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Candlestick Analysis

EURUSD Trend Signal to ShortTrading Parameters: -1hr chart -Analysis timeline Daily- 5am to 5am blocks -Daily High and Low points base on Timeline Block -Profit and Loss targets are based on 100% of block movement set at 82.5% Profit target and 32.5% Loss target movement. -To open trades based on personal trade indicators which are: Box trade, Xtrade trade, Trend trade and Expan Trade. In todays EURUSD Trade. Based on my own research on my trading strategy. Chart pattern shows a Trend Trade. However the trend seems to have a major reversal in price movement from its strong Bullish Movement. So open Trade will be Trend trade (reversal). Trade points: Open:1.08671 Profit:1.08337 (334/33.4points) Loss:1.08469 (132/13.2points) The strategy takes account of the previous days movement for the opening trade which is 405/40.5points. Based on the movement, Profit and loss at 82.5% and 32.5% respectively are as follows Profit: 334/34.4 points / Loss: 132/13.2 points. For the strategy signals, 2 trend lines are plotted on the chart, with each trend line plotted at the highs and lows of the prior 2 days of the opening trade. Then 2 horizontal lines are placed within the 2 day blocks at the Lowest High point and the Highest Low point. Based on what pattern the 2 trendlines and 2 horizontal lines portray altogether. will determine the type of trade that will be opened. Thank you for your time on reading this Idea. This is just a rough explanation on my strategy. I will be sharing more on my trading statistics in the coming Ideas
Short
by HillDo100
Nifty montly chart analysis for Month of April 2024.Nifty is around the ATH and there is profit booking at the higher levels. The market is spending time near the high and last week too it has test the ATH. Seller are there in the higher levels and closing of the weekly candel is dicey. Higher time frame is showing some RSI bearish divergence and market is forming grave stone doji on the daily charts. Monthly charts has not formed a red candle still and is forming doji after doji which still shows no clear bearish indication. But the price is trading on the higher levels of the bollinger band. Market participants be cautious as there seems to be a bearish month ahead. This being the election year may remain volatile till the election results. Spike may be seen in this month or the next one either side. Trend is still bullish and doji on the higher levels may indicate a reversal after a price action formation. This month was a volatile one and market didn't settle either side. There was days when market has moved more than 400 points. Last day move, is the only trending move in last 2 weeks, closing 180 points lower from the day high. Price action is needed to be formed around the higher levels on higher time frame to confirm the trend.
NSE:NIFTY
by Mambotrade
LT Weekly follow up and track Since the channel has been broken wave iii is complete and we are in a wave iv . It has reached wave 4 of one lesser degree . Since wave iii is a 5 wave move with and extended wave 1 , we can expect correction till wave 2 of one lesser degree ie the blue patch shown . Note we can initiate buying only when reversal with support occurs eg Hammer , Morning star , Moribozu , Engulfing green etc . buying then will be considered established only when the highest high of these formations are traded with support . Regards
NSE:LT
by AJAYSHARMA
NIFTY failed to REVERSE! What’s next? As we can see NIFTY broke down our channel and fell unidirectionally despite our view being on the buy side as we expected a strong REVERSAL from given levels. Now we can see it has formed more like a marabozu candle in daily time frame showing weakness hence if NIFTY opens weak to flat then we may see another strong downfall else if opens strong and inside the structure then we may see a strong REVERSAL so must be ready for both side tomorrow so plan your trades accordingly.
NSE:NIFTY
by Wealthcam
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