Support & Resistance

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Support & Resistance

Support & Resistance is one of the most used techniques in technical analysis based on a concept that's easy to understand but difficult to master. It identifies price levels where historically the price reacted either by reversing or at least by slowing down and prior price behavior at these levels can leave clues for future price behavior. There are many different ways to identify these levels and to apply them in trading. Support and Resistance levels can be identifiable turning points, areas of congestion or psychological levels (round numbers that traders attach significance to). The higher the timeframe, the more relevant the levels become.

Finding the most important ones can take many hours of practice. They exist due to an influx of buyers or sellers at key junctures. The fact that these levels flip roles between support and resistance can be used to determine the range of a market, trade reversals, bounces or breakouts. Each of these trades will have their own rules for entry and exit. TradingView has a smart drawing tool that allows users to visually identify these levels on a chart.
DLavrov DLavrov PRO BTCUSDT, 240, Long ,
BTCUSDT: Bitcoin Buy Signal
6875 22 65
BTCUSDT, 240 Long
Bitcoin Buy Signal

The price bounces from the uptrend line. RSI confirms price reversal. We can try to catch possible upward movement. Pending orders for buy must be placed above 4325.00 level. Stop orders must be below the uptrend line and the local swing low. It's 4134.00 level. Profit target should be at 4500.00 level.

DLavrov DLavrov PRO ETHUSDT, 240, Long ,
ETHUSDT: Ethereum How to Trade
3713 7 55
ETHUSDT, 240 Long
Ethereum How to Trade

Let's look at the 4H chart of Ethereum and try to spot possible price movements and entry levels. We can see that the market is at the important zone formed by the uptrend line and 300.00 support level. If the price bounces from this zone and breaks the downtrend line from the 1H time frame, we'll get a signal of further upward movement. The market will rise to ...

DLavrov DLavrov PRO NEOUSDT, 240,
NEOUSDT: NEO How to Trade
11097 29 98
NEO How to Trade

If we look at the 4H chart of NEO, we can see a trend reversal chart pattern. Head & Shoulders pattern on the top gives a signal that the market is going to move downward. For confirmation this price movement, we'll need a price breakout below the signal line of H&S pattern. If so, the market will be able to drop to 15.50 level. For reaching this target based on ...

MarcPMarkets MarcPMarkets PRO ETHUSD, 240, Long ,
ETHUSD: ETHUSD Perspective And Levels: Higher Low Is Bullish But Slow.
1388 14 31
ETHUSD, 240 Long
ETHUSD Perspective And Levels: Higher Low Is Bullish But Slow.

ETHUSD Update: Higher low unfolds in the low 290s which establishes a subdegree Wave 2 bottom. All this market needs is a catalyst because in terms of price structure, this it is poised to push the 315 resistance. So much for the head and shoulders everyone was afraid of. If that bearish reversal pattern was in play, we would be breaking supports, not forming ...

Technician Technician PRO GBPNZD, 120, Short ,
GBPNZD: Trade 27: Intraday GBPNZD Short
1537 38 99
GBPNZD, 120 Short
Trade 27: Intraday GBPNZD Short

Just shorted GBPNZD for a quick trade. Long at: 1.7676... T1: 1.7600 .... SL: 1.7715 .. Risk for Trade 1.5% For more details and all Stats Disclaimer: This is my trading experience, it is not an invite or recommendation to trade. Remember -Never risk more than 2% of your balance on a single trade. And If you are a beginner 1%. -A ...

DLavrov DLavrov PRO GBPNZD, 240, Short ,
464 1 24
GBPNZD, 240 Short
GBPNZD Short Trade

The price bounces from Tenkan line of Ichimoku indicator. DMI confirms strong downward movement. It’s a sell opportunity. Pending orders should be placed below the local swing low - it’s 1.75850 level. Stop orders must be placed above the local swing high - it’s 1.77030 level. Profit target is at 1.74330 support level.

