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Supportandresistancezones

META: A Dangerous Inflection Point! (D&H Chart Analysis).Daily Chart (Left) Ascending Channel: The price has been trending within an ascending channel, indicating a strong upward trend that has held for a considerable period. Double Support Area: There is a critical support zone at $561.52, marked by both horizontal support and the lower trend line of the ascending channel. This convergence of support points suggests that this level is pivotal for maintaining the current trend. Price Reaction: Recently, the price tested the support area and rebounded, but it is still below the 21-day EMA. Hourly Chart (Right) 21-Hour EMA Resistance: The price recently encountered resistance at the 21-hour EMA as well, which may act as a short-term barrier for further upward movement. Pullback Zone: The recent dip tested the support area around $561.52, validating it as a strong inflection point. The price is now attempting a recovery from this support level. Conclusion: The $561.52 level is crucial for both bullish and bearish traders. If the price maintains above this zone, there could be potential for a rebound and continuation within the ascending channel. Conversely, failure to hold this support could lead to a bearish reversal or deeper correction. Keeping an eye on the reaction to the 21-hour EMA will provide clues for short-term movement. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:META
by Nathan_The_Finance_Hydra
2
SPY: Watch Out For These Turning Points (D&W Charts).Daily Chart (Left) Resistance and Support Levels : Both $574 and $565 have served as support and resistance points in the past, and are good examples of how the Principle of Polarity works in technical analysis - when broken, support points become resistance points, and vice versa. At the moment, SPY is struggling near $574, its current resistance, which is very close to the 21-day EMA. If it fails to break it, $565 is its next stop. EMA and Price Action : The price has recently tested the 21-day EMA, and while it experienced a brief dip below this moving average, it has recovered. The EMA could act as immediate resistance if there is continued upward pressure. In addtion, the 21-day EMA is pointing down, reinforcing the short-term downtrend. Short-Term Pattern : The presence of lower highs/lows indicates weakening momentum, so keeping an eye on whether the price can break above $574.71 or fall below $565.16 is crucial. Weekly Chart (Right) Uptrend Line : The long-term uptrend is intact with a supporting trend line dating back to late 2023. This trend line, coupled with the current support level at $565.16, will be pivotal for sustaining the broader uptrend. EMA Support : The weekly EMA is also below the current price, suggesting a positive long-term trend. Any pullback to this level would still be within an acceptable correction phase. Conclusion: SPY is currently at a decisive point. If it manages to break above the $574.71 resistance, the uptrend could gain strength . Conversely, a failure to hold above $565.16 might trigger a pullback to the weekly trend line or EMA, materializing a long-term pullback (but not reversing the long-trend seen on the weekly chart, just triggering a sharper correction). This is a crucial watch zone for both bulls and bears to define short- to medium-term strategies. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
AMEX:SPY
by Nathan_The_Finance_Hydra
2
Sonata Software Ltd. (NSE: SONATSOFTW)The daily chart of Sonata Software shows a notable consolidation phase after a strong uptrend earlier this year, which peaked around ₹837. The stock has been trading within a descending triangle pattern, a sign of ongoing consolidation with potential for a breakout in either direction. Here’s a closer look at key levels and technical indicators: 1.Fibonacci Retracement Levels: The stock has retraced to key Fibonacci levels, finding temporary support near the 0.236 level around ₹563 and facing resistance near the 0.382 level around ₹615. These levels are crucial as the stock approaches a breakout or breakdown point. 2.Trendline Analysis: Two converging trendlines form a descending triangle, indicating potential price compression. A breakout above the upper trendline or a breakdown below the lower trendline could signal the next trend direction. Traders should watch for a breakout above ₹615-₹620 or a breakdown below ₹563. 3.Volume and Momentum: Volume has been gradually decreasing during this consolidation, which typically precedes a breakout. If there’s a spike in volume with a breakout, it could confirm the direction. The RSI (Relative Strength Index) is around 47, showing neutral momentum but with room for movement in either direction. A rise above 50 could indicate bullish momentum. 3.Key Support and Resistance: Support: Major support is around ₹563 (0.236 Fibonacci level) and ₹479 (100% retracement). Resistance: Immediate resistance stands at ₹615, with stronger resistance around ₹658 (0.5 Fibonacci level) and ₹700. Outlook: Given the current pattern, Sonata Software is approaching a decisive moment. A breakout above ₹615-₹620 with strong volume could push the stock towards ₹658 and beyond. Conversely, a breakdown below ₹563 might lead to further downside. Note: Keep an eye on broader market conditions as well, as they can influence breakout strength and follow-through.
