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Supportandresitance

NZDUSD ready to go up after failing to make new lows?NZD/USD has experienced a decline of 5.12% since 27 September, establishing a bearish trend line on the 4-hour chart. However, on 10 October, the pair began to break out of this bearish trend line, signalling a potential pause in the prevailing bearish momentum. On 15 October, NZD/USD retraced, forming a double bottom pattern on the 4-hour chart. Notably, the price was unable to breach the previous support level of 0.6050, suggesting stabilisation in the market. The Relative Strength Index (RSI) indicated a value of 21.06 on 24 September. By 15 October, the RSI had risen to 34.10, demonstrating higher lows in the RSI while the price made lower lows — a condition that characterises classical bullish divergence. CPI Data and Its Impact From a macroeconomic perspective, the release of the Consumer Price Index (CPI) data came in lower than expected (0.6% actual versus 0.7% forecast), which tends to be negative for the NZD and that is what caused the downward movement on October 15th. However, since the price failed to break below the previous low, this shows that the selling force is currently showing signs of exhaustion. Key Elements to Consider: 1. Significant downward movement since 27 September, resulting in a depreciation of over 5% in NZD/USD. 2. RSI reading below 30 on 10 October, suggesting exhaustion of the selling momentum. 3. Breakout from the downtrend line on the 4-hour chart. 4. Formation of a double bottom pattern on the 4-hour chart. 5. Classical bullish divergence is observed on the 4-hour chart. Potential for Ascendancy Given the above elements, if NZD/USD manages to surpass the 0.6090 level, it is likely that the currency pair will ascend towards the 0.6160 region within the coming days, where it may face temporary resistance. A Bullish Turn on the Horizon? In conclusion, while recent indicators and patterns suggest a potential bullish reversal for NZD/USD, traders should remain cautious of external factors that may influence market dynamics. As always, close monitoring of price action and macroeconomic developments will be key in navigating this trading opportunity. 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.
Long
by Marketscom
1
The GOLD bears are stuckThese circles (on the chart) show where bears are stuck. Such levels have a great inductive element to them. And how they're crossed, whether they hang around for a while or rebounce quickly, gives a good indication of what the market price will do next. Moreover, according to publicly data, the average retail positions level is approximately $2,580. In other words, the market appears to be trending upwards, with average bulls positions already in the positive field
FOREXCOM:XAUUSDLong
by ClashChartsTeam
Indecision Reigns: BTC Testing Crucial Resistance ZoneThe recent price action of COINBASE:BTCUSD shows a clear battle between buyers and sellers near a critical resistance level around 66,000. The price has struggled to break above this level, leading to a period of consolidation. However, the price has stayed within a tight range, reflecting indecision in the market. Although there has been some selling pressure, buyers have been able to hold the price above key levels, indicating that bullish sentiment is still present. The recent candle patterns provide insight into this indecision. We’ve seen a mix of candles with longer wicks, indicating attempts by both buyers and sellers to take control, but neither side has dominated. This type of back-and-forth movement often signals that the market is waiting for a stronger catalyst. Some candles show clear rejection from higher prices, suggesting that the 66,000 resistance level is being heavily defended by sellers. On the other hand, the recent green candles with stronger closes near their highs indicate that buyers are slowly gaining strength. COINBASE:BTCUSD next move will likely depend on whether it can break above the 66,000 resistance or lose momentum and fall back to support levels around 62,000 short term, or 58,000 for medium term. A strong bullish candle breaking above resistance could signal a rally toward 70,000, while a failure to break through may lead to further consolidation or a potential pullback.
