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Fibonacci Retracement

IBULHSGFIN LONG POSITIONAL/SWING TRADE In depth price action analysis : 1. Indiabulls Housing Finance seems to have found a bottom after the covid crash in March 2020, forming an ascending triangle ever since, and recently giving a breakout with decent volume. 2. There has been an increase in volume not seen before post 2020 suggesting interest in stock. Currently price is retracing back to support zone. 3. The pullback in price has decreasing volume compared to the breakout volume suggesting that this is possibly not a throwback into the triangle, but rather, a re-test of previous resistance as support . 4. Weekly 21 and 55 EMA is currently acting as support. Note that there is a bullish cross of the 21 and 55 WEMA which is a positive sign for bullish continuation. 5. Price is trading above Point of Control (POC) of the volume profile which is another positive sign. 6. Currently price is nearing 0.382 retracement but a pullback to even 0.5 retracement can be possible. 7. Weekly RSI is approaching 50 which means price is cooled down signficantly. price may consolidate further or retrace pulling the RSI down to 43 levels and find support on the RSI trendline which has been forming since more than one year, and bullish momentum will still be preserved. What to expect : 1. Price may find support at current levels (235-245) which will be good for continued bullish momentum, as RSI is approaching oversold levels on daily timeframe. 2. in case price doesn't hold support at 235 levels, price may continue to retrace to the POC level (220) which is also strong support, and price will continue to form Higher Highs and Higher Lows if 220 support holds. 3. If price fails to hold 220 levels, last stand for bulls would be 190 levels which is the next strong support zone and trendline support from ascending triangle. 190 would be the bulls' final fighting stance to preserve continued upward momentum. Trade setup Position size build up can be as follows (this is just an example) 1. 30% of position size at CMP and if there is a reversal from 235-245 levels further 70% can be deployed. 2. In case 235-245 support fails to hold, another 30% can be deployed at 220 levels and the rest 40% after reversal is confirmed. Targets and Stop Loss 1. Conservative/swing trade stop loss (1-3 months) = 218 which is POC invalidation point. 2. Positional trade stop loss (3-6 months) = 179 which is ascending triangle trendline support breaking point beyond which trade setup will be invalidated completely. 3. First target for swing trade = 310 4. Second target for swing/positional trade = 360 5. Third target for positional trade = 465 6. Price can even go back to previous All Time Highs if trade is kept for a longer period of time. Please manage position size based on risk appetite and have a suitable risk to reward ratio of your choice. Note: This is not financial advice, this post is for educational purposes only. Thank you for reading through this detailed analysis and kindly leave a like if you liked this post! If there are any questions, please leave it down in the comments section.
ILong
by apratimbanerjee08
5
SBIN LONGOn the daily charts of SBIN, it can be seen that it is taking support of its recent trendline (yellow one) and there is a year old resistance too (green one). (OPEN CHART ABOVE) Also, on the weekly charts, a breakout then a retracement kind of action is seen. Also there is a good buying pressure at the day end today. This shows that soon a breakout is expected on the daily charts from the green line. One may look for buying opportunities above 445 with good volumes and good candle body. Expected targets could be 456, 471, 490. Stop loss, considering buy around 445. could be at 425. TRAIL STOP LOSS FOLLOW IF YOU LIKE THE ANALYSIS LIKE AND COMMENT WHAT YOU THINK ABOUT IT!!
NSE:SBINLong
by Keshav2329
2
Huge opportunity on Ethereum.Reasons why I'm bullish: - All of the daily Moving Averages are pointing up, meaning that the prince is tending to go up. - ETH went up for 13 consecutive days, we need a pullback to keep going up. - The daily RSI showed that ETH was overbought for the first time after 13 days (Good sign for a pullback). - We have a nice and clean Double Bottom on the daily chart . - The (0.382) Fibonacci Retracement is extremely close to our zone of action in our double bottom and the (0.5) Fibonacci is right on a previous support area . MY BUY ZONE is between: $2198 - $2400 MY TARGETS are: 1- $2900 (~29%) 2- $3160 (~40%) 3- $3440 (~53%) MY Stop Loss is: $1800 (-20%) Always do your own research before getting in a trade, you always need to know the WHY and WHEN to entry and exit all your trades. Disclaimer: This is not financial advise, this post is for educational purposes only.
Long
by ClubCryptoTraders
Cypher Harmonic With Crazy Confluences Both on 35k and 45k!here you see a crazy Potential Cypher Harmonic that i found with crazy confluence on 35k. my plan is to take the long on B (35k) and trade it up to C ( 45k ) There i have crazy Confluences aswell. this is just godmode if it happens on 8th of august. i love it when it all comes together. Smash that Like button , and hit me in the comments! for more Crazy Confluences Provided by Thunderboy21 Bringing Thunder in the markets! Take care!
