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Correction

Upwards correction; Short-term Elliotical approach to XAUUSD.Hello Traders! 1. We see a 5 -wave impulse down which had been expected a long time coming. 2. Now there is an expected correction upwards from the market. 3. We have clear strong support and resistance . 4. Breaking of the Trend line should confirm our entry. The break of waves 2-4 trendline mostly marks the confirmation of the beginning of the correction. 5. Be smart with your risks. Trading a correction is very risky and is not advised for beginner traders. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
OANDA:XAUUSDLong
by UnknownUnicorn27677748
A word of caution for Investors, Nifty's downside targetsin.tradingview.com Nifty has been performing poorly since the last three months, even if we leave the index constituents aside, the situation is even more dire in midcap and small cap indexes some of which can be attributed to the Adani stocks. Adani stocks, put pressure on the banking index and banking index constituents especially SBI collapsed due to the grenade explosion orchestrated by Hindenburg's report. Meanwhile Nifty IT, Nifty metals, Nifty AUTO did try to give support to the market, despite these sectors performing there was a broadway midcap sell off conducted in the last 3 months. Recently China opened its borders and said it was ready to shrug off covid(finally!) and open its borders for business. This news set the Chinese markets blazing and were up nearly 40% from their near time lows. Moreover the valuation comfort in the chinese markets which were nearly half as expensive as their Indian counterpart, gave fuel to the FIIs sell off. As Indian markets was the place where FIIs could book their yearly profits and pocket their fat bonus cheques. Now coming to the mother market, US. DOW Jones had been a failure for the 5th time last week to give a weekly close above 34k levels.(link to the explanation below). The inflation numbers had been blazing hot, new mortgage applications at a 25 year low, fed's target rate 4.5-4.75 % already high enough to give US residents a headache and further talks to increase it by 50 bips, phew ! It is now becoming highly probable that there might not be any soft landing now and the fall, consuming many , will be a hard one. Since US would be raising rates further, despite the situation being fine in India, Indian RBI governor will have to raise rates in India to arrest any declines in Rupee vs US dollar, which will ultimately put pressure on Indian equity markets too. Many Indian banks are already offering fixed deposit rates as high as 7-8.5%(and further high if you are a senior citizen). If you look deeper, soverign gilt funds are offering good options too and Indian treasuries are offering yields as high as 7.4%, imagine what the equity markets have to compete with ! Alas, I would like to say, overall macros and micros do not look good for the equity markets across globe. For all the investors/traders who entered the markets post covid, and "BUY on dips", was their holy sentence, my suggestion to hold your horses for the time being , take a step back and assess what the markets are trying to convey. My targets for Nifty over the next 6 months might seem to be disturbing but I have tried to chalk out the scenari that Im able to foresee. Let me know in the comments what do you think about market future.
NSE:NIFTYShort
by TanmayAggarwal
4
Track the correction on 30min in Ethereum to catch the big move.Candlestick Chart + The moving average lines are contracted. + Track the price until it crosses either 50ema or 100ema lines. + It may test the level of 200ema to end its correction. + So, the levels of 1600 to 1626 may be tested to complete the correction. Renko Chart (Brick Size = 7.5) + Fibonacci Retracement The price can test the level of 1626 which is 38% level of retracement. Conclusion: 1. The coin is in the correction mode. 2. Wait for the correction to be completed. Thanks Er. Simranjit Singh Virdi
Long
by ssvirdi
SUPPORT & RESISTANCE EXPLAINED IN NIFTYIn the Nifty chart, we can see that the Index was rejected multiple times along the trendline drawn and finally managed to give a breakthrough above the trendline. Now, this resistance trendline is likely to act as a support trendline. On Elliot wave analysis, the up move is currently at wave five, and we can expect a correction that will re-test the trendline. The Index should test the support zone (17650 levels) and resume its upward rally.
