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Trendlinesmatter

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
Key Supports and Resistance Levels of BTC/USDGood Afternoon traders. As many of you already know, Bitcoin has been rising rapidly throughout Q2 2023. The point of this post is to entice those who don't to look at the bigger picture. Perspective is everything, and whether you're trading crypto spot or futures, stock or derivatives, be sure to identify key support and resistance trading channels to look for breakouts. A breakout above the key resistance channel trending along I drew my first trendline (support) on the bottom of the chart from the lowermost point on an hourly chart starting at the bottom of the candle of Thursday June 22nd at 10am and ending with a second point on Wednesday June 28th at 3pm, extended right, creating a trendline among the bottom channel. I drew my second trendine (resistance) on the uppermost point of the candle of Friday June 23rd at 12:00pm, to the uppermost point of Tuesday June 27th at 10am, extending right, creating a trendline among the top channel. You can expect BTC to trade within the trends, and look for major moves for when it breaks out. Being able to identify trends and chart channels should be a practice in every trader's knowledge inventory, and applied throughout their trading career on most charts, if not all. *Remember to always apply alarms to these critical lines of support and resistance to help you identify breakouts.* Thanks for reading, and happy trading / success!
BINANCE:BTCUSD
by TanerT007
1
ALGO the Star 🌟: a Fresh Look pointing at +80% Shwatup doe! Hope you are healthy wealthy and blessed <3 It is a wild and beautiful day in the world of crypto, I hope all of you are experiencing it in joy! Now here we are looking at ALGO on the daily time frame, zoomed way out so BIG PICTURE ya; and what do we see?! ⭐️ I have been simply drawing trend lines on this chart throughout the past month or so and hadn’t noticed this star pattern forming, that is until this last parabolic upswing that seems to want to connect the 5-point star pattern to its peak point of $0.94 USD ... the 4.236 Fibonacci extension of our recent low of $0.27 that happens to coincide with the trend line of our previous peaks. Coincidence? Maybe we should ask the stars... ✨ As I said in my last idea titled ALGO Bullish Trend... , “if .47 is broken, we could see a quick move to the .53 area” Well, here we are bounced off .53 to support at .49 and now back up sitting right under .53 , at .5064 , with .52 looking like it wants to become support for further uptrend. With a breakout over .52 turned support confirmation, this trade comes into play. If this star pattern plays out, we may see some resistance at $0.68-$0.70 There looks to be STRONG support at $0.42, and strong support at $0.47 and $0.49, with strength and VOLUME building here at the $0.50-$0.52 level Long open for possible +80% gains from $0.52 to $0.94 These are my ideas and I am simply sharing my ideas with you. Please assume your own risk and management. I am not a financial advisor and this is not financial advice. One Love ❤️
COINBASE:ALGOUSDLong
by DharmaCat_Pro
5
SPX: This Could be a Bottom - If Confirmed.• The SPX is doing a bullish reaction today, which could become a bottom signal and a possible bullish reversal – but it is too soon for this; • Since the SPX lost the 4,078 support line, it was supposed to hit the next support line around 4,039. However, it is did bullish reaction in a “no man’s land”, and now it is trading above the 4,078 again; • I say it is a “no man’s land” because it is reacting exactly between the 4,078 and 4,039 support lines; • What’s the problem with this bullish reaction? The SPX is still struggling to break a few key resistance levels. As seen in the daily chart, the 21 ema is holding the price. • In the 1h chart, the trend is still very bearish, as the index is still doing lower highs/lows, and it is below the 21 ema – which by the way, is also acting as a resistance today; • Therefore, this bullish reaction could be just a bounce to the 21 ema, before another drop to the 4,039; • In addition to the 21 ema, in the 1h chart, we see the black line at 4,113, and a purple trend line connecting the previous top levels on it. Both lines are supposed to act as resistance levels; • The SPX could reverse, but it just won’t be easy, as it has yet to break its short-term resistances in order to trigger a bullish reversal pattern. Only then, we can go on and say that the index is confirming a bottom, and the 4,170s will be our next target. For now, let's wait for confirmation. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
SP:SPX
by Nathan_The_Finance_Hydra
2
SPX: Reaching Important Support Lines.• SPX lost a support line at 4,113, and it seems it wants to engage a bearish momentum; • The bias was already slightly bearish, as the index has been doing lower highs (purple line). But now, it is losing a key support line, indicating that it wants to seek lower levels, at least in the short-term. • In the daily chart, the index is about to hit its 21 ema, which is a technical support level and our target since our previous analysis (link below this post); • Unlike the 1h chart, the daily chart is still very bullish, as the index is still doing higher highs/lows, and it is above the 21 ema; • This suggests that the index is supposed to hit the next resistance at 4,195, but it is important to do a bullish reaction as soon as possible above its 21 ema to confirm a bottom signal - so far, no bottom signal yet; • If the SPX loses its 21 ema, then it might seek the next support line at 4,078, a multi-support/resistance line. Only by losing the 4,078 the index would frustrate the bullish bias. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
SP:SPX
by Nathan_The_Finance_Hydra
2
A Divergence Signal!The candlestick indicate a divergence signal where the price closed above the MA line without significant result in volume. RSI is gaining positive momentum due to fresh buying interest from the trader on the stock. But not contribute much on the volume. MACD indicates a divergence signal and coherence with the candlestick price where the price closed above the MA line. Is this will be a turning point for the stock towards next higher price peak? Using the resistance line is a good way to indicate if the price is gaining momentum towards next price peak. Let's save KAB in WL and watch out for significant price movement with volume support the price uptrend momentum. R 0.360 S 0.290
MYX:KABLong
by eskopitehmilo
