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GBPUSD bulls step back from key resistance ahead of UK GDPGBPUSD retreats from the 11-week-old descending trend line as the traders await the first readings of the Q2 2022 UK GDP. In addition to the trend line hurdle, the 38.2% Fibonacci retracement of the March-July downside, near 1.2345, guards the pair’s immediate upside. Following that, the 100-DMA hurdle surrounding 1.2435 will be in focus. In a case where the quote remains strong past 1.2435, the odds of witnessing a run-up towards May’s peak of 1.2665 can’t be ruled out. On the contrary, GBPUSD sellers can aim for the 21-DMA support near 1.2075 during further weakness. It’s worth noting, however, that the quote’s downside beneath 1.2075 will have the two-month-old resistance-turned-support line, around 1.1955, as the last defense for buyers. In a case where the quote remains weak past 1.1955, the odds of its south-run towards the yearly low near 1.1860 can’t be ruled out. Overall, GBPUSD bulls are in the driver’s seat ahead of the key UK GDP data. It should be observed that the British economy is likely to witness recession and hence positive surprise will be welcomed with zeal considering the pre-data bullish bias.
by MTradingGlobal
3
The Cup & Handle patternHey everyone! 👋 Today we are going to share an informative write-up about the “Cup and Handle” pattern along with a few exhibits that may help you solidify your understanding of this chart pattern. Please remember this is an educational post to help all of our members better understand concepts used in trading or investing. This in no way promotes a particular style of trading! The post will shed some light on the following topics: → Basics and identification of the pattern → Components → Important aspects What is a Cup and Handle pattern? • The Cup and Handle is a bullish continuation pattern that resembles a cup with a handle. • The cup is visualized as the alphabet "u" and looks like a rounding bottom pattern. • The handle is formed as a range or a smaller “u”. • The cup marks a consolidation phase whereas the handle has a slight downward move, which marks a retest phase. • The handle is meant to signal a buying opportunity. When this part of the price formation is over, the stock may reverse the course and resume the prior uptrend. Components of a Cup and Handle pattern: The cup and handle chart has 3 main components: • Cup • Handle • Neckline Important aspects: 1. Prior Trend: The cup and handle pattern is a bullish continuation pattern, hence the prior trend should be an uptrend. 2. Cup length : In general, the cups with longer and more "U" shaped bottoms that resemble a rounding bottom, provide a stronger signal. This ensures that the cup is a consolidation pattern with valid support at the bottom of the “U”. The perfect pattern would have equal highs on both sides of the cup, but this is not always the case. In general, cups with sharp "V" bottoms should be avoided because there is almost no consolidation in this case. 3. Cup depth: Normally, the cup should not be overly deep. In practice, the cup depth can be up to 60-70% of the last swing move. (This can vary widely, though.) 4. Handle: The handle can occur in the form of a flag, a pennant, or a rectangular consolidation. This is the final retracement phase before the impulsive move higher. By and large, the handle can retrace anywhere between 40-60% of the depth of the cup. 5. Breakout: Bullish confirmation comes when the pattern breaks above the neckline (made using the prior highs) with a good volume. 6. Volume: In general, the volumes should decrease during the formation of the base of the cup as well as during the formation of the handle. Conversely, the volumes should pick up when the stock begins to make its move higher, back up to test the previous high. 7. Target: Using the measurement objective, the target comes out to be equal to the depth of the cup. It can be measured by calculating the distance between the bottom of the base and the neckline. 8. Stop-loss: Ideally, the stop loss is placed at the lowest point of the handle. But if the price oscillated up and down a number of times within the handle, the stop-loss can also be placed below the most recent swing low. Exhibit: Cup and Handle pattern with a failed breakout Thanks for reading! As we mentioned before, this isn't trading advice, but rather information about a tool that many traders use. Hope this was helpful! See you all next week. 🙂 – Team TradingView Feel free to check us out on Twitter , Instagram , YouTube , and Telegram . 💘
NSE:APARINDSEducation
by TradingView
16
Godrej Properties: Elliott Wave Viewodrej Properties has been bearish from 2021-10-14, As seen from wave structure it looks in primary wave 2] and may have completed its correction near 1133 level. We are assuming ABC of correction has been finalized and it has started an impulsive move towards its all time high. The 1133 will be an invalidation point for this impulsive move. Long can be initiated near 1280-1300 levels or we can hold the instrument for much higher targets. Note it has not reached the desired level of 61.8% retracement. Please take the advise of your financial advisor for any trade or investment. Regards Like if you like the analysis.
