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Supportandresitance

EURAUD : Trendline Break RetracementThe pair experienced a strong bearish movement to break the trendline and reach the monthly support level. It now seems to be forming a double bottom on the lower tf before pulling back to retest the broken trendline resistance. This retracement is a common price behavior following a trendline break and offers traders a valuable opportunity to enter the market at a favorable price point. What makes this trading setup even more compelling is the confluence with the monthly pivot point. The broken trendline coincides with the monthly pivot, which often acts as a critical level in many trading strategies. This confluence adds further weight to the potential significance of this area as a resistance zone. Given this setup, we may consider adding buy positions with targets at the broken trendline, coinciding with the monthly pivot, after which we can join the bearish sentiment, with the expectation that the market may continue its downward movement.
Long
by DennisDims
2
Short Opportunity for EUR/USDEUR/USD is currently in a strong downtrend, and a previous trade idea based on the break of the previous day's low and 4-hour support yielded a 40-pip gain . The analysis now indicates a potential opportunity as the price approaches another critical level. If the price breaks below the 4-hour support at 1.06668 and retests this level with an entry confirmation, a short trade is recommended. There are three potential targets: The first target is set at 1.06482, which is a 1-hour support level. The second target is at 1.06319, representing another 1-hour support level. The final target is the previous low of the day at 1.06197. This setup could potentially yield more than 45 pips. Traders should closely monitor the price for entry confirmations and act accordingly. if not price can pullback to 1.07064 level. Please remember to exercise caution and implement appropriate risk management strategies. Trading carries inherent risks, and this idea is not financial advice. Conduct your own research, assess your risk tolerance, and consider seeking guidance from a professional financial advisor as needed.
Short
by Pasindu_BadgerFX
Short Opportunity for EUR/USD with Alternative Bullish ScenarioThe EUR/USD trading pair is currently under analysis, presenting a potential short trade opportunity if the price breaks below the previous day's low at 1.07057 . In this scenario, a downtrend could be signaled, with the next target at the 4-hour support level of 1.06668 . For a safer entry, traders are advised to wait for a retest of the 1.07057 leve l and enter the trade after confirmation of resistance. Place a stop-loss order above the retested resistance level to limit potential losses, and set the take-profit order just above the 4-hour support level. Ensure a favorable risk-reward ratio and align position sizing with your risk tolerance. A comprehensive trading plan, including risk management strategies, is essential. This trade offers a potential 40-pip profit if executed correctly. Alternatively, if the price does not break below the previous day's low and shows a bullish bias, it may target the 4-hour resistance level at 1.07317 , offering a potential 26-pip gain. Traders should monitor price action carefully and consider bullish entry signals if the market exhibits strength in this scenario. Please remember that trading involves risks, and this idea is not financial advice. Conduct your own research, consider your risk tolerance, and consult with a professional financial advisor if necessary.
Short
by Pasindu_BadgerFX
BNB/USDT Chart 4HIntervalHello everyone, I invite you to review the BNB pair to USDT chart. First, we will use the yellow line to determine the downward trend from which the price has moved upwards, moving into the upward trend channel, marked with the blue lines, in which the price moves at the upper limit of the range. Going further, we can move on to marking support areas when we start a larger correction. And here, first of all, we have a support zone from $240 to $231, but if the zone does not maintain support, we may see the price return to the area of the second zone from $217.5 to $207. Looking the other way, we see that the price is fighting in a strong resistance zone from $247 to $255, only when we break out of it and then it is positively tested, we should see a move towards the resistance at $277. When we turn on EMA Cross 50 and 200, we have clear confirmation of the return to a strong upward trend, which should now be watched to see how this indicator will behave further. Please look at the CHOP index, which indicates that the energy is approaching exhaustion, while the RSI and STOCH indicators show that the upper limit has been exceeded, which has stopped further price growth and should result in a price recovery.
by cryptodailyuk
ETH/USDT 4HInterval ChartHello everyone, I invite you to check the current situation of ETH in pair with USDT, again taking into account the four-hour interval. Let's start by defining the yellow line, the sagging trend line, from which the price has moved upwards dynamically and is moving above the upward trend. Let's start by marking support points for the price and we can see that first we have a strong support zone from $1,795 to $1,721, but if this zone does not hold the price, we then have a second strong zone from $1,600 to $1,515. Looking the other way, we can similarly determine the resistance areas that the price must face. And here we see that the price is currently struggling to stay above the resistance at $1,877 so that it can move towards the strong resistance zone from $1,958 to $2,015. The CHOP index indicates a quick rebound and an increase in energy for the next move, the RSI indicator shows that we are again approaching the upper limit, which may result in a stronger rebound, similarly on the STOCH indicator we have touched the upper limit, which should result in a greater price rebound.
