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Supportandresistence

HA-High Box Range: 62856.30-65618.80 Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost" as well. Have a nice day today. ------------------------------------- Since this is a chart for trading, there is nothing to analyze. However, since the chart has been released, I think it is necessary to explain how to actually use it, so I will spend a few more times explaining this chart in the future. - (BTCUSDT.P 1D chart) In this chart, M-Signal indicators for 1M, 1W, and 1D charts have been added to check the trends necessary for chart analysis. The 5EMA line of the 1D chart has been added for scalping and day trading. - Basically, the point where you start trading is the BW (0), BW (100) line. - Mid (50) line is the position conversion line. - Low (20 UP), HIgh (80 Down) line are split trading points because they indicate the low and high points. Since the Mid (50) line is showing signs of rising and being created, the key is whether the Mid (50) line can be supported around this area and rise above the High (80 Down) line. - (1h chart) If the price is maintained above the BW (100) line, it is likely to lead to a stepwise uptrend. If it falls below the BW (0) line, it is likely to lead to a stepwise downtrend. Since 5EMA on the 1D chart > M-Signal on the 1D chart > M-Signal on the 1W chart, if it is supported near the BW (100) line, it is expected to lead to additional rise. However, if the StochRSI indicator enters the overbought zone, it is likely to decline over time. In that case, you should check whether there is support near the High (80 Down) line. Also, if the Mid (50) line is created near the price, you need to check whether you should switch the position. ------------------------------------------------ (BTCUSDT 1D Renko chart) You can see that the 63000 point is an important support and resistance point. - The point to watch is whether it can rise along the rising trend line (2) and receive support near 63515.05-64538.39. - The 62856.30-65618.80 section is the box section of the HA-High indicator on the 1D chart. Accordingly, if it receives support near 62856.30, it is highly likely that it will attempt to rise to the 64748.70-65618.80 section. If it falls below 62856.30, 1st: 61099.25 2nd: HA-Low on 1D chart (currently 56204.13) We need to check for support near the 1st and 2nd above. The next volatility period is around November 4th. - Have a good time. Thank you. -------------------------------------------------- - ​​Big picture It is expected that a full-scale uptrend will begin after it rises above 29K. The section expected to be touched in the next bull market is 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (overshooting) 4th: 134018.28 151166.97-157451.83 (overshooting) 5th: 178910.15 These are points where resistance is likely to occur in the future. We need to check if these points can be broken upward. We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section. #BTCUSD 1M If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33. 1st: 43833.05 2nd: 32992.55 -----------------
by readCrypto
Chart for trading on time frame charts below 1D chart Hello, traders. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a nice day today. ------------------------------------- This is an indicator created for trading on time frame charts below 1D charts. Therefore, there is nothing to explain. This is because trading should be conducted according to your own trading strategy or response strategy. However, I hope that it will be a reference material that allows you to create a trading strategy or response strategy that suits you by looking at the points where you can start trading or the points where you can respond. To use this chart, click the three dots below this idea and click Grab this chart. --------------------------------------------- The basic trading method is as follows. 1. The BW 0 line or BW 100 line is the standard line for trading. Therefore, to start trading for the first time, you will trade with a buy (LONG) or sell (SHORT) position depending on whether these two lines are supported. 2. The Mid (50) line is the position conversion line. Therefore, when trading with a sell (LONG) or sell (SHORT) position, if you touch the Mid (50) line, you should proceed with a split transaction or liquidate depending on the situation. 3. The High (80 Down), Low (20 UP) line plays the same role as the Mid (50) line, but it is a line for the main purpose of a split transaction. Therefore, in the case of a low time frame chart, it may be more helpful to deactivate the High (80 Down), Low (20 UP) lines. - The additional trading method is as follows. 1. If it falls below the BW 0 line, it is likely to lead to a stepwise downtrend. 2. If it rises above the BW 100 line, it is likely to lead to a stepwise uptrend. Therefore, if 1 and 2 occur, you should conduct split trading near the Mid (50), High (80 Down), and Low (20 UP) lines. To determine this, it is recommended to conduct trading by referring to the movement of the StochRSI indicator. If the StochRSI indicator has entered the overbought zone, it is highly likely to lead to an additional rise. Therefore, if it falls in the overbought zone and changes to a state where StochRSI < StochRSI EMA, the price is likely to continue to decline. Conversely, if the StochRSI indicator has entered the oversold zone, it is highly likely to lead to an additional decline. Therefore, if it rises in the oversold zone and changes to a state where StochRSI > StochRSI EMA, the price is likely to continue to rise. With this interpretation method, I recommend using it as a basis for judging how to proceed with a transaction when the price is located near the BW 0 line and the BW 100 line. - When trading, it is recommended to proceed based on the trend of the 1D chart. In other words, if the 1D chart maintains an upward trend, it is recommended to proceed with a transaction to maintain a long position. If you need to trade in the opposite direction of the 1D chart trend, remember that a short and quick response is required. In order to see the overall trend, the M-Signal indicators of the 1M, 1W, and 1D charts have been added. For scalping or day trading, the 5EMA indicator of the 1D chart has been added. - Have a good time. Thank you. --------------------------------------------------
