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Supportandresitance

MATIC/USDT Chart ReviewI invite you to review the MATIC chart in pair to USDT, on a one-day interval. First, we will use the blue lines to mark the downtrend channel where the price is moving in the upper range. Moving on, we can move on to marking support areas when we start a larger correction. And here the first very strong support is at the price of $0.59, but when the price drops below, we can see a drop to the support of $0.31. Looking the other way, we see that the price has rebounded from the first significant resistance at $ 0.90, which so far has no strength to break. then second resistance is at $1.03, then we have another resistance zone from $1.16 to $1.34, then strong resistance at $1.56. When we turn on the EMA Cross 200, we see that the price rebounded from this line and thus remained in a strong downtrend. Please look at the CHOP index, which indicates that there is still energy for this move, the RSI has a strong rebound with room for the price to go lower, while the STOCH indicator also indicates that there is some energy left for the next move.
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by cryptodailyuk
ETH/USDT 1H Interval Review ChartHello everyone, I invite you to review the chart of ETH in pair to USDT, also on an hourly interval. First of all, using the blue lines, we can mark the downtrend channel in which the price is currently moving. Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark the support, and as you can see the price stays just below the first support at $1828.61, then we can mark a very strong support zone from $1780 to $1712, then we have support at $1625.69. Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here in the first order we have a resistance zone from $1889 to $1916, then there is a second zone from $1944 to $1983 and then we have strong resistance at $2032. The CHOP index indicates that there is a lot of energy for the upcoming move. On the RSI, we are moving in the lower part of the range, and the increase in the indicator gives a very small price increase, while the STOCH indicator indicates that there is still energy, so the price may fall lower.
by cryptodailyuk
BTC/USDT 1H Interval Review ChartHello everyone, I invite you to check the current situation on BTC in pair to USDT, taking into account the interval of one hour. First, we will use the blue lines to mark the local downtrend channel. When we turn on the EMA Cross 50 and 200, we see that the yellow line of the ema cross 50 has crossed the blue lines of the ema cross 200 from above, which indicates the place of return to the strong downtrend where we are. In order to mark the support we will use the trend based fib extension tool and here we see that the price stays just below the support line at $29167, then we have support at $28865, when the support is broken we can see the price drop to the support area of $28022. Looking the other way, we can determine the places of resistance in a similar way. First, we will mark the resistance zone from $29427 to $29660, when we manage to break it, we have the second zone from $298848 to $30032, and then we can mark the third strong resistance zone from $30296 to $30635. Please pay attention to the CHOP index which indicates that we have a lot of energy to move, on the RSI we are in constant rebound with a place for the price to go lower, while the STOCH indicator indicates that the increase in energy gives very small upward moves, which may affect the price correction.
by cryptodailyuk
BTC Short-Term Review 1H IntervalHello everyone, let's look at the BTC to USDT chart on a one hour time frame. As you can see, the price has returned below the local downtrend line. After unfolding the Fib Retracement grid, we see that the price stays in the support zone from $ 29,257 to $ 28,994, however, if I fall lower, the next support is at $ 28,658. Looking the other way, we will first mark the resistance zone from $29,497 to $29,641, then we have resistance at $29,767, then at $29,960, and then at $30,196. Looking at the CHOP indicator, we see that the energy has been used, the RSI shows a rebound, while the STOCH indicator indicates that the energy is running out at the moment, which may give a temporary price rebound.
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by cryptodailyuk
USDX TRADE IDEAHi all from the weekly chart, the price high and low are almost retracing 0.618%. Additionally, the Federal Reserve is aiming to lower inflation to 2%, thus we had a pennant pattern break low, which I see as contradicting. I therefore expect to see a cpi y/y below 3.3 in this week's upcoming release of the CPI data, which could result in strong dollar. Therefore, I am targeting the 1.618 fibo extension with my buy stop on the daily chart. Let me know what you think In the comments! **My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills** Thanks a lot for your support
VANTAGE:USDXLong
by mytw0cents
XAUUSD TRADE UPDATEHi all following the breakout from level 1942.1 gold has reached the fibo extension of 1.618. So I'm looking for a pullback to the last breakout level to continue shorting as long as the price does not close above the level where I'm comfortable to take a risk. Let me know what you think In the comments! **My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills** Thanks a lot for your support
OANDA:XAUUSDShort
by mytw0cents
XAUUSD WEEKLY TRADE (UPDATE)After a few days, daily support at 1924 was broken. So, what's next? In my opinion, there are two important supports on the daily and weekly charts. As a result, a break from those levels may result in additional decline. On the other hand, if rejection occurs, the next resistance will be in 1941. Keep an eye on the weekly trendline as well. Let me know what you think In the comments! My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills. Thanks a lot for your support.
OANDA:XAUUSD
by mytw0cents
OIL - DIVERGENCE at resistance level! As we see, the oil is very close to resistance level of 82,0 until 83,50. A divergence has formed which is a sign of weakness. As soon as we see that the price bounces back from the resistance we can place a short order with SL the highs of the structure and TP 74,0. We are looking at 1:5 RR which is very good risk to reward. In case we brake the resistance level we look for a different scenario. Your comments and support are more than welcome!
CAPITALCOM:OIL_CRUDEShort
by mmackk
Support and Resistance- Flipping Roles⚡In simple terms, support is a level where demand overcomes supply, while resistance is a level where supply overcomes demand. In the market, different types of traders participate, and I have broadly categorized them into four groups based on their behavior. ⚡You may have heard that once a support level is broken, it tends to act as a resistance level, and vice versa. This phenomenon occurs because the roles of support and resistance flip, influenced by the psychology of traders at these levels. ⚡Let's illustrate this with an example. Consider Group A, a set of buyers who bought a stock at 80. The stock price rises to 100 but faces some resistance. At this point, Group B, consisting of short sellers, enters the market and starts selling the stock near 100, with their stop-loss orders placed just above 100. Thus, there is supply present at this level. ⚡The price consolidates within a narrow range and eventually breaks out above 100. Group A is delighted as they bought at a good price, but Group B becomes unhappy. Some members of Group B exit the trade as their stop-loss orders get triggered, while others continue to hold in hope of a favorable outcome. ⚡Now, another group of traders, Group C, known as breakout traders, becomes active above 100. Their buy orders, combined with the buy-stop orders from Group B, add momentum to the upward movement, pushing the price up to 110. ⚡As the buying pressure eases, and short-term traders take profits, the market starts to pull back, eventually reaching the old resistance area around 100. ⚡Many pullback traders look for buying opportunities near this level. Additionally, members of Group B, who shorted at 100, realize their mistake and start buying to close their short positions at breakeven. Some of them also reverse their positions. Other buyers who were waiting on the sidelines also start entering the market. All these buy orders create a strong demand. ⚡Notice that once there was significant supply at 100 and now there is significant demand. If this demand is substantial enough, the price resumes its upward movement, illustrating how changes in market sentiment impact a participant's psychology and consequently affect the nature of support and resistance levels. ⚡The reverse is true for how a support level, once broken down, turns into a resistance level. ⚡I hope you found this tutorial helpful. Please stay tuned for more educational content in the future. Feel free to show your support by liking this post. Disclaimer: Practical knowledge
NSE:NIFTYEducation
by Bravetotrade
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