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Support

BTC-USDIn the last 5 weeks, we saw strong bearish pressure. The price updated the previous swing low and it means that the correction wave is almost over and has reached about 0.78% of the Fibonacci level. The price reached the weekly uptrend line. It is a support and I think it is the best time for a reversal. We need strong buyers who will start buying Bitcoin in good volume. In my opinion, the best option we should consider is consolidation around $32 000 to $34 500. after that, Because the last resistance of the downtrend has been broken, so a complete correction has been made and this is the best time to return to the same uptrend. In the first step, the price can rise at least to the same ascending peak around $48 000.
Long
by Amirvala
2
(SPY) Bears, the market may move lower: careful of the look backAMEX:SPY In this video I go over very general market conditions and express my bear case on the SPY using some simple indicators. This is not financial advise and was created for entertainment and educational purposes only. Do not use this video and its contents as a recommendation to buy or sell any type of security, the opinions expressed are of my own and should be taken with a grain of salt. No one person is always right (or wrong)- please do your own TA and DD when making any financial decisions in the market. A stock guru I know once told me "price action is king" and I took it to heart. Ignore the noise, be simple, look at the chart and let it speak to you. The video is really only supplemental information to pair with the post below (which is much more detailed): The SPY is coming off a very strong bearish candle close at $412. This marked a range from the previous 4 months with a top of range of $479.98 - closing the month of April's candle -14.33% or -$68.77. This 4 month move countered 8 months worth of price discovery - or in other words, a 1 year reset button was just pushed. Rewind. Monthly Time Frame: Stochastic shows neutral, room for buyers and sellers The 200 is trading below the 50, signaling a bull market - don't isolate this thought though The monthly candle that just closed pushed well past the 12 EMA - which acted as support on the previous 3 months candles (as seen as a slice of the candle wicks/shadows) Weekly Timeframe: Stochastic shows oversold slightly. On this time frame the SO seems to be much more sensitive on the oversold side than the overbought. Bears should keep this in mind when considering short term reversals or lookbacks. The weekly candle printed below the 50 SMA, 12/26 EMA, but above its 200 SMA. The 50 SMA (low) attempted support but ultimately failed. The Daily print closing below closing levels of April 2020 There was also a 12/26 EMA cross under that developed in the last daily print - this could signal a stronger downside that is to come. 3 Day Time Frame: Very similar to the weekly with one big difference lying in the 12/26 crossunder which happened Feb 10 and a look back rally that pushed through (but failed to maintain) in late March. May Sept Dec 21' and Feb 22' all produced similar 3day prints that were follow by a bull rally - do be careful of these rally periods as the SPY continues its downward trend as they will come because the price never goes straight up or down. The Stochastic is again showing signs of being very sensitive to oversold conditions. Oct 21', Jan Feb and March 22' all show a rally after touching the oversold mark. 1 Day Time Frame: This is where the picture becomes a little more clear IMO. The daily print is now below the 200 and 50 SMA set, and the 12/26 EMA still - both the 12 under the 26 and 50 under the 200 - technically a bear market (unlike the 1M, 1W, and 3D showing the 50 over 200) The first overhead EMA is the 12 which could be looked to as resistance upon a lookback. The 50 SMA (low) should also be noted, as it seemed to have provided support April 12th - 18th. This support is now considered resistance. Stochastic showing oversold, and again showing sensitivity to these conditions as compared to its counter This is IMO the most important line of support/resistance you can find - not just for the SPY but for the entire market. The ULTIMATE crash will come with confirmation of the break below. Mark this line on your charts and consider it for the future. This is the bottom of 08' that created support, switched to resistance in 11' which confirmation of its strength in 18' and 20'. It was only during a recovery(?) that it was broken. Time will tell if resistance is now support - we do not know yet because it has not been tested. My gut says it will provide some, but very little resistance when the time comes. This is what that line looks like relative to the daily for context - the current price is roughly $20 away of -5% from this line of "assumed" support. This is not a hard feat IMO for bears to look at as a price target in the short term. This would be in the $390-400 range. If you consider the 3 day chart in relation you will notice the 200 SMA set has a H-C-L of 387.26, 382.71, 376.92, respectively. This could be a lower PT that bears could be looking to. Additional levels to consider to the downside would be a range of 405-411 in the near short term. Really, considering the gap found on April 1st to April 5th that range could be extended to 400 before support could start to be used. There is no real structure here though, the next structure is found in the lower 390s. Lookbacks could happen at any time, but patterns lately show lots of doji and morning star reversals that tend to give us a heads up. Again, nothing goes up or down in a straight line. Lookback levels I would consider would be on the Daily time frame at the 50 and 200 SMA sets 50 SMA: 437.19, 433.28, 428.68 200 SMA: 450.98, 448.15, 445.13 Also, I would consider the pivots at 437.20 and 461.55 as resistance in the case of a rally Conclusion: I expect continuation of bearish pressure with short lived look back rallies. The market overall IMO is not topped out just yet and we very well may see higher highs before lower lows in the short term. Even though I do think a crash is imminent, I do believe there is room for bulls to take short control. Mainly do to oversold conditions that show lots of sensitivity. That said, there is also no indication of a bottom just yet either. Almost all signs point down. Remember, and this is the last time, nothing goes up or down forever - expect turbulence. I think the SPY will go down to $400 to at least test, and perhaps even lower to the 370s before a bottom is found. You all have a wonderful trading week and best of luck to all those in the market!
