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Support and Resistance

GBPAUD Selling Trading IdeaHello Traders In This Chart GBP/AUD 4 HOURLY Forex Forecast By FOREX PLANET today GBP/AUD analysis 👆 🟢This Chart includes_ (GBP/AUD market update) 🟢What is The Next Opportunity on GBP/AUD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexMasters2000
Gold’s Key Support at RiskGold is once again in a downtrend, and the key level to watch is the support zone between 2618-2609. If this support holds, gold may form a double bottom, increasing the chances of a rebound. However, if the support breaks, this could likely be the final leg of a five-wave downtrend, and the decline could be the largest of the current cycle, potentially breaking below 2600 and reaching 2580, or even lower.If you're looking to go long on gold (trend trading), you will need to wait for the end of the five-wave decline and for a clear bottoming pattern to form before making your move.
OANDA:XAUUSDShort
by TradingGuide_Dean
THE KOG REPORT - UpdateEnd of day update from us here at KOG: We wanted price to attempt the 2710 region on open where we wanted to long into the 2720-25 region. We did get the stretch, and then the move up which is where we said we would monitor the level for the break. We wanted the break, didn't get it, Red boxes were saying no, it's a short from that level, and the move down that we wanted from higher up presented itself. All through the early hours, some got it, most didn't. We then managed to get in on the long from that 2660-65 region netting over 100pips on the move before protecting and BE the trade, which shortly did in fact close at BE after taking what we wanted. Now, we've done the move we actually wanted all in one day and we stand at the support level of 2620 which needs to hold us up in order to get an Asian session move up towards the 2645 region initially which is where we want to wait and see what kind of reaction we get. We did mention to expect the quick turnaround that can correct the whole move, we just wanted higher and didn't expect it this soon. So a close here flips us into resistance, which if we hold will take us lower into the 2610 and below that 2595 region. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
10
GBPAUD Wave Analysis 27 November 2024 - GBPAUD broke daily down channel - Likely to rise to resistance level 1.9600 GBPAUD currency pair today broke the resistance trendline of the daily down channel from the end of October (which encloses the earlier downward ABC correction (2) – which stopped earlier at the support level 1.9275). The breakout of this down channel should accelerate the active impulse wave (3) – which belongs to the higher order impulse wave 3 from October. GBPAUD currency pair can be expected to rise to the next resistance level 1.9600 (former top of wave B of the previous ABC correction (2)).
Long
by FxProGlobal
#AXSUSDT #1D (Bybit) Big falling wedge breakoutAxie Infinity regained 50MA support after a long downtrend, looks ready for mid-term recovery towards 200MA resistance. ⚡️⚡️ #AXS/USDT ⚡️⚡️ Exchanges: ByBit USDT Signal Type: Regular (Long) Leverage: Isolated (2.0X) Amount: 4.6% Current Price: 5.202 Entry Targets: 1) 4.854 Take-Profit Targets: 1) 6.947 Stop Targets: 1) 3.805 Published By: @Zblaba NYSE:AXS BYBIT:AXSUSDT.P #Axie #NFT #P2E axieinfinity.com Risk/Reward= 1:2.0 Expected Profit= +86.2% Possible Loss= -43.2% Estimated Gaintime= 1-2 months
Long
by TradingOn
2
Is HOOKUSDT Preparing for a Big Move? Don't Miss This Key MomentYello Paradisers! Have you noticed HOOKUSDT broken out of the resistance trendline recently? This could be the setup we've been waiting for 👀 💎HOOKUSDT has broken out of its resistance trendline, and after a consolidation, it's showing signs of a Cup & Handle pattern, with bullish divergence strengthening the case for a potential upward move. 💎If HOOKUSDT breaks out and closes a candle above the resistance zone, this will validate the pattern, significantly increasing the probability of a bullish reversal from here. 💎However, in case of a retracement, a bounce from the support zone is likely, but to increase our probability, we’d want to see a bullish I-CHoCH (Internal Change of Character). 💎If the price breaks down and closes candle below the support zone, it will invalidate our bullish setup. In that scenario, it’s better to wait for clearer, stronger price action before making any moves. 🎖Patience is key here. Whether we see a breakout or breakdown, it’s important to follow the strategy and wait for high-probability setups. Consistency, not impulse, is how you succeed in this game. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
2
PREPARING FOR THE CORRECTIONGBP/JPY 1H - Now that price has played out and traded us lower, giving us the opportunity to short this market I believe its now going to put in a corrective wave. You can see the short opportunity we were provided with at the start of the week and how much we could have stretched out profits should we have wanted to, the potential there was crazy and made for a good trade. A big well done to anyone who got involved in that move from the Sunday Sessions video, now though we want to see a break in the last protective high as that would confirm a reversal or change in trend. As we know a break in structure tells us that one trend is ending and a new one is beginning, so by price breaking the last protected high it does infact break structure to the upside meaning we are following the laws of bullishness rather than bearishness.
Long
by Lukegforex
EURUSD H1 28/11/2024 - SELL below 1.0510 OR BUY above 1.0560Key Levels from M30 and H1 Support Levels: 1.0520–1.0510 Zone: Currently holding as local support (aligned with Fibonacci 100% and Ichimoku baseline on H1). 1.0500: Psychological support level, aligns with the Fibonacci 161.8% extension. Resistance Levels: 1.0553–1.0560 Zone: A consolidation resistance zone marked by Fibonacci 38.2% and near-term highs. 1.0580: Fibonacci 61.8% retracement level, strong resistance on the D1 chart. Trendlines: H1 chart shows a downward-sloping trendline from recent highs, indicating potential bearish pressure unless broken. Momentum Indicators: RSI (H1): Around 52, neutral but tilting bearish. Stochastic (H1): Bullish crossover from oversold on M30, but H1 is still near neutral (around 34). MACD (H1): Showing mild bearish divergence but flattening. Volatility (ATR): ATR (H1): 11 pips, suggesting moderate price movement potential. Scenario A: Bearish Breakdown Trade Rationale: If the price breaks below the 1.0520–1.0510 support zone, it could test lower levels like 1.0500 or 1.0450. Setup Details: Entry Price: 1.0510 (below Ichimoku support and 100% Fibonacci level). Stop-Loss: 1.0535 (above the downward-sloping trendline and consolidation resistance). Take-Profit Levels: TP1: 1.0500 (psychological level). TP2: 1.0475 (previous lows, close to Fibonacci 261.8%). Risk/Reward Ratio: ~1:2. Scenario B: Bullish Reversal Trade Rationale: If the price breaks above the 1.0553–1.0560 resistance zone, it could retest higher levels like 1.0580 or higher. Setup Details: Entry Price: 1.0560 (above consolidation and Fibonacci 38.2%). Stop-Loss: 1.0530 (below the breakout zone). Take-Profit Levels: TP1: 1.0580 (Fibonacci 61.8%). TP2: 1.0596 (next significant high). Risk/Reward Ratio: ~1:2.
Short
by napoleon182