by cryptodailyuk
1
BTC Dominance 4HInterval ChartHello everyone, I invite you to review the current situation of BTC's dominance over the rest of the cryptocurrency market. First, we will use the blue lines to define the upward trend channel in which we have been moving for a long time. Now we can move on to marking support areas in case the correction continues to deepen, to determine current supports we will use the Trend Based Fib Extension tool and here we can see the support zone from 52.54% to $52, where the price is currently located, however, we still have support at the level of 51.29%, and then we can see a quick decline to the support level of 49.27%. Looking the other way, we will determine resistance in a similar way. And here you can see that the strong zone from 53.20% to 54.35% reacted strongly to the dominance and rejected its increase, only when we go above this zone can we move towards strong resistance at the level of 57.65%. Please pay attention to the CHOP index, which shows that the current movement is running out of energy, the RSI indicator and the STOCH indicator show that we are exceeding the lower limit, which should stop the current downward movement.
CRYPTOCAP:BTC.D
by cryptodailyuk
BTC Short-Term 1HInterval ChartHello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As you can see, the price is trying to stay above the local downtrend line. After unfolding the Trend Based Fib Extension grid, we can see support at $34,690, and then we have a significant support zone from $34,243 to $33,924. Looking the other way, there is a resistance zone from $35,275 to $35,597, which is currently rejecting the price, while we still have resistance at $36,000. Looking at the CHOP indicator, we see that there is energy to continue the movement, on the RSI indicator we are near the middle of the range, while on the STOCH indicator we are at the upper limit, which may indicate a greater price recovery.
COINBASE:BTCUSD
by cryptodailyuk
1
#GBPJPY buying opportunityHello, traders and friends. Let's analyze the GBPJPY 1-hour timeframe chart and explore a potential buying opportunity in this pair. Yesterday, the price successfully broke above a Daily bearish channel that had been pushing the price lower since August 21st. This impulsive breakout to the upside suggests the potential for the price to move higher, possibly reaching at least the high established yesterday. Another factor supporting our belief in a potential buying opportunity is the bearish corrective move that followed the breakout, indicating no strong overall bearish bias in the price for now. There are several bullish confluences that reinforce our bias, including: The bearish channel's upper line, now acting as support. A demand area on the 1-hour timeframe, coinciding with a static support zone. The price is currently above the 4-hour, 1-hour, and 30-minute 200EMA, all of which serve as critical support levels. The price is currently at the 38% Fibonacci level, and if it reaches the support line, the 50% Fibonacci level will also provide significant support. To consider a long position, we recommend waiting for the price to break the short-term bearish trendline to the upside or looking for candlestick confirmation around the supporting area. by the way If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Long
by mohemati
3
INDUSIND BANK IS ABOUT TO HAVE A NICE UPWARDS RIDE...TECHNICAL INDICATORS : ASCENDING TRIANGLE BREAKOUT - The stock has broken out of the this pattern on weekly chart REVERSAL FROM 50D, 100D, 200D SMA - The stock has also reversed from all the 3 sma simultaneously indicating very strong upside pressure building up REVERSAL FROM STRONG SUPPORT-RESISTANCE ZONE - On top of that the stock has also reversed from a zone which had earlier acted as support and resistance level multiple times FUNDAMENTAL INDICATORS : BETTER PROFIT MARGIN POSTED COMPARED TO ITS PEERS ON THE LAST QUARTER - The stock has also posted almost double profit margin percentage compared to ICICI, Kotak Mahindra and so on. Only SBI has posted same profit margin as indusind and sbi is also trading above all the 3 sma on Daily, Weekly & Monthly timeframes indicating the strength of this stock's upside momentum
NSE:INDUSINDBKLong
by peace_lover
ETH/USDT 1HInterval ReviewHello everyone, let's take a look at the ETH to USDT chart on a one hour time frame. As you can see, the price is moving above the local uptrend line. When we unfold the Trend Based Fib Extension grid, we see a support zone from $1,876 to $1,865, then we have a second zone from $1,836 to $1,816, and then support at $1,756. Looking the other way, you can see the current resistance which has decreased the price at $1913, and then we have a resistance zone from $1941 to $1962. Looking at the CHOP indicator, we see that there is energy for a move, on the RSI indicator we are in the upper part of the range, which gives room for declines, and on the STOCH indicator, the rebound again also creates room for the price to react.
