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Supportandresistancezones

GOLD ( UNDER BULLISH PRESSURE ) (1H)XAUUSD HELLO TRADERS Tendency , the price is under bullish pressure , until trading above 2,386$ . TURNING LEVEL (1) : the price of this level at 2,407$, so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : the price of this level at 2,386$, so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 2,430$ , for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 2,452$ , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) SUPPORT LEVEL (1) : this level around 2,370$, for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 2,355$ , for reach this level will be breaking by open 4h candle below support level (1) , . PRICE MOVEMENT : currently price 2,394$ , have two scenario , first scenario corrective turning level (2), before rising to touch a turning level (1) , then breaking this level reach a resistance level (1), second scenario corrective turning level (1) , to reach a turning level (2) , then breaking this level reach a support level (1). MY GOAL : resistance level (1) at 2,430$ . TARGET LEVEL : RESISTANCE LEVEL : 2,430$ , 2,452$ . SUPPORT LEVEL : 2,370$ , 2,355$ .
OANDA:XAUUSDLong
by ArinaKarayi
Sell USD/CAD Channel BreakoutThe USD/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.3813, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.3775 2nd Support – 1.3748 Stop-Loss: To manage risk, place a stop-loss order above 1.3855. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_TA_TRADING
17
XRPPUSDT ( INSIDE SUPPLY ZONE ) ( 1D )XRPUSDT HELLO TRADERS Tendency , the price inside two turning level around 199.493 & 197.879 , inside a supply zone TURNING LEVEL (1) : the price of this level at 0.61 , so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : the price of this level at 0.57 , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 0.67 , for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 0.72 , for reach this level it will be breaking by open 1d or 4h or 1h candle above resistance level (1) . SUPPORT LEVEL (1) : this level around 0.50 , for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 0.32, for reach this level will be breaking by open 1d candle below support level (1) . PRICE MOVEMENT :currently price around 0.60 , the price inside supply zone , in my suggest the price may be corrective 0.61 before dropping . TARGET LEVEL : RESISTANCE LEVEL : 0.67 , 0.72 . SUPPORT LEVEL : 0.50 , 0.32 .
Short
by ArinaKarayi
What is Support and Resistance in Trading. Key Levels Basics In the today's article, we will discuss the absolute basics of technical analysis: support and resistance levels. I will explain to you why support and resistance are important , how to identify them properly, and we will discuss what is the difference between support and resistance level and support or resistance zone. Let's start with a definition of a support . A support is a historically significant price level that lies below the current prices of an asset. While a resistance is a historically significant price level that is above the current prices. From a key resistance, a bearish movement will be anticipated in futures, while from a key support, a bullish reaction will be expected. Take a look at EURAUD pair, we can see a perfect example of a key resistance level. 2 times in a row, the market dropped from that in the past, confirming its significance. By a historical significance , I mean that the price reacted strongly to such price level in the past and a strong bullish, bearish movement initiated from that. Above is the example of a key horizontal support on EURCHF. The underlined key level was respected by the market multiple times in the past. From time to time, the market breaks key levels. After a breakout , a support turns into resistance and a resistance turns into support. Above is the example of a breakout of a key support on GBPNZD, after its violation it turned into resistance from where a bearish movement followed. Always remember, that in order to confirm a breakout of a key support, we strictly need a candle close below that. By the way, the structure here is also the zone, but we will discuss it later on. Above is the example of a breakout of a key resistance, that turned into support after a violation. Very often, newbie traders ask me, how many times the price should react to a key level to make it valid. I do believe that 1 time is more than enough, however, make sure that the reaction to that is strong . Above are key support and resistance on GBPCAD. Even though both structures were respected just one time in the past, the reaction to them was strong enough to confirm that the underlined levels are the key levels. However, historical significance of a key support or resistance is not enough to make it valid. What matters is the most recent reaction of the price to that. Key supports and resistance lose their significance with time, and your job as a technical analyst, is to stay flexible and adapt to changing market conditions, regularly updating your analysis. Above is a key resistance level on AUDJPY from where the market dropped heavily 2 times in a row. However, with time, the underlined resistance lost its significance. Such a structure is not a key level anymore. Remember a simple rule: if a key structure is not respected by the sellers, and by the buyers after its breakout. Or vice versa: if a key structure is not