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 TOP ETHUSD, D, Long ,
ETHUSD: Ethereum Buy Signal
2480 11 64
ETHUSD, D Long
Ethereum Buy Signal

The market bounced from MA50 and the support zone. RSI confirms price reversal and MACD histogram confirms up movement. We have long opportunity and it's time to buy above 280.00 level. Stop orders for long trades should be below 200.00 level. The profit targets are at the downtrend line and the resistance level. We'll have to watch for price action near the ...

DLavrov DLavrov TOP BTCUSD, D, Long ,
BTCUSD: Bitcoin Key Level
4625 25 80
BTCUSD, D Long
Bitcoin Key Level

The market falls and it's time to prepare for opening long trades. But which levels are good for buying? Let's look at the daily chart, even you trade based on hourly charts. We can draw Fib retracement based on the low 891.33 and the high 2980.00 level. Also we have several uptrend lines but we must focus on the middle one. If the market drops to this level, ...

DLavrov DLavrov TOP BTCUSD, D, Long ,
BTCUSD: Bitcoin Trading Idea
2036 30 45
BTCUSD, D Long
Bitcoin Trading Idea

Let's look at the daily chart of Bitcoin and try to understand possible price movements of this market. We can see that price bounces from MA50 and the support level 2400.00. This price reversal is confirmed by the candlestick pattern, RSI and MACD histogram. It's a signal that probably correction is over and we can see up movement. We should place buy-stop orders ...

DLavrov DLavrov TOP LTCUSD, D, Long ,
LTCUSD: Litecoin Buy Signal
1586 15 42
LTCUSD, D Long
Litecoin Buy Signal

Price bounced from the strong support level. RSI and a candlestick pattern confirms price reversal. We have long opportunity and it's logical to buy above 39.50 level with stop below 32.00 level. Probably the market will make a new attempt to reach 50.00 level. Our profit target should be near this resistance level. Long trades can be opened based on the trading ...

DLavrov DLavrov TOP EURGBP, D, Long ,
EURGBP: EURGBP Long Opportunity
359 0 33
EURGBP, D Long
EURGBP Long Opportunity

Price bounces from Tenkan and the uptrend line. DMI confirms strong up movement. We have long opportunity and it's time to place buy-stop orders above 0.88800 level with stop below 0.87500 level. Profit orders should be near 0.90000 - it's the major resistance level. If price breaks the uptrend line, it will be a signal of possible down movement to 0.87500, ...

DLavrov DLavrov TOP ETHBTC, D, Long ,
ETHBTC: ETHBTC Long Opportunity
676 9 27
ETHBTC, D Long
ETHBTC Long Opportunity

Price bounced from the support level 0.100000 and RSI confirmed price reversal. DMI shows trend market conditions and allows trading. It's long opportunity and we can buy above 0.120000 level with stop below 0.092000 level. Profit target for long trades should be near 0.150000 level.

DLavrov DLavrov TOP GBPJPY, D, Long ,
GBPJPY: GBPJPY Buy Signal
250 2 23
GBPJPY, D Long
GBPJPY Buy Signal

Price bounced from the uptrend line and started up movement. RSI confirmed price reversal and we had to wait for a trading signal from Ichimoku indicator. When a bullsih candle made a new high above the kumo, we got a possible entry level for long trades. But if you skipped this buy signal, you should wait for a retracement to 144.500-144.250 levels and buy from ...

DLavrov DLavrov TOP USDJPY, 240, Long ,
USDJPY: USDJPY New Buy Signal
1200 4 52
USDJPY, 240 Long
USDJPY New Buy Signal

In spite of a bearish divergence which gave a reversal signal, the market did not move lower. It is going to break the resistance level and give us a long opportunity. DMI confirms trend market conditions and allows trading. We can place buy-stop orders above 112.15 with stop below 111.40 level. Profit target for long trades must be near 113.00 and 114.00 levels.

minthooka minthooka BTCUSD, 240, Short ,
BTCUSD: BTC USD looks like it's going down
152 3 9
BTCUSD, 240 Short
BTC USD looks like it's going down

I'm not a huge fan of head and shoulders, however this has formed nice. It usually represents a trend reversal by having lower lows and highs and then breaking the support/resistance. This is the ABC correction to the 5 wave pattern upwards. It's also in a symettrical triangle. The famous psychological market chart would consider this in complacency. Once it ...

