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Supportzones

Support zone instead of simple support (Bitcoin fake breakouts)Sometimes just a simple line is not working and this is the time that zone gets its meaning. so instead of using so many lines, we can use <> and create some support and resistance zones instead of simple support and resistance. here take look at the Bitcoin example in previous weeks: But let's take look at the 30K support zone instead of the 30K support: and let's take look at Forex and the same scenario: here take look at the USDCAD example in the previous month: But let's take look at the 1.2060 support zone instead of the 1.2060 support: <<👍hope you enjoy👍 >>
BITSTAMP:BTCUSDEducation
by MMBTtrader
38
HD Triple Support Convergence1. Home Depot is nearing three distinct support indicators that converge at the 290.00-300.00 range. The 200 EMA, trend line from October 2019, and trend line from March 2020 all meet within the 290.00-300.00 range. Price currently sits above this range, and tested 300.00 in the previous few months. The three supports in this range should serve as a launch point for price, and price can retest the support before more upside. 2. The lower end of the support zone (290.00) was a notable resistance point on two different occasions during October 2020. Now it acts as a strong support, and price should hold on to this level with much strength. It is a good confirmation to the other trend lines. 3. Relative strength index shows a repeated pattern that has been followed by significant upside on two recent occasions. For RSI to reform this pattern, price needs to pull back to the support level and consolidate. After a confirmation of the support level and a reset of RSI, shares can move decisively to upside.
NYSE:HDLong
by desai0820
PLTR Testing Make or Break Supports1. Palantir is nearing a strong support zone (21.00-22.50) that it recently reclaimed. The support zone was reclaimed quickly after breaking, solidifying the strength at and beneath 21.00. Price just bounced at the top of the zone, yet I believe it will fall through to test the bottom of the support zone and consolidate within the zone briefly, reaffirming strength above 21.00. A powerful move to establish an uptrend could follow this confirmation and consolidation. Testing of 21.00 would also complete an inverse head and shoulders pattern. 2. Above the support zone, the next level is a 27.50 resistance. ARKW sold 13.1%. of their shares at this level last week. ARKW still holds a large majority of their shares and demonstrated good profit taking with the small sale, after purchasing upwards of 4 million shares in 2021. ARKW's sale caused some shake out of weak hands and brought shares down to the 22.50 support level. Shaking weak hands and ARK's aggressive bullish direction on PLTR are both good signs. 3. After some consolidation, I think shares can test the 27.50 resistance prior to August 12th earnings. After a test of 27.50 around earnings, a strong report could push shares above the resistance, and confirm that shares have re-entered an uptrend.
PLong
by desai0820
Is GOLD planning a SELL OFF to 1572??Gold is on my watchlist for the coming week, as always, I focus on assets I want to trade during the week. We have seen a Major SUPPORT ZONE around February, 2020, and a retest creating a consolidation to the SUPPORT ZONE around April - May of 2020, a successful break-out seeing the price rally to the ATH in 2020 with a steady decline to the SUPPORT ZONE in November 2020. Fast forward to the current PRICE ACTION, we see a consolidation and a Bullish break out at the SUPPORT ZONE that occurred around November 2020. A second consolidation is ongoing at the SUPPORT ZONE which I expect a break below with strong Bearish Candle, also if you look closely at the 200 EMA which there was a rejection from the previous candle before the candle which eventually broke below the Dynamic Support, the consolidation just below the support is a valid confirmation when you add the DOTS together. Things to note; 1) SUPPORT ZONE from November 2020, there is consolidation currently happening at the SUPPORT ZONE. 2) Dynamic Support now Resistance with consolidation acting below it. A successful break out of the consolidation forcing the price to sell below the SUPPORT ZONE from November 2020, we will see the price rallying to the next SUPPORT from February 2020. Another clear break below February 2020 ZONE should see GOLD rallying to 1572.
