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EDUCATION: Trend Support LineHello, dear subscribers! Yesterday we considered the simple support line. Today we continue to examine support types. Definition Trend support line occurs where the price is in the uptrend and is formed by the lows on the candlestick chart. Next to this line the price is likely to bounce off it because the demand/supply imbalance. How to trade with trend support? When we can draw line which connects 3 lows (1,2 and 3 points), the next lows which are lying on this line can be the properly entry points. Also we need to take a stop loss to eliminate the significant price decline effects. According to the chart this strategy would bring profit at points (4), (5), (6), (7) and (8). The first loss would be at the breakpoint (B), but the stoploss level reduce it. Summary 1)To define the support line by three points 2)To enter the position next to the line 3)To fix profit in case of success 4)To fix a small loss with the stoploss setup in case of support breakout
Education
by Skyrexio
EDUCATION: Simple Support LineHello, dear subscribers! Today we start our Educational series. We are going to public some elements of technical analysis every day. Definition The support level is the level which is likely not to be broken down by the price. It is a high probability of the bounce off this level. It occurs because when the price decreases, the demand is rising and the supply is decreasing. As a result the higher demand push the price up. How to trade with support We can get into the position on the support line level. For example, at the point (D) we already know that blue line is support (because of points (A) and (B). Also we have to use the stop loss level, if the price will substantially break this level down. If the price broke down the blue support (G), we can wait the yellow line price level to enter the position (3). It is also widely known that the price is likely to return back to the previous support (H) Summary 1)To define several support levels 2)To get into position on the first one 3)To fix a profit in case of price bounce 4)To fix small stop loss in case of huge breakdown 5)To buy again at the lower support. It is very effective strategy but there are a lot of cases, when support level definition is impossible.
Education
by Skyrexio
Recent AUD/NZD Long Trade Using ResistanceI caught a nice trade here yesterday on AUD/NZD. Price had recently broken through resistance, and we saw a strong bullish break out move. As the bullish momentum slowed down, we saw bears come back into power and drove the price back down to resistance. At this pint, we need to look for 2 actions: - Either price will break through the resistance level and the bearish move will continue, most likely down to previous support levels in which you could enter a short trade when the break through is confirmed. OR - We will see a rejection at the trend line where the price is struggling to break through the resistance, and bulls come back into the equation to drive the price upward. This is when you can enter a long trade. After identifying the rejection at the trend line, also in line with the MACD and RVI, I entered a long trade and banked a nice profit before bears came back into power and drove the price down. Support and resistance levels can be used to identify some lovely trade setups, as we have seen with AUD/NZD.
Education
by francesgurton
Tutorial on selecting your Price TargetR - Stands for Resistance 1, Resistance 2, Resistance 3 S - Stands for Support 1, Support 2, Support 3 P - Stands for Pivot Point One resistance level may be tomorrow's support. An easy way while initially learning is from analysts reports. I prefer to use pivot points based off TF's I anticipate tying up buying power in the trade. I.e. I5m-1hr Intraday Daily TF 1-4 days Weekly TF 4-14 days If you are not using pivot points, they are very easy to use on TradingView and will help have more success when selecting entries, stops, and targets.
NYSE:LMTEducation
by ZenMode
3
EW Analysis: NEOUSD Can See A Deeper Corrective DeclineHello traders! Today we will talk about cryptocurrencies, specifically NEO and its price action from Elliott Wave perspective. NEOUSD made an impulsive five-wave cycle from March lows, which suggests a bullish reversal at least in three waves A/1 - B/2 - C/3. Since the beginning of June, seems like NEO is making a three-wave a-b-c correction, where wave "c" is still missing. So, don't be surprised if we see another decline towards projected 8.0 - 6.0 support zone around important 61,8% - 78,6% Fibonacci retracement and this is where a higher degree wave B/2 correction may come to an end, which can be followed by strong and impulsive bounce back to highs for wave C/3. In case if we see something deeper and more complex, invalidation level remains at 4.0! Be humble and trade smart! If you like what we do, then please like and share! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BINANCE:NEOUSDEducation
by ew-forecast
BTC - The Madness to my Method - Part 2Everyone's always talking about horizontal support levels, yet they're always moving targets or zones. I got fed up of it, and decided to dig in more. Turns out diagonal support and resistance levels are much more reliable, and they behave very much like the triangles you always see on traders' charts. If you want more detail on this, you can check out my original idea on this linked below. What's different here is I have decided to get rid of the horizontal supports altogether. If you load new bars on my original idea, you'll see that BTC moved very cleanly bouncing between my diagonal lines, so I'm sticking with those. This is my idea on how BTC might behave in the coming weeks. If you find it helpful, please Like the idea. Also would be great to Follow me so you can be notified of my future ideas. Do you agree or disagree with me? Do you have any feedback? Let me know in the comments. Disclaimer No Investment Advice Provided Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Post/Idea or in connection with it are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. This Post/Idea should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information. I do not recommend the use of technical analysis as a sole means of trading decisions. I do not recommend making hurried trading decisions. You should always understand that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
BITSTAMP:BTCUSDEducation
by kkarmayogi
2
