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Support and Resistance

Euro can decline to support level and then continue to move upHello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price some time ago rebounded from the resistance line of the wedge and fell to the support line, which coincided with the resistance level and started to grow. In a short time, EUR rose to the resistance line and then started to decline, thereby exiting from the wedge. Price continued to decline inside the downward channel, where it broke the 1.1000 level, which coincided with the seller zone and reached the support line, but at once rebounded and made a retest. Then it continued to fall and later reached the 1.0760 support level, which coincided with the buyer zone, after which turned around and bounced to the resistance line. Euro exited from the channel and continued to grow near the resistance line. When the price reached 1.0825 points, it made a downward impulse, thereby breaking the 1.0760 level, but a not long time ago it turned around and rose back. At the moment, the Euro trades near the support level, and in my mind, the price can correct to the support level and then continue to move up. Therefore I set my TP at 1.0900 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
11
BITCOIN → Is the $100K target becoming more and more realistic? BINANCE:BTCUSD is in the bull run phase and updating highs due to the excitement of the US presidential election. After 8 months, there are finally reasons for the price to come out of the prolonged accumulation. Now the distribution. BTC has one bullish driver after another as it approaches ATH: Trump's victory in the US presidential election. Then the second 0.25% Fed rate cut in this cycle Discussions about BTC as a strategic reserve. Next is the SEC. Trump promised to get rid of the head of the SEC, so the choice will be made in favor of a more loyal to cryptocurrencies person. In general, the fundamental background for cryptocurrencies is very bullish, altcoins may finally go straight to the moon. Technically, bitcoin has a key resistance of 76900 at the moment, as well as key support zones, which is worth paying attention to as the price has been forming a local accumulation for two days. Accordingly, the move may continue in the near term. Resistance levels: 76900 Support levels: 75650, 74560, 73550 The price is squeezing in front of the resistance, which may lead to a breakout. But, the liquidity is decreasing on the weekend, which may lead to a small correction, for example, to 75650 or other areas lower on the chart. We can't talk about any selling now, the reason is obvious, so we are looking for strong resistance levels (to continue the movement), or strong support levels (to bounce with the purpose of buying). The target of 100K is becoming more and more real ;) Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSDT ;) Regards R. Linda!
Long
by RLinda
20
Bitcoin Roadmap==>>Correction SignsBitcoin ( BINANCE:BTCUSDT )is moving near the Upper line of the Ascending Channel and Potential Reversal Zone(PRZ) , which acts as a Resistance line . According to the Elliott wave theory , Bitcoin has completed main wave 5 with the help of Ending Diagonal , and we should wait for Corrective Waves . Note ( Education ): The Ending Diagonal is the Rising Wedge Pattern in terms of Classic Technical Analysis . Also, Regular Divergence(RD-) between Consecutive Peaks in MACD and RSI and Volume Indicators . Note : Since trading volume is usually low on Saturdays and Sundays , we can expect the main corrective movement to happen at the beginning of the next week . I expect Bitcoin to have a corrective trend in the coming week , considering that there are attractive volumes for liquidating long positions at lower prices , as well as the technical analysis that I talked about above. Of course, from November 13 to November 15, important indexes will be released from the USA(Core CPI m/m, CPI m/m, CPI y/y, Core PPI m/m, PPI m/m, Unemployment Claims, Core Retail Sales m/m, Retail Sales m/m) , which can impact Bitcoin's main trend . ⚠️Note: We can expect more pumps if Bitcoin breaks the Potential Reversal Zone(PRZ) ⚠️ Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰. 🔔Be sure to follow the updated ideas.🔔 Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
7
Mastering the Anchored Volume Profile: Setup & Tutorial on TVMastering the Anchored Volume Profile: Setup & Tutorial on TradingView 📊 The Anchored Volume Profile is a powerful tool that traders use to visualize volume distribution over a specified price range, providing critical insights into market behavior. Here’s a detailed description of its setup and usage on TradingView: In this video, we will be going in-depth into the following areas: What is the Anchored Volume Profile? The Anchored Volume Profile is a specialized indicator that helps traders understand the distribution of traded volume at different price levels. Unlike traditional volume profiles that analyze data over a fixed time period, the anchored version allows traders to anchor the volume analysis to