by cryptodailyuk
2
BTC/USDT 4HInterval Review ChartHello everyone, I invite you to review the current situation on BTC in the USDT pair, taking into account the four-hour interval. First, we will mark the local uptrend channel with the blue lines, and then the local downtrend line inside the current channel with the yellow line. When we turn on EMA Cross 10 and 30, we can see that the red EMA Cross 10 line is approaching the intersection of the green EMA Cross 30 line, which could confirm the return to the downtrend. Now we can move on to marking support areas in case the correction deepens. For this purpose, we will use the trend based fib extension tool, and here, first of all, it is worth marking the support zone from $34,383 to $34,114, but when we fall below this zone, we may see a decline to the vicinity of the second zone, which protects us from a larger correction from $33,687 to $33,370. Looking the other way, we can determine resistance areas in a similar way. First, we will mark the resistance zone from $34,790 to $35,196, when it is overcome, the price will move towards the second strong resistance zone from $35,858 to $36,327, which has effectively rejected the price so far. Please pay attention to the CHOP index which indicates that there is still energy to make a move, the RSI indicator shows a movement around the middle of the range with room for the price to recover more, while the STOCH indicator is approaching the lower limit, which may result in an upward movement, but earlier, there is room for another decline.
by cryptodailyuk
6
ATOM/USDT 1D Interval ChartHello everyone, I invite you to review the ATOM chart in pair with USDT, on a one-day time frame. First, we will use the blue lines to mark the downward trend channel in which the price is moving in the lower range, and it is also worth using the yellow line to define the downward trend line from which we can see that the price has gone up. Going further, we can move on to marking support areas in a situation when the price returns to a strong correction, for this purpose we will spread the Fib Retracement grid and we can immediately see that the price is struggling to break out of the very strong support zone from $8.01 to $5.52. Looking the other way, we see that first there is resistance at $10.35, and then we will be able to see an upward movement towards the strong resistance zone from $12.99 to $14.81. Please look at the CHOP index, which indicates that there is still energy for a move, the RSI indicator approached the upper limit, which resulted in another rebound, similarly you can see on the STOCH indicator that when it went up, from the upper limit of the range, the price started to turn back and you can see that I have room for a bigger drop.
by cryptodailyuk
BTC possible next move.here is my insight on BTC, as expected BTC did bounce in the zone I placed from my previous analysis. BTC might try to go range, or try the highs because of the divergence in lower timeframe before going down to retest the support. I placed the possible entry for long: 1. previous high 2. 50% of the previous gap. Ofcourse this might go lower, touch the middle of the channel maybe. Overall I'm still bullish but still expecting some pullbacks before going up again. #BTCUSDT This is not a financial advice, It is not 100% guarantee, and I only share base on what I see. Still DYOR, and TYOR ^-^! just giving you a possible next scenario in my perspective. Happy trading everyone, hope you will have a profitable year.
by itsmeharuru
BTC 1H Interval Short-TermHello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As you can see, the price remains above the local upward trend line. When we spread the trend based fib extension grid, we can determine the support zone from $35,321 to $34,925, and then we have support at $34,264. Looking the other way, we have a visible zone from $35,785 to $36,003, and then we have a second zone from $36,233 to $36,562. Please look at the RSI indicator, which is moving in the upper part of the range, which may bring a price decline, while the STOCH indicator indicates that there is still some room for the price to recover.
by cryptodailyuk
State of Bitcoin (November)A daily chart on BITCOIN is very simple to dissect, what BITCOIN will do from here is not so easy to work out. The idea is to plan for what to do at the key levels and everything else in-between is just noise that wants to take your money. How I see BTC is what you see in the chart: - The immediate attention is drawn to the ascending triangle BTC currently finds itself in, these patterns can be bullish or bearish depending on the direction of the breakout. the trend is currently bullish and that plays a factor in the outcome. - What was previously a bearish OB at the 32k level has been flipped but not retested for support yet, if the ascending triangle fails or bulls run out of momentum the most likely plan would be to drop to that level. - The next bearish OB is sat 22% higher than that 32k level at ~38k, before that there really isn't much resistance. - In the longer term, a matter of months I think the best possible buy zone is the FVG at 19-20k area. That would be a no brainer buy and hold for the next several years. We've seen a deviation below that area and the reclaim is what started this rally. I would estimate that this is the absolute floor for BTC now, especially when the ETF's are approved and the halving comes into play. - If this FVG isn't filled the next best place is the S/R level at 25k but as we can see on the chart, the third time testing an area it usually gives way so for me 25k doesn't look like it would hold another retest. I do think max pain would be just keep squeezing higher while everyone is waiting for one more dip, I myself would like one more dip but every eventuality must be planned for.
