Get started

Resistance_level

CME Bitcoin Futures Breakout! 28,000 Next?From May12 - June 12, CME Bitcoin Futures saw a support level of ~28,000, which was broken on June 12 with a GAP lower. We have recently seen a CONSOLODATION PENNANT, formed with higher lows, and lower highs! Higher lows: ~18,500 June 30, ~18,830 July 13, ~20,700 July 26. The UPTREND line is drawn from ~18,830 to~20,700. Lower highs: ~24,300 July20, ~23350 July 22, ~23,000 July 27. The DOWNTREND line is drawn from all 3. The BREAKOUT occurred once the CME Bitcoin Futures broke through ~23,000! How to measure upside potential after a BREAKOUT of a PENNANT: Calculate the distance from the widest point, and add to the BREAKOUT point. This would give us ~28,800. Why is ~28,800 significant? THIS WOULD FILL THE GAP MADE ON JUNE 12! GAPS tend to be filled before a market makes a pivot! Takeaways: Previous SUPPORT of ~28,000 is now new RESISTANCE. This is going to be a difficult level to chew through! Possible STOP levels for longs: ~21,500 (continuation of UPTREND line of PENNANT. ~Uptrend will be violated if ~20,700 is broken with conviction. This would now be a lower low, which is the definition of a DOWNTREND. FEEL FREE TO REACH OUT WITH ANY TECHNICAL ANALSYS OR FUTURES QUESTIONS! WE APPRECIATE OUR FOLLOWERS! LIKE/COMMENT/FOLLOW! ❤️
CME:BTC1!Long
by Paul_Wankmueller
ZECUSDT is testing the weekly resistance The price is in the consolidation phase between the monthly and weekly resistance On the 4h timeframe the price had a breakout and retest the previous resistance as new support. how to approach it? IF the price is going to have a breakout from the weekly resistance and retest as new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
Zydus Lifescience testing Historic ResistanceZydus Life-science at important level of resistance, the stock took support from historical support zone and has consolidated the down fall with a good stretch of time. It has gone through a good accumulation and has made a good support base. now the stock has positioned itself to an up move after making series of higher lows from support zone. the stock has tested historical resistance multiple times during this consolidation. the stock has given an impressive quarter results beating the estimates. which is the catalyst for the movement. targets mentioned on the chart is based on fib levels taken from previous high to low levels. the volume popup is supporting the price action the stock may retest the B/O and a successful B/O will give a handsome gains with 1:1.4 risk reward. Tgt 2 is for a medium to long term view. this is not a call / recommendation. Please do your own research and drop your inputs in the comment section.
NSE:ZYDUSLIFELong
by harshith67
5
USDCAD Is Pointing Lower Within Wave C/3Hello traders, we have another important week for global markets as speculators are going to focus on CPI report from the United States, to see if prices are coming down or no. This data will be released on Wednesday, so until then we may not see a log of changes regarding the current trends. We see still stocks in a strong recovery mode with room for more upside while USD can see a sell-off, especially vs commodity currencies which are very strong. AUD, NZD and even CAD can see more upside, despite lower crude. But if crude would stabilize we think that USDCAD has a very good chance to break the support. From an Elliott wave perspective, we see three legs up, possibly already a completed correction on the intraday chart. Break below wave b swing near 1.2815 calls 1.27. Grega If you like what we do, then please like and share our idea! 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.
