Hi Traders....
If you didn't find a buy setup in a previous wave to the upside you have to wait that the price will fall back to that trendline then look for your setups again.
"May the forex be with you"
Old strong resistance turned new support and TL been used as good support also, price is currently sat at both of these so we can only see price movement to the upside.
A double setup where 2 things confirm it is a good trade to take cant be ignored, look at it like this.... You are looking for a film to watch ( not a mucky adult 1 ) ;p you come across a film but...
blue arrow marks a 360 pip manipulation spike, these are used by brokers to wipe out peoples trades who have set orders or have SL set around key support or resistance areas, its easy money for the brokers!
You can see how much of a key area this price was from our orange arrows pointing out where price entered the box and bounced using it as support, now the...
We are waiting to see if todays candle closes above or below this key resistance level, you can see how strong this level is by where price has previously touched this level and then bounced, But we think price will bounce and make further movement to the downside.
You could look at this the same way as buying a house, would you jump in and buy the house straight...
( circled ) here you are in no mas land half way in-between strong support and strong resistance, would you open a trade here? if you said YES then you really are gambling and should go to a casino, just ask yourself why would you throw money away on a trade that could go either way? you may as well put your money on RED or BLACK.
You have to be patient and wait...
I'm not going to point out where price touches these lines as it really is simple to see that these levels have been used as both SUPPORT and RESISTANCE, how do people not spot these? Do they constantly walk around with eyes closed? or more likely with heads in phones on dating apps looking for there next sexual transmitted infection ;p
It is so simple but yet...
I'm not going to point out where price touches these lines as it really is simple to see that these levels have been used as both SUPPORT and RESISTANCE, how do people not spot these? Do they constantly walk around with eyes closed? or more likely with heads in phones on dating apps looking for there next sexual transmitted infection ;p
It is so simple but yet...
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...
