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Resistance_level

Tesla - Indecision with the triangleNASDAQ:TSLA has been consolidating for almost 4 years and is definitely ready for a breakout! +3.300% was the previous rally on Tesla which started back in 2019. But at the moment Tesla is not looking bullish whatsoever, considering that Tesla is trading at the same level as it was about four years ago. However, there is a long term descending triangle formation forming and therefore it is quite likely that we will (soon) see a breakout, either towards the upside or towards the downside. Levels to watch: $210, $120 Keep your long term vision, Philip - BasicTrading
NASDAQ:TSLALong
by basictradingtv
11
GOLD / XAUUSD UPDATE !!!!www.tradingview.com The gold market is currently in a holding pattern, with traders reluctant to make premature decisions due to upcoming significant news. A consolidation below the level of 2315 is observed. A false break of support has led the price to retest the 2310-2315 range, after which traders are pausing before the news release. All attention is focused on the forthcoming major events, namely the CPI and the Fed meeting. The key US CPI data will influence the Fed's stance on interest rates, which will, in turn, significantly affect the value of the US dollar and gold prices in the short term. The market anticipates neutral data (no change), which would likely maintain the same fundamental backdrop. However, the actual data is highly anticipated, especially after last Friday's unexpectedly high NFP. Any initial reaction to the US CPI data might be short-lived as gold traders will soon turn their attention to the FOMC & Fed meeting. Resistance levels are identified at 2315, 2325, and 2354, while support levels are found at 2305, 2291, and 2267. From both a technical and fundamental perspective, gold appears weak at the moment. Amidst high volatility, the price may attempt to breach 2325 and test the liquidity zone of 2335-2345, then transition to a decline phase if the fundamental backdrop is conducive. The risk of further decline remains substantial, but the upcoming news could either exacerbate this decline or disrupt the market structure.
EIGHTCAP:XAUUSD
by Goldxking
Nvidia - Still a correction?Hello Traders and Investors, today I will take a look at Nvidia . -------- Explanation of my video analysis: Over the course of the past seven years, Nvidia stock has been trading in a pretty obvious rising channel formation. As we are speaking, Nvidia stock is approaching once again the upper resisance trendline. However this does not mean that we will see an immediate correction of -50%; it is rather important to monitor price action and wait for the right opportunity. -------- Keep your long term vision, Philip (BasicTrading)
NASDAQ:NVDAShort
by basictradingtv
26
AUD/USD Bears In ControlWhile the AUD/USD shows signs of trending higher on the daily chart – a series of higher highs and higher lows have been seen since $0.6362 – the unit recently connected with resistance at $0.6659, a move bolstered by the monthly chart linking with the upper boundary of a potential bearish pennant formation, drawn from a high of $0.7158 and a low of $0.6170. Coupled with the above analysis and the Relative Strength Index (RSI) holding south of the 50.00 centreline on the monthly chart and daily flow also poised to break through the 50.00 centreline, this could prompt further selling in the currency pair towards the 200-day and 50-day SMA combination between $0.6528 and $0.6560.
Short
by FPMarkets
Binance Coin - Is the rally already over?Hello Traders and Investors, today I will take a look at Binance Coin . -------- Explanation of my video analysis: Binance Coin is currently clearly retesting a major resistance at the previous $700 level which was also the all time high of Binance Coin. Since we did not see a break above yet, there is simply a higher chance that we will see a (short term) move lower. If you are not in a position on BNB yet, you can potentially use this anticipated drop to enter a fresh trade. -------- Keep your long term vision, Philip (BasicTrading)
BINANCE:BNBUSDLong
by basictradingtv
3
GBPUSD at Resistance zoneThe trendline has been a significant price barrier, having been rejected multiple times before. It is probable that price will be rejected once again. Search for a selling opportunity and aim to profit at the lower support level. Look for confirmation signals such as bearish candlestick patterns or a decrease in buying volume to strengthen the selling opportunity. Keep a close eye on the price action as it approaches the lower support level for potential exit points. Remember to manage risk carefully and consider setting stop-loss orders to protect your capital in case the trade goes against you.
