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Support and Resistance

AUD/USD sinks to new lows as focus shifts to Aussie jobs dataWhether you’re talking price action or momentum, AUD/USD looks terrible on the daily, taking out the intersection of the US election lows and downtrend support with ease on Wednesday. Momentum is with the bears; RSI (14) has cut its uptrend like a hot knife through butter while MACD has crossed over from above, confirming the bearish signal. Selling rips and bearish breaks may prove more successful than buying dips in this environment. The short setup would be to sell here or wait for a potential squeeze towards .6513 as traders anticipate another stellar labour force report – there have been plenty of those recently. That would allow for a tight stop to be placed above the level, providing appealing risk-reward for those targeting a retest of key uptrend support at .6375. The last time the Aussie interacted with the level during the Japanese market meltdown of August, it resulted in significant bullish reversal, underlining its technical importance. As such, it looms as an obvious target. Good luck! DS
Editors' picks
Short
by FOREXcom
5
The TradingView Show: Strategy Session with OKX Product PartnerWelcome, TradingViewers! 🚀 Get ready for an exciting and educational live stream designed to empower traders of all levels! In this broadcast, we’ll dive deep into markets starting with a top down research process, looking at the macro picture first, then zooming in to the moves that are shaping markets right now. We'll also dive into Pine Script, the election, recent moves as the year comes to an end, and much more. Our partner OKX has brought on one of their product partners to walk our audience through the charts. Remember: OKX is a partner and integrated broker of ours. Connect your OKX account to your TradingView account to get started by clicking the Trading Panel below the chart. Here’s what we’ll cover: 1. Top-Down Market Research: Start with a macro view of the markets and learn how to break down the big picture to make better, more informed trading decisions. 2. Crypto Market Updates: Get the latest insights and analysis on cryptocurrencies and what’s driving the market right now. 3. Pine Script Deep Dive: Learn how to leverage Pine Script to enhance your trading strategies and build custom indicators on TradingView. 4. Trading the Election & Year-End Moves: Understand how political events and seasonal market shifts are influencing price action as we approach the end of the year. 5. Live Q&A: Have your trading questions answered in real time by industry experts, and get tailored advice to level up your trading skills. Follow OKX on TradingView here: www.tradingview.com Sit back, ask questions, and enjoy the show! Please note: This show is only for education and entertainment.
Editors' picks
B
by TradingView
1
Quiet U.S. calendar provides window for possible silver squeezeA squeeze may be underway in silver with a hammer candle printing on Thursday. Traders took one look at the intersection of uptrend support established in February and horizontal support at $29.66 and baulked, sparking a price reversal often seen around market bottoms. While indictors such as RSI (14) and MACD continue to provide negative signals, favouring a bearish bias, the price signal hints we may see further upside in the near-term. $30.80 is the first topside level of note with the 50-day moving average and $32.18 the next after that. Some traders may want to get long now purely on the price signal, but ensure you use a tight stop given a lack of nearby technical levels to use for protection. Setups with better risk-reward would be to wait for a potential break above $30.80, or a pullback towards uptrend support, allowing for stops to be placed below either level for protection. With a quiet U.S. economic calendar next week, we're unlikely to receive fresh catalysts to push U.S yields and dollar higher. The vacuum creates a window for a countertrend squeeze. A far less dovish Fed rates outlook has already been priced in. Good luck! DS
FOREXCOM:XAGUSD_PER_0.01Long
by FOREXcom
Triple Bottom Pattern Tutorial: 5/8 Bullish Chart PatternsTriple Bottom Pattern Tutorial: 5/8 Bullish Chart Patterns A bullish triple bottom is a reversal chart pattern that signals the potential end of a downtrend and the start of an upward trend. Here's a breakdown: Three Lows: The pattern is characterized by three distinct lows that are roughly equal in price. These lows form after a significant downtrend, indicating strong support at that level. Rallies Between Lows: Each low is separated by two intermediate rallies that create peaks. These peaks form the resistance level known as the neckline. Neckline: The horizontal line connecting the highs of the intermediate rallies is called the neckline. This is a crucial resistance level that the price must break through to confirm the pattern. Breakout: A breakout above the neckline, typically accompanied by increased trading volume, confirms the triple bottom pattern. This breakout signifies a shift in market sentiment from bearish to bullish. Price Target: The expected price target is often calculated by measuring the distance from the pattern's lowest low to the neckline and projecting that distance upwards from the breakout point. Traders view the triple bottom as a strong indication that the selling pressure has been exhausted and that buyers are starting to gain control, suggesting a potential upward price movement.
