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Supportlines

Bitcoin will fallingLast week we gave a forecast for Bitcoin's growth to $11,000 and in the end, it was correct. However, this growth can be called corrective. At the current moment, the market is not very active and there is a high weakness of the current growth. Why do we think so? - The growth was on the background of declining volumes - The Stochastic indicator has broken through the overbought line and is turning down. - Consolidation in the $10,100 - $10,300 range was short-lived after huge liquidations of $1 billion. Most near support is $10,000. This is indicated by the Fibonacci grid of March, 12. However, there is great doubt that this level will be able to resist. Earlier, 7 days in a row, the price dropped in the range of $9,800 - $10,000, but then the daily candles invariably closed above $10,000. This could be a sign of purchases at these levels that have sold out in the $10,800 - $11,200 range. Therefore, in the coming weeks, we will again see a fight near $10,000. When this level is taken, the price will quickly decrease to $9,000. Just this level is now the main support for Bitcoin price.
Short
by Crypterium_Analytics
GBPJPY long or short - Supply Demand, Support ResistanceHello Traders ! Chart Analysis: If we look at the GBPJPY it is kind of difficult to determine the correct direction right now. We are right now at an important key level and from here we can expect both direction. The Zones marked on the charts are 2 potential targets. Also we can see a Trend/Resistance Line where the price retested it and got back down. Also we could see a nice daily candle close which shows us this Key Level is a valid Demand Zone. It would be important now to look the lower timeframes for price action confirmation in order to catch the right direction. That was my Idea and I hope you did like it. Please leave a LIKE if you like my Content that I share with you. In the comment section you can tell my your view and ask questions Thank you and we will see next time - Darius.
by DariusFxTrading
1
Really EASY setup for EURUSD. Cheap Mistake!Hi guys, This setup is perfect not because E/U direction is clear, but because it will be SUPER-EASY to realise that you are wrong and this mistake will be CHEAP. But why? E/U closed above 1.10 last Friday and frankly I was tempted to jump in after the breakdown and bet on momentum that will drive pair lower at least till 1.0950. There was some reasonable fundamental context for this trade (weekend close, December tariff uncertainty with Dollar acting a safe-heaven, etc.), but further price action revealed that I was wrong (Thanks God!) and I quickly closed the trade with small profit (Check my last trade bit.ly) And then ...BOOM! you know what has happened, many breakout traders were trapped and are now sitting with their shorts hoping for the pressure to resume. On 4H timeframe you can notice that the support area were largely not violated in the three previous attempts. Current support area is nearly crucial level of 1.10 where long-term trends may be initiated so this trade can be easily converted from short-term to long-term if further price evolution favours that. You may argue that support holding is relatively simple observation but remember that many successful trades have simple setups supporting them. There is no reason to complicate if we can propose simple model that (yeah, Occam's razor). Now turn to the logic of the trade. We have busy economic calendar next week with NFP and looming December 15 tariffs (possible inflection point) which are expected to be gradually clarified by the US-Sino officials. Therefore, the probability that the EU will finally CHOOSE trend is rising. It's good because we look for early entry points and we basically don't care about the trend direction but care about its onset instead. Combining this with the fact that the support remained intact (3 times) there is a reason to expect that E/U will start trending higher. I will bet on this. But if it won't be confirmed we will quickly realise our mistake and get out at SL during 4th, but this time TRUE breakout. TRADE SETUP Entry point: As early as possible after the Monday start, above 1.10. TP: 1.1090 - 1.11, but the trade can be converted to long-term, so I will let part of my profits run if conditions favour. SL: Hard SL at 1.0950. Your likes and questions are the best motivation for me (after money ;). Enjoy and Happy Trading!
