad-based decline in domestic consumption, with sharp drops in key sectors such as supermarkets, department stores, healthcare products, and hardware, suggests the presence of structural issues affecting internal demand. While e-commerce and home goods show some increases, they fail to offset the weakness in other sectors. The persistent decline in retail sales reflects a underlying weakness in domestic consumption, raising questions about economic dynamism. Falling inflation opens the door for a possible rate cut by Banxico in its February meeting. This more accommodative monetary stance contrasts with expectations of a more restrictive monetary policy by the U.S. Federal Reserve, potentially narrowing the interest rate differential between the two economies and further pressuring the peso. This divergence in monetary policies adds an additional layer of uncertainty for the exchange rate. The Mexican economy's high dependence on trade and remittances from the U.S. makes it particularly vulnerable to external shocks. The imposition of new tariffs or stricter immigration policies could negatively impact public finances and further weaken domestic consumption. In this context, attention focuses on upcoming economic policy decisions in both Mexico and the United States, which will be crucial for the Mexican peso’s trajectory in the short and medium term. In the long run, the peso’s strength will largely depend on Mexico’s ability to navigate this period of uncertainty in its trade relations.
by Pepperstone
Alikze »» AI| Bullish Scenario - 1H🔍 Technical analysis: Bullish Scenario - 1H 📣 BINANCE:AIUSDT 🟢 If this price reversal meets support and reversal to the green box area and the Invalidation LVL bar is not touched. The currency correction is complete. 🟢 In the medium term, it will be ready to continue the upward rally. 🟢 If the area is touched. The correction will continue, which in the higher time frame can continue to the bottom of the ascending channel and the blue bar of the 0.39 range and be ready to continue the upward trend by forming a reversal pattern. 💎 The second scenario, if the Entry Area area is touched, it can have an upward trend in the short term by creating demand. 💎 In addition, if the Entry Area is broken, there is a possibility of further correction. »»»«««»»»«««»»»««« Please support this idea 💡 with a LIKE 👍 and COMMENT 💬 if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email 📧 in the future. Thanks for your continued support.🙏 Best Regards,❤️ Alikze. »»»«««»»»«««»»»«««
Long
by alikze