AMEX:SPYShort
by OccamsPhazer
2
Strategy, Support, Resistance - 4/24/2022This week we watch for a potential reversal of the selloff in stocks based on VIX reaching a key Resistance. The lows of the year may be tested still. Cryptocurrency still fails to gain bullish momentum as Bitcoin and Ethereum give up supports from the recent rally. Oil may get a bid this week back up to the top of the recent range. Gold and Silver continue to disappoint. BIG EARNINGS coming up this week in Google and Amazon and they have the eyes of the whole market upon them!
CBOE:VIX
by norok
2
NASDAQ trade idea and chart educationHey traders! Hope everyone has had a fantastic weekend but its now slowly time to get back into the groove of day trading! The New York markets are open today even tough most European markets are closed... which means we will have a chance to finally trade after a long, and deserved, 3 day weekend! In this video we go over a trade we have on the NASDAQ a trade we started to build and if opportunites present themselves we will continue to build. Nevertheless, the main point YOU should take out of this video is our analysis and charting process, you will see me map in only the most important and relevant levels and then you see me focus on price action, since PA is the only way the markets can talk to us you all need to learn to read the charts by always focusing on price action (highs/lows) Anyway, the video explains the rest! Questions are welcome! Have a fab day!
CAPITALCOM:US100Long
by PrimedGroup
The 3 most important levels to knowHey traders! In this video we go over the 3 most important price levels to know to find key support and resistance levels. More improtantly right around these levels is where the most action can take place in a trading day hence they are very important to know! As an example the trade we shared earned us around 50 pips pretty easily and we, at the time of writing, have another 31 pips on that 2nd short we took with you guys live! Hope this video helps and we will go over this in more detail soon! Happy Trading
OANDA:DE30EUR
by PrimedGroup
2
EURUSD Long trade plan✅ Potential long opportunity if we see price action invalidate the bearish structure, preferably price remain trading above 1.09 major level. ❌ Long bias invalidated when price trading below 1.0850 level. _________________________________________________________________________________________________________________________________________ Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together . Disclaimer the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. _________________________________________________________________________________________________________________________________________ Thank you for your support
Long
by LCFXpro
2
How I Trade Support and ResistanceIn this video made for Best of Us Investors I talk about my most fundamental trading component; trading and investing off Support and Resistance Levels. I also talk about how I combine this with my other fundamental component of 50% Retracement Levels. We look at live examples of NYSE:ZIM and NYSE:KO and look back in history for case studies of NASDAQ:AAPL , NASDAQ:AMZN , and NASDAQ:TSLA to see just how powerful this tool can be for high probability, low drawdown, profitable trades and investment entries!
NYSE:KOEducation
by norok
7
NZDUSD Long Trade Plan✅ Potential long opportunity if we see price respect the bullish structure, preferably price remain trading above 0.69 major level. ❌ Long bias invalidated when price trading below 0.6870 level. _________________________________________________________________________________________________________________________________________ Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together . Disclaimer the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. _________________________________________________________________________________________________________________________________________ Thank you for your support
Long
by LCFXpro
USDCAD Long Trade plan✅ Potential long opportunity if we see price respect the bullish structure, preferably price remain trading above 1.25 major level. ❌ Long bias invalidated when price trading below 1.2450 level. _________________________________________________________________________________________________________________________________________ Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together . Disclaimer the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. _________________________________________________________________________________________________________________________________________ Thank you for your support
Long
by LCFXpro
2
BTCUSDT wants to retest the 37600 The price created a double top on the monthly timeframe and had a breakout from the weekly support. On the 4h timeframe, the price is having a breakout from the dynamic support and the price is going to retest again the daily and 4h support on 37600. How to approach? IF the price is going to have a breakout from the support and retest as new resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
12
KCSUSDT is testing the 4h Support The price had a nice breakout from the monthly support and retested it as new resistance. On the daily timeframe the price is creating a descending channel below the weekly resistance. On the lower timeframe the price is testing the 4h support. How to approach? IF the price is going to lose the support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
8
KCSUSDT is testing an important supportThe price had a rejection from the monthly and after a breakdown from the weekly support on 19.84$ the price went to retest the daily support on 17,8$. On the 4h timeframe, the price got a rejection from the previous 4h support now new resistance on 18.6$ How to approach? The market is testing important daily support on 17.80$, the price bounced several times on that level. IF the price is going to lose the support and flip as new resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
6