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Supportandresitance

Why you should only think about charts when looking at chartsHello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a nice day. ------------------------------------- When looking at the investment market, the first thing to do is to analyze the chart, and I wanted to say that the most important thing is how to create a trading strategy that suits your investment style with that chart. ------------------------------------------------- Most people try to predict the movement of the investment market by looking at the announcement of various economic indicators and the contents of global issues (war, corona, etc.). A big issue must be something that can cause great volatility in the investment market, but it is also clear that when such an issue accumulates, it can no longer create volatility. So, you should be careful that trying to predict the movement of the investment market with such issues can make a wrong prediction. Sudden big issues For example, in the case of a global shock due to an issue such as the 9/11 terrorist attack, it may cause great volatility without time to respond. Other than these issues, most of the chart's price movement will react first. In order to see this pre-reflection in advance, you need to look at the chart without reflecting factors that can change your psychological state, such as the announcement of various economic indicators or global issues. I don't think this kind of work is a big deal, but it is a very important factor that occupies a fairly important part of investing. We need to think a lot about how to figure out the trend only with the movement of the chart, away from the announcement of various economic indicators and thoughts about global issues. As it rises above the indicator called Low, which was created on June 19, 2022, we can see that it is splitting the flow of the chart in half. A change in the -100 indicator has always completed a low. Although it is currently showing a different look than before, it will form a low as long as the -100 indicator is created. The +100 indicator is an indicator that starts generating when a high is formed. Therefore, a rise above the +100 indicator means that the uptrend to break the high is likely. Therefore, in order to show a full-fledged uptrend from the current price position, it must rise above 38K. The high point has been holding for a long time now. However, the low point has not yet formed a clear point due to the change of the -100 indicator. However, as the -100 point is moved near the current price range, the possibility of forming a low is very high. This shows that we are facing a new trend. Keeping the price above 17941.69 is most important from a short-term perspective to create this new trend. The next most important thing is to keep the price above 20552.75. Then, it completes the appearance of a trough (a phenomenon in which the price drops more before making a bigger rise) before showing an uptrend. The StochRSI indicator is showing a fairly rapid decline. We will verify what we said above by looking at where the Stoch RSI indicator finds support and resistance when it turns upside down. This change in support and resistance points can tell you which direction the movement of the current chart is about to head. You may think my explanation is inconclusive, but the conclusion has already been drawn. We live in a flood of information. It is quite difficult to infer an objective conclusion by synthesizing such a large amount of information. Therefore, it is necessary to objectify all information using objectified tools and indicators. Many celebrities' chart analysis methods and trading methods are introduced on the Internet or in books. In order to make the contents of these people my own, it can only be acquired through numerous transactions and numerous experiences. Over time, trends change and all patterns change and evolve. In order to read the chart in line with these changes, I think it is better to use a simpler and faster way to analyze. This is because you can keep up with the ever-changing trends. It is more important to make your own mental state stable due to volatility by investing more time in the trading strategy than the time used for analysis. What do you guys think? -------------------------------------------------- ------------------------------------------- ** All descriptions are for reference only and do not guarantee profit or loss in investment. ** If you share this chart, you can use the indicators normally. ** The MRHAB-T indicator includes indicators that indicate points of support and resistance. ** Check the formulas for the MS-Signal, HA-Low, and HA-High indicators at (). ** SR_R_C indicators are displayed as StochRSI (line), RSI (columns), and CCI (bgcolor). ** The CCI indicator is displayed in the overbought section (CCI > +100) and oversold section (CCI < -100). (Short-term Stop Loss can be said to be a point where profit or loss can be preserved or additional entry can be made by split trading. This is a short-term investment perspective.) ---------------------------------
INDEX:BTCUSDEducation
by readCrypto
10
MATIC / USDT 1D chart Resistance and SupportNow we will check the situation on the MATIC chart in pair to USDT, also on a one-day interval. at the beginning, let's mark with a white line, the main downtrend line, however, we can see that the price has broken the local downtrend line. Now let's move on to checking where we currently have support for the price. And here we see that we first have a support zone from $0.93 to $0.81, if the price goes lower then the next support is at $0.70 and then $0.53. Looking the other way, we can see that the price has bounced off an important resistance at $1.04, then there is resistance at $1.20 and $1.45. Now look at the CHOP index, which indicates that the energy is starting to rise, MACD indicates that despite the correction, we are maintaining an upward trend, while the RSI shows a nice rebound, thanks to which we have a new place for growth.
M
by cryptodailyuk
EURUSD Long Term Predictions (4H Chart)Technical Analysis Summary EURUSD TREND ANALYSIS We have 1 Uptrend in green color Internal Trend (Long Term) Be careful trends need to be modified when broken to the new peaks(Downtrend) and lows (Uptrend). FUTURE PREDICTIONS We have many resistance and support levels that I have mentioned above. I use thickness as an indicator of strength of levels (ONLY FOR VISUALS). White levels Levels are very tight stop losses that could be used in high leverage future trading. Good luck everyone, stay safe! If you need help ​don't hesitate to send me a message or comment If you find this content beneficial please don't forget to LIKE and FOLLOW Trading Involves High Risk Not Financial Advice Exercise Proper Risk Management
by husseindergham
BITCOIN Will Have a Correction Before Going Back BullishHello Bitcoin traders, Bitcoin has been very bullish for the past two days, but always be ready for a correction because many signals show that it is still overbought (see my previous post for 4 signals). With the Fibonacci Retracement, we see many moments where the principal lines served as support or resistance for the price. The price has now reached the "Golden Pocket" where reversals often happen. We can expect the price to have a slight to medium correction before continuing its bullish rally.