NSE:GODREJPROPLong
by imkhushal
10
Multiple Reversal patterns in Nifty IT !!!As visible on charts CNXIT has given a breakout from multiple reversal patterns which are Island Reversal, Double Bottom, Inverse Head & Shoulder. CNXIT has formed double bottom around 26450 along with RSI divergence and finally given its breakout at 28600. The index fell with a gap and also reversed with a gap hence, leaving behind an island and showing an island reversal pattern. Along, with above two patterns, inverse head & shoulder are also visible which further conforms to a reversal in the IT sector.
NSE:CNXITLong
by Chaser30
10
Himadri Speciality forming probable flag and pole patternHimadri Speciality is forming flag & pole Pattern in a daily chart frame. If today's candle close above 88 range, then we can see a clear breakout and it should confirmed by next day candle. After this breakout stock will test 93 range first, once it break 94 range, it has a potential to reach 112 range as per the pattern. Ideal SL will be below 78. Wait for supply zone breakout for the confirmation. This is just a View, not recommendation to trade, do your own analysis before taking any trade. NSE:HSCL
NSE:HSCLLong
by KaravaliTradingZone_Official
27
What is moving average?If you have been in the market for some time, you may have heard of an indicator called the “moving average”. Today we are going to take a deeper look at the indicator, along with a few examples of how pros use it. This post will also lay the groundwork for future posts about more advanced moving average topics. Please remember this is an educational post to help all of our members better understand concepts used in trading or investing. This in no way promotes a particular style of trading! The post will shed some light on the following topics: - What is a moving average? - How does moving average work? - Correct usage along with exhibits Introduction A moving average (MA) is a technical indicator that is commonly used to determine the direction of the trend. By continuously recalculating the average based on the most recent price data, a moving average assists in smoothing out the price data. This helps in reducing the impacts of random short-term variations of the price over a given period of time. Working with moving averages - Moving averages are typically calculated to determine the direction of the trend and are sometimes used as dynamic support and resistance levels for a given time period. Exhibit: Moving averages acting as a dynamic support Exhibit: Moving averages acting as a dynamic resistance - Since a moving average is derived using historical prices, it is a lagging indicator. - The lag increases with the length of the moving average. As a result, a 200-period moving average (which includes prices for the previous 200 periods), will lag significantly behind a 100-period MA. - Likewise, a moving average with a shorter period (faster MA) will be more sensitive to price changes as compared to a slower one. Usage - Faster moving averages are typically employed for short-term trading, while slower moving averages are more often utilized for understanding longer-term market dynamics. - Moving averages are applicable to all time frames. Therefore, experimenting and testing several settings over a range of time frames is the best approach to determine which one works for you. - A rising moving average indicates strength, while a falling moving average indicates weakness. Hence, in general, a stock is said to be in an uptrend if its moving average is increasing, whereas in a downtrend if MA is decreasing. - In general, a stock may show bullish momentum if there is a bullish crossover, i.e. when a faster moving average crosses above a slower moving average. - Conversely, bearish momentum may be expected on a bearish crossover, which occurs when a slower-moving average crosses below a faster-moving average. Thanks for reading! As we mentioned before, this isn't trading advice, but rather information about a tool that many traders use. Hope this was helpful! See you all next week. 🙂 – Team TradingView Feel free to check us out on Twitter , Instagram , and YouTube for more awesome content! 💘
NSE:RELIANCEEducation
by TradingView
17
TATA STEEL APPROACHING TO ITS CRUCIAL RESISTANCEAfter split the stock has rallied, almost 12% which now has put the prices at resistance zone (106-110) which was acted as a strong support. The zone is around 106 - 110 -------------------👎🏻👎🏻👎🏻 Some bad about this stock 1) prices trading below 200 day moving average. 2) Price corrected recently 45% which is huge. 3) The volatile metal prices, making business projections , dismal. 4) On chart we are seeing that it is trading below 110 level which was support earlier. +++++++++++++👍🏻👍🏻👍🏻 Some Good about this stock 1) Stock prices has shown a big rally recently 2) Overall market sentiments shifted slightly bullish , as after expected FED policy. 3) Metal sector overall on chart is bullish in short term. 4) RSI crossed 70 on daily chart , many will argue at this point that it is overbought case, but I don't think so. 5) Quarterly results were average. ============= Conclusion : Stock will be bullish above breakout of resistance zone , so plan accordingly. 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻 Comment below if you want to add or correct anything.