BINANCE:BTCUSD
by ProR35
#DXY more bullish outlookHello, everyone. I hope you're all having a great week. Let's analyze the DXY chart and try to make some predictions for the upcoming week. Last week, the price was rejected from the important low indicated on the chart and also established a new 4-hour high, as evident in the chart. Consequently, the market structure in the 4-hour time frame is now in alignment with the higher time frame, daily market structure, and they both exhibit a bullish trend. Given this scenario, our primary interest lies in taking long positions in high-probability trading zones. These zones could be around the short-term low marked with an arrow or during a pullback to the broken short-term bearish trendline. In the meantime, as we await the price to reach these levels, we will closely monitor the market. Once the price approaches these areas, we will be looking for confirmation signals before considering our trades.
TVC:DXYLong
by mohemati
2
XRP/USDT 1D Interval Chart Overview of the XRP pair to USDT chart, on a one-day time frame. First, the yellow line will mark the downward trend from which the price has moved into the sideways trend channel marked with blue lines. Moving forward, we can move on to marking support areas when the price starts to reverse. And here the most important support point is the zone from $0.50 to $0.46, which protects against a larger price drop. Looking the other way, we see that the price has reached an important resistance level at $0.62, which it has no strength to break yet. However, if we manage to break above this resistance, we can move further towards the strong resistance zone from $0.74 to $0.82. As we can see, the place where the red ema cross 10 line crosses the green ema cross 30 line from below confirmed the transition to a local upward trend. Please look at the CHOP index, which indicates that there is still some energy left for movement, on the RSI indicator we are approaching the upper limit, which may limit the room for further growth, the STOCH indicator also exceeds the upper limit, which may also result in a rebound of the current increase.
by cryptodailyuk
1
ETH/USDT 1H Interval Chart Short-TermI invite you to review the chart of ETH in pair with USDT, also on a one-hour time frame. Here we have a visible movement along the local lateral trend line, which we mark with the yellow line, what's more, we can see that we are currently approaching touching the previously mentioned trend line for the third time. When we turn on Ema Cross 10 and 30, we can see that the red ema cross 10 line crosses the green ema cross 30 line from above, which indicates a transition into a local downtrend, we should watch whether the upward trend line will maintain the price. Now let's move on to marking the support places. We will use the Trend Based Fib Extension tool to mark supports, and here we see that the price has returned to the support zone from $1,800 to $1,782, leaving this zone at the bottom may result in a drop to the area of the second zone from $1,753 to $1,732, which protects us from a larger price drop. Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here we have the first very strong resistance in the zone from $1,833 to $1,848, and then visible resistance at $1,867. The CHOP Index indicates that there is still some energy left to move. The RSI indicator returned to the lower part of the range, but when we look at the STOCH indicator we can see that we have approached the lower limit, which ended the current decline and may allow for another attempt at price recovery in the coming hours.
by cryptodailyuk
BTC Short-Term 1HInterval ChartHello everyone, I invite you to review the current situation on BTC in the USDT pair, taking into account the one-hour interval. First, we will use the yellow line to mark the local upward trend line above which the price is staying. At this point, it is also worth marking the side trend channel with the blue lines where the price is in its upper part. Now we can move on to marking support areas when the correction begins to deepen. And after unfolding the Fib Retracement grid, we can see that we are currently in the support zone from $34,516 to $34,304, but when the price breaks down, we still have a second important zone from $33,959 to $33,716, and then support at the lower border of the channel at $33,402. Looking the other way, in a similar way, using the same fib retracement tool, we can determine the places of resistance. First of all, we will mark an important resistance zone from $34,746 to $35,109, which for now discourages any attempt to increase, but when we manage to come out on top and then test it positively, we will move towards the resistance at $36,164, only when the price overcomes it. it will go further towards $40,000. Please pay attention to the CHOP index which indicates that there is still energy to make a move, on the RSI indicator we are moving in a sideways trend near the middle of the range, while on the STOCH indicator the current price drop brings the indicator closer to the lower limit, which may result in a renewed trying to increase the price.
by cryptodailyuk
BNB/USDT 1DInterval ChartHello everyone, I invite you to review the BNB chart in pair with USDT, also on a one-day time frame. First of all, we can use the yellow line to mark the downward trend line from which the price went up. Now let's move on to marking the support places. We will use the Fib Retracement tool to mark supports, and as you can see, first there is a support zone from $224 to $220, but then we can see a decline to the very strong zone from $209 to $202. Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here you can see that the price has been rejected by the resistance zone from $231 to $238, only when we break above it will we move towards the resistance at $248. When we turn on EMA Cross 50 and 200, we can see that we are still in a strong downtrend, staying below the blue line of EMA Cross 200. The CHOP Index indicates that there is still energy left for a move. On the RSI, we are moving in the upper part of the range, but when we look at the STOCH indicator, the visible rebound creates room for a potential further price increase.
by cryptodailyuk