BITSTAMP:BTCUSD
by YanakTrading
2
Every Traders Dream Chart PatternThis is a Dream chart pattern to be found. Multiple confluences of patterns and support lines intercepting at the same place. You can see that there is a huge bottom support line intersecting with a down sloping support line. On top of this, we have a reversal pin bar on today's chart and the completion of a bear flag . This is a 80% probability of success pattern. This is a Gold mine finding. I'm so confident on this pattern that I will be risking 50% of my portfolio. NOTE: This is not a financial advice. This is my on trading and how much risk tolerance I can take. You should only risk the money you can afford to lose. Happy trading.
NLong
by ppatrading101
7
Natural Gas Dream Chart Pattern LongThis is a Dream chart pattern to be found. Multiple confluences of patterns and support lines intercepting at the same place. You can see that there is a huge bottom support line intersecting with a down sloping support line. On top of this, we have a reversal pin bar on today's chart and the completion of a bear flag. This is a 80% probability of success pattern. This is a Gold mine finding. I'm so confident on this pattern that I will be risking 50% of my portfolio. NOTE: This is not a financial advice. This is my on trading and how much risk tolerance I can take. You should only risk the money you can afford to lose. Happy trading.
AMEX:UNGLong
by ppatrading101
3
Daily review of BTC interval 1DHello everyone, I invite you to check the current situation on BTC in pair to USD. First, we will mark the downtrend line, which, as you can see, the price has broken and gone up. Further, we can see that a formation called the Rounding Bottom has formed, which most often causes the price to rise further. We will mark what the further movement of btc should look like so that the price can go further up, but when the price drops below the resistance level and then bounces back from it, it will be an impulse for declines. Now we will use the fib retracemnet tool to check the places of support in a situation where the level cannot be maintained. Again, we can see a strong support zone from $16,912 to $16,516, but when the price breaks below this zone, we can see a drop to around $16,088, and then we have support at $15,439, where the last low is. However, let's assume that the BTC price will follow the current formation and further increases will begin, in this situation we first need to break the resistance zone from $ 17,610 to $ 17,954, then the resistance at $ 18,390, then we will open the way towards the resistance on level of $19,699. Please look at the volume, which indicates a definite predominance of buyers, but it should be noted that each day the volume weakens, which may indicate an upcoming rebound. In addition, the CHOP index shows exhausted energy, the MACD confirms the ongoing uptrend, while the RSI indicator moves in the upper range, which, like the volume, may indicate a local sideways trend or a small rebound.
COINBASE:BTCUSD
by cryptodailyuk
BNB / USDT 1DChart Review, Support and ResistanceHello, I invite you to review the BNB chart on a one-day timeframe. First, we will use the yellow line to mark the downtrend line that the price managed to break through the previously formed Bullish Pennant pattern. We can also see that the EMA Cross 10 red line has crossed the green EMA Cross 30 line from below, which often confirms an uptrend. However, here EMA Cross 50 and 200 should be observed, because only when the yellow line crosses the blue line from below indicates the beginning of a bullish upward movement. Now we can plot the support spots for the price and here we see that the first support is at $268.4, the second support is at $259.4, the third support is at $251.8 and the fourth support is at $244. Looking the other way, we see that the price is currently fighting resistance at $ 280.3 and the so-called golden point of 0.618 Fib, but so far it has not been successfully tested and the price has returned below this level. Next we have resistance at $296.8, breaking it will open the way towards resistance at $317.7. Please pay attention to the CHOP index, which indicates exhausted energy, the MACD indicator confirms the ongoing uptrend, while the RSI indicator is at the upper end of the range, which may indicate an imminent price rebound.
by cryptodailyuk
1
Daily review of BTC interval 1DHello everyone, I invite you to review the BTC chart in pair to USDT, on a one-day timeframe. At the beginning, using the blue lines, we can mark the downtrend channel in which we are moving. However, locally, with the help of a yellow line, we will mark the downtrend line with which the price is fighting. Next, we can move on to BTC support, and here we can see that we first have a strong support zone from $16,562 to $16,084, only when the price goes below this zone, we can see a drop to $15,457, which is the place of the last low, and further to the price of $13,635. Looking the other way, we see that we have first resistance at $16836 where the price is moving, further resistance appears at $17739 and $18416, then there will be a strong resistance zone from $19171 to $20174. When we look at the EMA Cross 50 and 200, we see that they indicate a continuation of the downtrend. However, after switching to EMA Cross 10 and 30, we see that the red line is moving and right next to the green one, when it crosses it, we can see an upward movement. Next, we see the CHOP index which indicates that we have a lot of energy for the upcoming move, the MACD indicator indicates an uptrend, while the RSI has been moving in the middle of the range for some time, so we cannot clearly determine the direction.
COINBASE:BTCUSD
by cryptodailyuk
Daily review of ETH interval 4HHello everyone, let's look at the ETH to USDT chart on the 4-hour timeframe. As you can see, the price is moving above the local uptrend line. Let's start with the support line and as you can see the first support in the near future is $1244, if the support is broken then the next support is $1226, $1211 and $1197. Now let's move on to the resistance line, as we can see the price has bounced off the very important $1275 level at 0.618 Fib, if it manages to break it, the next resistance will be $1309 and $1353. Looking at the CHOP indicator, we see that the energy has been exhausted, the MACD indicates that we are on the verge of entering a local downtrend, while the RSI indicator is at the upper limit, which may indicate a price correction.
by cryptodailyuk
1