OANDA:XAUUSDShort
by MII1502
Ethereum it's into this strong support; buy the dip!!!Ethereum it's look interesting to hold, invest or buy Ethereum contract. For that, I decide to buy just 1.40 Ethereum contract as I have a margin of 3,433 ADA coins. For that, if you look this psycology and strategy. Ethereum it's in the strong pivot that could to be bullish in this point. We look firstbly that Ethereum was into this simetric triangle in formation, but broke down and then, we see that Ethereum it's in the psycological point that we consider a strong support and in 3 occasion, Ethereum make this strong support that it's an important level to hold Ethereum above of $2,000 USD. My counsel for amateur it's beware putting short position in Ethereum, becuase in that zone, and based in my other experience that I havened wiith others cryptocurrencies like Chainlink it's forming a repeating pattern that I consider in my trading day-to-day Guys, if you like this analysis, please hand up, share this information with others amateuris and traders or people who thinking to trade Ethereum or cryptocurrencies to know my perspective. ' In minutes, I will going to post here a Chainlink past analysis of this chartist pattern that I see in the past in this cryptocurrency. But for now, it's may to repeat with Ethereum.
COINBASE:ETHUSDLong
by harisonhbn9718
NZDJPY Good opportunity for buyersBased on the chart movement, a good support of buyers is observable and it made a good uptrend on the chart. So at this situation I prefer to come with trend and do a trend surfing. Also price reached a support level and today we can see the reaction of buyers which leads to have a green day by it. Therefore I prefer to be buyer at this area with a good risk reward ratio to me (about 1:3). Note: As always please take risk management rules into consideration before opening any position on the market. Good Luck!
Long
by Brian_Philips
STMX TESTING OLD SUPPORT!The price on 16 march has experienced a pullback and formed a support zone between 4 and 5 cents. Following that the price has risen to around 9 cents and failed to break that level but it formed an upward trendline that was tested around 7 times. I believe that the price has decreased to test the previous support zone. This idea is backed by a possible formation of a channel where the price will bounce before rising again in addition to taking into consideration that the 50EMA will soon enter this support zone making it harder to break.
SLong
by rodrader
1
Trend Reactionary Numbers Natural Contraction & ExpansionThrough trail and error and years of experimenting I discovered that Price movements determine FUTURE Price movements. Markets have a dominate tendency to exhibit support and resistance at price points defined by percentage increases and declines of past Peak to Trough movements and vice versa. I was able to approximate the ideal ratio values to determine these future points of support and resistance . These levels have become my propriety Trend Reactionary Numbers that through natural market movements need to be adjusted. You will ascertain with the help of my TRNS that market movements assemble themselves into a few conspicuous types of action that have a certain orderliness. This orderliness is the price expression of human nature, or market psychology it is where we get to watch what drives traders to do what they do. It is a picture of the most powerful human habits. The habits of Fear, Hope and Greed are all charted out for us to observe and take advantage of.
Long
by Tommygunn
MXC in a channel, about to break out?Hi. In this chart I've plotted one resistance line and one support line, both quite short term. With these two I've also plotted two more long term zones: One wide diagonal support zone that has played out since April 2020. Its very strong and if broken could be a strong indicator of a trend turn. One tall resistance zone that while not very strong could still indicate roughly the height that the price could go if it goes sharply bullish in the near future. With this I've also included an MA 56 to reinforce the strength of the support zone as the MA has danced along it for a long time. I've also included a MACD to assist in any predictions regarding impending price movement. To me it indicates an impending short term bull run, as it could be about to cross the 0 line. In conclusion: MXC is still in a strong bull run and has been for a year. There are no signs that a trend reversal is impending and with the recent price spikes I would conclude that the price wants to rise above the resistance zone plotted and MXC could be a solid investment for long term investors with perhaps the only downside being a longer ROI. For short term investors the impending resistance zone break could be a nice spike to go long on, as plotted with price points. Thank you. Please, if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods with you. This does not constitute financial advice. Any projected prices, even if explicitly stated, are made with intent to discuss the symbol and potential interpretations. Any trades shown or mentioned are examples and neither recommendations or mandates.
