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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 TOP BTCUSDT, 240,
BTCUSDT: Bitcoin Market Overview
8797 35 166
BTCUSDT, 240
Bitcoin Market Overview

In the previous post about Bitcoin I used the tools of Technicla Analysis for predicting further price movements. The main idea was that the price reached the up line of the ascending price channel. Mainly, the price reverses from such zones and falls to the middle or trend lines of the channel. But it's Bitcoin and it can do everything and move in any direction ...

MarcPMarkets MarcPMarkets PRO ETHUSD, 240, Long ,
ETHUSD: EHTUSD Perspective And Levels: Double Bottom For Swing Long.
4589 33 82
ETHUSD, 240 Long
EHTUSD Perspective And Levels: Double Bottom For Swing Long.

ETHUSD update: 315 support reached as pin bar appears on this time frame to show a possible double bottom formation. I am long at 321.24 (50% of position size) with a stop at 314 and target of 345 Risk/reward is about 3:1). The retest of the 315 level has played out as I wrote about in my previous report. And the price action at the moment is showing a bullish ...

Tradewonk Tradewonk TOP EURUSD, D, Short ,
EURUSD: EURUSD
1086 10 64
EURUSD, D Short
EURUSD

Resistance area looks quite strong, in case it will retested again, i think i will short. Stuff to remember: — First look for significant move, then follow it to its origins where you might find a suitable level to evaluate further — Make sure the initial move is significant on the same timeframe as the one you use for viewing your candidate level most ...

Tradewonk Tradewonk TOP XRPBTC, D, Long ,
XRPBTC: XRPBTC
1197 15 48
XRPBTC, D Long
XRPBTC

Ripple for long term investment - If it break the cup and reach the resistance area, it's a good sign for long term investment. Stuff to remember: — First look for significant move, then follow it to its origins where you might find a suitable level to evaluate further — Make sure the initial move is significant on the same timeframe as the one you use for ...

Tradewonk Tradewonk TOP GBPJPY, D, Long ,
GBPJPY: GBPJPY
632 8 56
GBPJPY, D Long
GBPJPY

Very strong fresh demand zone ahead, possible reverse, long opportunity. Stuff to remember: — First look for significant move, then follow it to its origins where you might find a suitable level to evaluate further — Make sure the initial move is significant on the same timeframe as the one you use for viewing your candidate level most clearly — Check the ...

Tradewonk Tradewonk TOP XAGUSD, 240, Long ,
XAGUSD: XAGUSD
349 12 38
XAGUSD, 240 Long
XAGUSD

Retest back into a demand zone , possible retracement, long opportunity Stuff to remember: — First look for significant move, then follow it to its origins where you might find a suitable level to evaluate further — Make sure the initial move is significant on the same timeframe as the one you use for viewing your candidate level most clearly — Check the ...

Tradewonk Tradewonk TOP CHFJPY, 240, Long ,
CHFJPY: CHFJPY
264 4 34
CHFJPY, 240 Long
CHFJPY

Fresh demand zone ahead, possible retracement, long opportunity. Stuff to remember: — First look for significant move, then follow it to its origins where you might find a suitable level to evaluate further — Make sure the initial move is significant on the same timeframe as the one you use for viewing your candidate level most clearly — Check the distance ...

Tradewonk Tradewonk TOP XAUUSD, D, Long ,
XAUUSD: XAUUSD
1122 9 61
XAUUSD, D Long
XAUUSD

Retest back into a demand zone , possible retracement, long opportunity Stuff to remember: — First look for significant move, then follow it to its origins where you might find a suitable level to evaluate further — Make sure the initial move is significant on the same timeframe as the one you use for viewing your candidate level most clearly — Check the ...

Roker1 Roker1 PRO GBPJPY, 60, Long ,
GBPJPY: Bat at Structure (video analysis attached)
149 0 11
GBPJPY, 60 Long
Bat at Structure (video analysis attached)

Hi guys, as i was highlighting in my latest weekly videoanalysis (link down below) this is a key structure zone on the daily and therefore it could turn to be important on the hourly timeframe as well. Last week we had a Cypher, this week you can see price action is forming another advanced pattern formation, that is a Bat. Given the situation on the higher ...