TSLA: Triggered a Very Powerful Bearish Reversal Pattern.• TSLA lost its key support at $187, and it triggered a H&S chart pattern in the daily chart; • In the 1h chart, it failed in breaking its resistances, and the bias is clearly bearish, as it is doing nothing but lower highs/lows; • Even if TSLA does a bullish reaction, it would have to face multiple resistances, making a bullish thesis more unlikely; • First, in the 1h chart, there are the 21 ema and the purple trend line connecting the previous tops; • The $187 is a key point visible in both, 1h and D charts (it is the neckline of the H&S pattern in the daily chart); • In the daily chart, there’s the 21 ema, which TSLA for the first time since January; • In order to reject this bearish thesis, TSLA would have to do an amazing reaction, breaking all these resistances – so far, there’s no such reaction; • Keep in mind that TSLA just triggered an H&S chart pattern in the daily chart, and a pullback to the next resistance area is plausible. According to Bulkowski, H&S patterns have a pullback ratio of 68% (Encyclopedia of Chart Patterns); • I’ll keep you updated on this every day. Remember to follow me to keep in touch with my daily analysis!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
14
Rebound From Support Range!The candlestick pattern indicates the price has rebound from the price support range. Where the price gains momentum towards the R1. Although there was a significant price movement the result in volume is lower than the average volume. Hence, indicate an accumulated phase pattern but suggests that the long-term uptrend remains intact. The MACD is in a divergence signal, thus, conforming with the candlestick trendline. Let's save CNERGEN in WL and watch out for significant price movement with the volume above the average volume. R 0.965 S 0.865
CLong
by eskopitehmilo
Gaining Uptrend Momentum!The candlestick indicates a divergence signal due to buying interest from the traders. Hence, making a significant price movement in the stock price and closing above the MA line. The MACD and RSI indicators indicate a divergence signal, thus, conforming to the candlestick trendline. Precaution for a price correction between 5% to 10% from the recent high peak due to a short position from the traders. Let's save MIKROMB in the WL and watch out for significant price movement with volume. R 0.200 S 0.165
M
by eskopitehmilo
Price Rebound From Support Range!The price indicates a rebound within the support range where the price test attempted to break the MA13 line without having a large volume, hence, unable to close above the MA line. RSI and MACD indicate a divergence signal due to fresh buying interest in the stock. The candlestick pattern indicates the stock has the potential to continue the price uptrend in the upcoming trade sessions. Let's save CITAGLB in WL and watch out for significant price movement backed by high volume. R 0.355 S 0.295
MYX:CITAGLBLong
by eskopitehmilo
Why Trend Lines are Powerful with Trading The closest predictor indicators when it comes to trading are: Price action and volume. I’m going to talk a bit about Price action today as Volume is a whole different cattle of fish. With TradingView charting platform there are a few indicators to identify a trend: Trend lines, Bollinger Bands, Moving Averages, Candlesticks and other bands and channels too numerous to mention. #1: Trend Lines – Trend detector Trend lines are perfect for pointing out the direction of the market. Trend lines are a useful tool for identifying the direction of a market. They are a straight line that is plotted through a series of data points. You can either plot a straight diagonal line to determine whether the market is going up or down. Or you can plot horizontal lines to identify ranges, sideways consolidation areas. That’s because trend lines plot through a series of data points on the charts to help point out whether the trends are moving up down or sideways. There are a number of benefits with using trend lines including: • Trend directions To help identify the overall direction of the market, whether it is trending up, down, or sideways. • S&R levels Point out key support (floor levels) and resistance (ceiling levels) These are great for points of entry. • Chart patterns and breakout levels Chart patterns are also used with trend lines. Especially neck lines, brim levels, box formations etc… • Points of reversals We also use trend lines to wait for a break in structure. Once this happens, we can see if the market is about to change direction and reverse. • Convert chaos into order End of the day all technical analysis and price action is used for confirmation bias. To apply to a strategy and to make calculated and informed decisions on what to do if something happens. Almost like a If this then That! I’ve used trend lines and price action since 2003 and they remain an important element to trading analyses. End of the day, the market can only move up, down and sideways. And you know why? Because the famous psychology of demand and supply will always work. And so they are here to stay and we might as well take advantage of it.
JSE:J200Education
by Timonrosso
NIO: Next KEY SUPPORT/RESISTANCE levels to watch! 👀• NIO is in a short-term bear trend, but it just hit a support level, and it is reacting; • The support at $9.53 (red line) is our key point. This is the third time NIO hit this line, and in order to resume the bear trend, it has to break it as soon as possible; • If NIO bounces again, there’s a clear resistance level around the purple line – a trend line connecting the previous top levels; • As long as NIO remains between these key points, the bear trend won’t continue or reverse; • Let’s keep our eyes open for a breakout. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analyses!
NYSE:NIO
by Nathan_The_Finance_Hydra
5
NDX 100Here we are looking at NDX on the daily TF. As shown on the chart, we are analyzing two supports (Green). It’s important to note that these are both support lines. The upsloping on (the bottom one) and the horizontal trend line (top trend line) will both serve as strong support. Once target 1 is hit, there will be a small bounce for a few weeks to a couple of months. If the support breaks through the first target there will be further downside to the second target. Currently, NDX finds itself testing support, though we’re ready for a breakdown if it can’t hold. We will continue to monitor price action, and will follow up on this post when there’s either a small bounce and/or breakdown. What is your prediction on what the NDX? Cheers!
NASDAQ:NDX
by GarethSolowayOfficial
8