Locating Resistance and Support Levels > Basic Education
Timeframe: 4H & Above
If uncomfortable with ability to chart with Fibonacci, you may find using the Line Chart easier in identifying the Resistance and Support Levels.
From the closing price, simply locate the lowest low's and the highest peaks and draw a line straight across...
Pair keeps making higher highs and higher lows so my expectation is that the bullish trend will continue. We have a 4h sideways consolidation range that has developed. Breaking that top resistance point is my first entry @1.3534. Then my 2nd entry is at the resistance level of 1.3618. My TP is the -61.8% fib @ 1.3674. I am watching the MACD Blue line to cross...
The stock has broken the short-term resistance level with high bullish volume after bouncing on the bullish trendline. The resistance and the trendline created a triangle pattern. It could be a signal of a new strong uptrend creating after the consolidation.
The informations and the strategies discussed are NOT recommendation to buy, sell or trade any securities....
Since end of March 2017, 1.45000 price level has become and important key level as there was a shift from resistance to become support line. Another important level is 1.50000 because it is a round number and again, an important resistance level. For the past 2.5 months, EURCAD has been ranging in these 2 important level.
Price is now nearing support level, and I...
Based on the 4H chart, I can see a very nice support-resistance and pivot point here. At the moment, price just tested the 0.943 support level with both RSI(14) and Stochastic(14) is roaming around the oversold territory. 0.943 was also a support level during 28th August session, and hence this may be a potential strong support level as well. Plus, a bullish...
IOTA Price action facing top side resistance. RSI continues to flirt with trendline as we continue to pullback from fresh highs of ~$1.10 in mid-August. Watch for above average volume especially if MACD crosses zero and price action violates trendline. Watch this in the upcoming period for a potential breakout buy.
That is the question to ask. With the hard fork due late in September, ETH could possibly move back into the range. Will be looking to buy the dip to 258 - 260(if it can make this big a correction). Need to be careful if ETH breaks the resistance that could potentially be a fakeout.
Either ways, September should be interesting for ETH no matter what. A dip to 258...
Haven't updated oil for a while. I suggested an entry at this idea:
Time to update again, because we're printing a coil for a week now.
We are at a tricky level . 2 resistance and one time problem at this point:
1.This year's downtrend line (dotted red)
2. 200 SMA (light blue)
3. Getting late in the...
In this pair we can see a major resistance zone and a minor one and a pullback with a XABCD previous Harmonic Pattern.This would be a good short sell trade if anyone is interested.Just an analysis.
NOTE :- I am not a pro trader,still a learner.Feel free to show my mistakes and help me to learn.
112.18 resistance holds, further decline to 109.83 possible.
Firm break below 109.83 = target 108.81
Firm break below 108.81 = target 106.48
* * Firm break above 112.18 will place focus upward to 114.49 resistance.
Personal analysis only. Please use your own rules & strategies prior to entering market.
Brent at moment looking like bullish correction with small rising.
I'm not going to trade this. Looking to sell a minor rally up near 49$
Just waiting for price to trade up to resistance in the Sell Zone.
If the market retest the resistance zone we can enter a Short trade setup.
Have a good trading week!
Previous level at which Price Bounced back.
Inside Bar Formed on Candle 3 and 2
Candle is a PinBar (Combo)
Candle Already retrace more than 50 on Candle.
Why not opening a Sell order and place the Stop Lost a little bit higher than Candle 1.
Low risk Vs Big Reward.
AJ daily chart We have a potential short opportunity facing strong multiple resistance zone.
Near the same area of the Gartley Pattern PA is only a guideline of where we will be paying attention for trade setups and opportunity’s.