COINBASE:BTCUSDLong
by David_874
CGPower : Strong Bullish Momentum: Key Support & Resistance Zone NSE:CGPOWER in Strong Bullish Momentum: Key Support & Resistance Zones NSE:CGPOWER continues to demonstrate solid upward momentum across multiple timeframes, with positive trends seen on the daily, weekly, and even shorter 75-minute charts. Here's an advanced look at key levels and insights: Key Indicators to Watch: Weekly 50 EMA: ₹605 – A strong long-term support level. The price remains well above this, indicating a sustained bullish trend. Daily 50 EMA: ₹736 – Medium-term support. A key level to watch for any pullbacks or corrections. Weekly 10 EMA: ₹745 – Immediate weekly support, offering a clear level for trend continuation. Daily 10 EMA: ₹792 – The near-term support on the daily chart; holding this level is crucial for continued upward momentum. 75-min Chart: 50 EMA: ₹786 – This EMA offers intraday support, crucial for short-term traders. 21 EMA: ₹816 – Further intraday support, maintaining strength at this level keeps the bullish sentiment intact. 10 EMA: ₹840 – Immediate short-term support in intraday action. Key Resistance Levels: 52-Week High : ₹874.70 – A breakout above this significant level could lead to a fresh rally with further upside potential. ₹846 – Short-term resistance that aligns with 75-min 10 EMA, a key test for continued bullish momentum. ₹875-₹900 – If the stock breaks its 52-week high, we may see this range as the next target zone. Support Levels to Watch: ₹756 – Short-term support level; a strong dip-buying opportunity if prices pull back to this region. ₹786 – A key support level on the 75-minute 50 EMA; holding this strengthens the upward move. ₹816 – The 75-minute 21 EMA provides a solid intraday support level. ₹846 – A critical near-term support zone that should hold for the continuation of bullish movement. Outlook: NSE:CGPOWER is showing a healthy bullish momentum, with consistent support levels across the daily and weekly charts. Holding above ₹756 and breaking past ₹874.70 could fuel further bullish activity. Watch for pullbacks near support levels for potential buying opportunities. As long as the price holds above its key EMAs, especially the daily and 75-min EMAs, the trend remains strongly positive. Conclusion: With CGPower's upward momentum intact and strong support from its EMAs, it remains in a bullish trajectory. Monitoring price action near ₹756, ₹786, ₹816, and ₹874 is essential for confirming continued strength. Disclaimer: I am not a SEBI Registered Research Analyst (RA). This analysis is for educational purposes only and should not be considered as investment advice. Please conduct your own research or consult a financial advisor before making any trading decisions.
NSE:CGPOWERLong
by Fight_Bulls_vs_Bear
SWING IDEA - OLECTRANSE:OLECTRA Greentech Ltd. has garnered significant interest recently, following the Government of India's announcement of an incentive scheme for electric vehicles (EVs). This development has positively impacted the stock's performance. Key Observations: 1. Resistance Turned Support: The ₹1640 level, previously a resistance point, has been successfully retested and converted into support (June retest). The stock has since maintained an upward trajectory. 2. MACD Crossover: A bullish MACD crossover is imminent on the weekly chart, indicating building momentum. 3. Swing High Target: A successful crossover could propel the stock towards its previous swing high levels in the coming weeks. Recommendation: If the MACD crossover materializes, it could signal a continuation of the upward trend. Investors should monitor the market conditions closely to ensure the trade setup aligns with the anticipated plan. Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Please conduct thorough research and consult with a financial advisor before making any investment decisions.
NSE:OLECTRALong
by thepranam
BEL : Key Support & Resistance Levels at Current Price of 286.90NSE:BEL : Key Support & Resistance Levels at Current Price of 286.90 As NSE:BEL trades around 286.90, it shows signs of weakness, and it's essential to focus on the following support and resistance levels for potential trading strategies: Resistance Levels: Immediate Resistance: 295 – This level may act as a barrier for upward movement. Psychological Resistance: 300 – A significant psychological level that traders watch; a breakout above this could attract more buying interest. Key Resistance: 307 – A crucial level for confirming bullish momentum; a strong close above here may indicate a sustained upward trend. Support Levels: Crucial Support: 285 – This key level may provide buying interest. A break below this could lead to further downside. Stronger Support: 275 – Acts as backup support, offering a safety net for traders. Lower Support: 267 – If tested, it would indicate significant selling pressure, warranting close attention. Outlook: BEL appears to be weak at the moment. Holding below the 285 support could lead to further declines, potentially testing 275 and 267. A bounce back above 285 may provide a chance for a retest of 295, but caution is advised given the current weakness. Disclaimer: I am not a SEBI Registered Research Analyst (RA). This analysis is for educational purposes only and should not be considered as investment advice. Please conduct your own research or consult a financial advisor before making any trading decisions. If you found this analysis helpful, please consider sharing, following, or boosting this idea! Your support is greatly appreciated!
