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Harmonic Patterns

Gold will rebound from trend line and grow to 2700If we look at the chart, we can see how the price started falling inside the descending channel and then fell to the resistance level, coinciding with the resistance zone. The price traded in this area for a while and later broke through 2735 points, after which it fell to almost the support line of the channel, and then turned around and rose to the resistance line, and then continued to fall. In a short period of time, the price fell to the support level, coinciding with the support zone, and then rebounded, and then rose slightly, and then continued to fall, breaking through 2595 points. Gold later touched the trend line, and then turned around and began to rise, exiting the descending channel. The price soon rose to 2595 points, broke through again, and continued to rise near the trend line. So far, the price continues to rise near this line, and I expect XAUUSD to rebound from the trend line and start to rise to 2700 points.
OANDA:XAUUSD
by t60pt60p
1
GRASIM - UP for a 10% correction from 2500 levels? CMP - 2508 TF: daily 5 wave impulse from June'22 lows (1271) has ended at 2877.75. The Zone for the 5th wave termination was between 2731 to 2923 Internal counts are highlighted/mentioned in the chart for easy understanding. Upon completion of the 5 wave impulse, price came down in single leg about 380 points. We can consider this as wave A and then a corrective rise to 2833 for wave B and thereby making a Double TOP. Price is now trading in the C wave and could potentially head towards 2200-2100 levels in the coming sessions. This fall could very well be a 5 wave structure too.. but for now, I have labelled it as 3 wave down-move only. Break of the 2-4 trendline (rising trendline from wave 2 low of 1521 and wave 4 low of 2171) would confirm trend reversal For now. the AVWAP from the B wave top at 2645 will act as the RESISTANCE - Price has broken the swing low of 2505 and consolidating at the breakout zone. Needless to say, the first dip to this level was bought in to already.. the current consolidation could very well signify a potential breakdown. - the 2490-2510 range is also happens to be the 200 DEMA.. Price is consolidating here instead of bouncing up strongly. - Price on Daily TF is trading well below the Cloud, Base and Conversion lines.. - The next potential SUPPORTS are 2171 June'4th Low, and 2210 (AVWAP from the lows) - Since this is a retracement of the entire impulse from 1271 to 2877, the 50% fib level is placed at 2075 - In harmonic pattern, the minimum expected target is around 2250 - Assuming that this is a 3 wave swing, I have considered alternate Shark pattern in Harmonics.. if it goes past the X leg at 2182, then Cypher pattern will come in to play (target would be 1900 to 1700).. to be reviewed how it acts at 2000-2200 levels first. I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
NSE:GRASIMShort
by Murthy_Santhosh
1
USDJPY: Uptrend Faces Challenges at 156.65 ResistanceUSDJPY is currently trading at 155.68, reflecting a significant upward momentum in recent sessions. After successfully testing the strong support area at 153.40—a confluence of the 89 EMA and an ascending trendline—the pair surged sharply toward the key resistance zone at 156.65. However, the 156.65 – 157.00 zone is considered a "pressure area," with the potential to trigger a short-term correction. If the price fails to break above this resistance, USDJPY could pull back to test support at 154.70 or even deeper at 153.40. On the news front, the USD remains strong, driven by expectations that the Fed will maintain high interest rates, while the Bank of Japan continues its accommodative policy. Investors should pay close attention to key U.S. economic data, such as PMI figures and speeches from Fed officials this week, as these factors will strongly influence USDJPY's price action. Strategy: Monitor price reactions at the 156.65 resistance zone. A breakout could target 157.50, while rejection at this level increases the likelihood of a pullback toward support levels.
by Vanna-Cris
Banknifty Bearish Harmonic Pattern _Both side moves possibleHello everyone, yesterday there was pullback in banknifty around 800 points but pullback fail as volume not supported and the multiple resistance at 51000-51200 with bearish harmonic pattern banknifty fall again around 700 points from high. bearish trend can continue if banknifty breaks below 50200 another 1000 points fall can possible breaking above 51200 only upside posssible. and Non Directional range is 50000 to 51000.
