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Supportandresistancezones

What Are Support and Resistance Levels?Hello, Traders! 🌐 Have you ever wondered why prices tend to “bounce” off certain points on a chart? Check out the image above. Those two lines? They represent support and resistance levels—the invisible boundaries guiding price movements. Let’s break it down so you can use these levels to your advantage. Support Level: The Market’s Safety Net 🛡️ Take a look at the bottom line in the chart—this is the Support Level. It's like a safety net for the price, preventing it from falling any further. This happens because buyers see the price as a bargain and rush in, pushing it back up. Essentially, the demand outweighs the supply, creating a cushion that stops the price from dropping. When the price approaches this level, it’s a signal that buyers are likely to step in, and the price might rise again. Resistance Level: The Market’s Ceiling 🚫 Now, check out the top line—that’s your Resistance Level. It's like a ceiling that prices struggle to break through. Why? At this point, sellers become more active, believing the price is too high and that it’s time to cash in. The price “hits the ceiling”, supply outweighs demand, and traders take this as a signal to sell. Spotting these resistance points helps you decide when to lock in those profits. Your Guide 🎯 Now that you can visualize support and resistance levels, let’s talk strategy. These levels aren’t just interesting to look at—they’re powerful tools for deciding when to buy, sell, or hold an asset. By spotting where prices tend to reverse—you gain insight into where the market might head next. Draw horizontal lines like the ones in the chart to mark significant areas where prices repeatedly bounce off. For added reliability, try to identify at least three points. Your Trading Compass 🧭 Support and resistance levels, as shown in the chart, are more than just lines. They are essential tools for navigating market movements. Recognizing these levels can help you time your trades and predict price behavior more confidently as a day trader or a long-term investor. 🖊️
CRYPTO:BTCUSD
by WhiteBIT
Buy AUD/JPY BreakoutThe AUD/JPY pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours. Possible Long Trade: Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 101.15 Target Levels: 1st Resistance – 101.83 2nd Resistance – 102.30 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
6
Sell AUD/CAD @ Bearish FlagThe AUD/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Flag 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 0.9140, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 0.9093 2nd Support – 0.9058 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
12
Is Further Downward Movement Expected in EUR/USD?The EUR/USD pair has recently broken a significant uptrend line and fallen below a crucial horizontal support level on the daily chart. This initial downward movement was triggered by Donald Trump's victory in the US presidential election. His consistent emphasis on prioritising the local economy has led the market to anticipate protective policies aimed at reducing imports, thereby strengthening the Dollar against the Euro. From a technical perspective, current price action suggests increasing selling pressure, with the pair now approaching a critical support level at 1.0678. Below, we explore two potential scenarios for EUR/USD. Scenario 1: Retracement to the 1.0780 Region Followed by a Subsequent Decline Following the break of the uptrend line, the price may experience a pullback to retest the 1.0780 region, which is likely to act as resistance. This 1.0780 level coincides with a confluence zone formed by the prior trendline and the previously broken horizontal support level, making it a significant area of interest for sellers. Possible Sell Entry: If the price exhibits signs of rejection upon reaching 1.0780, this could present an attractive selling opportunity, with initial targets set at the 1.0678 support level and subsequently at the 1.0470 region, as indicated on the chart. Stop Loss : A protective stop loss could be placed slightly above 1.0830 to safeguard against a false breakout. Scenario 2: Break Below the 1.0678 Support Level The 1.0678 support level has been tested multiple times in recent sessions, rendering it a crucial point. A breach below this level would signify a potential continuation of the downward movement over the next few days. A daily close below 1.0678 could amplify the likelihood of a steeper decline, setting the stage for the next support level around 1.0470. Possible Short Entry: If the price breaks below 1.0678, a short entry could be initiated with initial targets at 1.0610, and a final target positioned at the strong support level of 1.0470, which has been significant since October 2023. Stop Loss : For this scenario, a stop loss could be positioned slightly above 1.0700 to avoid being affected by a false retest of the broken support. Donald Trump's victory has instigated a downward shift in the Euro's value against the Dollar, and this trend is likely to continue in the coming days. Given that EUR/USD is currently at a critical juncture, both outlined scenarios present viable trading opportunities, contingent upon price action in the forthcoming sessions. Careful monitoring of the 1.0678 and 1.0780 levels will be essential for determining the pair’s future direction and validating potential entry points. Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK.
Short
by Marketscom
BTC is heading forward to unbelievable high records Hello traders and good morning, As I said before, if you were following my analysis about the BTC and crypto in general, I have given an analysis about the.Bullish strong bullish momentum and said that price is going to reach the $100K very soon if the market of the Bitcoin keeps this strong bullish momentum.The the price ended in a high volatility.And reached an all time high. What we'll see in this month, which is the month before the last month of the year.If that bullish strong bullish momentum is kept well, the price will hit.And the nine $90,000 level and then in the last month, which is December.We will have a historical high level of Bitcoin if the buyers are still keeping that strong bullish momentum and eventually the price will hit.The $100K.Level, which will bea historical.All time high record, so please keep watching the market and.Make sure to.Get benefit of this bullish move and good luck everyone. Well, talk to you later and good luck.