Jemil Jemil PRO ETHBTC, 15,
ETHBTC: ETHBTC Current status UPDATED
160 0 8
ETHBTC, 15
ETHBTC Current status UPDATED

After all, it seems that we are going to have ETH in the 300-350s range. It actually took less time than expected to break the resistance levels that I originally draw. BTC is also doing fairly well, so, money from people who looked at ETH as an alternative will probably be taken back to BTC thus reducing volume. Anyhow, confidence is slowly gaining ground, and ...

aandp4life aandp4life LTCBTC, D,
LTCBTC: Sell or Buy LTC/BTC???
583 0 3
LTCBTC, D
Sell or Buy LTC/BTC???

Support and resistance channel Buy LTC long for continuation at .1550 Sell LTC short for some profits to but on dip? buy LTC lower at .1000 Best of both worlds Profit Trading

ZainSaeed ZainSaeed DXY, D,
DXY: DXY could be buy here if support holds
38 0 7
DXY, D
DXY could be buy here if support holds

we have a support level here on daily chart of DXY (dollar index) you can see that there is a good rejection in past in this level and after that now after long time this level is on testing if price hold this level we will go for long just placing the stops below the support level if you are like hedge instead of sl then you should place your pending order below ...

ZLAPPED ZLAPPED USDJPY, 240, Short ,
USDJPY: Bearish set up!
59 1 6
USDJPY, 240 Short
Bearish set up!

The price has reached 61.8% on Fibonacci, which is the target before it's beginning of downfall. On 1hr timeframe, the price is trying to push through 112.450 resistance level for two times, but lower highs are forming which is an indication of downtrend or change in direction in Dow theory. Good luck & trade safe!

mmmoguschiy mmmoguschiy EURUSD, W, Short ,
EURUSD: EURUSD - AB=CD pattern
79 0 6
EURUSD, W Short
EURUSD - AB=CD pattern

Eurodollar is on serious resistance level. Big money on CFTC increase short positions.

hatzitesla hatzitesla EURUSD, D, Long ,
EURUSD: Fundamentals are no good for this pair anymore
56 0 6
EURUSD, D Long
Fundamentals are no good for this pair anymore

Pure price action here. Try to get a tactical entry don't just jump in. Trend continuation but wait for a bit of sideways consolidation since the last rally may be getting overextended. Any comment is appreciable. Let me know what you think. Thank you. Trade safe. Trade well.

phil.steuerwald phil.steuerwald BTCUSD, D, Long ,
BTCUSD: $2600 - Our level to beat today
155 0 5
BTCUSD, D Long
$2600 - Our level to beat today

Our resistance today is at $2600. Traders are advised to exercise more caution until we get through this level and the next at $2760. These will be key resistance areas moving forward. Our focus today is at $2600. Happy trading.

boxtrading boxtrading USDCAD, 30, Short ,
USDCAD: USDCAD - Down Trend - Its unlikely that Resistance Break
43 0 6
USDCAD, 30 Short
USDCAD - Down Trend - Its unlikely that Resistance Break

Potential Dip Sell - Wait two candles to exclude a breakout!

QuileHills QuileHills NZDCAD, M, Short ,
NZDCAD: NZDCAD Monthly Close for Short
33 0 6
NZDCAD, M Short
NZDCAD Monthly Close for Short

NZDCAD has spent almost year floating in the top of the resistance area created by the range the pair has been in since 2014. Looks like we may get a monthly bearish doji created at the end of this week. If so, I'll likely enter short targeting between 0.84 and 0.865. Looking back to my previous NZDCAD analysis I also recognize that this could be the potential ...

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