Apple22 Apple22 NZDUSD, 60, Short ,
NZDUSD: NZDUSD triple top on major resistance
59 0 5
NZDUSD, 60 Short
NZDUSD triple top on major resistance

NZDUSD triple top on major resistance

adi0149 adi0149 PAYBTC, 60, Long ,
PAYBTC: PAY/BTC possible breakout
383 6 6
PAYBTC, 60 Long
PAY/BTC possible breakout

There's a reasonable chance that PAY will breakout and if that happens, we could expect very high returns. I'm putting my stop at about 70k sats.

ks_trading ks_trading XAUUSD, 240, Long ,
XAUUSD: Strong Upward from Gold, 1 more Resistance to go
328 3 13
XAUUSD, 240 Long
Strong Upward from Gold, 1 more Resistance to go

Last night we saw Gold close around 1287. After so many times the Sellers try to give Gold pressure, the price still holding above the @1284.50. This could be a sign that the Sellers momentum is already losing it's power. Last night, a terror attack in Barcelona, Spain. Was also a trigger for Gold to trade in the high level. Right now, I still see Gold on track ...

uriyaz uriyaz AUDJPY, 15,
AUDJPY: AUDJPY waiting to long or short
17 0 4
AUDJPY waiting to long or short

this pair inside important zone. I will wait to a false breakout to sell/buy ( marked circles ) those 2 scenarios will produce low risk and high reward positions. So keep watching... :-)

KyleMcQuade KyleMcQuade PRO GBPJPY, 240, Long ,
52 1 3
GBPJPY, 240 Long

This week on the pound-yen we have a bullish bat . The USDJPY and GBPJPY have entered into a consolidating phase, both sitting at a level of support, with the GBPJPY itself is currently sitting at what can be argued as a pivot level to a previous 5-O formation. This is a key area worth watching! Stepping away from the chart, we have the GBP GDP and JPY CPI ...

Matheus Matheus AUDUSD, D, Long ,
AUDUSD: The Aussie Shows Strength. Give Me PA and We Will Trade It.
48 0 3
The Aussie Shows Strength. Give Me PA and We Will Trade It.

Aussie not seeming to let go of the bigger picture down trend. I wonder what these central banks want the dollar to do. Jesus Christ. Anyway trade the engulfing. Protect the trade and send the aussie to the moon. Watch intraday support and attack it with force traders. Keep up the work. Matt

stopsandlimits stopsandlimits USOIL, D,
USOIL: 18/08/2017 US Oil Analysis
26 0 3
18/08/2017 US Oil Analysis

TVC:USOIL Price has broken the resistance after a bullish candle.

seaasintheocean seaasintheocean XAGUSD, D, Short ,
XAGUSD: Top of the channel has been reached for Silver
27 0 3
Top of the channel has been reached for Silver

I think XAGUSD is at the top of the channel and will most likely fall. The 1 week graph shows that it's in a descending triangle as well. Will short USLV Monday.

motleifaul motleifaul PYPL, D, Long ,
PYPL: Support is Holding
1 0 3
PYPL, D Long
Support is Holding

The August rise has been retraced while the support holds.

KhFx KhFx XAUUSD, 60, Short ,
XAUUSD: short
109 0 2
XAUUSD, 60 Short

big risk

gillianpatrice gillianpatrice PRO FCTBTC, D, Long ,
FCTBTC: FCTBTC - Classic Bell curve and fat tail
95 0 2
FCTBTC - Classic Bell curve and fat tail

Long to a point then it's time to wait to see who is in control This formation tells me that FX traders and Instutional players are in the market. I like this pattern as the fat tail winds it's way up to the top of the curve eventually. However the daily is still Bearish. Enter with caution as you will be met with Bulls at the various levels I have in depicted. ...

DanLaffas DanLaffas BTCUSD, W,
BTCUSD: Hypothetical projection for BTCUSD as of Aug 19, 2017
166 2 1
Hypothetical projection for BTCUSD as of Aug 19, 2017

I've just been playing with potential future movements of Bitcoin and I like the layout of this one. This isn't a prediction worth planning trades on but more for my entertainment, to save it and see how it compares to the actual future movement (Just like I did with by 'Bump and Run' chart years ago). This one assumes the top is in for this stage of BTC. Either ...

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