NSE:BANKNIFTYShort
by finvestalgo
#Banknifty directions and levels for November 21stBank Nifty Current View: The structure is similar to the Nifty sentiment. If the market declines initially, we can expect a minimum of 78% (OIS) if it breaks the level of 50,316. Notably, if it reaches this level with gradual movement (MDZ), we can expect a minimum bounce back of 23% to 38%. On the other hand, if it reaches this level with a solid structure or consolidates around here, then the correction is likely to continue. This is our first variation. Alternate View: The alternate variation suggests that if the market pulls back initially, we can expect a range-bound market between the previous session's range. This means if it breaks 50,648, it will reach 50,867. After that, if it gets rejected there, it will close where it opened.
NSE:BANKNIFTY
by Manickamtraders
Gold --> Bear Market Heating Up? Resistance AheadOANDA:XAUUSD rising after a false breakout of 2547. Fundamentally, the situation is quite complicated as well as technically... The metal price is positively affected by the escalating Russia-Ukraine war, making gold more attractive to investors as a safe-haven asset. In addition, the appeal of gold is reinforced by geopolitical tensions, economic risks and a low interest rate environment. Fed officials are expected to speak this week, thereby providing more details on the US interest rate cut roadmap. Currently, according to traders' predictions, there is a 62% chance that the Fed will cut interest rates by 25 basis points in December... Theoretically, it is still unclear whether gold can maintain its bullish momentum as prices are approaching strong resistance and traders are cautious as they wait for new signals on the Fed's interest rate outlook. Technically, gold is in the range of 2643 - 2626. Since the opening of the session, the price has increased quite strongly, which increases the possibility of resistance to stop this increase. The situation is complicated by the mixed fundamental backdrop. A false break of 2647 and consolidation below this area will strengthen the selling pressure. But there is a possibility of a retest of 2686 (order block area) before the decline continues. The expected decline will reach the levels of 2547 - 2471 respectively. Rate, share your opinion and questions, let's discuss what's going on with.
OANDA:XAUUSDShort
by Bo-Samson
4
#Nifty directions and levels for November 21stGood Morning, Friends! 🌞 Here are the market directions and levels for November 21st. Market Overview: There are no significant changes in the global market sentiment. The Dow Jones is showing a moderately bearish trend, and our local market is also indicating a bearish sentiment. Today, the market may open neutral to slightly gap-down, as Gift Nifty is showing a negative 40-point movement. In the previous session, both Nifty and Bank Nifty experienced huge oscillations. Structurally, the market closed between minor swings, which makes it seem like a range-bound market. What about today? We are still in a minor downtrend. If the market opens with a gap-down, the same bearish direction may continue. On the other hand, if it takes a pullback initially, we might see some consolidation within the previous session's range. Let’s explain this further with charts. Both Nifty and Bank Nifty are showing similar structural sentiment. Nifty Current View: The current view suggests that if the market declines initially, we can expect a minimum of 23,275 (MDZ) if it breaks the level of 23,399. Notably, if it reaches this level with gradual movement (MDZ), we can expect a minimum bounce back of 23% to 38%. On the other hand, if it reaches this level with a solid structure or consolidates around here, then the correction is likely to continue. This is our first variation. Alternate View: The alternate variation suggests that if the market pulls back initially, we can expect a range-bound market between the previous session's range. This means if it breaks 23,585, it will reach 23,713. After that, if it gets rejected there, it will close where it opened.