NSE:BEL
by Fight_Bulls_vs_Bear
HSI significant pull back! FX:HKG33 Look at 1H chart movement together with the MACD & KDJ indicator, the histogram for MACD line & signal line is getting weaker (you can see both indicators curve seems lower than the previous wave). We should monitor. marked the time zone where the index turned bearish for the 1H chart. There was no re-entry position as trading in Asia time zone. The significant pull-back continues when market re-open here. It's 10% pull back this morning. Well, this is a good chance to look at for a better re-entry level. However, we should be cautious to avoid catching falling knives 🗡 what we see from the 1H chart MACD & KDJ both are on the downtrend level/bearish red zone. However, we can look at the support level at 21580. If the index stays above this level then the uptrend is still intact. Otherwise, we could expect a more significant pull-back (cross-check with longer tf chart 4H,8H). For shorter 1H tf swing trade check the 8H Chart for support/resistance level Find support level at 21500-21700 and resistance level 22000 -22300 It has been climbing too fast and taking a break now. Personal POV, prefer the movement slow and steady forming a stable staircase; more sustainable. Happy trading everyone! A pull-back is healthy for taking a breather.
H
by ChenQianYu
DBCORP: Positive Trend with Buy Opportunity on DipsNSE:DBCORP : Positive Trend with Buy Opportunity on Dips NSE:DBCORP is exhibiting a positive trend, but careful attention is needed around key levels due to possible trapped trader zones. A buy-on-dip strategy near support may provide an optimal entry point. Support Zone: 335 – This is a strong area to consider buying on dips, with the last stop-loss set at 325 for risk management. Resistance Levels: 375 / 396 – Resistance here could lead to temporary pullbacks. Watch for a breakout above 396 to confirm strong bullish continuation. Price Action: The stock's behavior suggests some trapped traders, so it's essential to monitor price action closely for false breakouts. A buy-on-dip strategy near the 335 support could offer good risk-reward opportunities if the trend holds. Disclaimer: I am not a SEBI-registered Research Analyst. This analysis is for educational purposes only. Please perform your own research or consult a financial advisor before taking any trading decisions.
NSE:DBCORPLong
by Fight_Bulls_vs_Bear
XAUUSD TRADE IDEAhi all Gold is currently trading within a 4-hour range. The price has already broken the initial trendline. Now, we are waiting for the second trendline, which is between the high of $2,672.96 and the low of $2,631.92, to break. A pullback to the 0.236% Fibonacci extension area might provide an opportunity to buy the dip and cut the position if the candle closes below $2,634.37. **My trading strategy is not intended to be a signal. It’s a process of learning about market structure and sharpening my trading skills, as well as for my trade journal.**
FX:XAUUSDLong
by mytw0cents
GBPUSD Live Week 40 Swing zonesAfter 12 weeks of consistent trades; seems about time to trial live. Yep, Week 40 will be real money trades. Starting with a balance of $200 and SL of 10-15 pips, this should give about 13-20 trades before blowout (hopefully not). Some trades will missed, entries off; yea, most of us have a 9-5ish job and need sleep. Week 40 SZz are set. Price action determines trades Trading is risky, am trading with money i can afford to lose. Follow and journey with me
Short
by PinchPips
Example of Conditions for Starting Trading Hello, traders. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a nice day today. ------------------------------------- I will publish in advance due to an external schedule tomorrow. Accordingly, I will take time to provide additional explanations on the ideas published today. ---------------------------------------- I will talk about the basis for indicating the direction of progress shown in the chart above. In order to differentiate from other people's analyses, I am trying to explain the basis for indicating the support and resistance points or sections on the chart. I think that if you understand why those points and sections were set, you will eventually be able to understand them without having to read the explanation all the way through. For this, more support and resistance points are needed. This is because we can select the volatility period by additionally drawing the trend line. However, since all of these processes are displayed on the chart, there are many complaints that the chart is messy and confusing, so we are trying to reduce them as much as possible. Therefore, there are cases where the chart is displayed in two versions. The chart below is a chart that shows many support and resistance points and draws a trend line to select the volatility period. Therefore, since the support and resistance points may be displayed differently, it is recommended that you refer to the points or sections that I have written. - The conditions for starting a transaction are simpler than they look. However, when these conditions are met, the support and resistance points drawn on the 1M, 1W, and 1D charts must be displayed. Therefore, even if the conditions for starting a transaction are met, if the support and resistance points are not displayed at the corresponding price, you cannot start a transaction. Please read