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Keylevels

ETH: Waiting for Daily Candle Close above $4385Into at least the first half of 2022 I'm bullish on cryptocurrency due to inflation expectations. The $4385 price point, being the May 12th all time high, has established itself as a key psychological level. After failing as support on Nov 16th, multiple attempts to break it have failed. Today, we once again broke $4385, and for the first time the level has successfully held as support when tested on the hourly timeframe. To me, this indicates the past two weeks' accumulation phase is nearly complete. If today's daily candle closes above it, I'm long to the $4771-$4868 region. For more conservative traders, I would recommend waiting for two daily candle closes.
COINBASE:ETHUSDLong
by SnowZulu
1
Major Pairs Key Levels: Nov.22 - Nov.26Hi everyone, Hope you have enjoyed the weekend. Every week, I mark weekly levels for each currency pair to see how price reacts to them. As you see in the charts, I have marked the last Week's and Last Month’s Highs and Lows for the 6 major pairs (actually they are 7 but there was no room for NZADUSD, but you can do that one by yourself as a practice) Why are these levels important to us? Because they are kind of support and resistance levels and when price approaches to them, any breakout or rejection on these levels is very important: (Lows act like support and Highs act like resistance). So, take a note for yourself and apply them on your chart to have an efficient setup for key levels. Mn : Monthly (Red Lines) , W: Weekly (Yellow Lines)
by Mahtab_Tradia
4
4 Types of Trading Confirmations"Wait for this confirmation!" "Look for this confirmation!" When I first began my trading journey, these are phrases that I kept seeing get thrown around and had no clue what it meant! What am I supposed to be looking for? What do these confirmations exactly mean? It quickly began to get frustrating and confusing... Then eventually, things started to click one piece after another. Confirmations are a fundamental part of your trading and must be fully understood if you want to be successful in this game. So, what is a confirmation? Well, it depends on many different scenarios, but in this post I will talk about 4 of the most common forms of confirmations with examples! 1️⃣ Price Action When analysing many different instruments whether that is forex currencies, crypto projects or even stocks. You will often see when searching for trading opportunities that there are various confirmations that price will give clues about on the chart that we can trade from. Price action & candlestick patterns are one of the strongest form of confluences as far as confirmations in trading go. They can be accurate reflections of the current market sentiment and gives you clues of what price is trying to communicate with you. Making them very reliable when used in the right hands of course. Different types of price action confirmations such as doji's, pin bars, double top/bottoms & engulfing candlesticks have been proven by history time & time again to be a reliable method of identifying and predicting future market movements and is a major part of my technical analysis. But, is it a good habit to instantly place a trade as soon as we see one of these confirmations? Short answer, NO! I wish it could be that simple... Trading with only one price action confluence will soon bring inconsistencies into your results and will negatively impact your overall success rate. Instead, we need multiple confluences layered on top of one another to give us the best chance of predicting where price will head next. 2️⃣ Indicators Whether you're purely a price action trader or an indicator heavy trader. From simple moving averages to complex computer algorithms, indicators play a big role in the trading industry. Being 100% objective and removing all psychological aspects through providing real numbers, figures and data. They can be extremely beneficial to certain traders when it comes to carrying out their technical analysis. For many traders, the various signals from indicators are considered to be accurate and reliable information. However, all indicators share one negative thing in common and that is that they are all lagging . Meaning the data provided is not a live representation since it uses previous price action to pull its data and is unable to account for what is happening in the market in the right here, right now. Often resulting in traders missing out on the big power moves, getting into positions too late or executing trades with bad risk:reward setups. Not to mention the potential for many traders to rely on indicators too much and begin to lose their own edge in the market (imagine a double edged sword if you will). 3️⃣ Fundamentals Which are figures deriving from news events such as in an economic calendar, news & tweets etc. Actual fundamental news can become your best confirmation tool. However, the main obstacle right here is the promptness, validity and reliability of the data that you get. The information shouldn't be delayed and it must be objectively true. The search for such a source is by itself is a very time-consuming and labor-intensive business not even mentioning its potential costs. And that is not all. Knowing how to make sense of that data, its proper perception, and understanding requires a solid economical and financial background and experience. At the end of the day, becoming an expert in fundamental analysis, the trader can easily sort the trading zones and trade only the ones that are confirmed by a decent fundamental trigger. 4️⃣ Key Levels Us retail traders unfortunately don't control the market. There is an average of $5 trillion flowing in and out of the foreign exchange market every single day! And the majority of this trading volume comes from the big institutional players such as banks & hedge funds etc. Therefore, it's important to know where these big players are buying/selling & why... When analysing you pairs, you'll often see that price will naturally be magnetised to specific key levels. For example, key whole round figures that end in 0's & 50's such as 1.5000 or 1.5500. These are called psychological levels which the institutional market participants like to trade around purely for ease of mind. These levels on various pairs have stayed the same for decades and for many years in the future and is one important form of a key level. Trading these key levels will allow you to find great liquidity zones, rejection areas and break + retest setups.
