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Pivot Points

Profitable Support and Resistance Strategy for Trading Forex This support and resistance strategy works on any forex pair and gold. It is simple and profitable and it is the best trading strategy for beginners. In this article, I will share with you a step-by-step guide for trading this strategy. You will learn entry rules and important theory. First and foremost, in order to profitably trade support and resistance levels, you need to know how to identify them. You should know how to distinguish a significant structure level. I believe that you should look for a strong support or resistance strictly on a daily time frame. That structure should be historically significant. It means that it should be respected by the market at least 2 times, with a strong and clear reaction to that. Here is the example of a key support on EURUSD. The underlined key level was respected as the resistance, first, then, after a breakout, it turned into support and a strong bullish reaction followed. Above, you can see a perfect horizontal resistance level that was respected 2 time in a row in the recent past. Support and resistance levels that I showed you are truly significant. But, trading more than 9 years, I realized that the historic reaction of the market to a key level is not enough to make it reliable. I found one more important condition that strengthen a key level - a market trend. We will trade only supports that align with the market trend, meaning that we buy from such a support, if only the market is trading in a bullish trend. In the example above, NZDUSD is trading in a clear bullish trend on a daily. If we buy the market from the underlined support level, we will take a trend-following trade. That will be the best support level for buying the market from. We will trade only the resistances that align with the market trend. It means that we will sell from the resistance, only if the market is trading in a bearish trend. Look at AUDUSD on a daily. The pair is trading in a bearish trend. The resistance that I underlined will be valid for selling from, because shoring from that, we will trade with the trend. Please, realize that if you sell the market that is in an uptrend from a resistance level, you will go AGAINST the trend. The probabilities of winning such a trade will always be lower. You can see the EURNZD went through a resistance level, completely neglecting that, because the market trend was bullish. Buying a key support in a bearish trend, we will take a trade against the trend. Such trades always have lower accuracy. A key support on EURCAD was easily broken because the market was trading in a bearish trend. Now, let's discuss th e entry point, stop loss placement and target selection. Once you identified a key resistance in a bearish trend, set a sell limit order on that. On EURGBP, the market is trading in a bearish trend on a daily. We see a significant resistance that meets our criteria. We should set a sell limit order on that. Stop loss for the trade will be 0.5 ATR. I simply take the default ATR settings with 14 Length. In our example, ATR is 27 pips. Our stop loss for the trade will be 14 pips above the entry level. Take profit for the trade will be the closest support. Here is the closest support that I spotted on EURGBP. It will be our TP level. You can see that the market perfectly reached the target. Once you identified a key support in a bullish trend, set a buy limit order on that. I see a perfect daily key support on EURJPY pair. The market is trading in a strong uptrend. A buy limit order should be set on that level. Stop loss for the trade will be 0.5 ATR. ATR is 139 pips. Our stop loss will be 70 pips. Take Profit will be the closest daily resistance. 311 pips of profit were made. Market trend is always your friend . The rule to trade support and resistance levels only in the side of the trend is very simple, but many newbie trades neglect that, and lose a lot of money. Try this support and resistance strategy, back test it on different forex pairs and let me know your results. Thanks for reading! ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
20
Is SPX500 Poised for an Upward Movement?OANDA:SPX500USD Daily Chart Current Price: 5,812.8 Analysis: Falling Broadening Wedge: Upon analysing the daily chart, the price is forming a Falling Broadening Wedge pattern, which typically indicates a continuation of the prevailing trend. This pattern often suggests increasing volatility, leading to a potential bullish breakout if the price breaches resistance levels. Support Levels: • 5,703.1 • 5,625.0 Resistance Levels: • 5,937.5 • 6,015.6 • 6,097.0 Happy Trading! Stay tuned for further updates and insights.
OANDA:SPX500USDLong
by SpicyPips
1
Key Levels for the Week 11.25-30.2024🔲Key Levels Overview for the Week🔳 Supports🔀 1.0423 1.0322 1.0294 The price is currently below several support lines and in a demand zone, due to the selling pressure from last week. Resistance Support🔀 1.0505 to 1.0570 This range was previously a support level, but now that it has been broken, it acts as resistance. If the price reaches this level and fails to break through, it is likely to decrease again. Mid Pivot (Bear Zone)🐻🐻🐂 1.0777 This level could potentially be a key point for trend reversal or continuation of the current trend.
by spacecraft
SUI potential longhello and greetings to everybody. today we have almost a perfect setup to execute and I will explain the details in a minute so bear with me. in the 1h picture, we clearly have a bullish structure and price in my opinion finished the pullback phase and is ready to go higher. we came to a 1h demand and after that, the price broke the structure and gave us the confirmation but the other thing is before that move the price sold very aggressively to the downside and liquidated all those orders then gave us a shift in market structure shift and also that low that got liquidated was the previous day low too. I'm thinking at this point that the price will probably go and will take out the external liquidity or maybe the week high. so I opened an order set it at a 15-minute order block and targeted all those liquidity to the upside that is marked on the chart and if we get tagged in the order after that BE line I'm gonna go break even. for context, the blue dots are our current micro range that I mark personally. that is it, thanks for reading.
