Hello Traders, and welcome to a new year of endless learning opportunities! Today, we will kick off 2024 by exploring the concept of support and resistance, how to identify these levels and common misconceptions about them. Support and resistance levels play a crucial role in technical analysis and can greatly impact your trading strategy. Understanding these...
Price action technical analysis is a popular and effective approach to navigating the financial markets, including stocks, options, futures, Forex, Crypto, and Commodity trading. This article will provide expert tips and insights to help you successfully trade various financial instruments using price action technical analysis. By understanding and applying these...
Identifying the Support (lowest price), Resistance (highest price), and Key Levels (areas price gravitates to between Support and Resistance) one two or more timeframes. Today, I have them marked on the 4H and 1H Timeframes.
Identifying Support
Support is the lowest level a price will go before reversing. A support is created in two ways. The first way is when...
I write this tiny article to share the basics or my use of ths RSI indicator, coupled to supports and resistances levels, as well as trend lines (or any indicator you want to use as SUP/RES (moving averages, vwap ...))
This use implies a bit of practice in spotting divergences, but let's be honest, many of them appear on previous supports or resistances, just...
BITCOIN IS IN DOWNTREND WE ARE SEEING A GREAT SUPPORT AT 30K TO 33K LEVELS. THAT MEANS INVESTORS/TRADERS ARE HEAVILY BUYING AT THIS ZONE.
THIS DOWNTREND STARTED WHEN INVESTORS STARTED TO BOOK PROFITS ON 65K FOLLOWED BY SOME NEGATIVE NEWS.
THIS RESULTED IN RESISTANCE ZONE AT 65K LEVELS.
LIKE IF YOU GET TO LEARN SOMETHING NEW.
PLEASE COMMENT IF YOU ANY DOUBTS...
Hello traders,
Support and resistance is probably the most used technical tool.
Good fundamentals in technical analysis is a foundation for solid performance.
Any questions, feel free to ask.
Good luck.
Hello traders!
GBPAUD is clearly bearish, as we see a sharp fall in impulsive price activity down from 2.085 high. We are tracking a so-called impulse, a move that is structured by five waves, where two of them are corrections. Now, we are tracking a wave 4 correction which started at 1.768 level, and it can climb a little higher as corrections are made by three...
I calculate the important lines of support and resistance in my own way. They are good for determining the end or beginning of new trends, as well as for intraday trading and swing trading. In any case, this is a very important confirming moment for my trading strategy. Try it and tell me your opinion. Thank!
TICKER S3 S2 S1 Pivot Point R1 R2 R3
EUR/USD 1.072...
Price breakout happens! Now what?
As we all know supports and resistances are the key levels where the price stops, turns or does some floating before making the next big move.
Usually, the challenge is to find the right ones where those kind of events will happen.
You can see clearly from the graph that there are some key indications to take into consideration...
In a strong trending market like GAS currently in, support and resistance flip happens very often. Although other chart setups might not be as clean as this example, this technique can be used for all markets.
Broken Support turns into Resistance.
Broken Resistance turns into Support.
So how do we determine if a Support has been broken or not?
3 ways to view...
