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Support_and_resistance

Falling Wedge- BullishAfter finally retracing, the lithium sector is starting to look ready to breakout with buyers starting to step in. Watching LAC & PLL closely here as both are holding massive falling wedges, however, PLL is seemingly forming an ascending triangle as well on its weekly timeframe (See Attached Chart Below). Additionally, PLL is holding the same falling wedge on the 4-Hour timeframe with its Bollinger bands squeezing, along with a Bullish Butterfly Harmonic Pattern, MACD golden cross. Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting)- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones in the meantime -- Price Targets & Previous Charts Attached In Description -- PT1- $56.12 PT2- $58.74 PT3- $60.07 PT4- $61.26+ --Weekly Timeframe-- --4-Hour Timeframe--
NASDAQ:PLLLong
by jacobosiason7
3
PLL - Inverse Head and Shoulders - WeeklyWatching LAC & PLL closely here as the lithium sector heads into earnings. PLL is seemingly holding the same channel after breaking out and retracing back to the channel it's currently holding. PLL is holding the same channel on the 4-Hour timeframe with its Bollinger bands squeezing, along with a Bullish Butterfly Harmonic Pattern, MACD golden cross. Bullish and and anticipating an upward move following their respective earnings reports. (Broader Market Conditions Permitting)- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones in the meantime -- Price Targets & Previous Charts Attached In Description -- PT1- $56.12 PT2- $58.74 PT3- $60.07 PT4- $61.26+ --Previously Charted--
NASDAQ:PLLLong
by jacobosiason7
Massive Falling Wedge Headed Into EarningsAlways keep an eye on LAC, however, I've never seen it hold within a falling wedge for as long as it has, while heading into earnings. LAC is still holding the same massive falling wedge on the daily and weekly timeframes. LAC has a nice double bottom and MACD golden cross on the daily timeframe, accompanied by a bullish cypher harmonic pattern. Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting)- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones in the meantime -- Price Targets & Previous Charts Attached In Description -- PT1- $20.81 PT2- $21.67 PT3- $22.54 PT4- $23.78 --Weekly Timeframe-- -- Previously Charted--
NYSE:LACLong
by jacobosiason7
2
USDJPY uptrend scalp to higher highThe daily closed bullish but with some buy exhaustion which led me to believe that there still some bullish momentum but not much. The 1H made a clear higher high and decided to hold at its lows but created some bullish reversal signals on top of support. The moving avergae plays as support as well. Upon the breach of a 30min correction trendline. I believe price is on its way back to test its high or create a new one. Afterall, this is an overall uptrend.
Long
by DesharedPierreJr.
1
PEPE (technical idea) range market and more correction ❌🧨Hello 🐋 the price now again stick in the parallel channel, we expect to see sharp red candlesticks to the downside besides the range market is acceptable scenario too 📖💡 if we lose our support level, we will see more correction ❌🧨 and if we lose our daily resistance here more gain is logical 💣🚀 👌 Notice: pay attention to the price on shortcut chart (located above the main chart with black colour) 📖💡 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
Short
by MadWhale
13
📊 6 Examples of Rejections at S/R Areas📍Support and Resistance 101 Support and resistance are two foundational concepts in technical analysis. Understanding what these terms mean and their practical application is essential to correctly reading price charts. Prices move because of supply and demand. When demand is greater than supply, prices rise. When supply is greater than demand, prices fall. Sometimes, prices will move sideways as both supply and demand are in equilibrium. Like many concepts in technical analysis, the explanation and rationale behind technical concepts are relatively easy, but mastery in their application often takes years of practice. S/R level areas can develop inside different candlestick patterns as well as trend trading patterns. The Resistance being the top of the pattern and the support being the bottom of it. 🔹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. 🔹Support occurs where a downtrend is expected to pause due to a concentration of demand. 🔹Resistance occurs where an uptrend is expected to pause temporarily, due to a concentration of supply. 🔹Market psychology plays a major role as traders and investors remember the past and react to changing conditions to anticipate future market movement. 🔹Support and resistance areas can be identified on charts using trendlines and moving averages as well as different types of patterns. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
2
