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Levelsandzones

BITCOIN Heavy traffic aheadCOINBASE:BTCUSD now is just about zones ahead to break. We have a confirmed bullish trend after the strong support breakout, so it should remain bullish for a bit. The only thing is the great amount of liquidity levels ahead from the previous structure, look at the chart and look at the history (daily and weekly timeframe) and see how it repeats itself. I do not predict, I have a bias based on what I see on the chart and right now is bullish!!!
BITFINEX:BTCUSDLong
by Luisgonzalo
USDCAD at a strong resistance, teacup pattern completed.FX:USDCAD let's take a look at the USDCAD here, about a month ago it was at the very same level, and after NFP and Bank of Canada interest rates news hit, it came down a lot of pips, not because of the news (I do not follow or trade the news) but because of a bearish structure and facing a strong resistance. Today we have the same resistance holding, teacup pattern formed and completed in the short term, news hitter today BUT big wick showing bullish rejection. at this point I would like to see a break and retest of this level before looking for a buy setup. otherwise I'm selling it like crazy. I will post updates with lower timeframes scenarios, so you can keep up with it. LG
by Luisgonzalo
2
Part 1. An Algorithm Based Support & Resistance ToolWelcome! Today I'll be demonstrating the efficacy of a method I've determined to identify and trade support and resistance (S/R) zones in real-time. Normally, traditional technical analysis requires a S/R zone to experience multiple validation events (touches, reverses, bounces), before it becomes tradeable. The downside to this method is that numerous profitable trades are bypassed while confirmation is being developed. Unfortunately, many of the most profitable S/R trades appear soon after a level develops (think double/triple tops). After much research and experimentation, I've come up with a tool/indicator that can identify significant S/R zones in real-time. Once a bar closes, there is ZERO repainting. As the chart above shows, this means that you can trade a level as soon as price returns to it - no matter how quickly that occurs. The tool takes into account (not in order of weight): Price action Volume Chart patterns Volatility Momentum By combining multiple methods of analysis, levels are formed quickly, yet accurately. It's pretty important at this point to mention that I'm not claiming this is a get rich quick plan. All the tool does is identify potentially profitable zones that price will often react to. However, it's not infallible (nothing is), and it doesn't teach you to trade. You, as the trader, need to know how to trade price action to ensure a confirmation signal is given before trading a S/R event. You also need to know how to set a stop less, determine appropriate levels of risk, and undertake trade management to ensure profitability. Now, some people say S/R zones are easy to identify - in that case, what's the point of this tool? Simply, this tool takes the guesswork/bias out of S/R zones. As human beings, we're uniquely unsuited to investing money. We're irrational, emotional, ill-disciplined, and impulsive. Frankly, the average person (of which I'm one), needs every useful tool they can get their hands on. This tool means that one step (determining a trade area), is covered for you. That's it. Given the proprietary nature of the tool, and the value it has, I won't be releasing the code for it. At least not yet. However, something I really enjoy is helping other traders, so I've decided to start producing charts across various markets that identify relevant S/R zones identified by this tool. At this point in time they'll be provided free of charge, but depending on the demand for multiple markets (and time frames), that may change in the future. Oh, and remember that zone I mention in the chart above? The one between 27.47 and 27.17? The one from 1995? See the comments below for an example of how it came into play 24 years later... If you have any queries please let me know. And let me know which charts & time frames (bearing in mind, like most things, the higher the time frame the more reliable the signals). DD
NYSE:TEducation
by DreamsDefined
LTC / USD      AnalyticsCustomer indicates the level of support  LTC Globally worked correction of the entire growth to the level of 0.5 fibo, this is excellent because the paradigm of organic growth of any asset is the correction to accumulate more volume and continue the upward movement.   More locally, we see on the 4-hour clock that the candles are closed with pin bars, with very long shadows at the bottom, based on market mechanics, we can conclude that bulls are protecting the level of $ 84-88.    At the moment, we see bullish divers on MACD and RSI (the price goes down, updating the minima, the indicator remains within the level), therefore you can add positive growth factors to the bank. All movement takes place in a bullish wedge format, which is another positive signal in long.    Bottom line: You can enter after a breakdown of the downward trend, the first goal will be 0.5 total fall of fibo - $ 106, a horizontal volume is detected there, which will only strengthen the zone. It is not worth entering yet, because we are not insured against one more long candle, and bringing our foot under a minimum ($ 84).
BITFINEX:LTCUSD
by IgorPorokh
7
AUD/USD - Monthly Key Level in RangeAUD/USD is hitting resistance at Fibonacci Level 0.382 on the Daily timeframe. The overall monthly trend is a downtrend. Key Level is between 0.382 and .5. The ideal situation would be a signal of retracement at this price range. I think if the price passes the monthly key level it could be a sign of a reversal but I think the odds of a reversal happening is less as compared to a continuation to the downside. I think price broke the monthly key level as a signal to the downside so the price will retest level again and continue downwards. On a side note price is about to hit EMA 8 and it looks like EMA 8 and SMMA 21 are about to cross. Trading Journal #9 - Austin S.
Short
by austinlmkc