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Resistances

Support and ResistanceIn a strong trending market like GAS currently in, support and resistance flip happens very often. Although other chart setups might not be as clean as this example, this technique can be used for all markets. Broken Support turns into Resistance. Broken Resistance turns into Support. So how do we determine if a Support has been broken or not? 3 ways to view it: - A lower low (Even if it is just a wick) - A lower close (Candle must close below previous candle close) - Safe - Candle close through previous low - Safest Personally, i prefer to used the safest method to view my support and resistance. There are many nuances to trading support and resistance, try them out yourself and see what works for you! Safe trading out there!
OANDA:NATGASUSDEducation
by FX20
#bitcoin - "H1" Target 1 hit, D-R2 new SupportAfter BTC managed to pick up the Weekly Pivot, the Daily R2 is new support, whilst R3 could not be reached yet simply cause it found some resistance at the break-out level to go for a bullish higher-high, that comes from the "H6" where the Adam and Eve is still on track, picking up some volume. $10k important psychological border. A little retrace would be expected. We are not out of the woods yet. ___________________________ Warm regards, Neru
BITSTAMP:BTCUSD
by Gl4diator
BEARISH WOLFE WAVE USDCHF, RISKREWARD 1:20,WAIT FOR IMPULSE DOWNI FOUND A NICE BEARISH WOLFE WAVE AGAIN. IF YOU FOLLOW ME, YOU KNOW I LIKE WOLFE WAVES AND INTRODUCE LIKELY WOLFE WAVES. IN THIS EXAMPLE I SUPPOSE YOU TO TRADE A NICE BEARISH WOLFE WAVE. YOU SHOULD ONLY TRADE, IF BAR SHOWS AN IMPULSE DOWN AND BREAK THE LINE BETWEEN 1,3 AND 5. IN ADDITION, THE GREATER CHART BEHIND DAILY CHART SHOWS A BIG CORRECTION WAVE. THIS CORRECTION HAD ALLREADY BUILD AN RESISTANCE LINE - I PAINT IT IN YELLOW SHAPE.
Short
by NXT2017
Oil Analysis - Consolidation AreaHi there. Here are my thoughts for oil movements : - Crude Oil is on a bull run since December 26th, 2018. The 3rd rotation (Pullback < 20%) seemed to have failed. Moreover, the bullish momentum is still present and we might experience a long run continuation at key levels. The average daily volume traded is 150K contracts and has been constant since the bull run : Since no significant price action is noticeable, there is a strong consolidation phase. In fact, the daily chart displays a bull flag with a clear support and resistance area. Nonetheless, a break out can still occur. There is a strong resistance at 57.000 - 57.500. Yesterday March 07, we opened two long positions with one still active (The other hit the stop loss). We are bullish and eager to go long at another test of support. - Likely support levels would be 55.700, 55.550 and 55.400. - 3 attempts should be the maximum. - 10 pips of stop loss with a spread of 5 pips giving a total of 15 pips stop. - If the support Zone is not broken, prices might reach back 57.000 -57.500. - Since we are in a consolidation phase we might expect a lot of sideways movements unless we break the major Support Zone. Feel free to comment or give ideas. Succesful trading!
OANDA:WTICOUSDLong
by Theperfectionist
Road to 5k or just a lower high? BTCAfter a strong impulse to the upside from 3100s, with no deeper pullbacks, the price is now consolidating in a symmetrical triangle structure. Symmetrical triangles are usually continuation patterns. When this pattern forms during a downtrend, it has 57% probability to break to the downside and continue the previous movement (we've seen a few of those play out well over the past weeks). When it forms during an uptrend (and we have a local uptrend here), it has a 63% probability of breaking to the upside and continuing the uptrend for another push. These odds are still too unpredictable, which is why unless we're in a trade from before, it makes more sense to wait for a breakout on either side, and then look to position ourselves for a trade in that direction for a more reliable move. The price is currently under a major resistance zone at 4365-4440. Bullish momentum is supported by 3780 area. As long as the price stays above it, I see more upside and more attempts to push higher (and potentially succeeding to break 4160 towards 4365-4400). Breaking 4440 on the daily timeframe and confirming it as a support will lead the price towards 5k. Failing to hold 3780 is likely to result in a deeper pullback to 3656 and 3560-3476 zone which will add uncertainty to the bullish argument (but still not kill it). Closing candles below 3560-3476 area will kill the bullish scenario and turn this into a range at best (which means retesting the lows at 3250) and bearish continuation towards new lows in the worst case scenario. Any speculative buys from 3925-3880 area must have a stop loss below 3780 (in case you feel like a more agressive trader and want to go in here). The rest of the targets, both to the upside and to the downside are marked on the chart. This chart can be used for scalping, swing trading and finding potential take-profit targets or buy areas (depending on which way this triangle breaks out). Short-term bias: bullish as long as 3780 holds. Medium-term bias: bullish only if 4400 is taken out and confirmed as support on the daily timeframe (will look for 5k in that case). Otherwise, it will simply print a lower low (if 4160 was the top) and is likely to fall again. Medium-long-term bias: Anything below 6400 is still a full-on bear market and all the relief reallies are better sold/shorted than "hodling" and hoping for 20k, no matter how euphoric people become after a week of green across the board (unless you're investing with a 5 year-horizon, in that case this doesn't apply to you).