by readCrypto
Check if it is a regular array before trading Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost" as well. Have a nice day today. ------------------------------------- Since ETH is in a reverse array (M-Signal on the 1D chart < M-Signal on the 1W chart < M-Signal on the 1M chart), I don't think it's time to trade. However, since it is located near the HA-Low indicator and the M-Signal indicator on the 1D chart, if it receives support, it can be considered an aggressive buying period. Such aggressive buying requires a short and quick response. From this perspective, if ETH maintains its price around the 2555.38-2646.97 range and switches to a regular array (M-Signal on the 1D chart > M-Signal on the 1W chart > M-Signal on the 1M chart), it is ready for trading. If you are familiar with day trading, you can start with aggressive buying and move on to full-scale trading, but if you are not, it is better to pass on aggressive buying. If you make an aggressive purchase and it fluctuates up and down, you will not be able to hold on and sell when you need to make a full-scale transaction, which will reduce your profits or you will likely suffer losses even if the price rises. ----------------------------------------- Currently, the only coin recognized for its value after BTC is ETH. You can argue this, but this is a fact. Several coins are making efforts to be recognized for their value. Namely, XRP, SOL, etc. Therefore, I think that long-term investments are BTC and ETH, and the remaining coins and tokens are trading coins that earn profits through trading in the medium term or less. ---------------------------------------- (ETHUSDT 12M chart) When drawing a parallel channel, the most important trend is the trend line (1) created by the first and second selection points. Therefore, if the first and second selection points are selected incorrectly, an incorrect channel may be created. The next important thing is the third selection point, which determines the width of the channel. If this is also selected incorrectly, it can be interpreted incorrectly, so caution is required. Therefore, trend line (2) is the important trend line. The next important thing is trend line (3) created between (1) and (2). Therefore, if trend lines (1), (2), and (3) are passed, there is a high possibility that a change in the trend will occur. The Fibonacci ratio is displayed as a Trend-Based Fib Extension tool with the selected candlestick of the parallel channel. Accordingly, the drawing for basic chart analysis is completed. Fibonacci ratio or parallel channel is for chart analysis, not for trading, so do not confuse them. If you think of Fibonacci ratio as support and resistance points and there are no support and resistance points drawn separately on the 1M, 1W, and 1D charts, I think the transaction is likely to fail. Therefore, in order to proceed with the transaction, you must mark the support and resistance points on the 1M, 1W, and 1D charts. - (ETHUSDT 1W chart) If you drew an ascending parallel channel on the 12M chart, you drew a descending parallel channel on the 1W chart. The 1M chart is drawn as an ascending parallel channel like the 12M chart, so it was not drawn. This allows for a more accurate analysis when looking at just one parallel channel. The Fibonacci ratios shown on the left were drawn on the 1W chart. We found that a change in trend can occur by passing through the area indicated by the circle. - (1D chart) The price made an uptrend and then started to make a downtrend. As you can see in the 1D chart above, there are two downtrends. The first wave of the downtrend provides important information. Therefore, if possible, it is better to draw a trend line on the first wave where the change in wave occurred. The second downtrend is connected to the current wave, so this also provides important information. If you mark important areas according to the current price position, it is the same as the order of the circles marked on the chart. - Have a nice time. Thank you. -------------------------------------------------- - ​​Big picture It is expected that the real uptrend will start after rising above 29K. The section expected to be touched in the next bull market is 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (overshooting) 4th: 134018.28 151166.97-157451.83 (overshooting) 5th: 178910.15 These are points where resistance is likely to be encountered in the future. We need to see if we can break through these points. We need to see the movement when we touch this section because we think we can create a new trend in the overshooting section. #BTCUSD 1M If the major uptrend continues until 2025, it is expected to start by creating a pull back pattern after rising to around 57014.33. 1st: 43833.05 2nd: 32992.55 -----------------
by readCrypto