Em4rk Em4rk PRO LTCUSD, 60, Long ,
LTCUSD: LTC going for the 80$
388 0 7
LTCUSD, 60 Long
LTC going for the 80$

LTC passed 60$ barrier and is going for the lower support level around the 53$ area. Target in 80$.

alexcrypto alexcrypto PRO BTCUSD, 60, Short ,
BTCUSD: Ichimoku cloud bearish entry - Short
170 1 6
BTCUSD, 60 Short
Ichimoku cloud bearish entry - Short

As per the chart a very high Reward to Risk ratio for this trade. Trade safely.

EL_CAPITAN EL_CAPITAN XRPUSD, 15,
XRPUSD: XRPUSD is at support, if it bounces target is ± $0.285
384 0 6
XRPUSD, 15
XRPUSD is at support, if it bounces target is ± $0.285

support line indicates XRP should bounce at $0.24. If it does, it could go to the upper part of a channel that has been established earlier. The channel has been exited twice, but seems to be valid still.

Roker1 Roker1 PRO GBPCHF, 60, Long ,
GBPCHF: GBPCHF long opportunity
76 0 7
GBPCHF, 60 Long
GBPCHF long opportunity

Hi guys, if you know my trading style you would know why am i looking at this pair: we're bouncing back from a previous daily structure and in doing so price created a sequence of higher highs higher lows giving us an additional signal upon our long bias. If you zoom in the chart you would notice a double bottom formation happened right inside that blue box that ...

cryptotraderspro cryptotraderspro CVCBTC, D, Long ,
CVCBTC: CVC
87 2 3
CVCBTC, D Long
CVC

Look what happened last time Civic was at these levels. This is the bottom support line. If it cracks, it heads to all time lows. This is the strongest support line on a chart and won't easily crack. Pretty crazy it had a full retracement of the original move, but USD price of it is nearly the same. I take this trade simply based on R/R. Your risk is the ...

K_Miyagi K_Miyagi XRPUSD, 240,
XRPUSD: Ripple - XRP USD - Possible Inverse Head and Shoulders
441 0 4
XRPUSD, 240
Ripple - XRP USD - Possible Inverse Head and Shoulders

Possible inverse head and shoulders formed on the 4hr chart There is also what appears to be a double top which might have put us in a potential throwback scenario so watch for a bounce off or break of the support line. In the case of a bounce expect a retest of 0.28 - 0.30 - If the support breaks it could fall down to wide channel of around 0.17- 0.23

AndyCharlotte AndyCharlotte GBPUSD, 240,
GBPUSD: Pound loses ground on lack of BOE hawkish tones
86 0 6
GBPUSD, 240
Pound loses ground on lack of BOE hawkish tones

A busy session for the pound with testimonies to lawmakers failing to impress the GBP bulls. The grilling of the two newbies Ramsden and Tenreyro brought cautious responses understandably and with Carney giving no further nod to a November rate hike we've seen GBPUSD fall to 1.3180 from 1.3285 When the trend be broke the market might make a run lower into the ...

AndyCharlotte AndyCharlotte BTCUSD, D, Long ,
BTCUSD: BTC/USD: Elliott Waves
218 0 5
BTCUSD, D Long
BTC/USD: Elliott Waves

elliott waves analysis for bitcoin. Here wave (4) correction is forming

ForecastCity ForecastCity PRO GBPUSD, 60, Short ,
GBPUSD: GBPUSD Intraday Forecast
136 0 5
GBPUSD, 60 Short
GBPUSD Intraday Forecast

FOLLOW US to HUNT with US by TREND HUNTER STRATEGY! As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3235. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=1.3155. TP4: S2=1.312. Set the stoploss of these orders at breakout of R2=1.3285. Stop and reverse: If trend gets ...

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