AMEX:IWMEducation
by RonnieV29
2
Bullish Double Bottom Pattern Tutorial: 4/8 Bullish PatternsGive me the description for a bullish double-bottom A bullish double bottom is a powerful reversal chart pattern that signals the potential end of a downtrend and the beginning of an upward trend. Here’s how it forms: Two Troughs: The pattern starts with a significant price decline, forming a low (the first bottom). The price then rebounds to create a peak (the middle of the "W" shape) but soon declines again to form a second bottom roughly at the same price level as the first bottom. This double bottom resembles the letter "W." Neckline: The horizontal line that connects the peak of the middle rebound is called the neckline. This is a key resistance level that the price needs to break through to confirm the pattern. Breakout: A breakout above the neckline, typically accompanied by increased volume, confirms the double bottom pattern and signals a potential trend reversal from bearish to bullish. Price Target: The estimated price target for the upward move is usually determined by measuring the distance from the bottoms to the neckline and projecting this distance upwards from the point of breakout. Traders view the double bottom as a strong indication that the previous downtrend has exhausted and the bulls are gaining control, leading to a potential significant upward movement.
NYSE:SMREducation
by RonnieV29
Ascending Triangle Pattern Tutorial: 3/8 Bullish PatternsAscending Triangle Pattern Tutorial: 3/8 Bullish Patterns An ascending triangle is a bullish continuation chart pattern that signals the potential for an upward breakout. Here's how it forms: Flat Upper Trendline: The upper trendline is flat, indicating a resistance level where the price consistently faces selling pressure and fails to move higher. Rising Lower Trendline: The lower trendline is ascending, showing higher lows as buyers step in at increasingly higher prices. Price Convergence: The price action gets squeezed between the two trendlines, leading to a tightening range. Breakout: Eventually, the price breaks above the resistance level, indicating a continuation of the upward trend. This breakout is typically accompanied by a surge in volume. Ascending triangles are popular among traders because they offer clear entry and exit points. The height of the triangle, measured from the base to the horizontal resistance, can be used to estimate the potential price target following the breakout. LIKE l FOLLOW l SHARE
NASDAQ:METAEducation
by RonnieV29
Symmetrical Triangle Pattern what is it/ how to draw it? 2/8Symmetrical Triangle Pattern what is it/ how to draw it? 2/8 Bullish Charting Patterns A symmetrical triangle is a chart pattern that forms when the price of an asset converges with two trendlines that are moving towards each other, creating a triangular shape. Here’s how it works: Converging Trendlines: The upper trendline is formed by connecting the descending highs, and the lower trendline is formed by connecting the ascending lows. These trendlines converge at a point called the apex. Volume Decrease: As the pattern develops, trading volume typically decreases, indicating a period of consolidation and indecision in the market. Breakout: Eventually, the price breaks out from the triangle, which can occur in either direction – upwards or downwards. The direction of the breakout often dictates the future trend of the asset. Symmetrical triangles are considered continuation patterns, meaning they usually signal that the prevailing trend (upward or downward) before the pattern will continue after the breakout. Traders often use the height of the triangle (the distance between the initial high and low points) to estimate the potential price target following the breakout. Like l Follow l Share Stay tuned for the other 6 BULLISH CHARTING PATTERNS
NASDAQ:ULTAEducation
by RonnieV29
4
What is a BULL Flag Charting Pattern and How to draw it? 1/8This is video 1/8 of this series of BULLISH Chart Patterns. A bull flag is a continuation pattern that appears in a strong uptrend, signaling that the prevailing upward trend may continue. Here's how it looks: Flag Pole: A sharp, steep rise in price forms the flag pole. Flag: A period of consolidation with lower highs and lower lows, forming a flag that slopes against the prevailing uptrend. Breakout: A strong move upwards out of the flag, confirming the continuation of the uptrend. The bull flag pattern is popular among traders because it provides clear entry and exit points and is relatively easy to identify. It's a great indicator for momentum traders looking to capitalize on the continuation of a bullish trend. Like l Follow l Share Stay tuned for the other 7 BULLISH CHARTING PATTERNS
NASDAQ:GOOGEducation
by RonnieV29
14
Intel - Still Got Another +15% From Here!Intel ( NASDAQ:INTC ) is perfectly respecting structure: Click chart above to see the detailed analysis👆🏻 For more than two decades, Intel has not been trading in any clear trend. We saw a lot of swings towards the upside which were eventually always followed by corrections, making Intel a very easy to trade stock. After the current retest of support, a move higher will eventually follow. Levels to watch: $20, $27 Keep your long term vision, Philip (BasicTrading)