respected by the buyers, and then by the sellers after its breakout. Such a structure is not a key level , and you should not rely on that in the future. In our example, the resistance was broken - it was neglected by the sellers. After the breakout, it should have turned into support, but the buyers also neglected that and the structure lost its strength. Now, a couple of words about time frames, you can identify key support and resistances on any time frame, but the rule is that higher is the time frame, more significant are the supports and resistances there. In my analysis, I primarily rely on support and resistance on a daily time frame. Always remember that the financial markets are not perfect and the prices will quite rarely respect the exact support or resistance levels. Quite often, the markets may fluctuate around key levels so it is highly recommendable to rely not on single key levels but on zones. I recommend taking into consideration not only the exact level from where a strong reaction followed, but also a candle close level of such a candle. The support zone above is based on a wick and a candle close of a candle. Also, quite often there will be the situations when multiple key levels will lie close to each other. In such a case, it is better to unite all this structures in one single zone. Above we see multiple key resistances. We will unite all these resistances into one single zone. The upper boundary of a resistance zone will be the highest wick and its lower boundary will be the highest candle close. Above we have 2 key supports lying close to each other. We will unite these supports into one single zone. The lower boundary of a support zone will be the lowest wick and the upper boundary will be the lowest candle close. Here is how a complete structure analysis should look. Following the rules that we discussed, you should identify at least 2 closest key resistances and 2 closest key supports. These structures will be applied as the entries for various trading strategies. ❤️Please, support my work with like, thank you!❤️
Education
by VasilyTrader
23
Micron Technology - Patience and price action!NASDAQ:MU is literally creating so clear and repetitive market structure, this is textbook. Bullish break and retest, cycle and correction. Micron Technology has been repeating this price action for over a decade and is about to enter another correction phase. If you don't want to trade this anticipated correction, you can instead wait for another retest of previous resistance, bullish confirmation and a rejection. Following the cycles, a bullish move there is quite likely. Levels to watch: $140, $95 Keep your long term vision, Philip - BasicTrading
NASDAQ:MUShort
by basictradingtv
11
VZ 5M Long Daytrade Aggressive Trend TradeAggressive Trend Trade - short impulse + volumed T1 level + support level + biggest volume weak attempt manipulation Calculated affordable stop limit 1 to 2 R/R take profit Hour Trend "+ open gap with retest + long impulse + SOS test level + 1/2 correction + support level + volume zone" Daily CounterTrend "- short impulse - biggest volume TE / T1" Monthly Trend "+ long balance + historical 1/2 correction with exhaustion volume in the end + initiative take over + ICE level + volumed? 2Sp + weak test" VZ @NYSE Sell Limit 40.22, GTC Sell Stop 39.89 LMT 40.01, GTC
NYSE:VZLong
by MishaSuvorov
GBPJPY ( BELOW FVG ) (4H)GBPJPY HELLO TRADERS Tendency , the price inside two turning level around 199.493 & 197.879 . TURNING LEVEL (1) : the price of this level at 199.493 , so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : the price of this level at 197.879 , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 201.419 , for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 203.814 , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) SUPPORT LEVEL (1) : this level around 195.223 , for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 191.917 , for reach this level will be breaking by open 4h candle below support level (1) . CORRECTIVE LEVEL : currently price 1.286 , have two scenario , first corrective turning level (1), before dropping to touch a turning level (2) , then breaking this level reach a support level (1), second corrective turning level (2) , to reach a turning level (1) , then breaking this level reach a resistance level (1). TARGET LEVEL : RESISTANCE LEVEL : 201.419 , 203.814 . SUPPORT LEVEL : 195.223, 191.917.
Short
by ArinaKarayi
BITCOIN ( TRADING INSIDE DESCENDING CHANNEL ) (4H)BINANCE:BTCUSDT.P HELLO TRADERS Tendency , the price inside two turning level at 65,475 & 63,714 . TURNING LEVEL (1) : the price of this level at 65,475 , so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : the price of this level at 63,714 , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 68,149 , for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 71,671 , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) . SUPPORT LEVEL (1) : this level around 60,758 , for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 56,890 , for reach this level will be breaking by open 4h candle below support level (1) . CORRECTIVE LEVEL : currently price 63,994 , have two scenario , first corrective 65,475 , before dropping to touch a 63,714 , then 60,758, second corrective 63,714 to reach a 65,475 , then breaking this level reach a resistance level (1). TARGET LEVEL : RESISTANCE LEVEL : 68,149, 71,671. SUPPORT LEVEL : 60,758 , 56,890 .