Long
by Thunderboy21
2
HUGE OPPORTUNITY on ETH/USDTReasons why I'm bullish: - All of the daily Moving Averages are pointing up, meaning that the prince is tending to go up. - ETH went up for 13 consecutive days, we need a retracement to keep going up. - The daily RSI showed that ETH was overbought for the first time after 13 days (Good sign for a retracement). - We have a nice and clean Double Bottom on the daily chart. - The (0.382) Fibonacci Retracement is extremely close to our zone of action in our double bottom and the (0.5) Fibonacci is right on a previous support area. MY BUY ZONE is between: $2198 - $2400 MY TARGETS are: 1- $2900 (~29%) 2- $3160 (~40%) 3- $3440 (~53%) MY Stop Loss is: $1800 (-20%) Always do your own research before getting in a trade, you always need to know the WHY and WHEN to entry and exit all your trades. Disclaimer: This is not financial advise, this post is for educational purposes only.
Long
by ClubCryptoTraders
Concor BuyIn this current market, Concor seems to be the goos trade in the coming days. Fib retracement 50% support playing good Support for the stock DOJI formation at the bottom can be a reversal signal. Don't be in hurry to trade SL can be 652 on closing Basis Targets can be 700 and 730 for swing. Buy Aug month contract for a good move. Just like Wipro, good returns are expected from the stock Grandfather, Father, and son strategy. If you have not seen This strategy watch my Wipro IDEA shared on Tradin View Results can furious. Buy on dip here on the stock.
NSE:CONCOR
by Pro_Trader_GRV
4
KOPRAN: Starting on a bearish trend" TECHNICAL ANALYSIS OF NSE:KOPRAN The LAST CLOSE PRICE of NSE: KOPRAN is 232.45 . The PARABOLIC SAR is showing the DOWNWARD SIGNAL with TREND as DOWN TREND . The FIBONACCI LEVELS analysis shows that the CLOSEST FIBONACCI LEVELS is 0.236 at the FIBONACCI STOCK PRICE LEVEL of 229.05. From here, the Key Support and Resistance levels are SUPPORT 1 at 250.07, SUPPORT 2 at 237.55 with RESISTANCE 1 and RESISTANCE 2 at 221.45 and 203.35 respectively. The Key 50% FIBONACCI LEVEL stands at 237.55 which is the crucial Fibonacci Level determining whether the scrip will maintain the trend or not. The STOC RSI has the values K and D as 4.04 and 3.52 respectively. At this level it the status is OVER SOLD. When we look at the Moving Averages, MACD is the crucial indicator to look into. With MACD VALUE at 7.17 and 7.18 at 9.04 along with HISTOGRAM showing values of -1.87, the STATUS is clearly DOWNWARDS. The best indicator to determine the Trend Reversal is FISHER TRANSFORM and currently the values of FISHER and TRIGGER stand at -1.56 and -1.58 with DOWNTREND as DOWNTREND. A very important factor while making the investment is to see if there has been already too much of Buying or Selling, and that are we entering too late into the transaction or not. Thus, with WILLIAM's R% value at -0.7584 the STATUS is WITHIN OVER BOUGHT AND OVER SOLD RANGE. No one wants to buy costly things, and thus always look for the bargain or appropriate price levels to buy things. Same applies to Stocks, however the only exception would be some Hot Stocks that one wants to have any price. Looking at this perspective, the P/E RATIO of the stock stands at 16.08 which signifies its Price Level to be AVERAGE. >>> RECOMMENDATION is : SELL." Disclaimer: The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis.
NSE:KOPRAN
by finogent
How to think like a trader and gain 8% in BPCLFollow me on trading view : in.tradingview.com This is a series where we discuss stocks recommended by you guys: Just comment on the fav stock you want analysis on or DM me ;) 👑 Terms used if you don't know : ✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins ✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows ✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges , and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts ✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position. ✣ Supply/ Demand: In the supply zone , the prices are higher than the bid price, and in the demand zone , they are lower. The bid price is what a trader is willing to pay for a stock 👑 Important levels - explained well 👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :) ⌛ Motivational and psychological area ⌛ ✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only. ✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow ✣Don't lose hope and keep grinding ✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily. ✣Focus on the process, you are here to make money not stupid decisions and lose it all ✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market. ✣Believe in yourself :) 🎓🎓 Some info about me :) ➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all. ➼I hope you will love my simple analysis style. ➼Feel free to suggest your view on this as learning is earning here :) ➼I take my trades on my Zerodha account :) ➼I don't take all the trades I post ➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
NSE:BPCLLong
by Averoy_Apoorv_Analysis
15