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Resistances

Bitcoin S&RSupport & Resistance : - When the two prices meet, consolidation between support and resistance. - Called support and resistance reversal happens. - A key concept of technical analysis is that when a resistance or support level is broken, its role is reversed. - If the price falls below a support level, that level will become resistance. If the price rises above a resistance level, it will often become support. - So you got the idea, trading is magic. - Always keep in mind all scenarios. - Sometimes just watch and don't gamble! Happy Tr4Ding !
COINBASE:BTCUSD
by thecryer
8
BTC Short-Term Review 1HHello everyone, let's take a look at the BTC to USDT chart taking into account the one hour interval. As you can see, the price is moving above the local uptrend line. After unfolding the FIb Retracement grid, we see that the price remains just above the support zone from $28,735 to $28,607, and then we have the second zone from $28,403 to $28,256. Looking the other way, we see a strong resistance zone from $28,885 to $29,106, only when we go above it can we see an increase to the resistance level of $29,743. Looking at the CHOP indicator, we see that the energy has been used, while the RSI indicator and the STOCH indicator show a movement at the upper limit of the range, which resulted in a slowdown in growth and may result in a price recovery.
by cryptodailyuk
1
Retesting Previous High, Potential Shorting OpportunityWe've identified a potential opportunity for counter-trend traders in the form of a Bearish Fib-3 Bat Pattern completion on the Weekly Chart. This could be a great chance for traders to engage in the trade and make a profit. However, we understand that the initial stop may be too large for some traders to handle. That's why we suggest waiting for the setup to form on the lower time-frame, such as the 1-hourly chart, for a shorting opportunity. You could wait for a retest at 149.44 for a shorting opportunity. The initial Stop-Loss at 149.74 (-30pips) or approx. -300usd/lot. Target1 could be at 148.76 (+68pips) or approx. +680usd/lot. But keep in mind that it's always important to plan your trade and not follow any trader blindly. We encourage you to have a solid plan in place before making any trades.
Short
by RaynLim
📈 AUDJPY: Watch This Textbook Bullish Flag Breakout!Full-time trader. Follow for more free tips & like/ share this idea. Thanks in advance! Bullish flags typically typically show some profit-taking after a strong uptrend without any violent selloffs. The pole needs to have an impulsive and violent move upwards. The breakout from the flag should be followed by a volume spike. This is exactly what we have on the FX:AUDJPY Watch how this plays out in the next few weeks. Learn from it, then do it again on another pair. Possible max target at 101. Of course, like with any currency or stock, expect bumps and dips along the way. Look for higher lows which would void the bullish flag. First resistance break (see chart) should cause an impulsive move upwards, as many traders will spot the pattern and FOMO into it. The lower timeframe shows a nice trend forming. This strong trend can help break resistance faster than expected: If you don't have experience trading this pattern, it's better to sit this one out and watch it unfold and take notes. If you trade stocks, you'll love our community. Link below!
Long
by kingdips
$AAPL: Top or Not?Is this a top or just a sideways correction to pattern out excessive price gains that are above current fundamentals? This is the big question when studying stocks right now. NASDAQ:AAPL is definitely not a sideways trend right at the moment, but is it a downside run after a top? What is missing? There are 2 lower highs BUT just ONE lower low. To confirm a Top, you need the second lower low. AAPL doesn't have 2 lower lows at this time. The recent low is slightly higher than the previous first low. So selling short has high risk for AAPL at this time. Resistance for swing trades is at the red lines, which are the highs of each minor gap down.
NASDAQ:AAPL
by MarthaStokesCMT-TechniTrader
GBP/USD Analysis - A Patient Approach to TradingWhen it comes to trading GBP/USD, a well-thought-out strategy can make all the difference. In this analysis, we'll discuss a potential trade setup that involves retesting a support line and aiming for a resistance line. Remember, patience is key in trading, and risk management is crucial for long-term success. Support Retest: The first step in our analysis is identifying a retester support line. Currently, we are looking for a pullback that could potentially retest the support line at 1.24900. This retracement is a crucial phase in our trade setup. Entry Points: Once we observe the price reaching the support line at 1.24900, we can start looking for entry points. Timing is essential here. Keep a close eye on the price action, and consider using technical indicators or patterns to confirm the entry. Be cautious not to rush into the trade; wait for a clear confirmation signal. Take Profit Levels: For our trade, we have two take profit (TP) levels: TP1: 1.25430 TP2: 1.25760 These levels are where we anticipate the price may encounter resistance. It's crucial to have multiple TP levels in your strategy to secure profits along the way. Stop Loss: To manage risk, we should always have a stop-loss (SL) in place. For this trade setup, we recommend setting the SL at 1.24730. This level should protect your capital if the trade goes against you. Risk Management: Remember that money management is the cornerstone of successful trading. In this analysis, we recommend risking no more than 1% of your trading capital on this trade. This conservative approach helps preserve your account in case of unfavorable market movements. In summary, trading GBP/USD requires patience and a well-defined strategy. By waiting for the support retest at 1.24900 and carefully selecting entry points, along with setting appropriate take profit and stop-loss levels, you can increase your chances of a successful trade. Remember to stick to your risk management plan to protect your capital and maintain a disciplined approach to trading.