💁🏻‍♀️The resistance and support lines🤷🏻‍♀️ Hi, guys! 👋🏻👋🏻👋🏻We continue introduce newcomers with technical analysis and repeat the TA with “oldones”. 😆😆😆 🙌🏻Today we’ll talk about support and resistance levels. Let's go💪🏻 The resistance and support lines are the foundation of the classic technical analysis. All trend lines, models and figures are just combinations of resistance and support lines. A resistance line connects important market highs. It occurs at a time when customers are either no longer able or unwilling to buy at higher prices. Simultaneously with each ascending movement of the price, resistance of sellers increases and sales increase, which also puts descending pressure on the price. The upward trend stops and, as it were, rests on an invisible ceiling, which it cannot penetrate at the moment. If the bulls gather their strength or the bears weaken their grip, then the price is likely to break through the previously established resistance level. Otherwise, the reverse price movement (the so-called "rollback") is inevitable. The support line connects important lows (bottoms, soles) of the market. The emergence and existence of support lines is exactly the opposite of resistance lines. Here the “bulls” change places with the “bears”. Sellers are active players in the market who push the price down, while buyers are the defending side. The more active sellers are and the more passive buyers, the higher the likelihood that the level of the support line will be broken and the price will go further down. The lines of resistance are always above, the lines of support are below. If both the resistance line and the support line are strong and hold long enough, then depending on their combination, various images and associations arise, which give the name to trending models and figures. It should be noted that it is better to draw support / resistance lines on the charts through the zones of price accumulation, and not through maximum emissions. A massive accumulation of prices shows the behavior of the determining mass of traders, and emissions are just the panic actions of the weakest market participants. It should also be noted that the values of the levels are stored in the memory of traders and if some time when some events occurred when approaching a certain level, then the next time when approaching the same level there is a high probability that the trader will perform actions in that direction, where the price was moving the previous time. The more times a trend encounters its resistance or support, being unable to overcome them, the stronger signal about the weakness of the trend we receive, and the greater the likelihood of a reversal in the future. Often resistance changes places with support, and support changes with resistance. It's all about psychological factor. I hope you were interested and learned something new 😸, are U?🤔 Subscribe and put me like💋💋💋 Stay in touch⭐ Your Rocket Bomb🚀💣 My previous idea👇🏻👇🏻👇🏻
BITSTAMP:BTCUSDEducation
by RocketBomb
9
Today Pivot Points Support and Resistance | Try itI calculate the important lines of support and resistance in my own way. They are good for determining the end or beginning of new trends, as well as for intraday trading and swing trading. In any case, this is a very important confirming moment for my trading strategy. Try it and tell me your opinion. Thank! TICKER S3 S2 S1 Pivot Point R1 R2 R3 EUR/USD 1.072 1.077 1.08 1.086 1.09 1.095 1.1 USD/JPY 106.572 106.967 107.213 107.673 108.019 108.396 108.753 GBP/USD 1.223 1.23 1.236 1.243 1.25 1.255 1.261 AUD/USD 0.62 0.625 0.63 0.634 0.64 0.643 0.648 USD/CHF 0.959 0.962 0.966 0.969 0.973 0.976 0.979 NZD/USD 0.584 0.59 0.593 0.599 0.604 0.609 0.614 USD/CAD 1.384 1.393 1.4 1.409 1.418 1.425 1.433
Education
by MinnieTrading
4
Beginner Technical Analysis 101 - Support and ResisitanceBeginner Technical Analysis 101 - Support and Resistance. When you are first learning to trade, the charts can seem very daunting. I wanted to share with you a quick lesson in market structure that will help you understand a few things. You know how you don't see any nice cars around until you buy a nice car, and then they are everywhere? Actually they were there all along, but your brain wasn't programmed to see them. I won't get into the way the RAS works in your head but basically you didn't know what to look for so why would you see it? Trading is the same and I'm going to show you something here that will make you see charts totally differently forever - promise. This is a basic concept of technical analysis in trading and one of the first things I do when I look at sizing up any trade. It's called Support and Resistance. The concept is simple, prices of assets and contracts have particular levels that they react to. They may rise to a level and then (seemingly miraculously turn and fall back down. As a trader this is disheartening if you don't know whats happening. In fact, its a very simple concept. When price hits a certain point and turn back down, we call this resistance. When a price falls and then turns back up, we call this support. The really interesting thing is this - Resistance, once broken, becomes support. Support once broken, becomes resistance. It's one of the most basic, yet most powerful principles in trading and professional traders would never enter ANY trade without knowing their Sup and Res levels. I've drawn a chart (don't judge me I'm not an artist I'm a trader) to highlight this point. Now you know a secret of the market. You know something most people will never know and next time you see a change in a stock price, think to yourself - "I wonder if it hit resistance" - because it probably did If you want to learn more about trading and do some real education, I'm happy to recommend books and courses. Happy trading and good luck!
ASX:XJOEducation
by glennleese
Support And Resistance – The House! EICHERMOTOR.----------------------------------Support And Resistance – The House!---------------------------------- Support and Resistance explanation: Imagine that you are looking at a vertical cross-section of an "Old fashioned dolls house " which is shown in the schematic. Now you can see all the floors and ceilings in the house, and as you can see here we have a ground floor, first floor, second floor, and roof. The market then moves lower, having reversed, back to the floor, where it consolidates. The concept of Support and resistance is important for a number of reasons. --> First, as we have already seen, a breakout from a consolidation phase can be validated with volume , and if confirmed, provides excellent trading opportunities . The so-called breakout trade s. It is a WIN/WIN. You have the comfort of knowing that once the market has broken through a ceiling of price resistance, not only does this become a floor of price support, it has also become a barrier of price protection in the event of any short term re-test of this area. Any stop loss, for example, could then be placed in the lower regions of the price congestion. This is why breakout trading is so popular.
NSE:EICHERMOTEducation
by Trade-Technique
71