BITCOIN needs more correction for future gain ❌🧨Hello 🐋 the price now again stick in the parallel channel and more range candlesticks between tow area before any other breakout of the previous high we expect to see sharp red candlesticks to the downside besides the range market is acceptable scenario too 📖💡 if we lose our support level we will see correction at least $24000 area ❌🧨 and if we lose our daily resistance here more gain is logical 💣🚀 👌 Notice: pay attention to the price on shortcut chart (located above the main chart with black colour) 📖💡 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
Short
by MadWhale
10
Falling Wedge Heading Into EarningsPosting a quick update here as CRWD has been holding a macro-downtrend for some time now, and is heading into earnings looking quite bullish. CRWD is holding a massive falling wedge on its daily & weekly timeframes, (See Attached Charts Below), is sitting right on its 50-day EMA with the others starting to curl upwards, Bollinger bands are squeezing (Not Pictured), along with holding a bullish ABCD Elliot Wave on the daily timeframe and some gaps way on the upside still left to be filled. Additionally, CRWD is holding the same falling wedge on the weekly timeframe, accompanied by a massive bullish harmonic pattern as well as some bullish hidden divergence on the RSI. Will be looking for a breakout from this wedge (Broader Markets Permitting) - Just some support and resistance levels along with some RSI-based supply and demand zones to keep an eye on in the meantime - Bullish and looking for a breakout from this wedge -- Price Targets & Charts Attached Below-- PT1- $129.71 PT2- $134.26 PT3- $141.71 PT4- $147.90+ --Weekly Timeframe--
NASDAQ:CRWDLong
by jacobosiason7
1
DX1! Weekly Technical AnalysisDX1! Weekly - No RECOMMENDATION or ADVICE Status / EDUCATIONAL only - Support, Resistance, Confluence, Cluster, Fibonacci, Pitchfork , Cup and Handle - Hope it Helps, Good Luck DISCLAIMER - This communication is not trading or investment advice, recommendation or solicitation to buy, sell or hold any investment product is provided for informational, educational and research purposes only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The author or persons involved in the conception, production and distribution of this material cannot be held responsible for transactions or any financial loss or damages resulting directly or indirectly from the use or application of any concepts or information contained in or derived from this material. Past performance is not indicative of future results. Any person who chooses to use this information as a basis for their trading assumes all the liability and risk for themselves.
ICEUS:DX1!
by BahamasX
EURUSD Range IdeaStrong round number, Good possibility of a lot of sellers lying in wait. We have the supply zone still in play from the 1.06300 area/15 minute chart from friday's excitement, so taking a short entry at 1.06970 with a target at that area. Blue line at the stop is a hedge order incase we break to trend, then I'll wait for 1.07400 to make another choice, But I think a range is very likely to be the outlook, at least half of it if not the whole range to try for the 1.04 the bears keep wanting. If we use half the range or just plain dip and rise, I think we may be looking at a run for the 1.08 levels. Have to see how this traffic jam plays out, lot of areas in one place.
by ForexStoryteller
3
Falling Wedge- Bullish - UpdateENPH has been trading sideways for quite some time now while simultaneously getting beaten down by the broader markets, and testing a very strong resistance level circa $223-214.00. However, ENPH has seemingly found a bottom with a significant amount of bullish flow coming in while heading into earnings on 4/23'. From a fundamental standpoint, relative to others in the sector such as FSLR, ENPH is undervalued compared to other big names in the sector. Nevertheless, ENPH is setting up quite nicely here, hovering in and out of oversold territory while holding a massive falling wedge, accompanied by hidden bullish divergence on the RSI on the weekly timeframe (See Attached Chart Below). Furthermore, ENPH is sitting right on its 50-day SMA while bulls & bears are pulling. Regardless, Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting)- Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime --Previous Charts Attached Below As Well As Price Targets-- PT1- $222.58 PT2- $228.34 PT3- $234.62 PT4- $240.37 + Weekly Timeframe Fundamentals Previously Charted
NASDAQ:ENPHLong
by jacobosiason7
Symmetrical Triangle - Sympathy PlayEyeing the entire solar sector here as ENPH heads into earnings tomorrow after retracing back down to the 220 range. Intend to play both, however, SEDG is unique in the sense that there was not the usual retrace back to its respective 200-day MA and has been trading rangebound for quite some time now. Some slight hidden bullish divergence on the RSI, a big symmetrical triangle, a bullish gartley harmonic pattern, and increasing buyer volume relative to seller volume. Bullish and will be looking for a breakout from this triangle (Broader Market Conditions Permitting). Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- Price Targets & Previous charts are attached below PT1- $325.71 PT2- $328.88 PT3- $334.29 PT4- $341.68 + --Previously Charted--
NASDAQ:SEDGLong
by jacobosiason7
2