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Support and Resistance

Support and Resistance is one of the most used techniques in technical analysis based on a concept that's easy to understand but difficult to master. It identifies price levels where historically the price reacted either by reversing or at least by slowing down and prior price behavior at these levels can leave clues for future price behavior. There are many different ways to identify these levels and to apply them in trading. Support and Resistance levels can be identifiable turning points, areas of congestion or psychological levels (round numbers that traders attach significance to). The higher the timeframe, the more relevant the levels become.

Finding the most important ones can take many hours of practice. They exist due to an influx of buyers or sellers at key junctures. The fact that these levels flip roles between support and resistance can be used to determine the range of a market, trade reversals, bounces or breakouts. Each of these trades will have their own rules for entry and exit. TradingView has a smart drawing tool that allows users to visually identify these levels on a chart.
Sublime_Trading Sublime_Trading GBPUSD, 1D, Long ,
GBPUSD: The GBPUSD Fails to Break Resistance
61 0 1
The GBPUSD Fails to Break Resistance

We last posted on the GBPUSD on April 17th when price was testing and attempting to break throught the pivot resistance high of January. What we wanted to see was price break and close above this pivot resistance confirming it as support. This would then have offered a long entry into the trend with around 600 pips of profit on the table towards the next key ...

Roker1 Roker1 CADCHF, 60, Short ,
211 0 5
CADCHF, 60 Short
2618 on CADCHF

Hi guys, this is on of the pairs i'm going to be looking at over the next days. And the reason why is pretty simple to explain: if you go on the daily timeframe you'll see price is dancing around a very important level of structure (yellow box) and in doing so it has created a bearish engulfing candle pointing downside (in RSI overbought conditions). If we lower ...

Sublime_Trading Sublime_Trading CHFJPY, 1D, Short ,
CHFJPY: The CHFJPY Looking To Push Through Support
57 0 4
CHFJPY, 1D Short
The CHFJPY Looking To Push Through Support

We last posted on the CHFJPY on March 19th when price has broken through pivot support which triggered us into a short trade. As has been the feature of FX, this has since been a slow mover, with price moving into profit and then pulling back to our entry point and remaining in consolidation since. However, the moves of last week have looked for more promising ...

ArminZed ArminZed EURUSD, 1M,
EURUSD: EUR USD  ( Long-Term Analysis )
578 4 12
EUR USD ( Long-Term Analysis )

If you like to trade long-term, this is what I see, hope it helps. Good luck! Would you like to receive more charts, please follow me :)

Sublime_Trading Sublime_Trading GBPUSD, 1D, Long ,
GBPUSD: Will The GBPUSD Break Through Resistance?
133 0 2
Will The GBPUSD Break Through Resistance?

We last posted on the GBPUSD on April 13th when price was approaching a key pivot resistance from January of this year. Looking at the daily chart, price is now at that resistance level and we can see the expected struggle between the bulls and the bears. It is at these levels where many will try and pick the top a trend and hope for a reversal. As price is in ...

Sublime_Trading Sublime_Trading EURSEK, 1D, Long ,
EURSEK: The EURSEK Triggering Long Trades
37 0 1
The EURSEK Triggering Long Trades

The EURSEK is new to our blogs but one we do have long positions in play on. Yesterday, we featured the GBPSEK and the emergence of a possible bull trend. The EURSEK is looking just as appealing with a slightly more advanced setup with price action and hence why our long trades were placed. Like several currencies that we have highlighted, this currency was ...

Harrytrader2017 Harrytrader2017 NZDUSD, 240, Long ,
NZDUSD: NZDUSD LONG 15 - 20/04/18
83 1 0
NZDUSD, 240 Long
NZDUSD LONG 15 - 20/04/18

Last leg up to hit fresh supply zone for shorts *LONG*

Sublime_Trading Sublime_Trading USDTRY, 1D, Long ,
USDTRY: The USDTRY Steams Ahead
54 0 1
The USDTRY Steams Ahead

We last posted on the USDTRY on April 6th when price had broken and closed above pivot resistance. Prior to that, price had been in a consolidation that stretched back to November of last year. The longer the consolidation, the bigger the breakout is the expression and we would like that to hold true for this currency. Price has seen three strong bullish days ...

vnee vnee BTCUSD, 1D,
BTCUSD: watching on 4000$
401 0 4
watching on 4000$

"The whole game between $ 7,000, $ 5,800, $ 3,500." There is a serious possibility of lowering to 4000 (in the future), All depends on whether the price will cross 7000 (0.6 per Fibonacci), after that - the correction from 5800 (4th wave), and continuation of the decline from 7000 to 3500-4000 (5th wave).But if now the price will rebound from 7000 - it is a ...