New chart tool released: Parallel Channel Hello, traders. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a nice day today. ------------------------------------- You can check the detailed explanation of the newly added chart tool by clicking the link address below. www.tradingview.com --------------------------------------- The most important thing when drawing a trend line is where you designate the selection point. Therefore, it is recommended to draw the trend line before starting a trade. If you draw a trend line while a trade is in progress, you should be careful because your psychological state may be reflected when designating the selection point. - You need to select 3 points to draw a parallel channel. The first and second are the points corresponding to the trend line, and the third selection point is the point where the channel will be drawn. Accordingly, I recommend drawing on the largest time frame chart possible. I think that is the most objective way to draw parallel channels. - The chart above is the 12M chart, which is the largest time frame chart. If the 12M chart does not have the current candle arrangement, you should use the 1M chart. - As in the example chart above, create a trend line by specifying the low point of the rising candle after the falling candle. (Specify 1st and 2nd points) Then, complete the channel by specifying the high point of the candlestick to the left of the previous downtrend candlestick of the 2nd point. (Specify 3rd point) If you draw it like above and look at it on a 1D chart, it will feel like it is drawn well. ----------------- If you want to draw a 1D chart on a lower time frame chart, the 3rd point is the hardest to choose. However, since you can designate it in the same way as you drew it on the largest time frame chart, you have to find out which point corresponds to the 3rd point. - If you look at the current trend, you can see that it is forming a downtrend channel. Therefore, you have to choose a point to create a downtrend channel. - You can select and designate as shown in the chart above. When drawing on the 12M chart above (when in an uptrend) 1st point designation: Select the low point of the rising candle after the falling candle 2nd point designation: Select the point of the rising candle after the falling candle after the 1st point designation 3rd point designation: Select the high point of the candle on the left of the falling candle to the left of the 2nd point designation (When in a downtrend) 1st point designation: Select the opening price of the falling candle (wave) after the rising candle (wave) 2nd point designation: Select the opening price of the falling candle (wave) after the rising candle (wave) after the 1st point designation 3rd point designation: Select the low point of the rising candle (wave) to the left of the 2nd point designation If you select in the above way, you can get a feeling that something is well drawn. If you have your own drawing style, you can draw it that way. I am just giving you an example of how to draw, so you don't have to follow it. However, the important point is that you have to draw it according to the method of designating the selection point and creating a pattern. - If you look at the 1D chart above, you can see that there is a vertical line drawn. This vertical line indicates the high point of the StochRSI indicator. Since the current trend is a downtrend, the high point of the StochRSI indicator is indicated, but when it is an uptrend, the low point of the StochRSI indicator is indicated. And, based on that point, you can select the point according to the format of designating the selection point mentioned above. - The trend line is a tool for chart analysis. Therefore, in order to trade, the support and resistance points drawn on the 1M, 1W, and 1D charts must be indicated. So, if you have confirmed the trend using the parallel channel released this time, you must draw the support and resistance points to create a basis for trading. The reason is that since the trend line is diagonal, it is difficult to determine the timing to start trading. ----------------------------------- The method I am talking about is a method that anyone can understand. The trend line you draw should be a point that everyone who sees various support and resistance points can understand. Then there is no need to explain why you chose that point, and I think everyone can easily understand it. If you have a good method that you are using, please publish it as an idea and make it public. - Have a good time. Thank you. --------------------------------------------------
INDEX:BTCUSDEducation
by readCrypto
Will UKOIL continue its decline?The U.S. Energy Information Administration (EIA) announced that global oil demand will reach a higher level this year, while noting that the increase in production will be lower than previously forecasted. Additionally, the EIA reduced its price forecast for Brent crude oil in 2024 by 2.4%, from $84.44 per barrel to $82.80 per barrel. As a result, Brent crude oil prices fell to the $70.0 level. Technically, if the 69.30 support level is broken, further declines toward 67.50 and 65.60 are possible. On the upside, if the 71.50 resistance is surpassed, buying momentum could accelerate toward the 73.0 and 74.30 resistance levels.
TVC:UKOIL
by primequotes
EURUSD 4/8/24This week's chart on the EU has several interesting points to follow. Firstly, we observed a significant surge through the liquidity highs that were established during the previous downward price movement early last week. This push was a direct result of news from the US regarding the Fed rate cut and other economic events. Consequently, we start this week at the top of the news range mentioned above. To stay within the current range and price action seen at the beginning of this week, we anticipate a potential pullback to the 50% mark, as indicated from the high to low move. This would involve the price retreating from the supply tapped into during the last hours of Friday's price action. Following a sell-off, we would track the sells into the discount pricing of this range and possibly deeper into the demand marked at the base of our move. If this scenario plays out, we will look for that demand to either push the price back up to reach our range high or for it to fail, leading to an overall bearish shift. This week, we have fewer high-impact news events, so the market might not be as volatile as last week. As always, use this chart as a blueprint for potential moves. Nothing is guaranteed, and all biases can change, so be prepared to adapt to market conditions. Trade safely, stick to your risk management, and always follow your plan.
