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BALUFORGE - Is it time for the Surge? Technically, this is a continuation consolidation. Usually Wave 3 which is about to start is considered to be the longest. So fingers crossed🤞. Balu Forge Industries Limited is a leading Indian company that manufactures crankshafts and other forged components for various industries. The company was founded in 1989 and has since expanded its operations to become a preferred supplier of crankshafts to OEMs in India and around the world. The forging industry plays a crucial role in supporting various sectors, including: Automotive: Forging is used to manufacture critical components such as crankshafts, gears, and axles. Aerospace: Forging is used to manufacture lightweight, high-strength components for aircraft and spacecraft. Energy: Forging is used to manufacture components for wind turbines, hydroelectric power plants, and nuclear power plants. Construction: Forging is used to manufacture components for heavy machinery, such as excavators and bulldozers. Balu Forge caters to these sectors by manufacturing a range of forged components, including crankshafts, gears, axles, and other critical components. In terms of market position in India, Balu Forge is a leading player in the forging industry, with a strong presence in the automotive and aerospace sectors. The company has a market capitalization of around ₹8,962 crore.
NSE:BALUFORGELong
by CannySunny
3
Gold-> Buyer Back Yet?After suffering significant losses last week, gold has regained its recovery momentum and is trading positively above $2,600 on Monday. The fundamental backdrop supports this recovery. Key resistance levels at $2,518 and $2,628 now divide the market into two distinct zones. Meanwhile, market participants are awaiting moves from several Fed officials this week to gain further insights into the U.S. interest rate trajectory. The most likely scenario at the moment is a slight recovery in gold prices following the recent steep sell-off, with expectations for gold to climb higher after several reversals in the USD. In the medium term, bulls need to reassess U.S. policy planning in December, as the Fed is expected to hold rates steady in January. This has not been fully priced into the market, so any adjustments could pose challenges for gold. Technically, since the market opened, prices have climbed considerably, increasing the likelihood of resistance capping further upward movement. A false breakout at $2,589 and subsequent consolidation below this zone would strengthen selling pressure. However, there is potential for a retest of $2,618 (Order Block). Similarly, a failed breakout could trigger selling momentum. But if the fundamentals align strongly in favor of gold, the market may have a chance to shift the local trend from the $2,618 zone.
OANDA:XAUUSDShort
by Bo-Samson
Bitcoin Strategy: Cup & Handle, Flag Pole, Parallel ChannelIf you're aiming to maximize gains using multiple setups across different timeframes, this strategy combines three powerful patterns: the Weekly Cup & Handle, Flag Pole, and Daily Parallel Channel. Here’s how to execute this structured approach for optimal entry, exit, and profit potential. Weekly Cup & Handle Timeframe: November 15, 2021 – October 14, 2024 Breakout: Achieved on October 14, 2024 Target: 82,000 (same as the Flag Pole) The breakout from this long-term Cup & Handle pattern suggests strong bullish momentum and a solid foundation for long-term gains. This setup aligns with the target and stop-loss criteria from the Flag Pole pattern for a consistent strategy. Weekly Flag Pole Pattern Timeframe: October 16, 2023 – March 11, 2024 Target: 1 lakh Stop Loss (SL): 66,000 (below the last swing low) The weekly Flag Pole pattern reinforces the Cup & Handle trend, providing a shorter-term opportunity within the larger uptrend. Enter in tranches to capture initial momentum and add on pullbacks. Daily Parallel Channel Timeframe: March 5, 2024 – October 18, 2024 Breakout: October 18, 2024 (retest completed) The breakout and retest of the daily Parallel Channel on October 18 offer a shorter-term entry point. Targeting 1 lakh on this setup aligns with the long-term patterns, with Target 1 at 82,000 and Target 2 at 1 lakh. Execution Strategy Enter in Tranches: Start your position now and add on each pullback. Confirm Pullbacks: Look for a reversal on the daily candlestick pattern after each pullback. Manage Risk: Keep the SL at 66,000, set below the last swing low, to protect your capital. Summary of Targets Target 1: 82,000 (aligned with Cup & Handle and Flag Pole) Target 2: 1 lakh (Parallel Channel breakout) By combining these setups, you capture both long-term and short-term price movements, maximizing your potential for profit while managing risk effectively.
BITSTAMP:BTCUSDLong
by ayusharya_001
1
Morepen Lab - Bullish Flag and Fibonacci RetracementMorepen Lab has formed a bullish flag pattern, and today it has successfully broken out. The price has retested the Fibonacci level at 38, where it formed a bullish piercing pattern, signaling potential upside momentum. Price take support of 50 period EMA. Additionally, this level coincides with a significant demand zone on the chart, suggesting strong buying interest. Keep an eye on this stock for further upward movement
NSE:MOREPENLABLong
by Arvind_Share_Academy
GOLD: Bullish - FLAG detected + Breakout of the range.GOLD: Bullish - FLAG detected + Breakout of the range. 1- A "Head Shoulders" has been detected and we did a perfect Take profit ( TP1) at 2 395$. 2- When we break a range the Take profit should be the Height of the range. Then the TP2 is expected around 2 518$. 3- Plus we can also consider that the range is like a flag and then the TP3 ( green arrow) is expevted around 3 030$ The red horizontals are retracements regarding ICHIMOKU levels . However a retracement Fibonacci gives a target lower around 2 100$. Be careful
OANDA:XAUUSDLong
by Le-Loup-de-Zurich