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A-trend

Fortnight-old bearish channel keeps gold sellers hopefulGold extends pullback from 50-SMA and the upper line of the 12-day-long descending trend channel as sellers flirt with the $1,695. That said, the downward sloping RSI, not oversold, adds strength to the bearish bias targeting the latest swing low, around $1,688. However, the yearly low, marked in July at around $1,680, will precede the stated channel’s bottom, close to $1,670, to challenge the sellers afterward. Meanwhile, recovery remains elusive until the gold price remains below the $1,723-25 resistance confluence including the 50-SMA and the channel’s top. Following that, the 61.8% Fibonacci retracement of July-August upside, near $1,730, could probe the XAUUSD bulls before giving them control. In that case, the tops marked during August 25 and 10, respectively near $1,765 and $1,807, will be the focus. Also acting as the upside barrier is the $1,800 threshold.
OANDA:XAUUSD
by MTradingGlobal
Will a correction happen in ITC at least now ?ITC broke the trend line with high volumes. *It has been in uptrend without a proper correction for uite a long time. For Intraday can short ITC @cmp:327 - 328 with a Stop loss of 332. If the trade goes in our way Targets will be *Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost *Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL. *Exit remaining with trailing Stop loss. For Swing can short ITC @cmp:327 - 328 with a Stop loss of 335 (Fib extension resistance area).
NSE:ITCShort
by Mo-Kri
2
AUDUSD braces for yearly low on RBA dayAUDUSD bears take a breather after bouncing off a two-month-old horizontal support area, inside a broad bearish channel from early May, as traders await the Reserve Bank of Australia’s (RBA) verdict. Although the Aussie central bank is up for another 0.5% rate hike, the fears of economic slowdown due to the trade links with China appear to tease the sellers. That said, a clear downside break of 0.6760 appears necessary for the sellers to approach the yearly low near 0.6680. Following that, the likely oversold RSI (14) and lower line of the stated channel, could challenge the further downside around 0.6560. Even if the quote drops below 0.6560 support, the 61.8% Fibonacci Expansion (FE) of April-August moves, near 0.6530, could act as another downside filter. Meanwhile, recovery moves could aim for the early August low near 0.6870 before the 100-DMA hurdle surrounding 0.6990 gains the market’s attention. Should the AUDUSD bulls manage to cross the 0.6990 resistance, the 0.7000 threshold and the aforementioned bearish channel’s upper line, close to 0.7080 by the press time, will be important to watch. It’s worth mentioning that the pair’s run-up beyond 0.7080 could give control to bulls.
by MTradingGlobal
TATA CONSUMER PRODUCT Wait And Watch ?? Look for Low risk, High reward, and High Probability setups- Things to Remember while Trading with the Trend 1. Know what the trend is. 2. The best trades are made in the direction of the trend. 3. Assume that the main trendline or moving average will hold. 4. The longer the moving average is, the better it defines the trend. 5. Wait for the pullback. 6. Don’t chase the market. 7. Don’t fight the market. 8. Even in the strongest trends there should be some retracement. 9. The closer the market is to the trendline, the better the risk/reward ratio is. 10. Use ADX to determine the strength of the trend. 11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy 12. Hold trades longer in a strong trend. 13. Wait for confirmation of a trendline breaking before reversing position. 14. Know where the Support levels are. 15. Place stops outside the Support levels. Thank You..
NSE:TATACONSUMLong
by Rvkachhadiya
22