by rosshayes
1
Bitcoin Price Analysis Adjusted for Inflation: Key Reaction LeveOverview In this analysis of the BTC/USDT pair adjusted for inflation using the M2 money velocity (M2V), we examine the key Fibonacci levels and potential reactions from order blocks (OB) and fair value gaps (FVG). This provides a more accurate perspective on Bitcoin's price action in the context of inflation. Key Levels and Analysis Current Price: BTC/USDT adjusted for M2V is trading at 43,235.36, with a 1.57% increase. Fibonacci Levels: 0.236: 49,231.96 0.382: 42,763.04 0.5: 37,534.73 0.618: 32,306.42 0.786: 24,862.72 Potential Reaction Levels 0.5 Fibonacci Level (37,534.73): Order Block (OB): Just below the 0.5 level, an order block is present, indicating a potential strong support zone. Fair Value Gap (FVG): This zone also aligns with a fair value gap, suggesting a high probability of a significant price reaction. Targets Target 1: 49,231.96 - Key resistance level based on the 0.236 Fibonacci retracement. Target 2: 59,688.58 - Major resistance aligned with the 0 Fibonacci retracement level. Target 3: 87,331.31 - Based on the 0.618 Fibonacci extension. Target 4: 115,152.95 - Ultimate bullish target at the 1.618 Fibonacci extension level. Harmonic Patterns The chart shows a large harmonic pattern Cypher, indicating potential reversal zones: Point C: Previous peak, suggesting areas of interest for resistance and support. Current Price Action Support Levels: Immediate support at the 0.382 Fibonacci level (42,763.04). Stronger support anticipated at the 0.5 level (37,534.73) due to the presence of OB and FVG. Resistance Levels: 0.236 Fibonacci level (49,231.96) as the first major resistance. Potential Scenarios Bullish Scenario: Holding above the 0.382 level could lead to a break above the 0.236 level, targeting 59,688.58 and higher. Bearish Scenario: If the 0.382 level fails, a drop to the 0.5 level is likely, where a strong reaction is expected due to OB and FVG. Conclusion Adjusting for inflation with the M2 money velocity offers a clearer view of Bitcoin's real value. The 0.5 Fibonacci level (37,534.73) is critical, with strong support from OB and FVG, suggesting a significant price reaction. Monitoring these levels will provide valuable insights for trading decisions. Share your thoughts and analysis in the comments below! Disclaimer: This analysis is for educational purposes only and should not be considered as financial advice. Always do your own research before making any trading decisions.
Long
by Neirolink
1
We are back!! $SIA(C6L.SI) Showing sign of bottomHas been away awhile from here! Hope everyone is doing well in the stock market! Let's dive into our analysis on SIA C6L Recent fall shows signs of volume supporting the price at the previous low in the 5 mins chart (yellow box). ‌ With price moving slightly higher could be a sign of short term rebound is on the way. ‌ Our trading method: Taking advantage to this possible short term rebound & maximizing the returns with our low exchange rate of MYR to SGD, we look into SIA's DLC issue by #societegenerale, TSX:SIA 5xLongSG250709(DZTW.SI), long position due to lower outstanding%, lower DLC price, & more sensitive to the underlying securities. ‌ @roundnsurge ‌ Share your view about TSX:SIA (C6L.SI) in the comment section. ‌ About our analysis : Utilizing the dynamic insights from a 5-minute chart. By closely examining this timeframe, we dissect the intricate volume and price transactions of significant market players. Our aim is to identify short-term support and resistance levels, enabling informed trading decisions. Through this meticulous analysis, we decipher price patterns and trends, providing valuable guidance for traders navigating the fast-paced realm of stock trading. ‌ Disclaimer: The information provided in this post is for informational purposes only and should not be considered as financial or investment advice. Any action you take upon the information in this post is strictly at your own risk. We are not responsible for any losses or damages that may occur in connection with the use of this information. Always do your own research and consult with a qualified financial advisor before making any investment decisions. The views and opinions expressed in this post are those of the author and do not necessarily reflect the official policy or position of any other agency, organization, employer, or company. #shorttermtrading #SGX #demandsupplytrade #pricevolumeanalysis #roundnsurge #DLC #sia #dailyleveragecertificates
SGX:C6LLong
by ROUNDnSURGE89
Mastering Support & Resistance This video dives into the fundamentals of support and resistance, the cornerstones of technical analysis. We'll cover: ** Identifying trends:** Learn how to spot bullish and bearish trends using higher highs/higher lows (HH/HL) and lower highs/lower lows (LH/LL). ️** Support & Resistance Levels: Discover how to pinpoint key price levels where the market may bounce or reverse, creating potential trading opportunities. ** Fibonacci: Unlock the power of the Fibonacci retracement to identify high-probability trade entry points at the 61.8% level.