Long
by Ju5ke
NASDAQ continues the reaction from last FridaySKILLING:NASDAQ has started the week with a nice continuation from last Friday. However, we have two important resistances ahead of us. One is 14840 which is the weekly pivot point. The price should first establish a base above it. Then, we can see an attack to the stronger resistance around 15000, which was the point that we saw a big break-down. Clearing these resistance would make the trend bullish again. Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
U
by WhaleGambit
Current Pull-Back: A Perspective Using NASDAQ 100 WeeklyCME_MINI:NQ1! has had the sharpest pullback in last couple of weeks. The Semiconductor Industry NASDAQ:SOXX has been the largest driver in this selloffs. In this Trend Analysis, I tried to draw a perspective as to how deep this pullback could be given Support and Resistance areas that stood the test of time in recent years. I used Weekly chart to gain a broader perspective of where the index will end up in coming months. It is easy to establish that the TOP of the Current Rally (~16,100), i.e., the Resistance has been determined by the Start of the Recent Bear Market in 2022. Which technically started with the collapse of the Post Pandemic Rally in early January, 2022. This is the most important Control Level that the current market needs to break for a further rally in the future. The Bear Market in 2022 was strictly bound by the Wedge Resistance as we can see. The same phenomenon can also be shown by simply drawing an Anchored VWAP from the All Time High. Throughout the course of the Bear Trend CME_MINI:NQ1! could not break above the AVWAP. After the market established a bottom between October and December of 2022, it finally broke above the Wedge in the last week of January, 2023. We can call this the beginning of the current Bull Market. NASDAQ eventually broke the AVWAP in the last week of March 2023 to further confirm the Bull Trend. The AVWAP has worked as a Support Level since then until the market boosted up in May. Now coming back to the Current Pull-back, It is not hard to identify that there is a possible Support Area at the bottom of the range (~14,775) which the Current Bull Trend has established. If this Support Level is held then the projected size of the pullback from the top will be approximately 8.0 %. Current price action has confirmed a breach of the Short Term EMA cloud in the Weekly chart. In the Daily chart it came down below the 50 day Moving Average which indicates Short Term bearish tendency. If CME_MINI:NQ1! doesn't take support at the Range Bottom, then we could think of the Long Term EMA cloud as secondary Support Area. The next Support Area could be the AVWAP from ATH. For now, there is no reason to believe that there will be a lingering pull-back in the market going forward to start another Bear Market. Our best "hope" is that the market will take support and continue the Bull Trend in coming months. Please note that historically, in Pre-election years, August and September had been the most bearish months. This write-up is solely based on Technical and Trend Analysis to figure out the best case scenario. Thanks for Reading!
CME_MINI:NQ1!Long
by Trading-Economist
6
My trading tactic and journal XAUUSDI place limit short selling order at the resistance level because i think at the end of this month the price of gold will close at the lower price in order to rebound next month (September) therefore, i am bearish on gold from today 10 Jul until at the end of this month. Example of grid trading I place limit sell order at 1930$ and STOPLOSS at 1960$ Target 1900$ risk 30$ reward 30$ I place buy limit oder at 1893 and STOPLOSS at 1860$ Target 1940$ my second order is at 1940$ / STOPLOSS at 1972$ Target 1900$ (0.618 fibonacci retracement resistance level) risk 32$ x 2 = 64$ reward 72$ x 2 = 144$ My third order is at 1952 / Stoploss at 1972$ Target 1900$ (0.782 fibonacci retracement resistance level) risk 20$ x 3 = 60$ reward 52$ x 3 = 156$
OANDA:XAUUSDShort
by kennkennntl
ATOM/USDT 4H Interval ReviewHello everyone, I invite you to review the ATOM chart in pair to USDT, like its predecessor on the four-hour interval. First, we will use the blue lines to mark the downtrend channel in which the price is moving. Going further, we can move on to selecting support places, for this we will use the trend based fib extension tool. And here we will mark a significant support zone from $8.16 to $6.91, however, when the zone does not hold the price, we can see a drop around the second very strong zone from $5.90 to $4.91. Looking the other way, we see that the price is moving towards an important resistance zone from $10.54 to $11.37. If it manages to break out of this zone upwards, the price will move towards a strong resistance at $12.56 and further to the resistance at $14.05. Please look at the CHOP index, which indicates that the energy for the moment is used, the MACD indicates that we are moving in a local downtrend, while the RSI has a significant rebound to the lower part of the range, which may give a change in the trend in the coming hours.
by cryptodailyuk