BITMEX:BTCUSD.P
by eyupium
2
BTC USDT BINANCE Quick UpdateAfter experiencing a good sell off over the last few days BTC is at the bottom region of it's low volatility channel attempting to rally and reclaim 6400. With several indicators pointing towards an upward momentum coming to the table we are looking to break 6400 and hold above that before going sideways. There is still massive pressure to keep the price suppressed on BTC, lots of sellers holding orders above our heads keeping us in this channel. That is okay. We are in a great position for BTC to keep going sideways where it's at. Lets look towards a push to hold 6400 and watch how the market reacts as the selling orders try to drops us back down. With the potential breakout on the C.M.F and the D.M.I showing a phase of DMI + increase emerging we are looking ripe for some decent price action.
Long
by Altcoin_Ninjas
BTC Strategy October 24thBTC Strategy We can see the beginning of training in double bottom expanded on the BTC/USDT in 4h time horizon. If this figure is materialized by a break of the resistance at $6650, a buying position can then be initiated in order to target the $6715 initially and the resistance at $6800 thereafter. Summary of the strategy Buy: confirmed breakage of the resistance at $6650 T1 : $6715 T2 : $6800 Stop : $6610 after the breaking of the resistance For more strategy like this, join us on www.crypto-addicts.com
Long
by Arnaudcrypto
Support&ResistanceI was published an educational document about trend and channels before cos trend is most important thing for traders imo, now i’d like to talk about support and resistance.. - Once you see trend or a channel than you should see where is support/resistance to take a position. - No matter how good trader you are and no matter which tools you use, the main idea; buy at the support and sell at the resistance and stop loss under the support. - On the chart i touch on some common chart patterns i use and grey boxes shows supports and resistances.. - As you see the thing, for all these patterns, you can take a position with broken support or resistance. before necklines break, these patterns mean nothing. - Another important thing is, once support/resistance broken, waiting for a retest to buy is safer way to trade..
by blackofcrypto
Will BITCOIN HOLD ON? IF IT BREAKS MAJOR RESISTANCE -Bull?Hello Followers, Bitcoin is still hovering above its long-term support at 6k, and has consolidated inside a short-term symmetrical triangle, as you already know, we do not believe on rigid analysis, once we use a different technical analysis, moving water. Even though, we have to consider some formations because many people do use it, and sometimes, those formations work. So, if Bitcoin breaks below the bottom of the triangle, there should be a test of the key support area while a break higher could signal that bulls are returning. The 100 SMA is below the longer-term 200 SMA on this time frame to indicate that the path of least resistance is to the downside. In other words, the selloff is more likely to resume than to reverse. Also, the 100 SMA appears to be holding as dynamic resistance since it lines up with the top of the triangle. The gap between the moving averages is also widening to signal strengthening selling pressure. RSI is pointing up to show that there’s some bullish pressure left, but the oscillator is nearing overbought levels to reflect exhaustion. Similarly stochastic is heading higher so bitcoin might follow suit but is also nearing overbought territory. The overall correction sentiment is to the upside, but is it really possible for BTC/USD to hold there, and retain its upside dreams in near-term. The BTC/USD in long-term is inside a giant descending triangle, with its base support near the Bitcoin’s 2018-bottom near 5800. Not a surprise if the pair extends its prevailing bearish momentum and restest the lower trendline support. A potential rebound from any support at this point could also have BTC/USD test the channel resistance in medium-term. Overall, the pair seems to be locked inside it, awaiting breakdown/breakout. The bias sentiment is more inclined towards bears. BTC/USD is already trending below its 50-, 100- and 200-H moving averages. The head of the 50H MA is also looking to crawl below its 100H MA, which indicates a medium-term bearish action in the market. The RSI and Stochastic indicators are also inside strong selling sentiment areas, awaiting an upside rebound. We are forming a symmetric triangle on hourly BTC/USD chart. The stiff sideways action is enabling us to follow a wait-and-watch approach until there is a definite breakout/breakdown to indicate the trend for the rest of the day. In simple words, if BTC/USD breaks above the channel resistance, we will be putting our long positions towards the upside targets. And if BTC/USD breaks below the channel support, we will be putting our short positions towards the downside targets. A break below this key $6,000 region could set off an even longer-term selloff as it would place bitcoin below its lowest levels in a year. This might also indicate that several bulls are giving up on their expected rebound for bitcoin before the year comes to a close. News that the SEC suspended trading of two crypto-based securities wasn’t the best way to start the week for bitcoin and its peers. This dampens hopes of an approval in bitcoin ETF applications as the regulator could cite similar concerns. Ethereum co-founder Vitalik Buterin noted that there is no chance that the cryptocurrency and blockchain space will see one thousand XXX Growth. In the other hand, Winklevoss twins finally scored a victory when their fiat-based stablecoin proposal got an approval from the New York Department of Financial Services. Good Luck and Good Profits
BITFINEX:BTCUSDLong
by EDWARDCASHTRADER
20
GBPUSD ONLY INTRADAY BULLISH ABOVE 1.3270The British pound has moved towards the top end of its recent short-term trading-range against the US dollar, as the greenback moves lower in early week trading. The GBPUSD pair continues to probe towards the 1.3300 level, but has so failed to gain traction above this key level. Buyers will need to break the former weekly high of 1.3313 to keep the bullish upside momentum intact, while sellers will look for continued technical failure below 1.3300 level. The GBPUSD pair is only intraday bullish while trading above the 1.3300 level, key technical resistance is now located at the 1.3313 and 1.3349 levels. If the GBPUSD pair moves below the 1.3270 level, key technical support can be found at the 1.3240 and 1.3215 levels.
Long
by OctaFX_Official