Here are the new support and resistance levels for this pair. The price found support on daily support DS2 and moved up the daily support DS1. I see price heading towards daily resistance DR1 which will provide a short opportunity. I wait for the price to reach there and depending on the price action, will take the short. I will post the setup in case I take it.
1D time frame - RNDR creating a symmetrical triangle. 2.5 is a great entry to open long. Target: 3.8 SL: 2.5
So the resistance is doing its job. Though wanted to take a short trade from that resistance zone but could not as was not on screen. Anyways, now next logical support if this push back continues is the 2.63-2.64 zone as marked on the chart. Just noticed that 2.68 zone can also act as a support and have marked that also on the chart. Not sure if that is good...
RNDR Render is breaking out now Impulse MACD line has just crossed the Signal line (bullish) some gains expected also trading above the MA
The last long trade did not work out and closed in loss when the support was lost. Taking this long trade again from here. I think the price will hold the previous low and thats why previous low is set as stop loss. Risk is limited so this long trade is favorable.
We have talked about this monthly resistance in some of the previous trade setups. The resistance is doing its job till now and have kept the price controlled and currently trading just under it. The daily support under that resistance is holding the price and providing the bounce we see.
Anyways, I decided to take this short trade. While redrawing the chart I noticed that the 4h resistance was not drawn correctly which explains a bit excessive divergence from the resistance zone earlier. Anyways, I have redrawn that 4h resistance appropriately now. So now the price is heading towards resistance to retest it from below so probability is favoring...
The price is at 4h resistance again. Well, it can break the resistance this time but still short is favorable here. I would bet for a short here with a small position size. Target is 2.55.
The price retraced from the 4h resistance as marked on the chart as the final target of the last long trade. Now the price is again at the hourly support and expect the price to bounce here . The bounce is actually already taking place while I am writing this. Target marked on the chart for this long trade.
The price has entered into the daily support zone. This provides a trade opportunity favoring a long. The price may breach the level briefly but I think it is going to bounce enough from here to provide the long trade opportunity as marked on the chart towards 2.54 and 2.60.
Since the price has broken down the previous 4h support conclusively and trading below it, I would expect it to aim towards daily support. The daily support zone lies around 2.45-2.46. However, it may breach lower towards 2.36 as well. But anyway, that would be an opportunity for a long trade.
Hi dear friends, hope you are well and welcome to the new trade setup of Render Token (RNDR) with US Dollar pair. Our last successful trade of RNDR was as below: Now on a 4-hr time frame, RNDR has almost formed a bullish Gartley move for the next bullish reversal move. Note: Above idea is for educational purpose only. It is advised to diversify and...
As mentioned before, this one is showing some weakness and not even matching up to BTC move. Anyways, the price is currently ranging between the 4h support and 4h resistance zones. There were several touch to the support and price bounced to the resistance zone and pushed back from there. The system says to short it now from the resistance zone to the support...
The price is at the next 4h support. This one is a bit reasonable support than the previous one. Lets try this long towards 2.70 area.
Now since the price is at support, a long is favorable here. I expect the price to march up at least till 2.78 area.
The Render Token (RNDRUSD) is about to hit our long-term target (3.000) of the trade we made on March 22 (see chart below) two months ago, following our pattern perfectly: The Pitchfork Support and Resistance levels show that it won't be stopping here long-term as the Channel Up that is following since the March 10 rebound on the 1D MA100 (green trend-line)...
The price is currently trading inside the 4h resistance zone and I expect it to come back to the 4h support zone. The support is not that strong but I still think that a long is favorable from there. Lets try this long if the price retraces till that support level.
The price has touched the daily support and already bouncing from there. I expect the price to bounce higher and therefore favoring a long trade. I expect it to move to 2.54 first and then to 2.63 next.