Srosh
GOLD (Try to up...!) 6H GOLD - 4H
Gold will try to reach 1735 again and then will try to reach 1745 also
1745 is an important point if can stable above it it is possible to reach 1765 because have a strong pressure to up
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but if the price can break 1699 and stable under it will drop to 1681
USNAS100 12H (it looks upward above 12320) USNAS100
today will try to reach start upward from 12320 or 12250 to get 12550 & 12670 & 12891
and also between (12500 - 12550) is a strong resistance zone, it is possible to stay above it to reach 12670 & 12880
but if the close candle is under 12250 then will be bearish and will reach 12060
S&P 500 INDEX 12H (Uptrend) SPx
the price is now in the bullish zone because can be stable above 3957
the next movement will try to reach 3979 then 4021 then will do some retest
but also it is possible to reach 3932 and then do an uptrend
in the other case if a break 3928 will reach 3905 then if break 3905 also after that will be bearish
US30 10H (Uptrend)#US30 (4H & 10H & 12H & 1D)
Now the price will move between 31770 - 31970
if breaks 31970 will reach 32260 because have a strong pressure to up,
then will move to trend up
but if break 31770 to down will try to reach 31550
so generally has a bullish direction but be careful about some retests to down
EURUSD 4H (More up above 1.0150)Now from here will try to get 1.0240
and if break 1.0240 will reach 1.0350
but if this candle reverse under 1.0148 then will retest 1.0093
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EURUSD 4H
the price can be stable inside the channel
so now all the pressure is to up
now will reach 1.0093 then 1.01485
and if breaks 1.01485 the price will reach 1.0350
USNAS100 -12H USNAS100
now the price will try to break the channel
and it tries to be stable in the upward zone
so if the price breaks 12070 will reach 12240 and if breaks 12240 also then will reach 12500
but if can be stable inside the channel and especially if breaks 11830 it is possible to go more down
GOLD - 12H (Parallel channel to up) GOLD - 12H
Depending on the trend channel, it is possible to start upward from there to get 1724 & 1745 & 1765
but if the price can break 1699 and stable under it will drop to 1681
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The green line represents the upward (resistance line)
The Red line represents the Downward (support line)
A white line is a pivot line
US30 12H (Outlook of this week ) For this week
(4H, 6H, 12H, 1D)
the price will try to break the green zone to see the clear direction
so
1) if break green zone 31620 the direction will be bullish because will break the strong trend also, and will try to reach 31920 & 32180 & 32440
2) second scenario if the price can break 31200 and can stable under it then will reach 30940 &30500
US30 10H (Bullish Zone) after reverseUS30
After breaking the resistance line at 30844 the general direction of US30 is Bullish because can be stable above it
and now for the next week, it will try to get more bullish
and the first movement it is possible to reverse near 31250 and then again will try to get upward again
US30 1D (Strong support ZONE)Dow Jones after a strong dropping to reach near the Covid-19 setback, so now the price reach it and now will try to stable in the right direction by breaking the support zone for this week
generally for this week above 30340 will be bullish
under 29640 will be bearish
Support and Resistance Basics + Trend LinesSupport and Resistance Basics:
The concepts of trading level Support and resistance are undoubtedly two of the most highly discussed attributes of technical analysis .
As part of analyzing chart patterns, these terms are used by traders to refer to price levels on charts that tend to act as barriers, preventing the price of an asset from getting pushed in a certain direction.
At first, the explanation and idea behind identifying these levels seem easy, but as you'll find out, support and resistance can come in various forms, and the concept is more difficult to master than it first appears.
KEY TAKEAWAYS:
1-Technical analysts use support and resistance levels to identify price points on a chart where the probabilities favor a pause or reversal of a prevailing trend.
2-Support occurs where a downtrend is expected to pause due to a concentration of demand.
3-Resistance occurs where an uptrend is expected to pause temporarily, due to a concentration of supply.
4-Market psychology plays a major role as traders and investors remember the past and react to changing conditions to anticipate future market movements.
5-Support and resistance areas can be identified on charts using trendlines and moving averages.
Support and Resistance Defined
Support is a price level where a downtrend can be expected to pause due to a concentration of demand or buying interest. As the price of assets or securities drops, demand for the shares increases, thus forming the support line. Meanwhile, resistance zones arise due to selling interest when prices have increased.
Once an area or "zone" of support or resistance has been identified, those price levels can serve as potential entry or exit points because, as a price reaches a point of support or resistance, it will do one of two things—bounce back away from the support or resistance level, or violate the price level and continue in its direction—until it hits the next support or resistance level.
The timing of some trades is based on the belief that support and resistance zones will not be broken. Whether the price is halted by the support or resistance level, or it breaks through, traders can "bet" on the direction and can quickly determine if they are correct. If the price moves in the wrong direction, the position can be closed at a small loss. If the price moves in the right direction, however, the move may be substantial.
Trendlines:
The examples above show a constant level prevents an asset's price from moving higher or lower. This static barrier is one of the most popular forms of support/resistance, but the price of financial assets generally trends upward or downward, so it is not uncommon to see these price barriers change over time. This is why the concepts of trending and trendlines are important when learning about support and resistance .
When the market is trending to the upside, resistance levels are formed as the price action slows and starts to move back toward the trendline. This occurs as a result of profit-taking or near-term uncertainty for a particular issue or sector. The resulting price action undergoes a "plateau" effect, or a slight drop-off in stock price, creating a short-term top.
Many traders will pay close attention to the price of a security as it falls toward the broader support of the trendline because, historically, this has been an area that has prevented the price of the asset from moving substantially lower. For example, as you can see from the chart above, a trendline can provide support for an asset for several years. In this case, notice how the trendline propped up the price of Newmont's shares for an extended period of time.
On the other hand, when the market is trending to the downside, traders will watch for a series of declining peaks and will attempt to connect these peaks together with a trendline. When the price approaches the trendline, most traders will watch for the asset to encounter selling pressure and may consider entering a short position because this is an area that has pushed the price downward in the past.
The support/resistance of an identified level, whether discovered with a trendline or through any other method, is deemed to be stronger the more times that the price has historically been unable to move beyond it. Many technical traders will use their identified support and resistance levels to choose strategic entry/exit points because these areas often represent the prices that are the most influential to an asset's direction. Most traders are confident at these levels in the underlying value of the asset, so the volume generally increases more than usual, making it much more difficult for traders to continue driving the price higher or lower.
Important: Unlike the rational economic actors portrayed by financial models, real human traders and investors are emotional, make cognitive errors, and fall back on heuristics or shortcuts. If people were rational, support and resistance levels wouldn't work in practice!
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SROSH
DOGEUSD 1D (looks more down)We have two scenarios for DOGEUSD because of the price right now at the sensitive price at the strong support zone
DOGECOIN
above 0.049 the direction is DOWNWARD
TP: 0.041 & 0.030 & 0.125
SL: 0.066
Risk 2.0%
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above 0.060 the direction is UPWARD
TP: 0.080 & 0.097 & 0.11
SL: 0.045
Risk 2.0%