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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 EURAUD, 60, Short ,
EURAUD: Short trade on EURAUD
131 0 2
EURAUD, 60 Short
Short trade on EURAUD

Hi all, i've been looking at this pair over the last days, and it finally turned into a trading opportunity right now. The blue zone is a structure zone in which price has lately been very sensitive and it's also been a zone in which price has gone overbought on the 4hr chart, also creating a short candlestick with an engulfing candle. Moreover, on the hourly ...

jasperlawler jasperlawler XAUUSD, 1W, Short ,
XAUUSD: Bearish outside week ominous for GOLD - 1290/92 resistance
50 0 1
XAUUSD, 1W Short
Bearish outside week ominous for GOLD - 1290/92 resistance

Main bearish argument The bearish engulfing candlestick which engulfs the prior 3 weeks means lower prices to come Entry? Any rebound could be capped at $1290-92, previous support and 50% Fib of cent leg lower Alternative bullish argument A rising trend line connecting the July 17 and Dec 17 lows could be support for a longer term uptrend

davidmag davidmag USDCAD, 1D,
USDCAD: USDCAD opportunity
157 2 3
USDCAD, 1D
USDCAD opportunity

Interesting area of chart I have been watching for a while now. I will be looking for a bounce of the trend-line and/or consolidation around this area.

Roker1 Roker1 CADJPY, 60, Short ,
CADJPY: Short with harmonics on CADJPY
93 0 1
CADJPY, 60 Short
Short with harmonics on CADJPY

Hi guys, not so much on my charts these days (at least for my eyes), but i've been able to find this nice setup on the hourly chart. It's a bearish bat formation that's going to complete in a strong structure level (both daily and 4H) and i'm going to get in as soon as the price will touch the D completion point because of the higher trend and because it's a nice ...

Roker1 Roker1 EURNZD, 60, Long ,
EURNZD: Opportunity LONG on EURNZD
162 0 2
EURNZD, 60 Long
Opportunity LONG on EURNZD

Hi guys, on the daily chart EURNZD is in oversold condition and it's also testing a key structure zone. That's why i've highlighted the yellow box that you see above. In cases like this, i like to go on smaller timeframes looking for additional clues to take a trade. In this case i've found multiple hints: first of all, on the 4H chart we can see a couple of ...

Sublime_Trading Sublime_Trading GBPUSD, 1D, Short ,
GBPUSD: Weakness on The GBPUSD
88 0 1
GBPUSD, 1D Short
Weakness on The GBPUSD

Last post: June 10th. See chart. Review: Price had pulled back to a resistance zone and producing indecision candles, a good sign of exhaustion in the pullback. Update: Price has weakened over 100 pips today but a break and close of the pivot support is still required. Conclusion: Standing aside until the low of May is cleared for entry points into the bear ...

Sublime_Trading Sublime_Trading NDX, 1D, Long ,
NDX: Breakout Confirmed on NDX
49 0 2
NDX, 1D Long
Breakout Confirmed on NDX

Last post: May 29th. See chart. Review: Price was trading just below resistance. A break and close above was required to suggest a bull trend continuation. Update: The break and close was confirmed by the close of trading yesterday. Conclusion: A bull trend continuation is now required to give confidence in the next bull run in stocks. Any comments or ...

Roker1 Roker1 EURGBP, 60, Long ,
EURGBP: Gartley Pattern on EURGBP
98 0 2
EURGBP, 60 Long
Gartley Pattern on EURGBP

Hi guys, very simple setup: a Gartley pattern on the 4H chart that's just been triggered. I wasn't on my computer so i'm placing my order now, if price will hit the D point again, then i'll be in. Make sure to put your stop loss below the X point. As for targets, i've used as usual the 38.2 and 61.8 Fibonacci retracement of the AD leg. If you have ...

Roker1 Roker1 EURJPY, 60, Long ,
EURJPY: Reversal on EURJPY? I think so
187 0 2
EURJPY, 60 Long
Reversal on EURJPY? I think so

Hi guys, this is the hourly chart on EURJPY and i'm taking this long trade because of several reasons. First of all, we're in a strong supporto zone on the daily chart and we're also creating a nice divergence on the RSI there. Then, if we lower a timefeame (4H), you can see a couple of pinbars (candles with long wick to the bottom) signaling buying pressure ...