BITSTAMP:BTCUSD
by ArinaKarayi
NAS100USD ( INSIDE DEMAND ZONE ) (4H)NAS100USD HELLO TRADERS Tendency , the price inside demand zone it is a sensitive area between 19,116 & 18,776 . TURNING LEVEL (1) : the price of this level at 19,116 , so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : the price of this level at 18,776 , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 19,526, for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 20,112 , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) SUPPORT LEVEL (1) : this level around 18,236 , for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 17,811 , for reach this level will be breaking by open 4h candle below support level (1) . CORRECTIVE LEVEL : currently price 19,060 , have two scenario , first corrective turning level (1), before dropping to touch a turning level (2) , then breaking this level reach a support level (1), second corrective turning level (2) , to reach a turning level (1) , then breaking this level reach a resistance level (1). TARGET LEVEL : RESISTANCE LEVEL : 19,526 , 20,112 . SUPPORT LEVEL :18,236 , 17,811 .
OANDA:NAS100USD
by ArinaKarayi
ETC/USDT Trading ScenarioAfter reaching a local high of $39.65, the price of ETC sharply corrected to $18.15, a drop of over 50%. According to the volume profile, the price fell into a local accumulation zone near the Point of Control (POC), from which a reversal movement began. Additionally, there was a third touch of the descending support level. In the current price range, buying the asset is appealing both for adding to a long-term portfolio and for a speculative trade, with potential to close the position around the resistance level of $39.65.
by Rick_SimpleSwap
Buy EUR/JPY Head & Shoulder PatternThe EUR/JPY pair on the M30 timeframe presents a potential Buying opportunity due to formation Head & Shoulder pattern. This suggests a shift in momentum towards the Upside in the coming Hours. Key Points: Buy Entry: Consider entering a Long position around the current price of 167.12. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 169.38 2nd Support – 171.10 Stop-Loss: To manage risk, place a stop-loss order below 164.60. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Long
by KABHI_TA_TRADING
4
SLB 5M DayTrade Long Aggressive CounterTrend tradeAggressive CounterTrend trade - short impulse - unvolumed T1 level + volumed Sp? + support level + weak test + first bullish bar closed entry Calculated affordable stop limit 1 to 2 R/R take profit Hourly context "- short impulse + volumed T1 level + support level + 1/2 correction" Daily context "+ long impulse + above JOC SOS level? + support level + 1/2 correction" Monthly context "+ long balance + expanding ICE level + support level + 1/2 correction + volumed Sp" SLB @NYSE Sell Limit 48.70, GTC Sell Stop 47.68 LMT 48.03, GTC
NYSE:SLBLong
by MishaSuvorov
TSLA: Time to React? (D&H charts).As we warned in our last study, resistance at 265 was extremely dangerous, and prevented the uptrend from persisting. In addition, TSLA's price lost critical support levels, which reversed the trend in the short term, materializing the pullback on the daily chart that I mentioned in my last public study here on Tradingview, the link to which is below this post. Now, TSLA's price is trying to react around its support level near the open gap at 213.23. If TSLA fails to materialize a bullish reversal at this support area, we can expect more bearish continuation, and the next target would be 205.30. So the timing is critical, and it all depends on how TSLA closes this week. 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
Gold Just Left me behind... AGAIN! Here's How you can Avoid This1. Daily Trendline Description: The yellow trendline running across the chart represents the overall upward trend on the daily timeframe. It shows that despite the recent fluctuations, the long-term trend has been bullish. Significance: This trendline serves as a dynamic support level. Traders often look for price action around this trendline to gauge the strength of the ongoing trend. A break below this trendline could signal a potential reversal or a stronger bearish movement. 2. Ascending Channel Larger Ascending Channel: Description: This channel is characterized by two parallel lines (yellow) sloping upwards. The price has been moving within this channel for a considerable period. Significance: The upper boundary acts as resistance, while the lower boundary serves as support. The price breaking below the lower boundary can indicate the end of the bullish trend and the beginning of a bearish trend. Smaller Ascending Channel: Description: A smaller channel within the larger context, indicating a shorter-term upward movement. Significance: The break below this smaller channel, as shown on the chart, signifies a potential reversal or correction within the larger trend. 3. Support/Resistance Description: Horizontal lines marked as support and resistance represent key price levels where the price has historically faced buying or selling pressure. Significance: These levels are crucial for identifying potential entry and exit points. The support level acts as a floor where buying interest is strong enough to prevent the price from falling further. Conversely, the resistance level acts as a ceiling where selling interest prevents the price from rising further. 4. Higher High (HH) and Lower High (LH) HH (Higher High): Description: A peak higher than the previous peak, indicating the continuation of an uptrend. Significance: The formation of a higher high typically signals bullish momentum. However, in this case, the subsequent failure to maintain this level and the formation of a lower high (LH) suggests weakening bullish strength. LH (Lower High): Description: A peak lower than the previous peak, indicating potential trend reversal. Significance: The lower high after a higher high is a bearish signal, suggesting that buyers are losing control and sellers are gaining strength. 5. 15M/5M Bear Flag Entry Description: A bear flag pattern on the 15-minute and 5-minute timeframes is highlighted. This pattern consists of a sharp decline followed by a short consolidation in the form of an upward-sloping channel (flag). Significance: The bear flag is a continuation pattern, indicating that after a brief consolidation, the price is likely to continue its downward movement. The breakout from this flag pattern provides a potential entry point for short positions. 6. Target Profit Levels (TP 1 and Daily LQZ/TP 2) TP 1 (2,347.560): Description: The first target profit level is set at 2,347.560. Significance: This level is likely determined based on historical support levels or a measured move from the recent price action. Traders might look to take partial profits or exit their positions at this level. Daily LQZ/TP 2 (2,265.195): Description: The second target profit level is set at 2,265.195, which aligns with the daily liquidity zone. Significance: This is a more ambitious target, potentially indicating a stronger bearish move. The liquidity zone suggests an area with significant trading volume, which could act as a magnet for the price. Conclusion The chart presents a comprehensive analysis of the XAUUSD (Gold Spot) with multiple technical indicators suggesting a potential bearish outlook. The breakdown from the ascending channels, the formation of a lower high, and the bear flag pattern all point towards a continuation of the downward trend. The identified support and resistance levels, along with the target profit zones, provide clear benchmarks for managing trades.
