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.
As some of you still are not sure in which market we have to trade, bullish or bearish, I want to offer you a market review based on a very simple but powerful trend following indicator. It is Ichimoku indicator where we can get a simple signal about the market direction. If the price is below the cloud, we have a bearish trend. If the price is above the cloud, we...
I want to say that Bitcoin is bullish in the long run.
I can support my position by the following arguments:
- the price stays above SMA50, SMA100, SMA200 and they confirm the bullish trend
- the price bounced from the support zone formed by SMA50 and SMA100
- we got a new swing low which is higher than the previous one
- the price broke the local downtrend...
What about the EOSUSD market?
In the daily timeframe, we can see how 3.70 resistance level stopped the upward movement. We got a new swing high, and we will use it for confirmation of a possible upward movement. If the price breaks this high, we will get a bullish signal. The target will be at 4.00 round number, and buyers will try to break the market high as...
Note : on my previous analysis (link attached below!) the price failed to breakdown the trendline support, here's the next plan
Plan : key level resistance breakout --> wait for prices to bounce off key level support --> wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar etc --> BUY
**Disclaimer** the content on this analysis is...
Note : the previous support levels have now been tested to be resistance levels (link attached below!), what if you haven't followed my previous short call, then what next? here's the plan
Plan : wait for prices to bounce off trendline resistance --> wait for the rejection candle pattern to form e.g. bearish engulfing , pinbar etc --> SELL
**Disclaimer** the...
Plan : trendline breakout --> wait for prices to bounce off trendline support --> wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar etc --> BUY
**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...
Note : daily key levels work well (link attached below!), prices go down quite impulsively and here is the plan :
Plan : wait for prices to bounce off horizontal resistance --> wait for the rejection candle pattern to form e.g. bearish engulfing , pinbar etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and...
It is another market, which will be able to provide interesting trade opportunities for both directions.
The price moves sideways above the support zone abd below the downtrend line. What does it mean? It means if the price breaks the support level, it will give us a sell signal. We can use it in the daily and lower timeframes. The market will have room for a...
The price reached the support zone formed by SMA100 and the uptrend line. The market is going to provide us a reversal candlestick pattern.
In spite of bearish signals from MACD, RSI, DMI, the lower timeframes will be able to provide us a new buy opportunity based on a reversal signal from the support zone.
The price can break the support zone as well. If so,...
An update from my previous XRP post, looking here at the 2H timeframe - chart is the entire month of January.
At the moment, XRP is holding it's confirmed trendline - more than 3 touches on the line - and earlier today tried wicking back down but couldn't , which indicates very bullish momentum.
I'd expect a clean break of the resistance at 0.247 before a test...
Hello Traders !
GBPJPY is right now at a Supply Zone. I expect the price to drop now. The support level could be your first Target. Final Target should be the Demand Zone.
Let me now in the comment section below your view on GBPJPY and what you think about my Analysis.
Please leave a Like
Thank you and we will see next time
- Darius.
ADABTC is looking good and it wants to get through that strong weekly level. As you can see price tested that red line too many times for the past 4 months.
Simple rule: the more we test it, the weaker it become.
So now that we have a nice green candle, we want price to close above the weekly and we will simply wait for the price to retrace and take a long at...
Hello Traders !
Price is now at a Supply Zone and I expect the price to drop now.
Let me now in the comment section below your view on GBPUSD and what you think about my Analysis.
Please leave a Like
Thank you and we will see next time
- Darius.
Hello Traders !
EURGBP is right now at a nice Demand Zone. I expect the price to go up.
Let me now in the comment section below your view on EURGBP and what you think about my Analysis.
Please leave a Like
Thank you and we will see next time
- Darius.
Hello Traders !
USDJPY is right now at a nice daily Supply Zone . I expect the price to drop now. Always trade zone to zone. Target would be the daily Demand Zone.
Let me now in the comment section below your view on USDJPY and what you think about my Analysis.
Please leave a Like
Thank you and we will see next time
- Darius.
Please refer to the idea linked below for study as it relates to this idea.
This idea is for demonstration and educational purposes and does not constitute a signal to sell. We see strong wick rejection at a key level and also the 200 MA serving as possible dynamic resistance. We do know that for the past three weeks we have seen bullish momentum building. We do...
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