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Support and Resistance

TSLA: Insanely Bullish! What to Expect Next? | D & W charts.In our previous analysis, we identified that TSLA was looking for its 21-week EMA, a classic region of support, where a very good reversal signal materialized. Now, the price has resumed its previous uptrend, and we see it breaking through the most crucial resistance point at $265, which we also warned about in our last public study, the link to which is below this post. Now, let's update you on the key points to keep an eye on. Daily Chart (Left) Gap Closure: Tesla has closed a significant gap from July 2023 at $289.52, which could act as a resistance level. Remember that gaps work as magnets when tthe price reverses. This gap closure often signifies an area where the stock might face selling pressure as previous buyers look to exit. Support at $265.13: Previously a resistance level, this $265.13 area now serves as a future support based on the principle of polarity. Holding above this level would be a bullish signal, while a drop below might suggest weakness. EMA Support: The stock is trading above its 21-day EMA, suggesting ongoing bullish momentum in the near term. Weekly Chart (Right) Approaching Next Resistance at $299.29: The weekly chart shows the next significant resistance level at $299.29. A break and hold above this level could open up more upside, potentially attracting more bullish interest. EMA Support on Weekly: Similar to the daily, the 21-week EMA is supporting Tesla’s price, adding confidence for bullish traders. Conclusion: Tesla's chart shows bullish momentum with recent gap closure near $289.52 and support from the $265.13 level. Even if we see a top signal, the $265 area is supposed to be our next technical support level, and a pullback wouldn't ruin the bullish thesis to the $300 area - in fact, it would probably just be another buying opportunity, near a support level, when the R/R ratio is optimised. There is no technical evidence suggesting that it could correct for now, but we need to watch the price action very closely, as TSLA's price has just closed an important gap. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
1
DOGE Swing Trade Opportunity after Trump and Elon Musk's VictoryWith the recent victory of Donald Trump in the 2024 U.S. presidential election, the crypto market has responded with a wave of optimism, particularly with Bitcoin (BTC) reaching new all-time highs. This bullish sentiment has trickled down to Dogecoin, which saw a significant price surge of approximately 15%. Now, with Musk’s push for the D.O.G.E. initiative—aiming to streamline government and reduce spending by trillions—the market is seeing a potential for CRYPTOCAP:DOGE to become more than just a meme coin; it could emerge as a symbol for Musk’s broader political and financial influence. This, more than any short-term rate decision from the Fed, could be the real driving force for Dogecoin in the coming months. FOMC & Market Pullback The Federal Reserve's interest rate decision scheduled for tomorrow could bring volatility to the crypto market. A rate hike could trigger a temporary pullback across major assets, including DOGE. However, these pullbacks may present ideal entry points for traders looking to capitalize on the overall bullish sentiment fueled by a pro-crypto administration. Key Levels to Watch for DOGE Primary Entry Level – 0.618 Fibonacci Retracement A significant level to watch for DOGE’s pullback is the 0.618 Fibonacci retracement level, which aligns closely with a 1-day Fair Value Gap (FVG) and the Point of Control (POC) from the volume profile. This confluence makes it a high-probability entry level where DOGE is likely to find support. This zone, marked around the $0.16 - $0.17 range, is ideal for both leverage and spot traders looking to go long. 1-Week Order Block Target Zone For swing traders, the upper target range sits within a 1-week order block between $0.27 - $0.28. This level represents a strong resistance area and an ideal zone to take profits gradually. Given the bullish sentiment in the broader market, reaching this zone could result from continued positive momentum, especially if Trump's administration continues to promote a crypto-friendly stance. Trade Setup Summary Entry Zone: $0.16 - $0.17 (0.618 Fib + 1D FVG + POC) TP Levels: TP1: $0.21 TP2: $0.24 TP3: $0.27 - $0.28 (1W OB) Stop Loss: Below $0.15, to protect against deeper pullbacks if the market turns bearish. Caution As the FOMC decision approaches, expect potential price fluctuations. Monitor the market closely, as rate hikes could impact liquidity and create short-term volatility. Being cautious with leverage and adjusting positions based on market conditions is essential. Have a safe and victorious trade everyone, Cheers!