OANDA:XAUUSDShort
by Adlercon333
Missed the XAUUSD Move? Here’s What You Overlooked!1. Daily Trendline Description: The yellow trendline running across the chart represents the overall upward trend on the daily timeframe. It shows that despite the recent fluctuations, the long-term trend has been bullish. Significance: This trendline serves as a dynamic support level. Traders often look for price action around this trendline to gauge the strength of the ongoing trend. A break below this trendline could signal a potential reversal or a stronger bearish movement. 2. Ascending Channel Larger Ascending Channel: Description: This channel is characterized by two parallel lines (yellow) sloping upwards. The price has been moving within this channel for a considerable period. Significance: The upper boundary acts as resistance, while the lower boundary serves as support. The price breaking below the lower boundary can indicate the end of the bullish trend and the beginning of a bearish trend. Smaller Ascending Channel: Description: A smaller channel within the larger context, indicating a shorter-term upward movement. Significance: The break below this smaller channel, as shown on the chart, signifies a potential reversal or correction within the larger trend. 3. Support/Resistance Description: Horizontal lines marked as support and resistance represent key price levels where the price has historically faced buying or selling pressure. Significance: These levels are crucial for identifying potential entry and exit points. The support level acts as a floor where buying interest is strong enough to prevent the price from falling further. Conversely, the resistance level acts as a ceiling where selling interest prevents the price from rising further. 4. Higher High (HH) and Lower High (LH) HH (Higher High): Description: A peak higher than the previous peak, indicating the continuation of an uptrend. Significance: The formation of a higher high typically signals bullish momentum. However, in this case, the subsequent failure to maintain this level and the formation of a lower high (LH) suggests weakening bullish strength. LH (Lower High): Description: A peak lower than the previous peak, indicating potential trend reversal. Significance: The lower high after a higher high is a bearish signal, suggesting that buyers are losing control and sellers are gaining strength. 5. 15M/5M Bear Flag Entry Description: A bear flag pattern on the 15-minute and 5-minute timeframes is highlighted. This pattern consists of a sharp decline followed by a short consolidation in the form of an upward-sloping channel (flag). Significance: The bear flag is a continuation pattern, indicating that after a brief consolidation, the price is likely to continue its downward movement. The breakout from this flag pattern provides a potential entry point for short positions. 6. Target Profit Levels (TP 1 and Daily LQZ/TP 2) TP 1 (2,347.560): Description: The first target profit level is set at 2,347.560. Significance: This level is likely determined based on historical support levels or a measured move from the recent price action. Traders might look to take partial profits or exit their positions at this level. Daily LQZ/TP 2 (2,265.195): Description: The second target profit level is set at 2,265.195, which aligns with the daily liquidity zone. Significance: This is a more ambitious target, potentially indicating a stronger bearish move. The liquidity zone suggests an area with significant trading volume, which could act as a magnet for the price. Conclusion The chart presents a comprehensive analysis of the XAUUSD (Gold Spot) with multiple technical indicators suggesting a potential bearish outlook. The breakdown from the ascending channels, the formation of a lower high, and the bear flag pattern all point towards a continuation of the downward trend. The identified support and resistance levels, along with the target profit zones, provide clear benchmarks for managing trades.
OANDA:XAUUSD
by Adlercon333