Forex_Academy Forex_Academy AUDUSD, 1W, Long ,
AUDUSD: AUDUSD Long-Term Outlook
71 0 1
AUDUSD, 1W Long
AUDUSD Long-Term Outlook

The AUDUSD pair is making a strong comeback inside the slightly upward channel. If history repeats itself we wll we see the price of the pair touch the uppwad channel whithin 12 weeks from now.

Sublime_Trading Sublime_Trading EURCHF, 1D, Long ,
EURCHF: 1.2000 Holds Strong on The EURCHF
56 1 4
EURCHF, 1D Long
1.2000 Holds Strong on The EURCHF

Last post: April 29th. See chart. Review: Waiting for price to break and close above 1.2000 resistance to suggest a bull trend continuation. Update: The breakout failed to materialise with the bears coming in strong. Conclusion: Standing aside and focusing on trends in progress. Any comments or questions, do not hesitate to leave them below. Hit agree if ...

Sublime_Trading Sublime_Trading TRYJPY, 1D, Short ,
TRYJPY: Will The TRYJPY Break Pivot Support?
66 0 2
TRYJPY, 1D Short
Will The TRYJPY Break Pivot Support?

While the other JPY currencies that we have posted about, such as the AUDJPY, the CHFJPY and the USDJPY, continue to pullback or remain firmly in consolidation, the TRYJPY is leading the way for a possible breakout and trend continuation. We last posted on the TRYJPY on April 4th when price had pulled back to and found resistance at a previous pivot level. Since ...

claudino80 claudino80 EURCAD, 1D, Long ,
EURCAD: EURCAD Long
3 0 0
EURCAD, 1D Long
EURCAD Long

Breakout and pullback on Long Term resistance.

Sublime_Trading Sublime_Trading GBPUSD, 1D, Short ,
GBPUSD: Short Trade Triggered on The GBPUSD
13 0 0
GBPUSD, 1D Short
Short Trade Triggered on The GBPUSD

Last post: June 19th. See chart. Review: Price was trading below pivot support but needed an end of day close below support to offer an entry point to go short. Update: Price closed below support after which we placed our entry order. The short trade was triggered today. Conclusion: Price has reversed but we expect price to move against us first. Would now ...

ewilliams ewilliams NZDCAD, 240, Long ,
NZDCAD: NZDCAD TRADE 21/06/2018
3 0 0
NZDCAD, 240 Long
NZDCAD TRADE 21/06/2018

Well what do you know? I've taken this trade ! I mean why leave pips on the table if they are available. These are the risks I feel I have to take in order to get the results. 1 thing I want to add is that the 3 pin pattern is not complete

ewilliams ewilliams NZDCAD, 240, Long ,
NZDCAD: NZDCAD TRADE IDEA 21/06/08
7 0 0
NZDCAD, 240 Long
NZDCAD TRADE IDEA 21/06/08

I am not in this trade but I thought I might aswell test my analysis on this pair. with not much written down expect for the 3 pin patter off the key level. I would take this trade but my account is with other trades. But If I could squeeze another position is would be this.

jasperlawler jasperlawler DAX, 240, Short ,
DAX: DAX setting up for break of key 12600 level
19 0 0
DAX, 240 Short
DAX setting up for break of key 12600 level

Main bearish outlook-- Another break of the long term rising trendline is bearish Shallow rebound from 12610 low on June 19 has ended- setting up re-test and likely break of 12600 Next key support could be 12400 Bullish alternative 12600 level holds, maintaining trading range enrivonment (level is significant because it was resistance after the February sell-off ...

jasperlawler jasperlawler GBPUSD, 240, Short ,
GBPUSD: Brexit Vote to determine if GBPUSD downtrend resumes
34 0 0
GBPUSD, 240 Short
Brexit Vote to determine if GBPUSD downtrend resumes

The break below previous support at 1.32 amid a strong downtrend signals lower prices Two possible scenarios after today's vote in UK parliament over Brexit A) former support at 1.32 is resistance and downtrend resumes toward 1.305 B) price closes back above 1.32 signalling a rangebound market and an eventual re-test of 1.347

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