NASDAQ:INTCLong
by basictradingtv
8
FET | ALTCOINS | TOP ALT for coming ALTSEASONFETCH was one of my TOP altcoins for 2024, and has seen some more increases since my lst update. (Find the previous update here :) THIS is the initial introduction to FETCH in January, when I identified this as a good buy for 2024: I'm optimistic for the remainder of 2024; FETCH and other alts will see great increases as soon as BTC takes a breather and trades sideways for a few days. _______________________ BINANCE:FETUSDT
Editors' picks
Long
by CryptoCheck-
8
Bitcoin 100 to 120kIts been awhile since my last video, but I couldn't help but post since its all time highs. Just looking at this wave taken from the low in August, I am targeting 100-120k Right now I think we are in a sub 3 wave and don't expect under 80k. It has been moving fast since November 4th and don't expect a long time holding in this sub wave 4 correction. Possible a larger degree wave 3 ~94-100k that is a needed correction to break through 100k. Want it to hold the 73-75k at this point. Will try to do an update on what I'm expecting for a correction after this move progresses further. Let me know if you want to see other coins or have any questions. I'm trading ETH, ADA , DOGE atm
INDEX:BTCUSDLong
by cryptowaveman
Hang Seng heaviness opens door to downside flush Hang Seng futures look heavy. Friday’s bearish engulfing candle has been followed by two consecutive declines, leaving the price teetering just above horizontal support at 20280. With RSI (14) and MACD providing bearish signals on momentum, the inclination is to sell rallies in the near-term. It may also see a potential break of 20280 stick where so many other attempts have failed recently. If we were to see futures break (and preferably close) below 20280, you could sell with a stop above the level for protection. The May 20 high of 19772 would be the initial trade target, especially with the 50-day moving average located just below. If that level were to be broken, it opens the door to a potential deeper flush to 18500 with only minor support at 18945 located in between. Good luck! DS
HKEX:HSI1!Short
by FOREXcom
Solana - We Will See A New All Time High!Solana ( CRYPTO:SOLUSD ) is preparing for an all time high breakout: Click chart above to see the detailed analysis👆🏻 After dropping -95% in 2022, Solana then rallied an incredible +2.000% and retested the previous all time high. Then we saw a quite long term but tight consolidation and just two months ago, Solana retested the lower support again. It is just a matter of time until we will see a breakout. Levels to watch: $120, $210 Keep your long term vision, Philip (BasicTrading)
CRYPTO:SOLUSDLong
by basictradingtv
10
Is the Kiwi Ready to Bounce? Approaching Key Support!The Kiwi took a major hit in October, dropping sharply from the 0.638 resistance level, which has held strong for over two years. Looking at the weekly chart, we can see that the market has formed a clear range between 0.638 and 0.588—the lower level we’re now approaching. On the daily chart, the initial drop was intense, with strong selling momentum evident in large red candles. However, as the price dropped past the halfway point of the range, momentum began to ease. This slowdown is visible in the smaller, mixed red and green candles. This price action indicates that selling momentum is slowing as we approach the 0.588 level. In fact, the market has now started moving sideways, signaling that buyers may be accumulating at the bottom of the range. Given these signals, I’ll be looking for buy setups using my TRFX Indicator, focusing on the 4-hour to 8-hour timeframes. Ideally, I’d like to see another dip toward or even slightly below 0.59 before entering. The target for this setup is the top of the range, with the setup invalidated by a clear weekly break below the 0.588 support. Let me know what you think below! :)
Long
by TheFxAce
7
The 3-Step Rocket Booster Strategy [3.min Video Review]I had a terrible nightmare, and am really not sure why I placed a trade on Bitcoin even at its all-time high Maybe waiting for the price action to be profitable could be the reason why my nightmares kicked in.. Anyway in this video: ->We review the rocket booster ->Candlestick patterns for CAPITALCOM:GBPJPY ->Resistance levels Watch it right now to learn more Also, rocket boost this content to learn more Disclaimer: Trading is risky please learn risk management and profit-taking strategies because you will lose money whether you like it or not.
Long
by lubosi
GOLD, SILVER, PLATINUM & COPPER Weekly Forecast Nov. 11thThe Metals are at areas of supportive discount arrays, but will they move higher. The latest COT Report indicates the institutional traders are betting on higher prices, even when the assets seem to be in consolidation. Monday is a US bank holiday, and Tuesday may start slow, but I suspect the price action will be clearer come Wednesday. Check the comments section below for updates regarding this analysis throughout the week. Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
NYMEX:PL1!
by RT_Money
5