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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.
Roker1 Roker1 PRO EURUSD, 60, Short ,
EURUSD: Advanced Pattern on EURUSD
291 4 9
EURUSD, 60 Short
Advanced Pattern on EURUSD

Hi guys, very simple setup. On EURUSD we've recently created a double top on the daily chart and price has broken to the downside, giving us reason to believe it's headed lower (RSI divergence is also supporting that). Although the price has increased very rapidly over the last hours, i'm still incline to sell this market and i've also found a valid entry point, ...

AlfredTang AlfredTang USDJPY, D, Short ,
USDJPY: Could USDJPY be heading below 108.50?
195 0 3
USDJPY, D Short
Could USDJPY be heading below 108.50?

USDJPY is currently at a strong support level. Will it bounce or break? I'm inclined to take a sell trade, but I'm going to be very cautious with this idea. Trend is strongly down recently, but the 108.50 line has held quite strongly over the past year. Every time price hit 108.50 in the past year, it shot back up to around 111.05 within a week. The same could ...

Roker1 Roker1 PRO CADCHF, 60, Long ,
CADCHF: Double Bottom on CADCHF
136 0 1
CADCHF, 60 Long
Double Bottom on CADCHF

Hi guys, i've been looking at this pair for the whole week, and now i think i've found a nice trading opportunity for a counter trend trade. As you can see price has created a double bottom with RSI divergence in a zone that was already on my radar for being a daily structure area. RSI is in a divergence also in the higher timeframes and that's confirming my ...

jordanmac jordanmac EURGBP, 1W, Long ,
EURGBP: EURGBP - LONG TERM BUY WEEKLY
39 0 1
EURGBP, 1W Long
EURGBP - LONG TERM BUY WEEKLY

No confirmations. No trade, just a thought. Beautiful Butterfly pattern

Roker1 Roker1 PRO AUDJPY, 1D, Long ,
AUDJPY: Daily structure & Double bottom. AUDJPY long coming?
137 1 5
AUDJPY, 1D Long
Daily structure & Double bottom. AUDJPY long coming?

Hi guys, this is what i'm looking at this morning: as you can see on the left hand side of your screen (daily chart), price is having rough times breaking through 84.50 level. Looking back in the past, you can see this level has played both a role of support and resistance and this is telling us that it could act again as support. As a confirmation, i went down ...

NelsonVanAlden NelsonVanAlden BTCUSD, 240,
BTCUSD: BTC bottom or ABC correction on short term bearish trend
272 0 4
BTCUSD, 240
BTC bottom or ABC correction on short term bearish trend

Follow the arrows. 2 Scenarios. One is a correction, one is a double bottom/higher low. The pipedream you can have for free

Roker1 Roker1 PRO EURGBP, 240, Short ,
EURGBP: Bat Pattern on EURGBP
448 2 12
EURGBP, 240 Short
Bat Pattern on EURGBP

Hi guys, this is a simple harmonic pattern that's unfolding on the 4hr chart on EURGBP. It's going to complete right at a daily structure. I'm going to sell the market at the D point, in expectation of a reversal down to 0.8820 level. Stops above X, targets as shown. If you have questions/ideas, feel free to comment below. Otherwise, see you in the next chart!

enmneves enmneves EURUSD, 120, Short ,
EURUSD: EURUSD
95 0 1
EURUSD, 120 Short
EURUSD

DOUBLE TOP

Roker1 Roker1 PRO CADCHF, 240, Long ,
CADCHF: Long opportunity on CADCHF!
200 3 5
CADCHF, 240 Long
Long opportunity on CADCHF!

Hi guys, as you can see, the yellow box represents a good structure level that seems to be holding price above it. On the daily chart the price has gone oversold at the first touch of the zone and it's now creating a nice divergence on the 4H along with a double bottom. These are all signs that add together and that give me confidence about this trade. Please, ...

Roker1 Roker1 PRO AUDUSD, D, Short ,
AUDUSD: Ready to short AUDUSD
239 4 5
AUDUSD, D Short
Ready to short AUDUSD

Hi guys, this is what i'm looking at today. AUDUSD (and also NZDUSD) is facing a strong resistance zone on the daily and weekly chart. Price is showing RSI divergence on the daily timeframe and also an overbought condition on the weekly. With the right confirmation on the lower timeframes, this could be a nice trading opportunity. Keep you updated! If u have ...

Roker1 Roker1 PRO GBPCHF, 60, Long ,
GBPCHF: Long opportunity on GBPCHF
177 1 4
GBPCHF, 60 Long
Long opportunity on GBPCHF

Hi guys, if you look left you can see that the zone we're testing now is a very important one, that acted both as support and as resistance multiple times. As you may know from my previous analysis, i usually look for trading zones on the daily chart and then go on lower timeframes searching for an additional confirmation of that bias. In this case i want to go ...

mckean mckean BTCUSD, D, Short ,
BTCUSD: BTC down trend to 5800 April
390 0 2
BTCUSD, D Short
BTC down trend to 5800 April

if btc stays in this downward trend 5800 major support needed. but I know nothing. simple chart from a simple mind.

Roker1 Roker1 PRO AUDNZD, 60, Short ,
AUDNZD: Shorting AUDNZD at market!
291 2 6
AUDNZD, 60 Short
Shorting AUDNZD at market!

Hi guys, i've been looking at this pair since the start of this week, and it all played out nicely and therefore i'm taking this opportunity to short the market and try to get some profit out of this pair. The blue box represents a structure zone where i'm expecting price to change in its direction. It also coincides with a deep Gartley formation, and the price ...

Too_Ray1 Too_Ray1 PRO EURUSD, 1D, Long ,
EURUSD: EURUSD LONG
35 0 1
EURUSD, 1D Long
EURUSD LONG

FOREXCOM:EURUSD long

Cruel_Coppinger Cruel_Coppinger BTCUSD, 240,
BTCUSD: BTC 3 day
151 0 2
BTCUSD, 240
BTC 3 day

shomonrobie shomonrobie EURUSD, D, Short ,
EURUSD: EURUSD Short
53 0 1
EURUSD, D Short
EURUSD Short

EURUSD Short .5 Fib Retracement on D chart.

Roker1 Roker1 PRO GBPCHF, D, Long ,
GBPCHF: Long trade on GBPCHF
166 2 6
GBPCHF, D Long
Long trade on GBPCHF

Hi guys, simple setup on GBPCHF. We've recently broke and closed above a daily structure zone and we're back to retest it right now. Price has formed a nice double bottom and it held the structure so far. Therefore, i'm buying this at market and aiming to take first target off at the neckline and possibly second target up at the next daily structure zone. If u ...

Felix000 Felix000 BTCUSD, 120, Long ,
BTCUSD: Bitcoin-A-Buy
10 0 0
BTCUSD, 120 Long
Bitcoin-A-Buy

Have just added in a trend line from my 4 hour chart to the 2 hour chart just in case I need to switch because to a key Bollinger point for me just below $10,100 on the 2 hour chart is looking vulnerable. Otherwise no worries.

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