NSE:TATASTEELLong
by BusyBhai
24
Adding Custom Watchlists in TradingViewHi This is my first video idea on this website and this is about adding watchlists. I have tried to keep things raw and simple so that everybody understands it. There might be some other methods, of course, for this purpose but this is the one that I prefer to use. This method works in India and I have taken reference lists from the NSE India website. Excuse me about the background noise if any. I hope it will be useful for some users.
NSE:NIFTYEducation
by Bravetotrade
34
Options - Best & Worst Trading InstrumentOptions (Index & stock) have been double edged sword. In the hands of experienced traders, it has resulted into multi fold growth of capital but at the same time for beginners or new traders, it has been capital killer. Over the last 5 years, I have had opportunity to speak to hundreds of traders most of which have lost their hard earned money by trading options. Some of them have even gone to extent that they borrowed money from friends or banks to trade and only to lose it all by gambling in options. Lets review some of important factors which has given helped experienced traders earn lakhs or even crore daily from options while most are just losing out their capital. Factors resulting in losses for New Traders. 1. Lack of Technical Knowledge Most of so called traders ignore the importance of Technical Analysis and directly jump into option trading. Most are either following news or tips from various platform with zero understanding of when to trade, when to book profit & most of all when to book loss. Its like jumping into water without knowing how to swim. Technical Analysis understanding is very important as it will give an edge to trader and help them analyze key factors related to entry, stop loss & target. Even though their is no 100% success formula in trading but having correct knowledge can increase your success chances from 50% to 70-80%. 2. Random Trading Random or boredom trading is also another factor for failure of most option traders. Market gives us 1-2 good trading opportunity but many of us are part time traders who want to earn from market based on our availability and do not wish to wait for right opportunity given by market. Some will start the day with proper plan and only to get bored after couple of hours and then they will start trading randomly. 3. No Risk Management The most key aspect for a good trader is risk management. But all new option traders will initiate trade first and then think about SL/Target. They have no knowledge about position sizing and will risk all the capital on a hero or zero trade on weekly expiry. Most of new traders will keep their losing trades with the hope of recovery while book small profits due to fear of losing. 4. Use of High Leverage Unfortunately their are new trading platforms which float rules set by SEBI and provide High Leverage to attract new clients. People with small capital of 10-20K can buy 2-5 lots on an index option which can erode their capital in just 1-2 trades. Leverage trading can accelerate your losses 5-10 times which is another blunder for new traders. 5. Social Media Influence Nowadays we regularly see people making lakhs or crores of profits on daily basis and all social media platforms are full of such screenshots. Many of them may be great traders who are actually making money and others may have just put a doctored screenshot but this influence/attract new traders to directly jump into Option trading with the hope that they will also replicate this success. New Option traders completely ignore the hard work, analysis & planned work done by most successful traders and they only focus on money aspect which is main reason for their downfall. 6. Get Rich Quick Mentality Every one of us want to earn money and have luxurious life. But most of us forget about hard work & practice which is required to reach their. Everyone is now directly jumping into Option trading with mindset to double or triple their capital in a short span without even putting a month of effort. When I have discussed expected monthly returns by most new Option traders, most common answer is 30-40% return on the capital in a month which translate into 350-500% return in a year. When we get 5-6% return in a year from fixed deposits, people are not happy with 5-7% return per month from trading. Experienced Traders on other hand have following attributes which makes them winner. 1. Technical Expertise All pro traders have a setup, strategy or proper knowledge of Technical Analysis which they have practiced over and over again for many years. It is not about having hundred strategies but have 2-3 strategies which you have practiced countless times in Live Market. 2. Trading Plan All good traders have a plan w.r.t. maximum number of trades in a day/week/month. Maximum loss or profit their are willing to take before they close the system. They have understood that it is important to stick to a plan for long term success in trading. 