Support and 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.
My strategy: I used many techniques in my analysis with
- Price Action is a trading technique that allows me to read the market and make subjective trading decisions based on the recent and actual price movements.
- Price Channel is a pair of parallel trend lines that form a chart pattern for a stock or commodity. Channels may be horizontal, ascending or...
Pennant formation, waiting for breakout. Sellers may break the pennant to the downside, as a 3rd touch to the upper trend line has been made along with a pin bar, after a double top was made at daily resistance (purple zone). The longer price tends to consolidate the more powerful of move that occurs when a breakout is made. Trend is still bearish overall, &...
Resistance zone prevents Bitcoin from pushing higher which is NOT unusual since this market is STILL IN A CORRECTIVE CONSOLIDATION. In fact, the 11650 low of the previous inside bar was taken out, generating a new sell signal. Both of our swing trade ideas reached their respective targets days ago, and all we maintain now is inventory from an average price in the...
Hi everyone, this is an approximate prevision in time. It's clear that we are currently in a Wave 4.... Another wave will occur after this consolidation... support are getting stronger it's why a retracement to the 50% is acceptable, we must not forget that the retracement of this main Wave 2 was very strong. A retracement to the 61.8% (golden) is also a...
Price is below the Daily and 15 KS (but above the 60 KS) as well as the cloud. This is a Type 2 trade with a High probability and good RRR.
Entry = Sell on a CLOSE be low the 60 KS (127.153
Stop = ??
Risk = 25 pips
Profit target = 126.12 ( The projected daily low )
Reward = Approx 101 Pips
RRR = 5-1
I would appreciate if you leave a comment or like as a...
Price is below the Daily, 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and good RRR.
2 Potential entries (it is one or the other, not both)
Entry = 127.62
Stop = 127.82
Risk = 20 pips
Profit target = 125.85 ( The projected daily low )
Reward = +177 PIps
RRR = 8.85 - 1
2nd Entry = 126.48
Stop = 126.78
Risk = 30 pips
Profit...
Price is below the 60 and 15 KS as well as the 15 cloud. This is a Type 1 trade with a High probability and good RRR.
2 Potential entries (it is one or the other, not both)
Entry = 1.8053
Stop = 1.8073
Risk = 20 pips
Profit target = 1.7826 ( The projected daily low )
Reward = +227 Pips
RRR = 11.5 - 1
2nd Entry = 1.7925
Stop = 1.7955
Risk = 30 pips
Profit target...
These support levels come from spring 2016. They were important horizontal supports at that time. I have already started buying this sleeping coin. Maybe we won't see such a cheap price for very long.
Hi, today we are going to talk more Bitcoin and its current landscape.
At the weekly chart, we had a bearish formation Shooting Star that was formed by this bearish confluence as mentioned above. Applying the Gann levels, we can see the possibility of Bitcoin reach $9.500,00 and with this level surpassed, possibly gaining traction until finds the bullish defense...
Top coin that has not shown itself properly yet Stellar Lumen
Stellar is an open source, decentralized protocol for digital currency to fiat money transfers which allows cross-border transactions between any pair of currencies.
In 2014, Jed McCaleb, founder of Mt. Gox and co-founder of Ripple, launched the network system Stellar with former lawyer Joyce Kim....
The price reached 1500 important level, and it looks like the market has potential and fundamental support to move higher.
Will the ATH be reached? It is a good question for discussion. If you have your personal opinion, please share it in comments below this post. But what we can say exactly now - the Gold market is the most exciting market at this moment.
How...
last week we remained at this level before taking a nice expansion move down, so far I'm assuming the move is not over yet and 1 more leg down is in play, I have alot of interest in a reaction from 10500-10800 level. It would make sense to hit the long stops there now, fake breakout above the wedge into the liquidity box...
Price is in a downtrend making LL & LH's.. Price has pulled back up to previous support structure & tested as new resistance which lines up with 0.65000 key lvl. Watching for a continuation of trend here as we go into the upcoming week ahead to set a new potential Lower low next..
Unresolved (Blue) Triange, with small potential short term channel (Black) emerging inside . My guess is retest $15.15 with sideways/consolatory movement afterwards. Price should respect both Triangle and the Channel until fed hike decision time in March, with breakout potential.
This dividend aristocrat is currently sitting about 75% below its ATH. The company’s average dividend yield during the last Recession in 2009 was 6.4%. With a 6.1% yield now, AT&T is trading at recession level prices. It has also acquired both direct tv and Time Warner since then. They're currently leading the 5G race. AT&T has followed up its 12-city rollout in...
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