GOLD ANALYSIS 13TH NOV 2024"To reach TP3, price first needs to break through TP1. Let's wait for a clear rejection after filling the Fair Value Gap (FVG). If it breaks the lows, that could confirm a short entry. Currently, price is still forming lower lows and lower highs. A break above TP1 would be the initial signal for a shift to higher highs.
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Bank Nifty - Will This Be Wave E towards 52000+ As discussed last .....BankNifty unfolding a triangle & again took support close to 51000 which is most important support zone 50800-51000
Can we get Wave-E upside & achieve 800-1000 points target upside
Strictly -----No Buying ------If Index drops below 51000 ...................
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WaveTalks
Abhishek
Nifty Big fall Ahead Nifty Big correction comming days expecting in daily timeframe it is rejecting founding resistance at 100 ema now it is heading to test 200 ema on daily front in my view it will drop below that so keep checking the levels.
Current Market Sentiment:
Bullish outlook as long as Nifty holds above the 24,000 mark. If 23,800 breaks, a Head and Shoulders pattern may be activated, signaling a potential 10% correction in the coming days.
Key Levels to Watch:
Support Levels:
24,000 – 23,800: This range represents critical support. If Nifty sustains above this level, the bullish trend remains intact.
A break and sustained move below 23,800 could confirm the Head and Shoulders pattern and lead to a deeper fall.
Resistance Levels:
24,300 – 24,550: Recent highs that will act as key resistance.
Breakout above 24,300 could push Nifty towards 24,500 – 24,800 and possibly 25,000.
Breakdown below 23,800 could trigger a correction towards 23,000 or even 21,000, aligning with the pattern’s target.
Head and Shoulders Pattern:
This pattern becomes valid only if Nifty sustains below 23,800. The measured target of the pattern suggests a 10% fall from the breakdown level, which would put Nifty in the range of 21,000 to 22,000.
If Nifty holds above 23,800, the pattern remains invalid and bullish momentum could continue.
BTC ANALYSIS 12TH NOV 2024🚀 BTC Market Update 🚀
Bitcoin's recent surge has left multiple imbalances on the downside across higher time frames. As of now, we've seen the 1-hour candle close below the recent low, hinting at a potential retracement.
Plan of Action:
Wait for Retracement: The focus is on waiting for price to fill the Fair Value Gap (FVG) and observe a rejection from that level.
Profit Target (TP1): If this retracement leads to a downside move, our initial target will be the demand zone below.
Extended Target: Should the price continue to dump, hold positions as BTC may aggressively move downward to trap buyers and clear those imbalances.
🔔 Stay Tuned: Follow, like, and comment for more in-depth market insights!
Pressure From The Dollar – Can XAUUSD Hold Support?XAUUSD is experiencing a sharp decline, reaching new lows around the 2600 level, pressured by the strong rebound of the USD. The U.S. Dollar Index has surged to a four-month high, making gold more expensive for investors holding other currencies.
In terms of trend, any attempt to push gold prices up may be limited, as the dollar is benefiting from market conditions while expectations for a Fed rate cut are fading. This adds further pressure on gold, making it difficult to sustain upward momentum.
This week, investors will closely watch the October CPI data, PPI, weekly jobless claims, retail sales, and key speeches from Fed officials, including Chair Jerome Powell, to gain more insight into the Fed's future rate path.
On the technical side, gold is currently trying to break the major support level at 2555. However, a short-term pullback to test resistance levels is possible before the decline resumes. Overall, both technical and fundamental factors are favoring the sellers.
Share your views and questions! Let’s discuss the current intriguing moves in the gold market!
BTCUSDT shortBitcoin Short -
I was looking at the recent bitcoin rally that I was unfortunately not able to catch. So I was waiting for it to halt at some point and give me an opportunity to grab a quick counter trend retracement play.
As soon as I saw that Bitcoin pulled back and made a double top formation I was interested in a short.
Once it gave me a confirmation by taking out the liquidity from ATH and closing below in a reversal candle I became more confident about the trade. After waiting for a 15m confirmation candle I punched my sell orders and I've been riding the fall - waiting for my TP!
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BEARISH FLAG IN BANK NIFTY - TIME FOR A SHORT TRADE ?Symbol - BANKNIFTY
CMP 51350
BankNifty has turned its trend from bullish to bearish & sideways making lows - lows on daily time frame & It was trading in a bearish channel. We can see a Bearish Flag pattern getting formed in BankNifty. Such patterns on larger time frame don't usually fail. BankNifty is currently trading near break down trendline of this pattern. Breakdown & sustaining below this trendline zone 51150 - 51000 will get this pattern activated & we can see big target towards downside.
Target on downside can be 47400
P.S. : My short position is already active from 51800
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
BANK NIFTY INTRADAY LEVELS FOR 13/11/2024BUY ABOVE - 51300
SL - 51060
TARGETS - 51500,51800,52060
SELL BELOW - 51060
SL - 51300
TARGETS - 50900,50670,50380
NO TRADE ZONE - 51060 to 51300
Previous Day High - 52230
Previous Day Low - 51060
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
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HAPPY TRADING 👍
#Nifty directions and levels for November 13th.Good morning, friends! 🌞 Here are the market directions and levels for November 13th.
Market Overview:
The global market is showing moderately bearish sentiment (based on Dow Jones only), and our local market is exhibiting a bearish sentiment as well. Today, the market may open with a neutral to slightly gap-down start, based on the Gifty Nifty showing a negative 30 points.
In the previous session, both Nifty and Bank Nifty experienced a solid correction. Structurally, we can expect a further slight correction, and the sub-wave analysis supports this. Currently, on the other hand, we are at the bottom of the range. Additionally, the RSI shows divergence, indicating a probability for a bounce back. Let’s explain this in the chart.
Both Nifty and Bank Nifty have the same structural sentiment.
Current View:
The current view suggests that if the market sustains the gap-down, it could experience a minor bounce back around MDZ. However, this would only be a minor bounce back; after that, if it breaks the previous bottom, then the correction is likely to continue.
Alternate View:
The alternate view indicates that if the market opens with a gap-up, or if the initial market takes a solid pullback and breaks the 20 EMA, it may hold a range-bound sentiment. This means the market could move to the top of the range. Targets are expected to be a minimum of 38% to 78% of the swing.
Bank Nifty may Bounce 1500+ PointsIn bank nifty from 50194 there is a bounce of wave B and in which w and x wave is completed and wave y is in progress and in which a and b is completed and wave c of wave y may give 1500+ bounce from given support range. One can place SL some points below 123% level given on chart.