Long
by PipVision
XRP will make a strong move next weekXRP will make a strong move next week XRP has entered a downtrend since mid-June 2019. XRP stopped falling when he reached all-time support and kept moving sideways by 4 weeks. This local support coincides with the universal support establish in mid-August 2018, stop price falling and might make price reversal next week. If this support can't hold the price, XRP will make a new all-time low this month, due to panic massive sell-off. From Fibonacci retracement drawing, one can expect the next target for XRPUSDT in case of universal support that will be broken is about $0.17 - $0.18. In the bullish case, the first XRPUSDT target will be MA50, then next targets will be Fibonacci levels.
by Batrachotoxin
How To Drow Propper Support & Resistance Support & resistance is really something that works in all financial markets, it's worth studying how to determine the proper way to finding and drawing it to be able to find the best trades possible available in any given time. I use support & Resistance to find direction, (you can find it on any time frame), The way this works is you connect highs and lows, as you can see in the picture above, you must have at least 2 touches, and of course the more you have the stronger it is, Imagine for example a Floor and a Ceiling. Support is like the floor and Resistance is like the ceiling. what you do before you want to step on a new build floor, how do you know if the floor is strong enough before you step on it, what you do is you obviously step on it once and twice and the more you step on it and the more weight you put on it you gain more and more confident that its strong enough, and the same goes with the ceiling if you punch it once and twice and the ceiling doesn't break you know its a strong ceiling. The same goes in trading when you see the market has hit the same price point 2-3 times you know its a strong point where it's really hard for the market to break through it, it must take a massive amount of effort to break through it, And this you can actually monitor with Volume, How volume works is a whole new thing for itself to explain so I will do another one on Volume or you can check my recents post where I had live trades based on volume and support and resistance. Keep in mind that support and resistance can be determined in any angle as you see on the resistance from the picture above. I hope You Learned A Lot From This I tried Breaking It Down The Simplest Possible For You To Be Able To Understand, But If You Still Have Questions How This Works Don't Be Afraid To Massage Me. Enjoy Your Trading Journey.
by ElyaStein
GBPJPY - MAKE OR BREAK LEVEL?Hi fellow traders, Taking a look at GBPJPY, we are currently in a scenario where we could look to ideally target LONG trades. Though this may be on a monthly time frame, we can see we are approaching and now touching a critical support trend line. It appears that we are in a make or break scenario now, with the high likelihood of a fake out occurring. I would think that this pair should bounce from around 129.000, looking to accelerate as we have been in a solid bearish monthly phase for nearly half a year, now touching PA from around 2016-2017. There is no real significant fundamental news coming out, so this trade is mainly PA & TA. If we do not hold this support level, we have room to swing back lower towards 127.100, a level found from the weekly time frame but I do not consider much of a possibility. Personally, I would consider longs from around 128.000 - 129.000 (enter around 128.500 if price reaches this level) towards the 130.000 as a take profit level as a short term swing trade. There is lot of room for manipulation with this pair. The monthly level is key and I would be cautious with this trade, entering with extremely tight stop losses. If you managed to read it this far down, thanks for reading this! If you could, please do offer your ideas & perspectives on this pair. Buy or Sell and why? Additionally, drop me your charts for it, that'd be great so I can see where you are coming from. I'm a new guy to the FX & Crypto market, trying to learn FX & Crypto, and I'd appreciate any help people may offer! Please drop a follow! I need reputation points!!
Long
by TheFinancialTRDR
Will BTC move sideways within this triangle?Hello everyone! This is my first ever published idea on TradingView. I do this to ask you guys what you think of these two support lines I drew. I am NOT a professional trader, so please don't take this too seriously. I just did this for fun. As you can see the two trendlines line up very nicely with the 6k support and the 3k support (if you go back to march 25th 2017 it even hits the support there too). Will we break out of the upper support soon or will the price get rejected and move to the lower support line?
BITFINEX:BTCUSD
by paul_allen
(Long) NZDCAD - TP April'I'm new to Trading, having only being a TradingView member for a few days so please be mindful when giving criticism & feedback. In this optimistic analysis I was thinking of a long-term LONG on NZDCAD. Having the 1Hr Resistance Line invalidated by the Bullish Spike @ March 12th, I believe the price action to retrace to the drawn trend line. I believe it will follow the trend line upwards towards to the 4Hr resistance line, a nice 110-130pips depending on what point of the trend line you instigate the trade. I am a Premium Student of the Diamond Forex Academy; instagram.com/diamondforex/ My personal tutor is Masum, a Top Author on TradingView; uk.tradingview.com/u/masumhussain/
Long
by Amir_A147
1