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Trendlineanalysis

S&P500 at Support ZoneThere are two types of support and resistance (S/R) that we can see on the charts- Dynamic and static. Dynamic S/R levels are generally referred as trendlines whereas Static S/R levels are represented by horizontal lines. You must have frequently heard that a previous resistance area, once taken out by the buyers, may act as support in future. Similarly, if a support area is broken down, it may act as a resistance. There are various reasons which have already been discussed in a previous tutorial (read below). In the S&P chart, we can see that the price is currently at a dynamic support level (trendline) and a potential static support level- around 4448, which was previously acting as resistance in the middle of June. 🚀 Bullish Scenario If we observe the price action, there is lack of momentum on the downside. Which suggests that sellers are not that strong and buyers may still be accumulating in this downwave. A weekly up-bar (close at or near its highs) from here would confirm this view. Immediate Upside resistance would be at 4527 and then 4576 gap zone. After that we have 4607 highs and then 4637 and 4818 swing highs. 🚀 Bearish Scenario The bearish scenario would be the break of 4400 round number. In that case we will have an immediate support at around 4385. Below this level there are 4328 and 4195 that may act as support. Thanks for reading. Do like and share in the comment section which S/R level do you prefer to trade, dynamic or static? Disclaimer: The idea is just for educational purposes and not an investment advice. Apply your due diligence before trading with your hard-earned money.
SP:SPX
by Bravetotrade
10
COMP Trade UpdateTraders, Just realized I wasn't able to post the very fortunate trade entry that was made by me during our most recent flash crash a few days ago. I missed this post due to being briefly banned by TradingView for inadvertently violating House Rules. Long story short, I happened to be sitting at my computer that evening and was perusing the charts per the usual manner. I noticed that COMPUSD had reached its target down from the recent Head and Shoulders pattern seen. But because the selling pressure was so heavy I decided to set my buy order even lower per chance I might get the order triggered and filled. Therefore, I looked for the next best level down and found that level at 35.55. This is where I set my buy order. Lo and behold it was filled! In fact, my chart which gathers data from the Coinbase exchange here, shows the candle wick bottomed only a few cents lower at 35.43! This, traders, is why charting levels, trends, and patterns can be very helpful. Technical analysis is not always right. In fact, we have to count on a good percentage of our analysis being wrong. Such was the case in quite a few of my last entries which were stopped out during this flash crash. But TA gives us much better insight into what the probability of the trade becoming profitable might be. Pair TA with some fundamental analysis and you are well on your way to becoming a seasoned trader. Back to this chart. You can see that we remain in the H&S Target box. From a technical perspective, this remains a good re-entry area. Here are the positives: RSI back above support RSI still near oversold Price in H&S Target Box Price above good support (red area) Here are the negatives, including fundamental considerations: China FUD re: Evergrand bankruptcy Elon FUD selling BTC Macro-economic uncertainty = risk-off Fed Powell Speech Friday And one TA negative is that current candle is a shooting star As you can see, technically the trade remains in your favor. But there is a lot of FUD out there. Be cautious. Never risk more than you can afford to lose. Best, Stew
COINBASE:COMPUSDLong
by stewdamus
Silver bounces from support trend lineTrend lines are a powerful tool that represent areas where buyers and sellers tend to change their behaviors. On Silver, we can draw a support trend line that is upward-sloping and has held up prices for several months. Silver has reached this support level and is bouncing accordingly. Any traders positioning long will want to place a stop loss below the support trend line. If Silver does fall below the blue trend line, it is a big clue that the mood of the market is changing and that much lower pricing is on the way. Picking up a clue from Gold, a temporary bounce is normal, but the Elliott Wave count still suggests lower pricing is in the future for Gold. Based on Gold's pattern, this suggests Silver may find a temporary bounce then break down below the support trend line.
OANDA:XAGUSDLong
by JWagnerFXTrader
TOTAL & BTC: Guide to Trend Line AnalysisHi Traders, Investors and Speculators of Charts📈📉 One of the most important parts of trading is following the macro phase and planning your trades. The only way to do this, is to pre-identify the macro market cycle that's currently playing out, as well as determine key zones of support and resistance. You do this by drawing up trend lines on the chart, from a macro perspective. Here's a comprehensive Guide to Elliot Wave Theory, done on ETH : To summarize if you're short on time, Elliot wave identifies upward and downward phases during an overall bullish or bearish cycle. Wave 1-2 can often correct a near 50% from starting point of wave 0-1. This means the price can drop -50%, and you would still be in a bullish cycle . Now that we've discussed Elliot waves, we can also take a quick look at Wyckoff Method for BTC, which I did over here: In other words, don't be scared of corrections! Wait and plan your trade. There's no need to force a trade. If you have identified your support and resistance zones with diagonal and horizontal trend lines, you can wait for the price to reach your target and execute a brilliant trade with a great risk-reward setup.
