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Resistance_zone

Final Destination? FET/BTC #FetchAI $FET #FETHere we see our FET weekly chart and you can see it looks great, we are already wicking into the Weekly Ichimoku cloud. See that red dotted line ? With the orange arrow pointing at it ? That's our last Weekly resistance and looks like it's a target we could be seeing soon . If we are entering a small altseason for the next month then this resistance line near 3231 could definitely be a target .It is also right near our .236 fib at 3420 . I would definitely love to see FET go to at least between 3200 to 3400 by mid April but it's impossible to predict a timeframe there . All I can say is we look great to have continuation- first stop is still our previous high from last summer of 1550 .
by shimmeringpath
EW Analysis: ETHUSD May Face Strong ResistanceHello traders! Today we will talk about Ethereum (ETHUSD), its price action from technical point of view and wave structure from Elliott Wave perspective. Well, BTC is in a massive rise but this is mainly because of BTC.Dominance, which is after a long time, finally back in the game and it can be just the beginning of a new cycle. That's why ALTcoins, such as ETH and others are in a slow recovery mode, which we see it as a correction. As you can see, ETHUSD has slow and corrective (a)-(b)-(c) structure in wave "b" and it's right now approaching strong 400-420 resistance area around that resistance line of a corrective channel and important 50%- 61,8% Fibonacci retracement. So, watch out at this stage, because wave (c) can be forming a potential ending diagonal and we know how powerful wedge patterns are. If we are on the right path and ETH turns sharply and impulsively down from projected resistance zone, then it could be easily headed even lower as part of a deeper a-b-c correction down to 255 - 215 support zone. Good luck and trade well! If you like what we do, then please support us with a like and share! 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.
BITSTAMP:ETHUSD
by ew-forecast
5
How To Drow Propper Support & Resistance Support & resistance is really something that works in all financial markets, it's worth studying how to determine the proper way to finding and drawing it to be able to find the best trades possible available in any given time. I use support & Resistance to find direction, (you can find it on any time frame), The way this works is you connect highs and lows, as you can see in the picture above, you must have at least 2 touches, and of course the more you have the stronger it is, Imagine for example a Floor and a Ceiling. Support is like the floor and Resistance is like the ceiling. what you do before you want to step on a new build floor, how do you know if the floor is strong enough before you step on it, what you do is you obviously step on it once and twice and the more you step on it and the more weight you put on it you gain more and more confident that its strong enough, and the same goes with the ceiling if you punch it once and twice and the ceiling doesn't break you know its a strong ceiling. The same goes in trading when you see the market has hit the same price point 2-3 times you know its a strong point where it's really hard for the market to break through it, it must take a massive amount of effort to break through it, And this you can actually monitor with Volume, How volume works is a whole new thing for itself to explain so I will do another one on Volume or you can check my recents post where I had live trades based on volume and support and resistance. Keep in mind that support and resistance can be determined in any angle as you see on the resistance from the picture above. I hope You Learned A Lot From This I tried Breaking It Down The Simplest Possible For You To Be Able To Understand, But If You Still Have Questions How This Works Don't Be Afraid To Massage Me. Enjoy Your Trading Journey.
by ElyaStein
Support and Resistance breakout box (Prototype)Pretty self explanatory, uses simple support and resistance as well as time resistance which influences the box's size. The time resistance zone is an area that we should see either a strong move, reversal, or even breakout. Either way this should be an interesting experiment. We can honestly go either way, up because a golden cross looks to be occurring on the 4h, down because we got rejected off of resistance. Personally, I predict we'll break downward back the weekly 200MA or lower.
by Kinaibhlan