Education
by NimmoCapital
NQ Power Range Report with FIB Ext - 10/26/2021 SessionContract - CME_MINI:NQZ2021 - PR High: 15543.50 - PR Low: 15523.75 Evening Stats - Gap: = N/A - Session Open ATR: 212.62 - Volume: 24k - Open Int: 240k - Trend Grade: Long - From ATH: -0.5% (Rounded) Key Levels (Rounded - Think of these as a range) - Long: 15819 - Mid: 15247 - Short: 14676 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
CME_MINI:NQZ2021Long
by mv3trader5
Bearish Trendline Respected What About The Bullish CounterTrendGold is still technically in a downtrend overall according to the daily timeframe. It rejected off the trendline for the 4th time last week, so we may possibly break the monthly to continue to swing sell. I've created a pullback trendline underneath to wait for a bullish continuation, or a break of the BULL trendline as additional confirmation of the bearish trend. BEAR TPS: • 1760.25 • 1750.37 • 1741.66 • 1726.44 ]b]BULL TPS: • 1772.14 • 1781.97 • 1793.93 • 1800.75
FX:XAUUSD
by NikaJourney
1
Major Pullback Due To Determine Bull ContinuationWe passed the monthly zone area of 156.552, but never retested the break of the zone. So it may test the monthly zone as support. If it fails as support, then price will push through to find its higher low at the daily zone of 154.859 or further down at the weekly zone around 152.594. I haven't made the 4-hour zones yet to have all my Bull TPs. I'll add them and update it in the comments as a record. BEAR TPS: • 155.383 • 155.800 (If monthly fails as support) • 155.041 • 154.258 • 153.473 • 152.704 BULL TPS: • 158.552 • 160.007
by NikaJourney
ZILUSDT 4h - Buy OpportunityEntry zone: $0.099 to $0.101 Stop loss: $0.09 1st target: $0.116 2nd target: $0.1345 Beware of being hunted around $0.09, it could be a second entry point if the price drops suddenly, but we should wait and see the price action and the volume . I will buy with half of the money I set aside for this position, and I will wait at the hunting point with the other half. Trend Key Points Indicator have been used to draw important key levels and key points.
Long
by bhnmzm
2
Cool Entry Strategy - Bullish Engulfing in Key LevelsYou are here to read about one of my best crypto-tested entry strategies, Bullish Engulfing in Key Levels . It’s a price action strategy and I’m going to explain its details but, even if you are not good at price action stuff, you could use it as well as I can. There are no requirements for dealing with this strategy except using two indicators. The base success rate of this strategy was over 60% for me and by applying some filters and considering some best practices and being experienced in it, I could increase its success rate up to 76%. This strategy is a combination of a Bullish engulfing candlestick pattern, pivot points, and key levels. By key level, I mean a trend line or a horizontal resistance/support line drawn by you or your added indicator. We can assume the base requirement of the strategy meet if a Bullish Engulfing (BE) pattern takes place near a key level or a pivot point. We will use the Trend Key Point indicator to draw horizontal key levels and key points. It marks pivot points with a sign above and below the candles. If the pivot point is important, the indicator will draw a horizontal line as a key level. In this strategy the LL pivots are important to us. All necessary details will be applied to your chart by adding the indicator to it. You can also read more about Trend Key Point guide and best practices here . There is also an indicator for finding and highlighting Bullish Engulfing patterns called Common Candlestick Patterns . By adding the indicator, you will see too many highlighted patterns because there are active by default. Therefore, after adding the indicator to your chart, you need to open its options and uncheck all except the Show Bullish Engulfing one to highlight just Bullish Engulfing patterns. After adding indicators, you need to wait and capture entry points in a suitable state. But there are some tips and best practices we need to jot down to distinguish between good and bad states and increase the success rate of the strategy. I list below: Ignore a BE pattern that does not occur at a key level or is far from key levels. It’s a good sign if the BE pattern occurs on an LL pivot point (a candle that has a star under it) which meets a key level. BE pattern must have an acceptable and strong body. You can ignore weak candles. Ignore the BE pattern formed just below a resistance or potential reversal area. It excites me to see a BE pattern at the lower point of the price but a BE at the end of correction sounds good too. If the BE pattern occurs on the LL pivot seeing a key level and the volume also confirms that by crossing the VMA20 (volume moving average length 20), you can enter definitively. If the entry requirements are met, the closing price of the BE pattern will be my entry point. Do not enter if the green candle of the BE pattern is abnormally big. You can wait for a pullback or you can ignore the pattern. BE pattern in the bottom of a range box could also be a good chance to enter but you have to be careful where the range is. As you read before, this article is about finding the entry point and after clarifying that it's time to find out where you need to put your stop loss and your take profit but, these topics not fit in this article. You can refer to the other available resources covering these topics. Both of the indicators mentioned are developed by myself, so I tried to apply my best practices to them. I hope it was useful for you. Feel free to submit your comment to improve the strategy or the indicators.
