Support and 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.
Bitcoin has returned to its last Impulse pushing up.
This is a crucial test of the overall trend structure.
This battle will determine the mid-term outlook.
"Impulse" is a surge that creates "Ripples", like a pebble into water.
"Impulse Redux" is returning of wave to the original source of energy.
"Impulse Core" is the zone of maximum energy, in the Golden...
My wise mentor said always:
"To making a very lot of money with a very few position in long term:
only need to spending a little time daily for hunting divergences."
Today I would like to give a little tutorial about that.
If you don't know what means divergence in charts, please read this first: Divergence Definition and Uses and the Divergence Cheaat Sheet
I...
I like to draw important price action levels on charts to look for reactions. These include:
Yearly Open
Monthly Open
Weekly Open
Weekly High Low Confluence
Major Fibonacci Retracements
BTC CME Gaps (use BTC1! daily chart)
Support Resistance zones
Keep in mind that I'm more concerned with the area than the specific price. I tend to wait to see a reaction...
Welcome!
Today I'll be demonstrating the efficacy of a method I've determined to identify and trade support and resistance (S/R) zones in real-time.
Normally, traditional technical analysis requires a S/R zone to experience multiple validation events (touches, reverses, bounces), before it becomes tradeable. The downside to this method is that numerous...
Should we buy Apple Inc stock at $200 per share as of August 2019? Apple #APPL stock supply and demand technical analysis is telling us a different story, we should not be thinking of buying Apple stock and holding it since there is monthly supply that has just gained control. When this kind of imbalance gains control, we expect price to react to it and produce...
Using Nuls as an example: since I was considering if I should buy some now, due to my personal interest in its fundamentals. However its chart, like with most other altcoins, look horrible at the moment.
Here, the chart shows NULs finding support on top of the thick-green LVDT line on the 3hr chart (note, for BTC, the 3hr, as well as 4hr, and especially the 1D...
DXY ( USD INDEX ) is the most important thing that you must watch every time when you will open trade.
and this is my opinion what will happening with DXY in this month August 2019
Welcome to Part 2 of the series examining algorithmic support and resistance (S/R).
Today we'll check out Apple Inc (AAPL), and how the algorithm defined S/R zones over the last 15 years.
So, as I mentioned in Part 1 (see the Related Ideas link below), the algorithm incorporates a number of factors to determine, in real-time, viable support and resistance zones....
Horizontal Support Resistance, Diagonal Support Resistant (Parallel Channel), Dynamic Support Resistance (EMA 10 EMA 20), Pin Bar.
Enter at Horizontal Level
Exit at Horizontal Level
Enter at 50% Retracement of Pinbar. 50.0 Fibonacci Retracement Level.
Exit at Horizontal Level of the Equidistant Channel. (Target 1)
Exit at the Measured Move Measured Objective of...
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...
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![BTCUSD: [BTCUSD] How to making LOT of MONEY - Hunting Divergence](https://s3.tradingview.com/q/qorgtA0z_mid.png "[BTCUSD] How to making LOT of MONEY - Hunting Divergence")
