Inverted Cup & Handle pattern in monthly timeframeHello All,
Market is at very important point where it can take support and go higher and if rejection we have big fall.
My expectation is at least 3000 points if cup and handle broke.
FED hike warnings really bothering the market and on Friday it broke previous low and touches 20% fall from Jan 2022. However if it closed with the same momentum on Friday then we would’ve seen big gap down on Monday opening.
Please note this is just my observation only and for purely for educational purposes.
Trade at your own risk.
DJI
BANKNIFTY & NIFTY SUPPORT AND RESISTANCE FOR [16-06-2022]NSE:BANKNIFTY1!
The market has been moving in a range and refusing to break the 33200 support zone multiple times.
the bounce back is expected from this level.
but the downtrend is still intact unless it breaks any swing high and forms a higher low.
please find necessary support and resistance on the chart.
NSE:NIFTY
nifty major support 15650 tested multiple times and rebounded.
sgx nifty signalling a positive start today any long should be only above 15900- 15950.
happy trading , keep learning
DOW JONES: A leading diagonalIndex is unfolding as a leading diagonal of which 4th wave is already concluded and right now we are into the last stages to complete the 5th wave of this leading diagonal which will bring the index below the level of 30635 in the near term. Traders should remain short for the minimum target region of 30600-30000 in the coming weeks with stop loss of 32600.
Bitcoin vs Cardano, Ethereum, Solana, SPX, NDX & DJI + Altcoins I've been looking at the major US indexes (SPX, DJI & NDX), as well as some of the TOP Altcoins within the cryptocurrency market (Ethereum, Cardano, Solana, Polkador), they are all bearish right now on the major/weekly timeframe.
This week we saw mentions in the "news" about Bitcoin and the S&P 500 Index detaching... Sounds fishy.
Maybe detach over the weekend so we get a surprise dump on Monday...
We have a strong downtrend with Bitcoin since November 10 and we were expecting a bounce and the bounce took place.
Bitcoin set the low at $32,950 and bounced to $45,850, that's 39%, really strong.
This same level where we are seeing a rejection now matches EMA50 and EMA10 (around $44/$45,000).
The weekly candle hasn't close though, it closes in 6 hours from now but the bears are getting the upper hand on this chart.
There is some potential to see the Altcoins growing, the smaller ones, while Bitcoin and the major ones correct but, there is always an initial strong reaction if the big ones drop where everything drops... We just wait, it recovers in a few days.
Stay calm.
Keep a calm mind.
As spring comes (March) everything moves ahead (UP/GREEN!).
Thank you for reading.
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Namaste.