Get started

Supoort

WIG - Resistance becomes supportGreetings to you all! I decided to mix journalism and technical analysis in this post. I will describe the last 20 years of price action in Warsaw Stock Exchange Index (WIG), laying out the market structure and how it was shaped by key geopolitical events. Keep reading till the end, because the key message is that decade-long resistance level might have become a support zone, and Polish stock prices could be well-positioned for future growth. Warsaw Stock Exchange Index (WIG) has declined during 2008 financial crisis, after reaching all time high of 67,772 PLN. This price level created a resistance that scared off any early advances and pushed away subsequent rallies. 2017 and 2021 brought 2 attempts that failed to break above the resistance. The first rally did not quite have the momentum required to push the price higher, and the buying power vanished over the next 2 years. 2020 brought crisis and a steep decline in price, which was followed by a quick recovery through 2021. Price managed to close above ATH during July - December period of 2021, but it was short lived. Rising interest rates in 2022 and high inflation growth over the last 12 months resumed the pessimistic tone markets have followed in the aftermath of the covid pandemic, resulting in price falling back below the resistance, which remained intact at 65K - 75K PLN level. It is important to mention that 2021 rally changed the character (CoC) of the established market structure post 2008 crisis, because price closed above ATH and set a higher high. Now, if I consider a local market structure of 2020 - 2024, I can clearly see a basic uptrend pattern of Higher High > Higher Low > Higher High, which is confirmed by both MACD and RSI indicators on monthly chart. Collectively, the 2020-2024 price impulse broke above the decade long resistance, which may now act as support, but, if you're a careful observer, you would notice that this happened as well in 2021. Why this time is different? Because consider the broader economic context, and you'll also notice that in 2024 inflation is seemingly under control (though above the target rates). Moreover, central banks kept the interest rates pretty much flat in 2022, and some even proceeded to cut them, lifting capital restraints affecting companies. Hence, overall picture for WIG looks quite optimistic. It gained 27% in the last 12 months, broke above strong resistance, and it did so by establishing an uptrend price impulse. Meanwhile, Polish currency appreciated by ~5% against dollar and rose to #6 economy in Europe as of 2023. It grew twice as fast as top 5 economies both in 2023 YoY and during 2020 - 2023 period. I guess I will add some WIG to my portfolio, it looks good to me. But you decide for yourself, I'm not a financial advisor and this is not a financial advice. Thanks for reading this post.
GPW:WIGLong
by VovaNapas
⤴️⤴️ Gold vip) fullback up ⬆️)Hello trader’s what do you think about gold) ? Gold this week fullback up ⬆️ gold cpi news service 2024) down back up 2065) retest support 2030) And breakdown support levels fullback 2086) resistance levels) Looking 👀 H4 tame-frame🖼️ ⤴️⤴️ Looking 👀 3H tame frame 🖼️ ⤴️⤴️ Looking 👀 2H tame frame 🖼️ ⤴️⤴️ safe trade 🙏🙏❤️🩵 Plaes like 👍🏻 and comment’s)
TVC:GOLDLong
by SMC-Trading-Point
4
USD/CHF perfectly aligned for sustainable grid trading USD/CHF has had a nice bullish short term ride and I believe it will, in general, continue until it reaches a firm resistance zone of $1.02ish, first established in November, 2014. This zone has been tested several times, so its a good selling area. Overall support is roughly at $0.87ish and has been holding and tested since May, 2014. The really is an exceptional set up that looks like it will continue for a while. When using a traditional grid trading technique, settng an upper boundary of $1.03 and a lower boundary of $0.86, yielding a spread of 1700 pips, gives a very nice grid structure with 17 pips between each level, with a maximum of 100 levels. Using automated methods would provide a very consistent flow of profits. The fact that the price action is so close to the lower boundary means profitability will occur in a shorter time frame as saturation will occur quicker. For manual trading, the boundaries could easily be adjusted to a level where a few minutes a day could be used to maintain the grid while still being quite profitable, since this is based upon the daily chart. Another technique would be to use a floating grid that encompases a stoploss such that the grid is more dymanic to the market, while providing consistency in both budget and profitability (see signature for more details). A floating grid will provide a better level of analysis as well, since it manages less positions and has a stronger and more beneficial rule set. Overall, regardless of trading technique, the USD/CHF market is poised to be profitable for a while, with a significant histocical record of being reliable.
