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Structuralresistance

TRXBTC Inv. Head & Shoulders|Daily Support|Golden Cross|.618 FIbEvening Traders, Today’s Analysis – TRXBTC – breaking out of an inverted head and shoulders where price consolidation above key levels will change the trend. Points to consider - Neckline breached (Pattern Validation) - Daily support breached (Golden Cross confluence) - Structural resistance confluence (Technical target) - Oscillators cooling off - Volume follow through (Continuation) - Valid long on retest (Risk defined) TRXBTC breached its neckline and established a technical higher high; validation of the pattern, bias is now bullish. The daily support level is in confluence with the 200 MA, an official golden cross has also been established, further solidifying the importance of the level. The technical target is in confluence with structural resistance, price action around the area will help with trade management. Oscillators are both cooling off from overextended levels. Retest of daily support will magnet oscillators towards their respective equilibrium (50 levels) before a probable impulse. This allows for a more RISK defined entry. Volume needs follow through for momentum to sustain, this will be key upon a retest of daily support. Overall, in my opinion, a long trade is valid at daily support (retest), the .618 Fibonacci being an over extension. This retest must be backed by volume for follow through, failure will lead to trade invalidation - candle closes below daily. What are your thoughts? Thank you for following my work! And remember, “Every trader has strengths and weakness. Some are good holders of winners, but may hold their losers a little too long. Others may cut their winners a little short, but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach.” - Michael Marcus
Long
by AzizKhanZamani
7
IOTXBTC | Descending Triangle | Apex | Trade Setup Todays chart – IOTXBTC – testing resistance of the descending triangle formation as it nears the apex. Points to consider: - support and resistances converging (apex) - Trend bearish (consecutive lower highs) - Bullish Price action (testing resistance) - Support confluence - RSI above 50 - Low volume IOTX has formed a mature descending triangle (typically considered a bearish formation) however price action is showing strength with multiple breakout attempts as it nears the apex. Structural support and the 200 EMA being in confluence puts a strong emphasis on the level being a strong support zone. RSI trading above 50 showing strength in the market supporting the bullish bias. The volume is clearly declining, an indication that an influx is imminent coinciding with the probable breakout Overall, in my opinion, IOTX needs to break and retest structural resistance with volume follow through for a valid long trade to structural resistance. What are your thoughts? Let me know in the comments below! Be sure to leave a like and follow me for daily chart updates. As always, focus on you - and the money will too!
Long
by Kudiiee
TLRAY INC |Bull Flag | S/R Flip | Clean Trade Setup Today’s Chart - TLRAY INC – Currently consolidating in a bull-flag formation above structural support. Points to consider: - Structural support retest (S/R Flip confirmation) - Bull-flag formation - Below average volume - RSI trading above 50 TLRAYs S/R flip has been confirmed with a retest of structural support, the immediate target now structural resistance. Volume nodes are below average, bulls need to see an influx out of the probable bull flag formation to support the bullish bias RSI is above 50, showing reasonable strength in the current market Overall, in my opinion, a bullish breakout is imminent. A long trade will be validated on a retest of the neckline (conservative entry) or a break of the bull flag (aggressive entry) as both technical targets align with structural resistance. “When you smoke herb, it reveals you to yourself.” – Bob Marley
NASDAQ:TLRYLong
by Kudiiee
XLMBTC Range Median| Structural Resistance| S/R Flip Evening Traders, Today’s Analysis – XLMBTC – must hold range median upon a retest to test structural resistance (range high) Points to consider, - Range median (local support) - S/R flip retest must hold - Structural resistance (Immediate target) - Volume below average XLMBTC’s range median is in confluence with local support, a trade location where an S/R flip must hold for a bullish continuation. The structural resistance is a technical target as it is the range high of this consolidation area. Volume is clearly declining and remaining below average, this is usually an indication of an influx being imminent. Overall, in my opinion, XLMBTX needs to develop more to confirm its S/R flip. Establishing a new level as support will allow for a defined risk long trade into structural resistance (range high). What are your thoughts? Please leave a like and comment, And remember, “Remember our definition of a winning attitude: a positive expectation of your efforts with an acceptance that whatever results you get are a perfect reflection of your level of development and what you need to learn to do better.” ― Mark Douglas