specific bars, candles, or price points. Why Use the Anchored Volume Profile? Identifying Support and Resistance Levels: You can easily identify key support and resistance levels by analyzing where the most volume has been traded. Spotting Trends and Reversals: High-volume nodes can indicate areas of strong interest, helping to predict potential trend continuations or reversals. Improving Entry and Exit Points: Knowing where the market participants are most active can significantly enhance your decision-making process for entries and exits. How to set up the Anchored Volume Profile on TradingView: Add the Anchored Volume Profile Indicator: Click on the “Indicators” button at the top of the chart. Search for “Anchored Volume Profile” in the search bar. Select it from the list and apply it to your chart. Anchor the Indicator: Click on the anchor icon that appears on the chart. Drag it to the specific bar, candle, or price point where you want to start your volume analysis. Customize Settings: Adjust the settings to suit your trading style. You can modify the range, color, and other parameters to better visualize the data. Using the Anchored Volume Profile: Analyzing Volume Nodes: Identify high and low volume nodes. High volume nodes often act as support or resistance, while low volume nodes might indicate potential breakout areas. Understanding Market Sentiment: See where the majority of trading activity has taken place to gauge market sentiment. Making Informed Decisions: Use the insights from the volume profile to make better-informed trading decisions regarding entries, exits, and stop-loss levels.
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NASDAQ:TSLAEducation
by RonnieV29
6
PEPEUSDT Pennant Breakout: Ready for Lift-Off? BINANCE:PEPEUSDT has just broken out of a bullish pennant formation, hinting at a potential strong upmove. Recently, it formed an inverse head and shoulders pattern that led to impressive gains, and now, with this breakout, we could see a similar rally. This setup mirrors BINANCE:DOGEUSDT ’s previous path, suggesting a possible bullish follow-through. As always, trade with caution. Set your stop loss to manage risk and make the most of this opportunity safely. Trade smart, and let’s see where BINANCE:PEPEUSDT takes us! OKX:PEPEUSDT.P trading at $0.000011 Buy level: Above $0.00001 Stop loss: Below $0.0000077 TP1: $0.000013 TP2: $0.000017 TP3: $0.000025 TP4: $0.00005 Max Leverage 2x Follow Our Tradingview Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts
Long
by GreenCryptoTrades
1
S&P 500 - Why everyone is probably wrong.Popular YouTube channels, financial media, everyone is talking about the great big crash of 2023 to come. Everyone is probably wrong. Why? The chart stupid. The recent breakout of resistance is seen by many as a bull trap. Maybe. I see a backtest of past resistance and price action landing on the golden ratio. There’s something else, however. The Life cross. A life cross is defined as: 1) The 50-day SMA crossing up the 200-day SMA AND 2) Price action above the 200-day SMA. But WW this cross is a fake out! There’s no evidence to support that. Have studied the last 60 years of life crosses on the index. Do you know how many printed a false signal? 0. Nadda. Not one. Ww The last 20 years of life crosses.. July 8th, 2020 April 1st 2019 April 26th, 2016 February 1st, 2012 October 22nd, 2010 June 20th, 2009 September 12th 2006 November 10th, 2004 May 16th, 2003
SP:SPXLong
by without_worries
66
Alikze »» ENJ | Descending channel - 4H🔍 Technical analysis: Wave 3 or C bullish scenario - 4H - In the 4-hour time frame, according to the previous analysis , after the support in the range of 0.1465, it faced demand, which was able to grow to the middle of the channel. - It faced selling pressure in the middle of the channel, which led to a zigzag correction to the 0.122 range. - It is currently moving in a descending channel, which is at the ceiling of the channel and there is also a supply zone. - Therefore, in case of selling pressure, it can face support in the specified limits or green box and lead to a price growth up to the specified supply area. 💎 In addition, it should be noted that if the green box is broken, the bullish scenario is validated and can have another corrective leg. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:ENJUSDT
Long
by alikze
2
Super update, adding Adding to my SUPER bags here as I consolidate some losers into winners. I am taking some AVAX, SEI and ROSE into Super today as it consolidates between these two fibs. Tokens that are lower lowers on the monthly vs. BTC likely will not move much compared to trending tokens. Super is my largest gaming bet, and now after these additions my largest altcoin holding. Although this stochastic is cooling off, I expect the token to remain in this range based on the wicks I have seen the prior several weeks. There is a very strong resistance at 1.45. My 2.3 EOY target remains, we could see a much stronger move though if my thesis on SUPER being the gaming leader plays out. I am trying out a new indicator courtesy of Krown and Caretaker, BBWP.