AMEX:MXCLong
by Kabeldon
Trend Reactionary Numbers Natural Contraction & ExpansionMY DAILY RANT : As prices advance and decline the Market creates new important foot prints for astute traders to gain clues from. In my opinion the market is creating mini Waves that are at first random based on the two main factors of market traders personalities, Fear and Greed. When the market has expanded into new territory or reacted down into new territory the hourly, daily and weekly fluctuations are very difficult to forecast. This is where the masses lose capital. In the market the crowd is wrong 90% of the time because the majority of traders are following current price movements, those that followed earliest have the greatest chance to profit, however, they do not know when to escape and tend to lose the gains that were luckily attained {once again to emotions of Greed and Fear, a never ending vicious circle for the neophyte}. In short most traders do not like to think or study it is not an easy task. Thinking and Study require patience and effort. I once read a profound statement "Patience is not a virtue of the weak". That short statement helped me immensely, I was once guilty of all those market sins and more which I will detail in future posts. Now back to the task at hand, the explanation. My take on the market has evolved through my 30 years of active market participation, and one major {for me } paradigm shift occurred when I shifted away from the temporal use of Time. I realized that having a temporal Belief was creating confusion in slow or fast moving markets. Whenever you create confusion it produces frustration which creates non-adaptive behavior that gets you STUCK and that creates losses. I would bet that 99% of the traders that are reading this post if asked for their definitions of short, intermediate, and long term would respond in some sort of time factor. Many would say that short term is 3 days or less, Intermediate is 2 weeks and long term is monthly or some combination of those time factors. These widely used terms and definitions over time {no pun intended} did not serve me well. They may be appropriate for the non professional trader to describe how long he wishes to hold a position or to describe market movements as he understands them, but not for the professional. I had come to realize that due to increased volatility, speed of market news dissemination and Blog Factors {think Game Stop for example} market movements that in the past took weeks or months are now being completed in days or sometimes hours. I adopted different descriptions of short, intermediate, and long term to percentage price movements instead of specific time intervals. This one shift in beliefs allowed me to see mathematically how far a market moved and at what speed it was moving {based on the time factor}. It gave me an ability to realize an Intermediate move{for example} was happening very quickly and that alerted me to look for escape levels for profits or to cut a loser. Consider These Percentages: Ultra Short Term 1/2 % {.005} - 1.9% Short Term 2% - 2.99% Standard Term 3.0% - 3.99% Medium Term 4%- 5.99% Standard Medium Term 6% - 8.99% Long Term 9% and above. Through trail and error and years of experimenting I discovered that Price movements determine FUTURE Price movements. Markets have a dominate tendency to exhibit support and resistance at price points defined by percentage increases and declines of past Peak to Trough movements and vice versa. I was able to approximate the ideal ratio values to determine these future points of support and resistance. These levels have become my propriety Trend Reactionary Numbers that through natural market movements need to be adjusted. You will ascertain with the help of my TRNS that market movements assemble themselves into a few conspicuous types of action that have a certain orderliness. This orderliness is the price expression of human nature , or market psychology it is where we get to watch what drives traders to do what they do. It is a picture of the most powerful human habits. The habits of Fear, Hope and Greed are all charted out for us to observe and take advantage of.
BITSTAMP:BTCUSD
by Tommygunn
CRT about to hit diagonal support and turn upward?Hi. In this 1D chart you will see a potential diagonal resistance and a diagonal support that together create a channel within which the price has moved. I've also attempted to define a resistance turned support zone that together with the support diagonal creates a clear turning point for the price to move off of and return to an upward direction. Both the MACD and Williams in the chart indicate a current downturn in the price but still plenty of space to return to upward. I've included two potential long trades that could be made if the price moves off of the support diagonal. A short could also be made if you anticipate that the price will break through the support diagonal and head further downward. Thank you. Please, if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods with you. This does not constitute financial advice. Any projected prices, even if explicitly stated, are made with intent to discuss the symbol and potential interpretations. Any trades shown or mentioned are examples and neither recommendations or mandates.
NYSE:CRTLong
by Kabeldon