Long
by YMtradingsystem
$CLSK Potential Movement (11/11/24)The gift that keeps on giving: $CLSK! Unfortunately, it was closed for trading today, but we’ll see what unfolds when the market reopens on Monday. Key support levels to watch are the previous higher high and break of structure at $13.27 and again at $13. These are solid points for when we kick off trading on the 11th. For resistance, we’re moving to the daily chart, with our next level all the way up at $14.92! As always, trade with discipline and lock in those profits! David Diz-Plin Trading
NASDAQ:CLSK
by DizPlin
$PLTR Potential Movement (11/11/24)What a week for $PLTR! There’s a new heavyweight in the game, and they’re here to stay. With no clear resistance in sight, let’s turn our focus to the key support zones: We’ve got a higher high and break of structure at $58.28, the closest to the current price, followed by another at $56.24, and a higher low at $53.91. Keep these levels on your radar—any bounce here could fuel another strong run! As always, stay disciplined and lock in those profits! David Diz-Plin Trading
P
by DizPlin
1
$AVXL Potential Movement (11/11/24)Hey Traders, NASDAQ:AVXL is riding the market momentum hard this month! We’ve got a key support level at $8.10, marked by the previous higher high and break of structure—watch for a possible test here before the next leg up! On the resistance side, it’s looking so strong we’re jumping to the 1-week chart, with the previous high all the way up at $10.20. This one’s definitely one to watch as we head into Monday! As always, trade with discipline and lock in those profits! David Diz-Plin Trading
NASDAQ:AVXL
by DizPlin
GOLD MCX - 1D TIMEFRAME - ANALYSIS Pure Price Action-Based Trading Plan Buy Position: Enter a buy position if the price breaks and closes above ₹78,700. Targets: Target 1: ₹79,500 Target 2: ₹80,500 Target 3: ₹82,000 Stop Loss: Place the stop loss just below ₹77,000 to limit downside risk. Sell Position: Enter a sell position if the price breaks and closes below ₹76,300. Targets: Target 1: ₹75,500 Target 2: ₹74,500 Target 3: ₹73,000 Stop Loss: Set the stop loss above ₹77,000 for this trade. Given the overall bullish trend, it would be safer to lean towards a buy on breakouts rather than anticipating a reversal. However, a break below support could open the door for short-term selling opportunities. This approach relies purely on observing price behavior at key levels rather than indicator-based signals.
MCX:GOLD1!
by rddtqpek
1
AUD/CAD Sell Strategy: Testing Resistance with Downside Targe Trade Setup: AUD/CAD is currently selling at 0.9266, targeting 0.8939. Key Resistance Level: The 0.9270 level acts as resistance, aligning with a significant Fibonacci retracement. Recent High & Low: High: Recent high around 0.9380. Low: Current low near 0.9102. Technical Signals: Resistance at 0.9270 marks a potential reversal zone, reflecting selling pressure. Bearish momentum is expected toward 0.8939, which is contingent on sustained downward movement. Market Context: Recent highs and lows frame a broad trading range, with Fibonacci levels adding technical validity to sell-side positions near resistance​
Short
by MahabubAabir
RDNT/USDT Trading ScenarioAs a result of the cyberattack on Radiant Capital's protocol in October, their token RDNT lost value significantly, hitting an all-time low of $0.0375. According to the volume profile, many participants are actively accumulating the token at discounted prices, and the current decline is not deterring buyers. The protocol developers are also working on eliminating the consequences of the attack and strengthening security. In the long term, the price is expected to recover and RDNT is to continue to grow during the altcoin season. Such situations with fundamental protocols often provide an opportunity for high returns over the medium to long term.
by Rick_SimpleSwap
Buy GBP/JPY Triangle BreakoutThe GBP/JPY pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours. Possible Long Trade: Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 197.44 Target Levels: 1st Resistance – 199.20 2nd Resistance – 200.20 Stop-Loss: To manage risk, place a stop-loss order below Support Zone. This helps limit potential losses if the price falls back unexpectedly. 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
11
SLB 5M Daytrade Long Aggressive CounterTrend tradeAggressive CounterTrend trade - short impulse + support level - unvolumed T1 level + volumed 2Sp- - weak test closed below T1 + first bullish bar closed entry - target beyond 5M / 1H range Calculated affordable stop limit 1 to 2 R/R take profit expandable to swing / investment trade 1 Hour CounterTrend "- short balance + expanding ICE + support level + biggest volume manipulation" 1 Day Trend "+ long impulse + SOS test level + support level + 1/2 correction" 1 Month Trend "+ long balance + expanding ICE level + support level + 1/2 correction + volumed manipulation" Sell SLB Limit 44.54, GTC Sell SLB Stop 42.29 LMT 43.06, GTC
NYSE:SLBLong
by MishaSuvorov
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
3