Short
by ew-forecast
4
BNB- Serious Resistance is NowClose to 319 Resistance (Fib level 0,61) it's ideal (to me) for a short position.. not to mention the flag which can bring volatility soon. At the same time check my previous posts/ideas for my other set-ups and most importantly look at this: Mondays are Red🩸 Ends are Weak💤 Yet we Rise✔️ We might as well have patience and yes: the market will most likely continue to rise but not on a straight line. DYOR and learn how to trade: it does pay out eventually. One Love, The FXPROFESSOR
by FX_Professor
1
Equities at Technical Resistance with BULL Market StructureDJ:DJI NASDAQ:NDX SP:SPX Equities have rallied in June 2022. However, here in the S&P500 chart we can see a patter that is true for all 3 equity indexes. All three indexes (DOW, SP500, NASDAQ) are at a technical resistance level. This means that it is at a price level that it previously attempted, but was unable to cross above. Let's consider that the price action AND RSI oscillator have been making prominent and consistent higher low and higher high which show that the current bull run is STRONG and backed by a bullish market structure. Now that the bullish market structure has carried the price all the way to technical resistance what will happen next? I see three possibilities (1=least likely, 3=most likely) #1. Backed by this strong bullish market structure, the price will close above technical resistance and form a new support level from that previous resistance level. This will also single a continuation to further growth in the markets and a possible end to this bear market. #2. Resistance level will stay the same, price will go down but still form a higher low. Price then rallies back up to the resistance level and proceeds the same as #1. #3. Resistance level will stay the same, price will go down all the way to the support level or even lower. Signaling a continued bear market. I will most definitely be on the lookout for how this level gets resolved.
SP:SPX
by jdm69
Bitcoin: market overview updateAs mentioned in our previous overview, there were 3 possible scenarios for market development. As we can see, 4 days later, the price is in the correction . This is scenario 2. This correction wave formed the new resistance level with the borders of $23,900 - $24,800. After the correction comes to an end, the buying opportunity will appear. It may happen even today. In this case the first target is that resistance, and if the market is strong, the price can move towards target #2 - the highs of June 7 - $31,965 - $31,400. If the correction continues, the market can move towards the nearest Daily support - $20,800 - $21,220. But the market is in the uptrend and we should look for buying opportunities.
BITSTAMP:BTCUSDLong
by JIexa1701
CME WTI Crude Oil Break Out After Fed Meeting? $101 Next Stop?Crude Oil Futures saw a high (~$123.00) on June 14, 2022, and have been retreating ever since. I am not in the fashion of calling bottoms, but there has been some nice consolidation over the past 2 weeks! July 14th saw a recent low (~$90.50), and we have not tested that area yet! Here is what the charts are telling me: 1. The downtrend line from that June 14 high is currently being tested as I type ($98.75) If this downtrend line is broken with conviction, the next stop is ~$101.00. This level was SUPPORT (July 7-12). This ~$101.00 SUPPORT level was broken and became RESISTANCE! CL tried to break this level on July 19, but couldn't do it. Here is the thing though! After it tested the ~$101.00 level on the 19th, it did NOT make a new low! In fact it stopped at ~$93.00 (Low was ~$90.50) Uptrends start with higher lows. We traded ~$99.00 yesterday, which coincides with that GIANT down trendline from a month ago. If we break these in the overnight session, ~$101 it is!. 2. MACD has positive divergence. What does this mean? The MACD made a higher low, as the CME WTI future traded lower. This basically means the downtrend is slowing down. 3. Upside targets after ~$101 Are: ~$103.00 (.382 Fibonacci Retracement from ~$123.00 - $~99.50) ~$105.33 (RESISTANCE from July 8) ~$106.86 (50% Fibonacci Retracement) ~110.72 (2 factors here! .618 Fibonacci Retracement AND Resistance from July 4!) This whole scenario is considered to fail if it breaks the up trendline formed from the low made on July 14, to the next higher low made on July 25 ~$93.00. CME Micro Futures are a great way to enter this positive risk/reward trade. FEEL FREE TO DM ME WITH ANY TECHNICAL ANALYSIS QUESTIONS YOU MAY HAVE! HAPPY TRADING! MACD Education: Developed by Gerald Appel in the late 1970’s Useful in trending markets because it is unbounded MACD Line = (12 period EMA - 26 period EMA ) Signal Line = 9 period EMA of MACD Line MACD Histogram = MACD Line - Signal Line Convergence occurs when the MA move towards each other. Divergence occurs when the MA move away from each other. Typically the 26 and 12 period EMA are used Oscillates above and below 0 When MACD is positive, the shorter average is above the longer term average Signals when it crosses from below to above the signal line Histogram was developed by Thomas Aspray in 1986 Signals MACD above or below signal line
NYMEX:CL1!Long
by Paul_Wankmueller