Long
by Apollo_21mil
4
Incoming 50% collapse to $70 for AirBnb“Airbnb a tech company and its founder and CEO Brian Chesky isn't shy about that.” source: hotelsmag.com It’s an online letting agent! A $86 billion one at that. Feels like WeWork Déjà vu all all over again. A landlord with a cool name and a website now becomes a tech company. AirBnb was always on my list for accommodation searches when travelling. Today a hotel is almost always my first choice, even if that is for a stay of up to 10 days. What changed? 1) Affordability. I draw the line when the cost of a mediocre “key-code” to enter AirBnb accommodation matches that of a 4 or 5 star hotel. I don’t know what hosts are thinking. One possibility is servicing overstretched mortgage costs. 2) Gentrification. Affordable housing has been swallowed up by landlords as they exchange from longterm to short term holiday lets in the pursuit of more money. The landlords can’t be blamed when interest rates have been so low, but the effect on city centres is evident. One city centre I visited a few months ago, the whole townhouse was AirBnb’d divided into several units. Depressing. I think we’re now on the verge of a swell of those Landlords selling up as it becomes clearer with each month there are easier ways to make money whilst not holding onto an overpriced asset. If I’m correct, the selling pressure will ultimately impact the business model, charging overpricd fees. Speaking of fees.. 3) Cleaning fees. Don’t get me started. Imagine checking out of a hotel “And your cleaning fee...” The technical analysis On the above weekly chart: 1) Price action and RSI support breakouts have printed. 2) Broken market structure. This is a perfect technical example of broken market structure confirming resistance from the last higher low. A trend reversal is now confirmed. 3) The Bear flag has confirmed. Past support confirms as strong rejection. Price action is forecast to strike $70 Is it possible price action continues to print upwards and onwards? Sure. Is it probable? No. Ww
NASDAQ:ABNBShort
by without_worries
2
THE KOG REPORT - Update End of week update from us here at KOG: An absolutely blinding week on Gold in Camelot this week with our Excalibur and Excalibur LiTE targets completing, on top of that our bias levels working well hitting our bias level targets. The election projection we gave worked well in terms of the levels, we got the move down we wanted, we got the bounces we wanted and hopefully you can also see how well these red boxes are working on the charts taking us level to level. To close, we have support below 2675 and resistance 2705 while the fight to close above the 2700 level continues. We have a target below but the entry was way above, this is protected and managed so we'll await the close. We'll be back on Sunday with the KOG Report and our view for the week ahead. For now, wishing you all a great weekend ahead. As always, trade safe. KOG
OANDA:XAUUSD
by KnightsofGold
1
DJT a winner in life. A winner in the market? Hello Traders, Quite obvious large wedge pattern emerging here, with price action sitting on a solid support. If it breaks support below shown on the chart, we will more likely than not, come down between $10 & $11. This would have course be our best entry point. Could it happen? OF COURSE, this is why we do TA! It is to assure we have a plan for all possibilities and minimize risk along the way! That being said, where price action is currently, we could very likely start next week with a green candle and continue it through mid week and if so my plan is to start buying some contracts If the week closes green. Possibly a few if we get two green closes M & T. it’s very likely to break out in the next month or two. Maybe within another 1-2 weeks. If we see a solid green candle close next week. In addition, look at that massive sell volume that couldn’t even break support. My money is on the bounce and then breakout here where we stand! Best of luck and always follow the path of less resistance and have a plan for a diverging outcome! This is law if you want to be consistently profitable! Stay Profitable, Savvys
NASDAQ:DJTLong
by Crypto_Kinfolk
6