NSE:NIFTY
by Stock-Holmes
#Gold Breakout ? #Analysis of momentum and #Trend #PriceActionsHii This is my analysis on gold first i used green monthly trend line if it breaks market will go down . if comes toward the mean of the line or say pullback in uptrend is consider . and price touches red color resistance zone almost 6 times . if it breaks and retrace is consider as perfect breakout . so wait for breakout . and i use Hikanashi to show u momentum . in candlestick it is not seen easly . .sry i am late but i post same thing in mind chat Thank u
TVC:GOLD
by priyanshuraj620722
SIEMENS Ready for a Sharp CORRECTION MOVE ??!!!Chart patterns poise way for the above titled opinion Reasons 1. SIEMENS travelling in a Ascending channel (From 2019)(Bright red & green lines shown in chart). 2. Now, it seems ready for the downswing (white trendline descending channel shown in chart) inside the Ascending channel. 3. Rounding top too confirming the chances of down move . 4. GAP b/w 6th & 7th December is acting as Support. Entry can be made after the yellow trendline gets broken.(Keeping the high of the breakdown candle as SL) FIB 0.5 can act as support in downside(1st target)- 2645 Safe SL mentioned @ chart.(IF WE ENTER NOW) Let's wait & watch how it moves!!!! Note - Just Sharing my view...not a tip nor advice!!!
NSE:SIEMENSShort
by mmjimm
BANKNIFTY MONDAY PREDICTION...#BANKNIFTY monday prediction... the market show downside move if market wants to go downside first market need to do some correction on monday then we sellers can confirm that the will be downside for this week... correction zone 42516 \,42721,42890. If the market break 42340 zone then we can go CE(CALL) first target 42550,42750.42900.... if the market break 41977 zone then we can go for PE(PUT) first target 41924,41806,41710. (IF you guys agree with my IDEA then follow me and like my analysis) THANK YOU.
NSE:BANKNIFTYShort
by sachdevaharsh07
1
S&P500 – TRADES | KW47 | INTRADAYIn today's post I present relevant marks of the S&P500 for the next week, which could support the one or the other, in their own analysis. = since it is a very short-term time frame, I will not comment further. = the technical analysis approaches, are shown in individual pictures in the contribution. So that an individual interpretation of the respective - standing alone - is possible. = the title picture shows an example, of a possible trade. This is one of many possible setups, because the current course is not able to take a clear direction. The following methods are used and shown in the following: - SUPPLY&DEMAND ZONES - FIBONACCI LEVEL - POINTS OF INTEREST - TREND LINES SUPPLY & DEMAND ZONES „4 hour + 1 day – time window“ „1 hour – time window“ „1-4 hour + 1 day – time window“ FIBONACCI LEVEL „Intraday - time window“ „Day - time window“ POINTS OF INTEREST „4 hour - time window“ TRENDLINES „Intraday - time window“ „Day - time window“ RAW VERSION WITHOUT DRAWINGS „4 hour - time window“ „1 hour - time window“ > Feel free to discuss this in the comments and share our perspectives, I'd be "burning" to hear your take on this. If this idea and explanation has added value to you, I would be very happy to receive a review of it. Thank you and happy trading!
OANDA:SPX500USD
by ZielIstDieAutarkie
IEX is about to complete it's correctionIndian energy exchange is now about to complete it's correction ,it is doing a double correction in major wave IV, fifth to the upside is still due. We can expect correction to complete near 124.85-125.85 and then final V wave target will be 407. And I'm expecting fifth to be extended because normal projection limit of wave V are 0.382 & 0.618 but as you can see these levels are already under wave III so wave V will be an extended wave.
NSE:IEXEducation
by leichtsinnig8868
Expecting a small correction in the AUTO SECTORNSE:CNXAUTO I am expecting a small correction in the Auto sector. It is because the price is facing resistance on the upper trendline. The MACD indicator is showing a small divergence as the MACD Line didn't went up when the price went up and giving random crossovers. It is moving in a range but the prices went up in past one month. The same is with the RSI, there is also a small divergence as the RSI is moving in a range and didn't went up with the prices in the past one month indicating loosing momentum. I am expecting the prices to correct and test its 50 EMA levels and extremely it could test the lower Trendline. But not expecting a Bear trend or a trend reversal, as the Sector has outperformed NIFTY 50 for the last 1 year. It is a good time to book partial profits and re enter at lower levels. Disclaimer : It is my own view and analysis. It is for educational purposes and not any type of Recommendation, call or a tip.
NSE:CNXAUTOShort
by Kunal-Battu
3
EURCHF Trading Plan - 04/Sep/2022Hello Traders, Hope you all are doing good!! I expect EURCHF to go Down after finishing this correction. Look for your SELL setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
Short
by For3xScalper