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Candlestick Analysis

Banknifty analysis for 19/07/24.Banknifty on the weekly time frame is still forming an inside candle. If it crosses the previous weekl high of 52800, a bullish trade can be made. The hourly time frame, there is a inverted Head and Shoulder pattern and the high probability trade can be initiated as Nifty is trading around Life time high of 24800. There is chances of BN catching up with other index. Major Break out level :- 52800 Targets :- 53080, 53250 In case the market starts break down, trade only once it break the support zone of 52150-52200. Wait for the price action around the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
Gold July 16 2024Technical: 1. W - Strong uptrend. 2. D - Strong uptrend. There is rejection at resistance yesterday and closed below resistance. 3. 4H - Strong uptrend. Structure is very steep. 4. It is at all time high resistance. 5. It reached resistance with fundamental support also. Fundamental: 1. USD negative so far.. 2. Powell speech was not much impact. It helped to retest the break. 3. USD has red data at 6PM IST - mostly negative Game plan: 1. Based on 4H structure, it may come down to 2397.695 to give retest. 2. Observe at this level what it doing. 3. If it rejects and made candle confirmation at 2433.302 at 1H timeframe, go for sell 4. If not getting chance to entry at 2433.302, wait for break of 2420 and take entry at retest. 5. Sell - Max target 2397.700. 6. Based upcoming economic data, we can expect it to go up and break resistance. 7. Buy - if market sustains above above 2433.300 - 2439.880 zone after break and retest to same zone. 8. Look for candle rejections before going for buy entry. 9. If you take entry , exit before the USD economic data release. or look for entry after the data release. If get time to update anything, will update here.
OANDA:XAUUSD
by Prabu_Thor
GBPUSD - July 16 2024Technical: 1. Strong uptrend in all timeframes. 2. Strong momentum. 3. It is at resistance. 4. 1H - Consolidation and no momentum either side. 5. So far no confirmation to go any side in both 4H and 1H. Fundamental: 1. USD data very negative so far. 2. Powell gave few good words about US economy but that won't help to go down. 3. GBP - No economic data for today. 4. USD - Red data at 6Pm. Game plan: 1. both buy and sell. 2. Sell - Double top, Rejections, 4h/1H candle confirmation, Medium risk Trail SL. 3. Buy - Go at marked levels. Based on confluence and confirmation, choose risk. 4. If it breaks resistance with strong bullish candle, go for trade. 5. Conservative sell - Wait for break and retest at 1.29612, then go for sell based on rejections candles. 6. US economic data may help to break above and go. Note: If you are in trade, exit before US economic data release. or after the data out, take entry based on situation. Hint: Mostly it would go up ;P
Long
by Prabu_Thor
1
GBPJPY - July 16 2024Technical Analysis: 1. Even though some weird selling pressure was there last week, it is still in uptrend. 2. W - Uptrend and last week rejected resistance and closed below resistance. 3. D - Uptrend and given fake out and closed below resistance. 4. 4H - There was buying pressure at support. 5. 4H - Made double bottom at support and candle stick confirmations. Fundamental: 1. No use of having GDP data coming out.=, the same day market dropped much. 2. No economic data for today. Game Plan: 1. Above 205.339 - Buy. 4H candle confirmation can be good at 204.726. 2. Below 204.500 - Sell. Break and retest and sustain below that level. 3. Be a buyer and take entry on marked support levels.
Long
by Prabu_Thor
1
BASML : Swing Trade#BASML : #SwingTrade >> TWS Recently >> Inverse Head & Shoulder Pattern Visible >> Trending setup >> Good Strength & Volumes Buildup >> Low Risk High Reward Trade Swing Traders Book 10% and keep trailing 🚧 Only for Quick 8-10% , not to Hold Longer 🛑Fundamentally stock is not that Good, Stock Picked Purely on Technical Analysis....so can be a Risky Bet Stock can show Quick 8-10-15% ka quick momentum then fall back See Upside Potential is 18% so we can easily target 10%
NSE:BASMLLong
by moneyfesttrading