Long
by AzizKhanZamani
2
CADCHF S/R Flip Retest| Structural Resistance| Long Trade Setup Evening Traders, Today’s analysis – CADCHF –broke local resistance from oversold conditions; next technical target is at structural resistance. Points to consider, - S/R Flip retest - Structural resistance (trade location) - RSI above 50 - Stochastics in an rising wedge CADCHF needs to put in an S/R flip retest to validate support, this retest will allow for a long entry with defined risk. The immediate target is structural resistance; a back test of this trade location is likely due to the initial impulse move down. The RSI is above 50 after recovering from oversold conditions whilst the stochastics is in a valid rising wedge formation. A breakdown is likely which will coincide with the S/R flip retest. Overall, in my opinion, CADCHF will likely put in a retest at local support allowing for a long entry. Risk will be defined by the recent swing low. What are your thoughts? Please leave a like and comment, And remember, “If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” – Mark Douglas
Long
by AzizKhanZamani
AUDUSD Rising Wedge| Structural Resistance| Technical Target Evening Traders, Today’s Analysis – AUDUSD – trading in a rising wedge pattern at key structural resistance, a break bearish is plausible. Points to consider, - Consecutive higher lows - Strong structural resistance - Technical target (local support) - RSI and Stochastics lower high projection - Volume influx needed AUDUSD has been putting in consecutive higher lows as it trades closer to its rising wedge apex. Structural resistance is a key trade location; a break above this will NEGATE the trade setup. The technical target for this rising wedge is at local support, assuming price breaks down from the structural resistance zone . The stochastics and the RSI is projected to establish a lower high if price tests structural resistance. This will put in a double bearish divergence, thus putting more emphasis on a breakdown. There needs to be a volume influx upon a break in either direction of the rising wedge for confirmation. This will help avoid any bear and or bull traps. Overall, in my opinion, AUDUSD is approaching a key macro structural resistance. A short trade is valid with defined risk above resistance. For confirmation, wait for the wedge to break with increasing volume . What are your thoughts? Please leave a like and comment, And remember, “Focus, patience, wise discernment, non-attachment —the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.” ― Yvan Byeajee
Short
by AzizKhanZamani
2
USDCHF Equilibrium| Structural Resistance| Declining Volume Today’s Technical Analysis – USDCHF- trading in equilibrium where a break is imminent Points to consider, - Structural resistance (bearish retest) - Declining volume - Apex - RSI at 50 A break in USDCHF will be imminent as price continues to reach its apex. The support and resistance lines will converge leading into a break in structure. The structural resistance is a key level, a bearish retest will allow for a valid short. It is important to monitor how price action forms at the level as weakness will indicate a possible liquidity grab. Volume is clearly declining, which is an indication of a true equilibrium. A breakout needs to be backed with increasing volume; this will decrease the probability of a false breakout. Overall, in my opinion, if USDCHF breaks bullish, its immediate target will be structural resistance. If price action shows weakness and confirms a bearish retest, lower level will then be likely. What are your thoughts? Please leave a like and comment, And remember, “Do not anticipate and move without market confirmation—being a little late in your trade is your insurance that you are right or wrong.” -Jesse Livermore
Short
by AzizKhanZamani
2
ETHBTC Weekly Candle Close| Support Zone| Price Action Today’s Technical Analysis – ETHBTC – testing a weekly level with an important candle close Points to consider, - Weekly structure - S/R flip - Volume below average - Structural resistance ETHBTC is testing an important weekly zone that must remain as support to further solidify the S/R Flip. A bullish candle close (hammer candle) on a weekly structure will show strength in price action. It has held previously, leading to an impulse move into structural resistance. The volume at current given time is trading below average, similar at previous hammer candle closes. Bull volume needs to increase for follow through, price has been declining for the past 3 weeks, a relief rally will at some point be imminent. Overall in my opinion, a candle close above the support zone is quite bullish especially on a weekly time frame. If price breaks support zone, this will mean breaking structure, lower levels at previous double bottom will then be targets. What are your thoughts? Please leave a like and comment, And remember, “The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.” - Paul Tudor Jones
Long
by AzizKhanZamani