by bhnmzm
2
AMZN support and resistance in daily NASDAQ:AMZN Hey everyone . So in short term timeframes (1H , 4H) AMZN is moving in a descending channel which is leading price to two strong support levels : 3175.00 and the second support level which is 2900.00 well of course for investors the price 2900.00 is very nice to enter But for traders 3175 can be very nice after bullish confirmations (candles , divergences ect ..) at this price this is just technical analysis and we must see what's gonna happen to #DXY and U.S economy and also the company earnings report in further weeks , so also don't forget about fundamental analysis . Anyway it's better to watch #AMZN for this week and next week . what's your idea about this stock guys ?
NASDAQ:AMZN
by mahdirhimi
it's so possible for USDJPY to fall when the market opens OANDA:USDJPY hello guys , I hope you're all well and having nice time . let's see USDJPY now , I think the bears are entering right away for a nice short , but we need to hold on and wait for the candle to be closed and also we must take the confirmations . As we can see in the chart 1- the price has touched a very important resistance with 3 touches , so our resistance is very strong . 2- the momentum has decreased and it's becoming bearish 3- RSI is in overbought range (77) 4- there is also a bearish divergence (RSI) in 1h timeframe 5- there is a bearish cross on MACD but in 1h timeframe So must we go a short ? I also show the important support and resistance levels in the chart : 111.650 110.800 110.400 110.155 109.600 109.120 108.770 so your taking profit is better to be set on one of mentioned levels but anyway it's your personal decision according to your trading strategy , personality and your risk and and money management .
Short
by mahdirhimi
Upward Movement ExpectedA strong move may cause an up break for the range box and TL1. I will enter if that happened with a good candle. I also could wait for a pullback to the range box to enter. My stop loss or second buy could be around $0.9 according to the candle's status. and I'll take $1.28 as my first target and $1.5 as the second target. TL2 has been broken by a range which reduces the importance of the breaking. Also, there are two abnormal pin bars in the range that prevent me from believing the price will keep falling. Even so, it’s possible to have a down break for the range. In this scenario, $0.87 to $0.9 could be a strong buy zone if it fit one of my strategies. I'll update the idea according to the situation. : ) Indicators used: - Trend Key Points - Abnormal Pin Bar - Common Candlestick Patterns - Volume
Long
by bhnmzm
3
EURCAD: Potential Short Trade 🇪🇺🇨🇦 EURCAD is testing a peculiar intraday structure resistance. Watching the reaction of the price on that we see multiple rejection and dodji candles. The price started to trade in a local consolidation area. To short the market with confirmation, wait for a breakout of 1.477 - 1.4775 support. It will be our trigger to open a trade. Goals will be 1.473 / 1.469 In case of a bullish breakout of a yellow resistance, the setup will be invalid. ❤️Please, support this idea with a like and comment!❤️
Short
by VasilyTrader
11
EURUSD... Ready to LongFX:EURUSD The chart is well explanatory on its own, let me just clarify to prevent confusion and uncertainty Denoted Terms: 1. Key support level (Lower rectangle) 2. Entry level :- Horizontal green line 3. Near resistance/support (Upper rectangle) 4. Take profit levels:- Horizontal blue and purple line The indicator used :- Relative Strength Index (RSI) 1. From the indicator+chart analysis, there is a bullish divergence there, which clearly we can see its sitting on the key support level 2. Dynamic Support and Resistance (EMAs):- There is a tendency the 10 (yellow color) & 20-PERIOD (blue colour) EMAs become dynamic support after a close price on the entry level i denoted, followed by a confirmaton candle Also on 4hr timeframe, trading 50% fibonacci retracement, see that below Trade Setup Trade Type : Buy Entry : 1.17550 - 1.17650 T.p 1 :- 1.18465 (91 pip in profit) T.p 2 :- 1.19060 (150 pips in profit) Stop loss price :- 1.16930 (62 pips in loss) RRR :- 1 : 2.5 Like and comment what you think on this... Let's trade and win together. Happy trading CryptoKings!!!
Long
by Skuchies_CryptoKing
1