Short
by LeoDante_FX
3rd try at breaking through long-term resistanceGold is showing a classic long-term cup and handle period. Spent about 7 years in the "cup" (long shakeout period from the bubble that had formed after the last financial crisis followed by an eventual rally to previous all-time high). It has spent over 2 years now in the "handle" (period of consolidation giving the appearance that price can't break through the previous all-time high). After a recent shakeout and false breakdown from the handle pattern, it looks like it wants to test the all-time high again and this time there's a major catalyst (flight to safety due to all the uncertainty recently with the banks and the potential for yet another financial crisis). Due to that, I don't think you need to wait for a breakout of the all-time highs around $195 in GLD but that would be a safer entry (a monthly close above that level). Of course another shakeout from that level could follow because if I have picked up on this potential trade, then many others likely have also. Anyway, I am just speculating and not a financial advisor, if you decide to follow this please trade at your own risk and diversify (this trade won't break the bank for me personally if it doesn't work out and it shouldn't for you either).
AMEX:GLDLong
by PatientContrarian
NZDUSD sell setupNZDUSD is in a downward trend channel. This suggests that the New Zealand dollar is weaker than the US dollar. Price has recently showed some rejection at the top of the channel therefore we are looking to sell. The Take Profits target should be 0.58807 .We will set our Stop Loss at 0.60400 to manage risk in case the price reverses. It is important to closely monitor the trade and adjust the Stop Loss as needed to protect profits. Trading in the direction of the trend channel can help increase the probability of a successful trade.
Short
by LeoDante_FX
Support and Resistance levelsSupport and resistance levels, the bedrock of technical analysis, are fundamental elements. They serve as critical points that delineate potential price movements and are pivotal in decision-making processes for traders and investors alike The basis: There are several fundamental concepts in trading that remain the same over a long period of time. Among them, the concepts of support and resistance levels stand out. When used correctly, support and resistance levels improve trading efficiency in financial markets. Today we will delve deeper into these concepts. Price behavior: The fundamental principle of price behavior lies in the concept of supply and demand, governing the existence and operation of any market. When demand outweighs supply, it prompts an upward push in prices, while in reverse circumstances, a decrease is observed. By identifying levels of supply and demand, traders significantly enhance their success rate. A support level indicates a price range where strong buying positions are concentrated, typically defined by two minimum price points. A resistance level, conversely, denotes a price range around which strong selling positions are clustered, often marked by two maximum price points. It's important to note that support and resistance levels should not be viewed as precise lines. Prices may not necessarily adhere to these levels point by point; often, they may not even touch the level directly, sometimes piercing through it. This variability is normal, so these levels should be perceived more as zones of support and resistance. The width of these zones can vary, with the magnitude of dispersion dependent on the timeframe in which trading occurs. The higher the timeframe, the potentially broader the range of support and resistance levels. Once again for strengthening: Support and resistance levels represent specific price ranges on a chart (often represented by rectangles in my analysis) where the direction of price movement has historically changed. These ranges attract traders' attention because they provide clear points for setting stop losses and entering trades. In addition, these levels usually attract large buyers or sellers whose limit orders contribute to market dynamics. Essentially, the level denotes the price area in the market where traders perceive the price to be either overpriced or underpriced, depending on the prevailing market conditions. Therefore, it is extremely important to closely monitor key levels where the role of support and resistance has changed or where significant price reversals have occurred. Blending levels signify pivotal points on a price chart where price action can prompt a reversal in the opposite direction. In the presence of a robust trend, price movements may penetrate through these supply and demand levels, leading to potential shifts in direction. Such occurrences typically coincide with heightened transaction volumes. The interplay of price adjustments, heightened market activity, and trading volumes collectively influence market direction. When resistance is breached and the price retraces to its previous level, there's a likelihood that bulls will once again push it upwards. Conversely, if the price retraces to the breached level after breaking through support, bears are likely to actively drive it downwards. Support and resistance levels can be identified as areas in the market where traders are more inclined to buy or sell, depending on current market conditions. This creates a zone of collision between buyers and sellers, often prompting the market to change its direction. Retest: A retest of a level refers to a brief return of the price to the breached support or resistance line for testing purposes. Following the retest, the price typically continues its movement in the direction of the breakout. On higher time frames, support and resistance levels become more powerful: It is important to observe the price action around levels: If the price swiftly reverses from a level into the opposite trend, it indicates significant importance of that level. If the price tests a specific area multiple times with minor retracements, it's likely that the level will eventually be breached. Swing zones refer to areas where the price retraces to the previous pullback in either a downtrend or uptrend. In less robust trends, the price tends to return to the boundary of the previous correction before continuing its movement. Of course, support and resistance are dynamic concepts that require constant attention and analysis as their meaning changes depending on prevailing market conditions. Moreover, it is critical to consider multiple confirmations such as volume analysis and breakouts to confirm the strength of these levels. Thank you for your attention!
Education
by truepersonal
26