3. Only Trade Right Opportunities Patience is the key in trading and experienced traders knows this well. They wait for stock/index to come to their defined levels & form right setup before they initiate the trade. They are like sniper who patiently wait till all the factors are right to take the shot. 4. Focus on Risk Management Risk management is by far most crucial aspect of trading. Importance of Risk Management is only understood by those who have been in market for some time. Although most think that it is the winning strategy of setup which will earn your money but only few focus on psychology building which include not taking revenge trade, do proper position sizing so that you are not under influence of fear or greed. In the end, I only want to pass the message that Option trading is the last instrument which a new trader should jump into. Anyone starting trading should start with Equity as it has less volatility compared to Options and person can try their strategies for smaller risks. Do you resonate with any of the factors above? Share your inputs on how you have grown to be a successful Option Trader. Thanks Piyush Gupta Learn & Earn
NSE:NIFTYEducation
by Piyush-Gupta
51
GMTUSD : Ascending TriangleSTEPN (GMT) Price Prediction 2022 The above chart of STEPN (GMT) laid out an Ascending triangle pattern, The ascending triangle is a characteristic pattern of an ongoing bullish trend. This triangle is formed by a horizontal upper trendline that connects the highs and the lower trendline that connects the rising lows. If the trend breakout at the resistance level, the price will continue to move up in this ascending triangle pattern. Currently, STEPN (GMT) is in the range of $0.98137. If the pattern continues, the price of GMT might reach the resistance levels of $1.16571 and $2.18040. If the trend reverses, then the price of GMT may fall to $0.80107 and 0.55366. From the above daily time frame, we can clearly interpret the following as the resistance and support levels of STEPN (GMT). Resistance Level 1 $1.11771 Resistance Level 2 $1.54502 Resistance Level 3 $2.24806 Support Level 1 $0.83766 Support Level 2 $0.53816 GMT Resistance & Support Level The charts show that STEPN (GMT) has performed a bullish trend over the past month. If this trend continues, GMT might run along with the bulls overtaking its resistance level at $2.24806. Accordingly, if the investors turn against the crypto, the price of STEPN (GMT) might plummet to almost $0.53816, a bearish signal.
Long
by TheNewsCrypto
5
Nifty Wave Z of B in progressDetails on chart just for study purpose. Don't jump on trade in advance this is just forecast so relax. In case Nifty breaks 0.618 Fibonacci and goes below 16000 then can consider dip started this has low probability. DISCLAIMER: There is no guarantee of profits or no exceptions from losses. The stock and its levels discussed are solely the personal views of my research. You are advised to rely on your judgement while investing/Trading decisions. Seek help of your financial advisor before investing/trading. Investment Warnings: We would like to draw your attention to the following important investment warnings. -Investment is subject to market risks. -The value of shares and investments and the income derived from them can go down as well as up. -Investors may not get back the amount they invested - losing one's shirt is a real risk. -Past performance is not a guide to future performance. -I may or may not trade this analysis --------------------------(((((LIKE)))))-------------------------------
NSE:NIFTYShort
by Niftydirection
36
AUDUSD:CASE OF ENDING DIAGONAL Theory: DIAGONAL: Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of the wave 1. Properties Of Diagonals: Diagonals can be contracting or expanding type being expanding diagonal a rare one. In contracting type, wave 3 is shorter than wave 1, wave 5 is shorter than wave 3, and wave 4 is shorter than wave 2. In expanding type, wave 3 is longer than wave 1, wave 5 is longer than wave 3, and wave 4 is longer than wave 2. Types Of Diagonals: LEADING DIAGONAL ENDING DIAGONAL LEADING DIAGONAL: In a leading diagonal , waves 1,3, and 5 are all impulsive in nature or all in corrective form of zigzags. Wave 2 and wave 4 are always present in a zigzag form. A leading diagonal suggests the starting of a new wave & that is why it can develop wave 1 of a impulse wave and a first wave of a zigzag pattern. ENDING DIAGONAL : This is the most common diagonal that can be found out at the ending of a main trend or main correction. It consists of all the waves 1-2-3-4-5 in a single or multiple zigzags. They can be found placed at 5th wave of an impulse wave or can been seen as a wave ‘C’ of a corrective waves zigzags or flat. After the termination of the ending diagonal , a swift & a sharp reversal takes place which bring the prices back to the level from where the diagonal began. TRADING STRATEGY: Buy AUDUSD with SL of 0.66800 (clbs) and look for the upside targets of 0.7000/ 0.71000/ 0.71800
Long
by TradingSutra
5