Education
by tradingwithanthony
20/11/23 Weekly outlookLast weeks high: $38023.9 Last weeks low: $36284.2 Midpoint: $34544.4 Bitcoin starts the week at almost exactly where it started the previous week, just hovering above the 37k it means BTC had a net neutral price action over the last 7 days. However, midweek saw a 10% range create the highs and the lows before contesting the midpoint. After a strong rally for BTC it looks like 38k is resistance and with ETH struggling to match other altcoins in terms of %gains it leads me to believe that people have rotated their BTC profits and skipped ETH instead preferring to go to newer L1's and smaller cap coins, despite the news of BlackRock's new ETHEREUM ETF proposal. These newer projects haven't experienced a bull market before and tend to have a bigger potential return. For this reason price action leads me to believe that we're getting to the stage of the mini cycle where a lot of people are looking to reinvest the profits they've taken into BTC at lower prices but others want the run to carry on. I think longing into 38K resistance would be difficult, and the market looks to punish late longs generally. Weekly RSI is 74, daily RSI has just dropped below the overbought area after multiple bearish deviations. All TA leads to a retracement and a local high is already in, However, this is sometimes a Fundamental analysis vs Technical analysis battle where the logical answer doesn't always play out and emotions ride high. I'm looking for diagonal support to be held as well as the midpoint from last weeks range to reassure BTC's strength, consolidation under the 38k resistance would be primed to break above and target the 40k big even level.
by ProR35
Conservative bullish USD/JPY setupThe USD/JPY pair is exhibiting a bullish sentiment due to the US's economic resilience and the recent slump of the Yen. The pair is approaching a significant level of 150, which is being closely watched by the market for possible intervention by Japanese monetary authorities. The Federal Reserve and the Bank of Japan's policy decisions, along with upcoming economic events, are expected to significantly influence the pair's movement. Although there's a bullish tendency, caution is advised due to the potential for intervention around the 150 level. Entry Point: 148.50 (on a retracement). Stop Loss: 147.50 (100 pips cushion to manage downside risk). Take Profit 1 (TP1): 150.00 (conservative target considering the potential for intervention around this level). This setup aims to capture a bullish move while exercising caution around the significant 150 level.
Long
by Fexcat
#OIL buying opportunityConsidering the recent bullish momentum in the oil market, characterized by a clear market structure of establishing higher highs and higher lows while respecting to a short-term bullish channel, we anticipate that oil prices will rise from their current low, as depicted on the chart. In addition to the bullish channel, there are other bullish indicators on the chart. Notably, the 1-hour 200EMA (Exponential Moving Average) has consistently provided strong support during this recent bullish phase. Every time the price has approached this EMA, it has turned upwards. Furthermore, the current price level is situated within a 4-hour demand area, which further enhances the possibility of a bullish movement. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
CAPITALCOM:OIL_CRUDELong
by mohemati
1
SUPPORT & RESISTANCE Hey Everyone, Support and resistance is one the most talked about price action component when it comes to technical chart analysis. What is support and resistance? Support and resistance are areas where price fails to continue to rise or drop. Historical areas of rejections create levels of support and resistance. These levels are expected to stop price from a continuation. - SEE EXAMPLE BELOW How can we use support and resistance? Support and resistance levels can be used to take trades from and to close trades on. We will cover the basics of drawing the levels and also identifying rejections and breakouts using support and resistance levels. First and foremost traders draw support and resistance in many different ways. We will cover one of the methods we use to support our signals and trades, which is called "CANDLE BODY CLOSE" See examples below on how to draw the levels, identify rejections and also the breakout strategy. CANDLE BODY CLOSE SUPPORT AND RESISTANCE Failure to close above a level with the candle body forms level of resistance and failure to close below a level with the candle body forms support. Also areas of rejections. CANDLE BODY CLOSE BREAKOUT A candle that is able to close above a resistance or below a support level with the body and not just the wick confirms a breakout of the level for a continuation. This is a fantastic simple way to chart support and resistance levels, that can also be used to support entries and exits by identifying the wick rejections and the candle body breakouts. As always, we will continue to share our chart ideas and useful educational tips for traders. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSDEducation
by Goldviewfx
14