Long
by IEatGreenPaper
ES - Where to Join into the TrainThese two blue boxes are also very suitable for working with receivers. Instead of getting lost in the low time interval, transactions can be taken by looking at the reactions when the price reaches these levels. My Previous Ideas DOGEUSDT.P | 4 Reward for 1 Risk much more if you hold it. RENDERUSDT.P | HTF Accuracy ETHUSDT.P | Accurate Buyer Zone Identification | High Risk Reward if you hold it. BNBUSDT.P | Accurate Buyer Zone Identification | High Risk Reward if you hold it. Bitcoin Dominance | Great Characteristic Detection and Accurate Analysis
CME_MINI:ES1!Long
by XU99
OXY another swingOXY is one of my most profitable tickers over time. Looking at crude makes me more bullish as growth stocks overheat. I note a rising average volume and a bottoming BBWP volatility indicator. Stochastic RSI is rising alongside falling price trend, this is bullish divergence. The weekly stochastic broke that resistance, and we are printing and inside week candle here with very small wicks, I believe we are about to pivot. My plan is to swing this into the supply box noted above, I also wouldn't hesitate to take profits at that long term fib. My plan: I have started adding Feb 2025 62.5$ calls and will layer in some 60$ calls for a spread, I will keep the position under 1,000$, I tend to have a higher win rate than lose rate with OXY so I am comfortable with this setup.
NYSE:OXYLong
by Apollo_21mil
Gold plunges as Trump 'trumps' seasonalsLast week I revealed in a video of my scepticism gold would tracks its seasonality into December , given its outperformance earlier in the year and the hunch that Trump 2.0 would likely to overshadow typical flows. And Trump's US Treasury Secretary cabinet pick has done just that. Monday's price action should serve as a stark reminder that seasonality has taken a back seat with its prominent bearish engulfing day and most bearish candle in four years. And there could be further losses ahead. The daily chart shows the drop from its all-time high (ATH) came in three waves, which suggests it is the beginning of a larger ABC retracement. Assuming Monday's engulfing candle was the end of wave B, a 100% projection (wave equality) could see gold fall to ~2460. note that the daily low found support around a high-volume node (HVN) and weekly S1 pivot point. A bullish divergence is also forming on the 1-hour RSI (2) to suggest a bounce. Bears could seek to fade into retracement within Monday's range to try and increase the reward to risk ratio. MS
COMEX:GC1!Short
by CityIndex
DOGE: The Last Push to Glory?I’ll be bidding below 35c for one last push, with a chance of a retest into 32c. If this fails, then it will likely drop straight to 28c, where I’ll be looking to buy, but that’s for another trading setup. I’m expecting another week of green, with BTC approaching 103k. We should have more data by Tuesday, depending on whether it manages to close with a daily expansion bar on Monday or Tuesday. Buying the breakout will also be a valid strategy here. CRYPTOCAP:DOGE
Long
by ZelfTrade
2
AVAXUSDHello everyone, today let's talk about AVAX. AVAX has already made a 4x from its low at 8.5 USD in 2023. However, it is still far from ATH in 2021 so it still has room to grow. AVAX has shown great respect for 20 USD price and has bounced of it wonderfully, creating a higher low both in price action and in RSI. Currently price is at 32 USD, a previous local high from end of July. If it breaks it to the upside next major resistance is at 55 USD. RSI also broke over 50 - a bullish sign. I expect it to go higher in this bull run, however in short term we might witness a pullback to previous level of 20 USD. Also on AVAXBTC pair chart is coming close to strong base of 0.0003 (currently is around 20% above this). I expect one of 2 scenarios: - BTC pulls higher while AVAX stalls for a moment, bringing AVAXBTC to 0.0003 and then AVAX starts following, gaining on BTC. - Both face a pullback, but AVAX bleeds more. AVAXBTC drops to 0.0003, AVAX drops to 20 USD and then they both bounce, AVAX gaining momentum against BTC. There are also other possible scenarios, so do take my analysis with a grain of salt and DO YOUR DILLIGENCE. My strategy: I will be buying a small portion of AVAX at this price. I will also buy some more if we dip towards 20 USD. In total I will dedicate only a small portion of my portfolio to this pair. If AVAX falls below 15 USD, I am out and will take a hit. Good luck.
BINANCE:AVAXUSDLong
by carefulCheese32259