Sublime_Trading Sublime_Trading EURUSD, 1D, Long ,
EURUSD: EURUSD Remains in Consolidation
100 0 2
EURUSD Remains in Consolidation

There has not been much change on the EURUSD since our last post on February 28th. Back then, we were waiting for a breakout and we can see that there has not been much change since then. Price has remained in consolidation and we still require a break and close above the 2018 high. Price still very much has a bullish bias to it as it is trading above the 200SMA ...

Akil_Stokes Akil_Stokes EURJPY, 240, Short ,
EURJPY: EURJPY: Potential Bearish Gartley Formation after the LLLC
2710 9 29
EURJPY, 240 Short
EURJPY: Potential Bearish Gartley Formation after the LLLC

Hey traders! Looking at a potential bearish Advanced Gartley Formation setting up here on the EURJPY 0.00% . LOOKING LEFT at the predicted "D" completion price you'll also notice that this level has recently been respected as both previous structure support and resistance . The "A" leg of the Gartley Formation also represents a break and close below previous ...

Roker1 Roker1 GBPAUD, 60, Short ,
GBPAUD: Harmonic trading on GBPAUD
141 0 5
GBPAUD, 60 Short
Harmonic trading on GBPAUD

Hi guys, as you can see this idea is pretty simple. I'm looking at this pattern because its completion point comes right around a very important level of structure (in this case resistance) and it will give me a nice RR opportunity. If you have any idea/question, feel free to comment below. Otherwise, see you in the next chart!

Sublime_Trading Sublime_Trading EURTRY, 1D, Long ,
EURTRY: The EURTRY Closes Above 5.0000
45 0 2
The EURTRY Closes Above 5.0000

We posted on the EURTRY for the first time on Sunday explaining that price had broken out of long term consolidation and was trending nicely towards the major resistance level of 5.0000. It is at these levels where many would enter short positions trying to pick tops. It is a difficult and inconsistent approach as it involves guess work which often leads to ...

Roker1 Roker1 GBPNZD, 60, Long ,
GBPNZD: Long setup on GBPNZD
119 0 2
GBPNZD, 60 Long
Long setup on GBPNZD

Hi guys, on the higher timeframes, like the daily, this pair is in an uptrend, because it broke to the upside the most recent resistance (upper black line). Now, until we broke a support to the downside, the trend will be considered bullish. Therefore, it makes sense to look for trading opportunities on lower timeframes, when we see there's higher timeframe ...

Roker1 Roker1 NZDJPY, 60, Long ,
NZDJPY: 2618 trade opportunity on NZDJPY
75 0 2
NZDJPY, 60 Long
2618 trade opportunity on NZDJPY

Hi guys, here on NZDJPY we've just tested a very important level on the daily timeframe, while creating a double bottom with RSI divergence on the lower timeframe (4H). This is a clear sign of reversal and could point to a change in trend on a long term basis (especially in the location we're). One of the way that you can trade double bottoms is by waiting for a ...

GregoryRubio GregoryRubio SPOT, 15, Long ,
SPOT: short term break through if it hits former support!next goal160$
3 0 0
SPOT, 15 Long
short term break through if it hits former support!next goal160$


martenus.prince martenus.prince NZDUSD, 240, Short ,
NZDUSD: USD is doing great, let's go bears!
8 0 0
NZDUSD, 240 Short
USD is doing great, let's go bears!

We now stopped in the shorter-term channel at the bottom and we have two options. I am in favour of more downtrend. That is why I setup a second entry as sell stop. I also have a great position from the top of the channel in a short position. I can collect my profits if the trend reverses and price bounces.

5 0 0

Looking for Support from a key level on Gold before going LONG

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