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Identifying Support & Resistance Zones

ShahinM Updated 11 Mar.  in #Trading #Strategy #Resistance #Support Line #Support Area #Resistance Area #Support Zone #Zones #Resistance Zone #Naked Trading
There’s an old saying about those who forget history. I don’t remember it, but it’s good.—Stephen Colbert
You have to pay close attention to one thing on the chart if you trade naked: price. Price is king. Price will tell you all you need to know. The wonderful thing that all markets have is this: a history. The mar- ket will tell you where the sweet spot is on the chart. These sweet spots will be the foundation for everything you do as a naked trader.A sweet spot on the chart is a support and r…
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Possible retest of previous resistance 130 level

GORDONTAN Posted 14 Aug. as Analysis on EUR/JPY, Target: 130.755, Date: 1st of October, 12:00 GMT  in #Technical analysis #EUR/JPY #Resistance #Eurjpy #Retest

based on both D1 and H4 chart ,i predict this will happen again which is that we will be able to see EURJPY to retest 130 level again within less than two months time, stay tuned
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2 Comments
GORDONTAN avatar
GORDONTAN 22 Aug.

all the way back to its previous resistance 130 level

GORDONTAN avatar
GORDONTAN 13 Sep.

it is now 130 level again..the resistance 130 seems to be no longer unbreakable

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AUD/CHF

carpe Posted 2 Aug.  in #Trader's blog #Forecast #Support #Resistance #AUD/CHF #Lwma
AUD/CAD presently mark: 0.73131
Forecast: Bullish
Buy above LWMA
4H Key points:
Top Resistance: 0.74400
1st Resistance: Lwma
1st Support: Floor
Floor: 0.73135
LWMA: Bearish
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AUD/CAD

carpe Posted 1 Aug.  in #Trader's blog #Forecast #Support #Resistance #AUD/CAD #Lwma
AUD/CAD presently mark: 0.96496
Forecast: Bullish
Buy above LWMA
4H Key points:
Top Resistance: 0.98000
1st Resistance: Lwma
1st Support: Floor
Floor: 0.96300
LWMA: Bearish
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GBP/USD testing support area at 1.30

al_dcdemo Posted 18 July  in #Trader's blog #GBP/USD #Support #Resistance #D1 Chart #Brexit #Cpi Inflation #Jerome Powell
GBP/USD fell nearly 300 pips so far this week. Yesterday's Brexit headlines and today's (leaked?) weaker than expected CPI inflation figures for June were among the drivers on the GBP side of equation. Couple that with stronger USD since Fed Powell's testimony. 1.30 is the immediate support ahead of 50% retracement of the 2016 - 2018 upswing near 1.2930.
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NZD/USD jumps on signs of inflation

al_dcdemo Updated 17 July  in #Trader's blog #Support #Resistance #Inflation #NZD/USD #Rbnz #D1 Chart
NZD/USD jumped some 50 pips in the morning after RBNZ's measure of core inflation came in at a 7-year high. That came after official inflation data for the second quarter showed a slight miss on expectations, but still solid. NZD/USD rallied off of 0.67 area twice but further upside won't come easy without RBNZ moving into hawkish direction.
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GBP/USD supported since Friday afternoon

al_dcdemo Posted 16 July  in #Trader's blog #Boe #GBP/USD #Support #Resistance #Range Trading #D1 Chart #U K Data
U.S. dollar continues the sentiment from Friday afternoon, trading weaker today. GBP/USD sold off that day and then reversed just as strongly. The pair is contained in a three-cent range, between 1.3050 - 1.3350. Direction of the breakout will depend on this week's U.K. economic data that may either soldify or weaken the case for BOE rate hike in August.
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AUD/USD drifting lower still

al_dcdemo Updated 15 July  in #Trader's blog #Support #Resistance #AUD/USD #Rba #Fed #D1 Chart
AUD/USD has been drifting lower since the beginning of this year. RBA is determined to maintain cash rate at accommodative levels until further notice while the Fed is hiking, which is keeping the pair from rallying. Each attempt at a bounce has fizzled out at two or so cents. 61.8% retracement of the 2016 - 2018 range is the level to watch on the downside.
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EUR/USD in the middle of two-month range

al_dcdemo Posted 14 July  in #Trader's blog #Support #Resistance #EUR/USD #Range Trading #D1 Chart
EUR/USD ended three-week advance this week, after it topped out ahead of 1.18 on Monday. The pair bounced strongly on Friday and closed the week bang in the middle of the two-month range between 1.15 and 1.185. Technicals and fundamentals are in USD's favour. I think eventual break below 1.15 is in the cards but may take some more churning in the current range.
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USD/CHF follows USD/JPY higher

al_dcdemo Posted 13 July  in #Trader's blog #Support #Resistance #USD/JPY #EUR/USD #USD/CHF #D1 Chart #Parity Level #U S Dollar Strength
U.S. dollar strength continues. After USD/JPY break to the upside on Wednesday, USD/CHF followed yesterday. The pair rose above parity level and is currently testing year's high near 1.0050. It's pretty much open space above that with big figures as resistance levels. A break lower in EUR/USD would be helpful, given the correlation between euro and franc.
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