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A-trend

EURUSD gradually rises inside six-week-old bullish channelEURUSD extends the previous three-week uptrend as traders await Eurozone Retail Sales and the US inflation data. The quote’s latest upside could be portrayed by an upward-sloping trend channel. That said, the 78.6% Fibonacci retracement level of September 12-28 downside, near 1.0070, lures short-term buyers. In a case where a nearly overbought RSI fails to stop the pair’s upside, the stated channel’s upper line near 1.0140 will gain the market’s attention, a break of which could challenge September’s peak surrounding 1.0200. Alternatively, the pullback move could aim for the 50% and 61.8% Fibonacci retracement levels, near 0.9945 and 0.9865 in that order. Following that, the 200-SMA level near 0.9810 and the bullish channel’s support line, close to 0.9750, will act as the last defense of the EURUSD buyers. If the quote defies the bullish chart pattern, multiple supports near 0.9640 and 0.9580 could test the sellers before directing them towards refreshing the yearly low, currently around 0.9535. Overall, EURUSD is likely to grind higher but the room towards the north appears limited.
by MTradingGlobal
GATEWAY might rally (Significant demand zone)From the above chart we see that #GatewayDistriParks, a company into logistics has been moving downwards and recently had a volume spike and a breakout of the downward sloping trendline, it gave a low volume pullback & since listing it has respected a Demand Zone, ample of times and every time some buying can be seen happening in that zone. The recent price action is a retest but this is a risky trade so a strict SL needs to be there below the demand zone and resistances mentioned above in the charts are targets for the same. A high risk short term bet so abide by strict SL, Targets. Thanks for reading!
NSE:GATEWAYLong
by UnknownUnicorn21160479
WTIOCUSD(Crude) make or break levelCrude oil making a bearish pattern and still showing the sign of bullishness. Fight between Bull and Bears for the trend to continue. Which way will It go? Crude respects the levels we analyzed In early posts, shows a good move over the period. The up-trend move after the breakout of the price mark of $87.894, was slowed down after the price tried to breach the overhead resistances of $90 that we suspected to be a major resistance zone. But moreover, there was a diversion which you can see in the picture created on 27/10/22 ( Diversion was found with the help of an indicator known as RSI). When we see in the 1H chart, the price is showing bullish movement by making pin bars which can mean buyers are getting active around the $87.89 Price mark. But the price will be concerned bullish only when the price sustains above the $90 zone then we can say the view of the counter is bullish and look for buy on dips. But on another side of the coin, you can see a bearish Head And Shoulder pattern and if the pattern is triggered then I believe Crude can be seen trading in the $83-$84 range shortly, and the view can be changed to sell on really. Until then you need to decide the strategy technics for trading this counter this is my view on the counter until I see the price breaching my analyzed levels
OANDA:WTICOUSD
by rajbhilarkar2000
Vedanta for a fall.Vedanta for a fall. In the first long term wave, we are in the second correction of the wave two and if you see the wave, it is in a third wave fall of the 3 sub waves which could be as deep as .618 fib levels as per me. Also, it is now at a triangle resistance at the top of the trend line if you see the dark white line and the volumes have weakened significantly with no buying momentum. The fundamentals are bad with a 61 percent los QoQ. Plus, commodities and interest rates have an inverse relationship because higher interests lead to increased cost of holding and weakens demand. Now with the potential rate hikes on cards, my view of Vedanta is a fall with a target of 253. If we open below the 274 support line, it is a further confirmation. For safety, it can be taken when the triangle breaks down. The metal index also seems to be in the second corrective wave and with rate hikes, a correction seems on the way.
NSE:VEDLShort
by sufficientDog30325
EURUSD braces for further upside but 0.9900 tests bullsEURUSD jostles with a four-month-old resistance line, as well as the 50-DMA, respectively around 0.9870 and 0.9900, as it lures buyers near a fortnight top. Given the firmer RSI and bullish MACD signals, the major currency pair is likely to refresh the monthly top, currently around the parity level. In doing so, September’s peak surrounding 1.0200 will be crucial to confirm the bullish trend. Following that, a run-up towards the five-week-old horizontal resistance area near 1.0360 can’t be ruled out. Alternatively, the EURUSD pair’s failure to provide a successful break above 0.9900 could drag it to the monthly support line, close to 0.9720 by the press time. Even so, the bears may want to wait for a clear break of the four-week-long support zone around 0.9660 to retake control. In that case, the yearly low of 0.9535 will gain the market’s attention. In a case where the quote remains weak past 0.9535, the 0.9000 psychological magnet should lure the sellers. Overall, EURUSD is up for regaining the bull’s confidence but a clear break of 0.990 is necessary.
by MTradingGlobal
FALLING TREND LINE Education Falling trend line: Rising trend line is the type of trend line which typically helps trader in identifying the exact bearish momentum (downward trend). The rising trend line or descending trend line, be connected from highest price traded within the time range, and connect to the lower prices of the asset or security. Traders may prepare for selling after retest of the falling trend line and stop above the trend line. It helps minimizing risk and maximizing rewards when used appropriately.
Education
by CELGIB_TRADING
RISING TREND - EXPLAINED Education Rising trend line: Rising trend line is the type of trend line which helps a trader to identify the bullish moment or bullish range (Upward Trend). The rising trend line or ascending trend line should be connected from the last lower of the asset value to the last highest value or price of an asset. The rising trend line should have multiple prices touched to be considered as valid, (at least 2 price point touches). Traders may anticipate trading pullback where confirmation come, they can use additional indicators to have clear understanding of right entry point and exit points.
Education
by CELGIB_TRADING
Gold portrays bullish triangle but $1,643 is the key hurdleGold braces for the second weekly loss but the bears appear hesitant around the yearly low. On the top of that, a bullish triangle formation and nearly oversold RSI suggest that the metal may witness a bounce. Hence, a convergence of the monthly horizontal resistance and the three-week-old descending trend line, forming part of the bullish triangle, around $1,643, gain major attention. Should the metal buyers manage to cross the resistance confluence, an upswing to the 200-SMA level of $1,678 becomes imminent on the way to the theoretical target surrounding the monthly high near $1,700. Alternatively, pullback moves need to defy the triangle formation by breaking the $1,620 support. Even so, the yearly bottom of $1,614-15 could test the bears before directing them to the $1,600 threshold. Following that, April 2020 low and August 2019 top, respectively near $1,572 and $1,557, could entertain the sellers. In a case where the gold price remains weak past $1,557 the year 2020 low of $1,451 will be in focus. Overall, gold sellers are running out of steam but the buyers need a clear break of $1,643 for even a small rebound.
OANDA:XAUUSD
by MTradingGlobal
US30 sell to buy idea in higher timeframe market is currently bearish forming LH and LL. market after hitting a 1d imbalance form CHofCH 1h 4h timeframe telling market could possibly reverse from downtrend to uptrend in lower timeframe to fill the imbalances which was left open. market came back and fill the imbalance below and show a large push up showing buyers are in control there also market corm a change or character overall i am looking for buy from the imbalance left open in 30m timeframe. also have a sell idea from a 4h supply above the market with lower timeframe( 15/ 30m) confirmation. if market break the above swing high them it is telling us market is in uptrend still short idea is valid from that demand.
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by Rohit_Fx