Support & Resistance

Support & Resistance is one of the most used techniques in technical analysis based on a concept that's easy to understand but difficult to master. It identifies price levels where historically the price reacted either by reversing or at least by slowing down and prior price behavior at these levels can leave clues for future price behavior. There are many different ways to identify these levels and to apply them in trading. Support and Resistance levels can be identifiable turning points, areas of congestion or psychological levels (round numbers that traders attach significance to). The higher the timeframe, the more relevant the levels become.

Finding the most important ones can take many hours of practice. They exist due to an influx of buyers or sellers at key junctures. The fact that these levels flip roles between support and resistance can be used to determine the range of a market, trade reversals, bounces or breakouts. Each of these trades will have their own rules for entry and exit. TradingView has a smart drawing tool that allows users to visually identify these levels on a chart.
DLavrov DLavrov EURUSD, W, Long ,
540 7 33
EURUSD Weekly Chart

Price passed through the kumo. DMI confirms strong upward movement. Probably we'll see up movement to the resistance zone between 1.14500-1.1500 levels. It means that we have to search entry levels for long trades. We can do it on the daily and hourly charts. As for short trades, they can be opened but only with close profit targets.

Roker1 Roker1 PRO EURAUD, 240, Short ,
EURAUD: Double Top at Resistance (EURAUD analysis)
126 7 15
EURAUD, 240 Short
Double Top at Resistance (EURAUD analysis)

Hi guys, if you take a look at the daily chart of this pair you'll notice right now we're testing a previous structure level that acted as resistance in the past. Being the case, i want to look for reversal setup down on lower timeframes, such as 1hr and 4hr. As you go down on the 4hr chart, it's apparent price is having some troubles breaking through 1,5050 level ...

bdkelly1203 bdkelly1203 PRO SCBTC, 45, Long ,
SCBTC: Siacoin should catch support here...
238 6 6
SCBTC, 45 Long
Siacoin should catch support here...

Looking at the charts there is a lot of momentum left inside this uptrend. SC/BTC looks strong after pulling back from recent highs of nearly highs of 600 satoshi. A brave buy for anyone looking to long this breakthrough crypto...

magoo13 magoo13 EURUSD, D, Short ,
EURUSD: EURUSD Short possibility
117 1 7
EURUSD Short possibility

i believe a short is coming and once it reaches that key level 1.12490 or higher is a great entry zone, its a great supply and demand zone and resistance level and believe a good target to be at the 50% fib level, sorry this is my first published idea and i will learn to be more descriptive as time goes on, Cheers.

PriceActionJungle PriceActionJungle XAGUSD, 240, Long ,
XAGUSD: Strong silver
100 1 7
XAGUSD, 240 Long
Strong silver

Silver already tested resistance area and strong move up neutralized that move very fast. Break out is very likely to happen and if so, long target is AB=CD move which has confluence with fibonacci area.

TheDudeForex TheDudeForex EURUSD, D, Short ,
EURUSD: EUR/USD completed  Bat Pattern
187 0 8
EUR/USD completed Bat Pattern

Bat Pattern almost completed with D at strong resistance level around 1.1230. This is a nice place to go short with stop slightly above 1.1310. If pair moves above this level, than idea is invalid! 3 possible TP points are shown. Those are not written in gold, but are dependant on market conditions. First to provide safe profit at around 23.6% fibonacci ...

Alec40 Alec40 PRO DJI, D, Long ,
DJI: The Dow is setting up to move Higher! This Gap is trying to fill
81 0 6
DJI, D Long
The Dow is setting up to move Higher! This Gap is trying to fill

Hey Traders, I have done some analysis on the Major indexes, (Dow, S&P, Nasdaq etc.) I believe the general Markets may be attempting to head higher here. I am still cautious as I have mentioned in previous ideas and will not be leaving myself over exposed to one side of these markets however I am leaning towards a long bias this week. I think the recent gap on the ...

PavelKarakay PavelKarakay DXY, 240, Long ,
49 0 6
DXY, 240 Long

Price reached down to the "trump spike", served as a support level in the past. Price action: morning star pattern. Divergence I think its a good place for the dollar to make a small recovery before falling even further down.

clament28 clament28 USOIL, D, Long ,
USOIL: OIL USOIL Trading Idea for IW21 (22/05/2017)
80 0 5
OIL USOIL Trading Idea for IW21 (22/05/2017)

OIL is approaching deciding point soon at around $51.60 Resistance area. I am bias toward Long at this. Watch for this Wednesday Crude OIL Inventories Data. If it break OIL shall heads towards $55 else it will retrace back to below $50 ** Breakout skillz can be used here. Trade Safe :)

vmcreamer vmcreamer PRO GBPCAD, 240, Short ,
GBPCAD: GBPCAD - Bearish Bat - Four Hour - Double Opportunity
28 0 5
GBPCAD, 240 Short
GBPCAD - Bearish Bat - Four Hour - Double Opportunity

Hi Guys, Here we have a valid Bearish Bat on the GBPCAD Four Hour. Price is currently heading to 'D' point in a parallel channel. When it reaches, there is an excellent 1:2 risk to reward opportunity. In the meantime, price has broken all resistance levels in the current price swing, it is consistently performing in the upward channel. Therefore, once it ...

adamnkiss adamnkiss PRO AUDUSD, 240,
AUDUSD: Is it time to buy AUDUSD?
38 0 4
Is it time to buy AUDUSD?

Hey Everyone! Let's see a scenario for AUDUSD LONG. Very strong support/resistance @0.745 - white line An upward movement for 7+ days A valid trendline that holds the price Now, even if we have these good points we can't just look at the long side. I will only take this position once the price hits the 0.746 or even a bit higher. The safest place to ...

lance0010 lance0010 EURGBP, 240, Short ,
EURGBP: Bearish Gartley completion on EURGBP
37 0 4
EURGBP, 240 Short
Bearish Gartley completion on EURGBP

-price action moved to top of channel -rsi divergence -volume significant at resistance level --> this idea is valid until a daily close above 0.8645

Tom_Killick Tom_Killick PRO AUDCAD, D, Short ,
AUDCAD: AUDCAD watch for a sell.
127 0 7
AUDCAD watch for a sell.

Hi traders, Keep an eye on this one for a sell setup. I am expecting a move down, but the question is, is the upside over? I guess when price hits the sideway support we will soon find out, maybe one more up leg before the down impulse leg. I am expecting downside in the form of impulse leg. It could bounce on the support level before the breakdown. You can sell ...

deremermark123 deremermark123 PRO USDCAD, D, Long ,
USDCAD: usd/cad ,buy
33 0 4
usd/cad ,buy

wait for price to turn around ,it may not make trend line ,it is at support area ,then buy

Merchanterx5 Merchanterx5 USDCAD, D, Short ,
23 0 4

Broke main support levels with a strong candle break.

kawaljeetsingh kawaljeetsingh XAUUSD, D,
XAUUSD: neutral
21 0 4

wait for today may be market broke the red line and go to to his resistance level... or it may be take the red line for resitance and got to its first support

DXY: $DXY Exhaustion Gap Break Down ?
14 0 4
$DXY Exhaustion Gap Break Down ?

DXY The bullish run has been spectacular, but recent pause action has created an exhaustion gap showing completion to test November 2016 price gap breakout from 95 to 103. Failure to maintain above the intermediate long term upward sloping trend line at 94.45, would suggest a likely retest of next support levels at 87 levels. Is the bullish phase exhausted ?

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