Long
by RobertD7723
DOT Establishing a key Weekly Range with an important close Points to consider, - Price Action Equilibrium Bull Break - Weekly S/R Established and respected - Strong Bullish Volatility Expansion DOTUSDT has an important weekly close coming up that will determine the momentum of the prevailing bullish trend. Price action is to close in resemblance to a bullish hammer which will indicate strong momentum to the upside. DOTUSDT/Weekly Chart Observing the chart we can see price action forming equilibrium where supply and demand balances before an impulsive break. Evidently being the case this break was a bullish one that followed suite after a Doji Candle Close. The expansion was backed with increasing volume as reflected in the volume profile; this indicated a true break in nature. Follow through was evident that led to an initial bullish volatility expansion. A Weekly S/R was established successfully as price action held a base for two consecutive candle closes, this base associated around the $9.50 region. Holding this level was crucial for a bullish bias as volume indicated strength with follow-though being imminent, again evidently being the case. The evidential fact that this level got respected was a tail sign of further upside. A strong bullish volatility expansion followed suit as price action continued to rise with increasing volume. DOTUSDT managed to put in a swing high at $19.40, marking the all-time high and the current objective for continuation. A well-established weekly range has now come to fruition, with a weekly close in the coming days, will determine the likely-hood of taking out swing high. As of current there has been a strong buy back in price action is resembling a bullish hammer. How this next weekly candle closes will determine the momentum of the prevailing bullish weekly volatility expansion. Hope this article helps when making discretionary decisions
Long
by CoinGape
3
Potential sellThis is a two entry sell analysis with an entry rule. Although GBP as found some momentum as a whole, CAD has been looming right behind in its showdown with 4 weeks of strong positive economics which is expected to continue through the start of 2021. The entry rule here is clearly shown on the chart. A break and close out below the support of 1.73500 for one who practice strict risk management rather than sell stopping at 1.74000 ( which I’ll do on my demo account 😂). TP first sell at support shown and if the support breaks allow the second sell to continue to second TP. Close out second sell if there is clear support at 1.74000 and pivots look for SL. RSI and MACD are currently correcting towards selling points for some technical sentiment. Please comment with any thoughts and ideas. Thank you.
Short
by Pika7993
1
BT shortSimilar to my last post BT has been having a horrible time and has been on a continuous slide since 2016, unfortunately for BT it seems as though they could be about to start another move down through the 213 level. Again similar to BA. we have a gap down which has been followed up by further weakness and then some consolidation at a level in this case support is 213. The last two trading days in BT have seen dojis with very little movement between their open and closes this is reflected by the 18.7% negative difference in the 10 day average volume vs the 3 month average indicating a period of calm while we decide where to go next. My entry stop will be at 212.99 on this set up with the stop loss at the high day previous to the break out candle when 213 goes. The next major support should be found at the round number for 210 where a third of the position will be trimmed as always leaving 2 thirds running to be decided after. Please let me know if you see this situation differently and message me with your views. Joe LSE:BT.A
LSE:BT.AShort
by Joevose
BTC Setting up for a double bottom ending our downward trend!!?Okay, I was tired of everyone else having all the fun. So drew my own lines and arrows on a chart. Here's my first analysis. This interpretation was formed using my own set of highly technical and complex algorithms that I like to refer to as.. pure speculative imagination! It might be a little early to call this one, but it appears a second small bull flag might be forming. We've seen some incredibly frustrating sell pressure creating tough resistance up to this point. It seems like we're running out of steam, but hopefully we can move on to test the .786 and break back into the middle of the downward trending line! I'm optimistic, but I don't think we're done with this smelly bottom just yet. We've struggled pretty hard to bounce as high as we have, but I think the first real resistance we hit is going to crush this rally... However, being that we saw decent support at the 1.0 fib level, it could be our escape plan out! If we fall back down for a double bottom, I'm hoping the 1.0 fib support could give us enough sideways action to bounce us past the center of the downward trending line. It might give us the break we need to finally start climbing back up! I'm apparently locked into my trade for the next 12 hours.. So if you're long off the bounce like me, hodl on, and set your stops if ya got em'. It's going to be a bumpy ride! Thanks for reading, let me know what you think! - Also, not that anyone was thinking about it; but I wouldn't use any of my advise for trading... I've done some studies, and 60 percent of the time, I'm wrong every time... -Sly2.0
BITFINEX:BTCUSDLong
by sly2