This is just an update on this trade we have been holding since the 1.71882 area, We can currently see price at another key resistance level, now we might see price break through this and make further movement up... or we could see a drop now after a few days of flying high ( the aeroplane might be out of gas and need a refuel )
Even though we currently hold a...
We have 2 support/resistance lines that have been well respected ( you can look and work where out for yourself this time ) because how will you ever learn if people keep pointing these out for you with big colourful arrows :p, We also have a lovely trend line ( TL ) that has been respected despite breaking out it didn't last long and came back up and started...
Drawn on the chart we have a key monthly support and resistance level ( been used as resistance in this chart ) On the monthly chart this level has been respected and touched the past 4 months... Get the chart up yourself and check you lazy bas#a'rds haha, You can also see this key monthly level has been respected on this chart ( 4H )
Now you can see why it is...
Support/Resistance line = Blue line
Trend line ( TL ) = Yellow line
Blue + Orange arrows = Support
Purple arrow = Resistance
Looking at this chart it took me seconds to spot these key levels, Support and resistance level has been used strongly in the past and price on Friday came up to test this level as resistance, What makes this setup even stronger is price...
Here we have 2 strong trend lines ( TL )
TL1 was touched by price 6 times before it finally broke out, and TL2 was touched 16 times before breaking out.
TL1 when price broke out it had a bullish run for 8 days and in this time it managed to collect 270 pips, going into this breakout there was a slowdown in selling power ( small bodied red candles ) and a lot of...
Drawn on the chart we have a key monthly support and resistance level ( been used as resistance in this chart ) On the monthly chart this level has been respected and touched the past 4 months... Get the chart up yourself and check you lazy bas#a'rds haha, You can also see this key monthly level has been respected on this chart ( 4H )
Now you can see why it is...
En este caso podemos ver como el mercado por segunda vez ha mostrado un fuerte intento de ruptura del nivel de soporte, respaldado por el canal bajista que hemos trazado hace algunas semanas. En este caso, recomendaría ver el comportamiento de las primeras horas de mercado, pues puede que veamos un pull back. En caso de que esto ocurra, el esperar un patrón de...
En este caso vemos como el precio al final termina por romper el patrón triangular del que veníamos hablando desde hace varios análisis. En este caso, debemos prestarle atención a la linea de tendencia marcada con la linea punteada pues podría comenzar a ejercer presión al soporte, abriendo la posibilidad de una ruptura, o bien, que la misma linea de tendencia...
Support and resistance levels are critical in financial markets.
They are very similar to pivot points, except simpler.
When the price of a pair goes up to $10,000 and goes down to $9000 USD, that $10,000 USD zone is now resistance. If it bounces from $9000 and up to $11,000, the $9000 level is now support and the $10,000 resistance is now broken and could...