CRYPTOCAP:TOTAL
by CryptoCheck-
31
Platinum is finally showing some life signals!The price fell hard in the last weeks under the yearly support find, but is finally showing some reversal signals. The green trendline is coming from last August. Both RSI and OBV show some degree of bullish reversal signals. The supertrend painted BUY in 4h. If we can clear the band at 925$, OANDA:XPTUSD can see the 980$ area quickly. Depending on how fast we go there, the structure may look like an eve-adam pattern, which may throw the price to 1040-1080 region. Combining the move with OANDA:XPDUSD , we may be at the beginning of a big bullish movement of precious metals! Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
OANDA:XPTUSDLong
by WhaleGambit
1
KPR Mills: Headed for a channel tradeCMP: 668 | Industry: Textiles P/E: 28.87 | Industry P/E: 33.2|ROE: 23.4% | ROCE: 24.4% |BV: INR 108 | EPS: INR 23.1| MCAP: 32,033 Cr. Aggressive Entry: 668 | Resistance Levels: 710 | 756 | 801 Stop Loss: 598 Confirmation entry levels > 680 | CCI: 92| EMA (9d): 658.7 | S. RSI: 72 Analysis: KPR Mills formed its last bottom in December 2022 at 485. Post that the stocks have been forming new higher highs and higher lows within a parallel channel with decent consolidation of 4 – 5 weeks on average before every rally to new monthly highs. The red line indicates the channel bandwidth line and a close above this line would indicate a confirmation to trade up to and beyond channel resistance levels. Entries at current levels can be taken for 710 levels and a strong support stands at 600, a close below which will hit the stoploss.
NSE:KPRMILLLong
by chandakpulkit
Bitcoin - Weekly Analysis Price action has forming the same patterns during its entire run up, as you can see illustrated by the resistance trendlines. The current pattern is a run up, fade from profit taking, and more buying steps in bringing it to a new high. Rinse and repeat. Currently, we will have to see how the price action reacts the current trendline support. Given that there is a Kumo twist and the price hasn't sold off to test it, could indicate a retest at low levels of support. If the current trendline support fails, then that's how we can be thinking about near term downside. On the flip side, if any news such as a positive court case or ETF approval could act as a catalyst event for buying. I am not saying that is going to happen, rather we must be mindful of the variables and dynamics of the situation. The trendline test will give us more indication of price directionality in the near term. So we will be watching how the current PA and support trend interact over the next week. Based on that interaction, I've given scenarios for both directions and we will have to be agile and unbiased in the short term, and let the price tell us what it is going to do. Sometimes short term forecasting neutrality is the perspective you want. You don't always have to force a binary choice in an unclear scenario.
COINBASE:BTCUSD
by SpektreSignal
1
A Positive Trend Towards Peak Price!The result in continuous high volumes where exceeding the MA20 line was due to efforts in price. This is aligned with the candlestick pattern where the price attempted to break out R2 price before the price closed at the R1 price. The MACD and RSI indicate a positive outlook where not showing indicators to back off from the uptrend pattern. The parallel channel provides a guideline where the price is within the limit of the control channel. In case the price closed below the parallel channel. Then the S1 will be the support limit. R 0.420, 0.430 S 0.355
MYX:EKOVESTLong
by eskopitehmilo
LMT a defense sector leader setup LONGOn the daily LMT, over the long term is shown to have descended into the support of the ascending support trendline in what appears to be an ascending wedge. Confluent with the support trendline is the mean VWAP and the mean band of the Bollinger Bands. I see an opening for a long trade targeting the resistance trendline and also the second standard deviation of the anchored VWAP ( red thick line) Fundamentally, LMT just beat on both the top and bottom lines. It is in a obvious growth industry with a bakclog of production in the setting of the Russian Ukraine war and the need for US and NATO to replenish their stockpiles. This long trade is best for investors content with slow moving blue chip Dow Jones type stocks or alternatively agile options traders able to leverage low magnitude up trends. I see about 10% upside and will buy some call options to exploit this setup.
NYSE:LMTLong
by AwesomeAvani
AUTOLINE INDUSTRIES - A TURNAROUND STOCKHELLO FRIENDS, Here I am sharing my views on AUTOLINE INDUSTRIES (NSE). the Stock has given a fresh breakout on 24th July with good intensity of volume suggesting bullish bias in the stock. Each and every indicator that is helpful in our analysis are also showing bullish bias of which snapshots are given below. Breakout of downward sloping trendline. Now we understand the overall past structure of this stock as per ELLIOT WAVE counts. The stock was in double correction phase in the Wave structure as WXY which is now seems to be completed and now we are in Impulse wave structure of 1-2-3-4-5, in which Wave 1 and 2 are completed and now we are unfolding bigger wave 3 of impulse wave 1-2-3-4-5. Overall wave structure At the time of breakout the stock gave a strong closing above significant Exponential Moving Averages i.e. 50-100-200 Our Trend Indicator - MACD is also positive Uptick in daily as well as in weekly time frame MACD DAILY MACD WEEKLY Strength Indicator/Oscillator - RSI is also positive uptick in double time frame and also it is above 60 that indicates strong strength. Directional movement index - DMI is also showing strong strength as DMI+ line (green) is positive uptick along with DMI line (black) Price at the time of breakout is also challenging the Upper Bollinger Band Conclusion/summary As every parameters are suggesting bullish bias, one may go long with strict stoploss. Thank You - KARAN DINGRA Disclaimer- I am not a SEBI registered analyst. All my studies are for educational purpose. I am not responsible for any kind of your profits and losses.
NSE:AUTOINDLong
by KARANN_DINGRA
2