NSE:SONATSOFTW
by AngshumanSaikia
Sell AUD/JPY Bearish ChannelThe AUD/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 100.25, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 99.48 2nd Support – 99.11 Stop-Loss: To manage risk, place a stop-loss order above 100.75. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_TA_TRADING
5
Support test and possible ignition move in the EURGBP.EUR/GBP is sitting in a significant support area on the daily chart, marked by a descending trendline (which was broken in yesterday’s candle) and a horizontal level of support that comes all the way from 2022. Below are some key points about the pair at the moment: Horizontal Support at Lowest time since 2022: The orange line on the chart marks a critical support area, coinciding with the lowest price recorded since 2022. This horizontal support suggests a strong turning point where sellers seem to be losing steam, which could indicate a possible reversal if the price remains above this level. Bullish Engulfing Pattern: On September 30, in the daily chart a Bullish Engulfing pattern has recently formed after the price touched the support area. This pattern, characterized by a bullish candle completely engulfing the previous bearish candle, signals renewed interest from buyers and potential bullish momentum in the coming days Break of downtrend line: On September 30th, EURGBP showed the beginning of a break of a downtrend line that has been in place since August 8th. This also indicates a potential increase in buying interest in this region. Fibonacci Levels as Potential Targets: The 0.382 and 0.5 Fibonacci levels stand out as potential targets for an upward correction. The red zone near the 0.5 level (around 0.8460) is an important resistance point, which could serve as a target if the price maintains its recovery. Resistance and Support: The orange line at the 0.8339 level represents a critical support zone. On the other hand, the region near 0.8460 (0.5 Fibonacci level) is a potential resistance and target for buyers if the bullish momentum continues. Considering these factors, an upward move could occur if the price remains above the support, with a possible target for levels near 0.8460. Alternatively, a break below the horizontal support and the descending trendline could trigger renewed selling pressure, driving the price to lower levels. Watch for NonFarm Payrolls (NFP) on Friday: Traders interested in EUR/GBP should also keep an eye on the upcoming US NonFarm Payrolls (NFP) report, which is due out on Friday, November 1. This economic indicator affects the dollar directly, but it can also impact global market sentiment, influencing pairs such as EUR/GBP. A strong NFP reading could lead to an overall strengthening of the dollar, which could indirectly affect the euro and pound, while a weak reading could have the opposite effect. Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested.
Long
by Marketscom
Short setup on SPX (x2)After the most recent upward move, the SPX shows clear signs of weakness, suggesting a potential short setup. Since mid-July, the SPX has been moving upward and it's now near its all-time high. However, the RSI Exhaustion at the bottom of the chart has significantly declined and hasn't recovered much, establishing a downtrend. This divergence between the price and the RSI Exhaustion is the first major signal of a possible short configuration. Three additional signs support this setup: The RSI Exhaustion shows recent bullish exhaustion (indicated in green), signaling that further price increases are unlikely. The price has formed a top just shy of its all-time high, as identified by the Bottoms Tops Signal indicator. A major level has formed, as indicated by the Levels and Zones indicator. While this level turned into support, it originated as resistance and could well revert back to it should be price start to drop further. Is the bull run over? Only time will tell, but for now, it's crucial to remain patient and always seek confirmation from the indicators.
TVC:SPXShort
by a.b
Technical Analysis on Visa (V)Visa's stock ( V ) shows a clear long-term uptrend. Following a decline in 2022, it regained its 2021 highs in early 2024, breaking through resistance and continuing its upward trend. The stock reached new highs around the $290 area, then retraced, forming a bullish flag pattern, down to a support area near $250. Currently, it is testing the highs again in the $290 area, reached via a gap up after positive earnings and revenue announcements. If it confirms a breakout above resistance, with a potential retest, the stock could continue its bullish trend.
NYSE:VLong
by Giovanni_Bandini
Sell CHF/JPY Wedge BreakoutThe CHF/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Wedge pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 176.60, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 175.90 2nd Support – 175.30 Stop-Loss: To manage risk, place a stop-loss order above 177.30 This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_TA_TRADING
4
Technical Analysis on Cloudflare (NET)Cloudflare ( NET ) experienced exponential growth between 2020 and 2021, followed by a sharp decline in 2022. This decline halted around a support level at approximately $40, which has been tested multiple times as a key level. Recently, the stock broke through a significant volume area, also surpassing a key resistance level that had been tested multiple times in the past. Bullish Scenario Currently, it appears to be in a retest phase. If this level can hold as new support, the stock could continue its upward trend, with an initial target around $130. Bearish Scenario If the retest fails, as it did in April 2024, the stock may retrace toward the POC area, located around $60. A move below this key level would increase the likelihood of a further decline toward the critical $40 support, previously tested multiple times, where it could attempt to stabilize once again.
NYSE:NETLong
by Giovanni_Bandini
Gold Out lookWe have a mixed overview on gold as todays market opening has gone against our anylisis but as i always say no one is perfect in this market there is a probability Rati in this game so we are still bullish over gold but as gd is moving in a Minor 1H channel and has is consolidating in the channel we will be looking for buys when the pair breaks the channel above and currently its moving to its 4H Support level if price rejects the level and moved back and breaks above the newely formed resistance level of 2740-44 we will seek a bullish position as the price is consolidating we are bearish to 4H Support
OANDA:XAUUSDLong
by Wakeel_Saab
1