Long
by MadeByAK
2
My thoughts, target and trailing method on the gold tradeHello, I have been a gold bull for a while and 6 months ago I posted a long idea. Last week the price has gone way past my target so I think it might be a good idea to post an update. I am going to divide this in 3 parts: - First taking a look back at this trade and the decisions I made - Second I'm going to check what analysts are saying and upwards versus downward potential - And last, based on the previous two points and TA I'll conclude with a trailing methodology 1- If you were able to get in this was a pretty good trade, easy to hold, but I found it really hard to add to it. In the 2300-2400 area I tried buying the pullback but it was too choppy and random for me, which does not happen that often, usual it's more clean. So in the end of all my winners this year this was the worst one, while the Yen was the best one. If you look at the trends it makes sense, the Yen was a "creeper trend" slow and steady with opportunities to add and on top of that it skyrocketed at the end of that trend, while gold was this skyrocket with a crazy correction that went in all directions. Slow and steady always wins in my opinion. The important thing to remember I think here is to not insist, if the market does not want to offer an opportunity, no point insisting and losing 10 times in a row. Fortunately I did not get chopped out. Opposed to that is the following examples on the Yen, it is choppy, but in a good way, there actually are bottoms, and higher lows, it is pretty clean actually when you look carefully. When the market offers gifts, keep pressing your advantage. That simple. 2- So what are the analysts saying and how far could it go? Permabear (and bull on gold) Peter Schiff is calling 10k, but I think we can dismiss this - not saying it won't happen. Analysts are claiming that the commodity to S&P ratio is quite low and we can prepare for a supercycle. The situation is the same that it was a year ago, only it got even better, countries are continuing to move further away from the USD and are looking to buy gold, stock markets just like currencies are still not very reassuring. Rates had increased but they seem to be going back down after all. I see plenty of reasons for the demand to be high, and little reasons for the price shooting down. It does not appear we are in the euphoria stage, or even close, so gold might still be underpriced and there could be a lot of upside left. The price being at all time high, there are no usual resistances, no bagholders that waited 10 years to breakeven, so logically the only wall I can think of is $3000. No reason for a major pullback till then, which does not mean it won't pullback before 3k as I have no crystal ball. All I know is I have thousands of hours of backtesting, experience, and my analysis. 3- From my knowledge this was a trade with a great risk reward and good likelihood of winning, was aiming for 2500 and since we went well past that price without a major pullback - we had minor ones and a moderate one in the 2300-2400 area - my rules say I must consider holding till the next target, which is 3000. A minor to moderate pullback would be 100ish of less, according to the chart below. Trailing my stop with hops of 100 will still give decent risk to reward (at 2700 I'll be risking 100ish to make 300 or better), and at 3000 a stop of 100-200 is worth it as it could go parabolic and I wouldn't be giving much back. But I have no reason to increase my stop size at 3k, the price might drop by a 3rd (1k in this case) like it did the first time it got to $1000, or by nearly 50% like it did the first time it reached $1900. If there is a major pullback I might as well exit and look for an opportunity to take a new trade. It is unlikely I just keep getting "poop patterns" like I have shown in figure 1 up there, and if we do get these choppy random looking patterns that is too bad, knowing when to sit on the sidelines is the name of the game.
TVC:GOLDLong
by MrRenev
Incoming 60% correction for ASML HoldingOn the above weekly chart price action has seen a strong 200% upward move since 2022. No doubt a move in part caused by the AI mania. Is now a good time to buy? Seeking alpha says “Buy the dip” “ASML has returned to growth after revenue declines, with flat revenue expected for 2024 and growth anticipated in 2025, driven by new EUV tools.” “Despite a 53% QoQ drop in net bookings, ASML's backlog remains strong at €36B, supporting a revised 2025 revenue outlook of €30-35B.” A quick Google leads to no shortage of “buy the dip” articles. But then again, Google is not what it once was, with many paid for bias articles are evident. The best News and outlook will always be the chart. On the above weekly chart: 1) Price action and RSI support failures. 2) Broken market structure. 3) Look left, support and resistance, red arrows. The 2021 market top confirms resistance in October 2024. This is a significant warning. 4) The bear flag. It is has not yet confirmed, but a breakout is evident. A back test would be ideal, towards $800 area. The flag forecasts a 60% correction to support. Is it possible price action continues to rise? Sure. Is it probable? No. Ww Type: trade, short from $800
NASDAQ:ASMLShort
by without_worries
9
AR Long Spot Trade (Support Zone) Market Context: AR has moved into a key support zone, presenting an opportunity to ladder into a long spot position. This range provides a favorable risk-to-reward ratio if support holds and the price reverses upwards. Trade Setup: Entry: Ladder in between $11.00 - $12.75 Take Profit: First target: $17.50 - $20.00 Second target: $24.00 - $26.50 Stop Loss: Just below $10.00 (daily close) This setup seeks to capitalize on the support zone for a potential reversal. #AR
Long
by Richtv_official
1
Gold is in the Bearish Direction after Formation ManipulationHello Traders In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET today Gold analysis 👆 🟢This Chart includes_ (GOLD market update) 🟢What is The Next Opportunity on GOLD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