this carefully and thank you. - (It would be good to see this as an example of how to find the conditions that fit you and how to utilize them.) Conditions for starting a transaction are 1. Buying time conditions - When the StochRSI indicator rises in the oversold range and maintains the state of StochRSI > StochRSI EMA - When the BW indicator forms a horizontal line at the lowest point (0) - When the OBV indicator rises below the 0 point - When the DMI indicator rises below the 0 point 2. Selling time conditions - When the StochRSI indicator falls in the overbought range and maintains the state of StochRSI < StochRSI EMA - When the BW indicator forms a horizontal line at the highest point (100) - When the OBV indicator falls above the 0 point - When the DMI indicator falls above the 0 point When the above conditions are met, check whether there is support at the support and resistance points drawn near the price. Confirmation is used to proceed with the transaction. The current price position is 60672.0-61099.25. Therefore, you can proceed with the transaction depending on whether there is support in this section. Since it is currently falling below 60672.0, there is nothing you can do in spot trading other than cutting losses. In futures trading, you can enter with a sell (SHORT) position. - It is rare for all the conditions for starting a transaction mentioned above to be met. Therefore, it is recommended to basically check whether the BW indicator forms a horizontal line at the lowest point (0) or highest point (100), and then proceed with the transaction by checking the movement of the StochRSI indicator. Also, it is recommended to select a split sell section to make a profit by calculating the fluctuation range while checking the strength of the rise or fall with OBV and DMI. - In summary of the above, Since the StochRSI indicator has not yet risen from the oversold zone and StochRSI < StochRSI EMA, it is recommended to check whether a reversal is occurring. Also, you should check whether the BW indicator has fallen to the lowest point (0) and formed a horizontal line. If the OBV and DMI indicators rise below the 0 point without meeting these conditions, you should proceed with an aggressive purchase (a transaction that requires a quick response similar to scalping or day trading). If you do not proceed with an aggressive purchase, you should wait. - It is not a good idea to enter a current sell (SHORT) position in futures trading. However, if you proceed with an aggressive transaction (scalping or day trading), you can start trading. The reason why it is not a good condition for trading is because the price is located in the 1. purchase timing condition section among the conditions for starting a transaction mentioned above. Therefore, the profit is small or you may even suffer a loss. - If you are not currently trading, I think the section where you should trade is when it rises around 61K. Before that, it is highly likely that you will not be able to purchase because it seems like it will fall further. I think this point, or the section where you actually trade, is the psychological volume profile section. This psychological volume profile section is the section where psychology applies that you must trade even now. Since this point is ultimately a low or high point, it is a section where you are likely to incur losses if you purchase. The 61K section that I mentioned earlier is a section where it is highly likely to be a low point, so it is a section where you are likely to incur losses if you cut your loss or enter a sell (SHORT) position. - If it shows resistance near 60672.0, there is a possibility that a sharp decline will occur momentarily and touch 59K and then rise. This phenomenon can be a fake or a sweep movement, so you need to be careful. In order to avoid losses from this phenomenon, auxiliary indicators are necessary. Since auxiliary indicators are lagging, they are unlikely to show large movements in sudden price fluctuations. - What I am talking about is not a method of chart analysis, but an example of how to set a standard for trading. Therefore, I hope you do not misunderstand the above as about chart analysis. Since chart analysis and trading are different, what you see on the chart is also different. In order to complement this difference, what is needed is the support and resistance points drawn on the 1M, 1W, and 1D charts. Since charts without support and resistance points are likely to be for chart analysis, there is no need to try to find a trading point on these charts. - Have a good time. Thank you. -------------------------------------------------- - ​​Big picture It is expected that the real uptrend will start after rising above 29K. The section expected to be touched in the next bull market is 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (overshooting) 4th: 134018.28 151166.97-157451.83 (overshooting) 5th: 178910.15 These are points where resistance is likely to be encountered in the future. We need to see if we can break through these points. We need to see the movement when we touch this section because I think we can create a new trend in the overshooting section. #BTCUSD 1M If the major uptrend continues until 2025, it is expected to start by creating a pull back pattern after rising to around 57014.33. 1st: 43833.05 2nd: 32992.55 -----------------
Education
by readCrypto