OANDA:XAUUSDLong
by ForexMasters2000
THETA Long Spot Trade (Support Pullback) Market Context: Following a sharp two-day reversal, THETA appears poised for a potential continuation if it holds the next support level. A slight pullback to around $1.10 may present a solid entry for a long position. Trade Setup: Entry: Around $1.10 Take Profit: First target: $1.22 Second target: $1.35 - $1.45 Third target: $1.55 - $1.70 Stop Loss: Just below $1.00 (daily close) This setup aims to capture upside momentum while mitigating downside risk. #THETA #Crypto #Support
Long
by Richtv_official
BTC bullish breakout sets the stageThe past month I recently decided to move all of my chart analysis posts from X over to TradingView, so I'm going to be picking up here where I left off over there. The last time I posted about COINBASE:BTCUSD I was watching the long term cup and handle pattern and how price was reacting to the upper resistance area of the handle. For the most part, price had been holding steady just below resistance ( FWB:67K ) then we got the breakout 2 week ago. At that point we have a confirmed breakout of the pattern. Price did pull back quickly but continued to hold above the breakout level which was a positive since, where it's been holding steady until yesterday... The past day Yesterday's election gave the catalyst to push BTC back up and to new all time highs. That essentially gives us a breakout, pullback and successful backtest of support which further solidifies this large cup and handle pattern. With all of that said we still use proper risk management as traders. Looking ahead As for the bigger picture, I think this sets up BTC for potentially a very large run. Using log targets off the 2021-2024 cup and handle, that gives a price target of just over $300,000. Whether the market will actually reach this target sooner rather than later remains to be seen, but we now have clear parameters to manage our position around. As for invalidation levels, the setup would become at risk if price reversed back below the breakout level in the near term or if price broke below the low of the handle in the long term. To keep the wind under the bulls sails we really want to see price holding above the top of the cup. Fundamentals I typically don't focus on fundamentals since I'm mainly a price action trader, but I think the impact of yesterday's elections can't be ignored. Yesterday's elections were one of the most significant fundamental shifts to the crypto space in years, as we saw a huge number of pro-crypto candidates win their seats (2:1 margin over the anti-crypto candidates). In addition to that we saw the most pro-crypto presidential candidate of our lifetime win the presidency. This will likely mark a new era of pro-crypto policy and the removal of some very powerful anti-crypto people, like Gary Gensler. This overwhelming victory for crypto lines up well with the bullish long term price action we've been seeing forming in BTC over the past year.
COINBASE:BTCUSDLong
by krugman87
Can Anything Stop Corning?Fiber-optic stock Corning has accelerated since the spring thanks to AI demand. Some trend followers may see an opportunity in its latest pullback. The first pattern on today’s chart is the series of higher lows since August. The 8-day exponential moving average (EMA) has remained above the 21-day EMA for most of that time, which may confirm its uptrend. Second is the bullish price gap on October 29 after results beat estimates. That pushed GLW to its highest level since the dotcom bubble. Third, the stock has pulled back to test its previous close. It’s also near the $46.50 price zone where GLW consolidated last month. Has old resistance become new support? TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NYSE:GLW
by TradeStation
USD/JPY: Bullish Outlook with Key Support at 151.79USDJPY Analyze The overall trend remains Bullish as long as the price stays above 151.790, with bullish targets at 154.260 and potentially 156.58. A corrective move toward the pivot line at 151.79 is possible before the bullish trend resumes. However, if the price stabilizes above 151.790 with a daily candle close, a bullish move of 151.790 extend toward 154.26. otherwise, the closing daily candle below 151.780 will drop to 149.82 Key Levels: Pivot Line: 151.790 Resistance Levels: 153.60, 154.26, 156.58 Support Levels: 149.82, 147.82, 146.4 Expected Range: 151.78 - 154.26 Trend: Bullish while above 151.79
Long
by SroshMayi
XAUUSD is making waves!Calling All Pro Traders! This is the action you’ve been waiting for as it dances around critical levels! XAUUSD Outlook:Currently in a tight range between 2720 and 2729 – a major battle unfolding here! Will it break out soon? Keep those eyes peeled! Downside Alert:If XAUUSD slips below this key range, it could trigger a swift move lower!Targets on the radar: 2712 and 2704 Be ready to act! Upside Potential:On the flip side, if we see a breakout above this zone, it could set the stage for an explosive rally! Next targets in sight: 2734 and 2738. Is the bulls' momentum building? Let’s Chat!What’s your take? Will we see a breakout or a reversal? Drop your thoughts below! Together, we’re navigating one of the most exciting moments in the market! Stay sharp, stay strategic – let’s go for the win!
OANDA:XAUUSD
by luxgoldtrader
EUR/USD Outlook: Key Levels and Potential Bearish ContinuationThe EUR/USD chart indicates a bearish outlook, with price currently trading below the pivot line at 1.07719. Bearish Scenario: If the price remains below 1.07719, further declines are likely toward the support levels at 1.06164 and potentially down to 1.05444. A break below 1.05444 could see the price reaching the next support level at 1.03906. Bullish Scenario: If the price manages to rise above the pivot line at 1.07719, it may aim for the resistance at 1.09156. A close above this level would suggest a shift toward bullish momentum, with the next target at 1.10050. Key Levels: Pivot Point: 1.07719 Resistance Levels: 1.09156, 1.10050 Support Levels: 1.06164, 1.05444, 1.03906 previous idea:
Short
by SroshMayi