NSE:NIFTY
by Manickamtraders
Bitcoin's Latest Strategy SignalsBy observing the chart, we can see that the price rose from 75750 to 81000 points, and then adjusted slightly. After that, the price rose strongly to the 87700 support level. The price then began to trade within the pennant pattern, then broke through the 87700 level, and then tried to rise further, but failed, and traded between the levels for a while. Then BTC rebounded from the buyer's area and rose to the resistance line of the pennant pattern, and then immediately turned around and pulled back to the buyer's area. Next, the price traded in this area for a while, and then continued to rise within the pennant pattern. Soon, the price reached the support line of the pattern and continued to rise near the line, and after a while BTC rebounded from the line to the resistance line. Not long ago, the price turned around and adjusted slightly, and then recovered in a short time. Currently, the price is trading near the pennant resistance line. Therefore, I think BTC can fall to the support line and then rebound above the resistance line, thus exiting the pennant pattern. In addition, I expect the price to continue to rise, so I set the target price at 98K points.
by t60pt60p
Aster DM Healthcare Ltd - Symmetrical Triangle Pattern AnalysisAster DM Healthcare Ltd - Symmetrical Triangle Pattern Analysis 🛠️ The stock is consolidating within a symmetrical triangle, signaling a potential breakout. With price compression nearing its apex, a decisive move is expected soon. Technical Insights 📈 Resistance: Upper trendline: ₹433.50 - ₹434.50. A breakout above this range could indicate bullish momentum, targeting the ₹445-₹460 zone. 📉 Support: Lower trendline: ₹428.00 - ₹429.00. A breakdown below this range might trigger bearish momentum toward ₹413-₹400. Key Observations: Current Price: ₹429.00. Volume Profile: Watch for a significant volume surge during the breakout/breakdown. Price is nearing the triangle's convergence point, with diminishing volatility signaling an imminent impulse move. Strategic Approach: 1️⃣ Bullish Case: Entry: Above ₹434.50 on a sustained breakout with volume. Targets: ₹445, ₹460 (key levels). Stop-Loss: Below ₹428.00 to protect against reversals. 2️⃣ Bearish Case: Entry: Below ₹428.00 on a confirmed breakdown. Targets: ₹413, then ₹400 if momentum continues. Stop-Loss: Above ₹434.50 to manage risks. Risk Management: Avoid premature entries; wait for confirmation beyond support/resistance levels. Symmetrical triangles can lead to fakeouts, so confirm moves with strong price action and volume. ⚡ Conclusion: Aster DM Healthcare is poised for a major move. Keep an eye on price levels and volume to act on the next big opportunity!
NSE:ASTERDM
by yashshekhawat1999
USDJPY: Near Resistance 156.70, Consolidation Awaits DirectionUSDJPY is currently trading around 154.62, approaching the key resistance level of 156.70 after recovering from strong support at 152.24. The EMA 34 and EMA 89 lines are near the current price, acting as dynamic resistance and hindering further upward momentum. The RSI indicator is hovering at a neutral level of 48, indicating a consolidating market with no clear trend. If the price fails to break through the resistance at 156.70, it is likely to pull back to the support levels at 153.70 or even 152.24. The primary driver of USDJPY's trend is the strengthening USD, supported by expectations that the Fed will maintain high interest rates, along with easing signals from the Bank of Japan (BoJ). However, any significant economic data from the US, particularly inflation figures or statements from the Fed, could strongly influence price action this week.
Short
by Vanna-Cris
Gold Rebounds: Focus on 2,546 Support & Russia-Ukraine TensionsGold prices rose on Monday (November 18) after six consecutive losing sessions as the rally in the USD paused and escalating uncertainty over the Russia-Ukraine conflict spurred safe-haven demand. Currently, gold is recovering after successfully testing strong support at $2,546, where the long-term uptrend intersects with potential buying zones. This positive signal reflects strong buying momentum, pushing prices back towards $2,620, near the EMA 34 and EMA 89, key dynamic resistances. If prices break above the $2,620 level, the next target could be the resistance zone at $2,791, where significant selling pressure awaits. With the Russia-Ukraine tensions showing no signs of de-escalating, gold prices could climb even higher in the future. Traders should closely monitor developments in this situation.
OANDA:XAUUSDLong
by Vanna-Cris
EURUSD Recovery: Challenging the 1.0946 Resistance EURUSD is currently in a mild recovery phase, trading around 1.0582 after hitting a recent low at 1.05140—a significant support zone. While the recovery is underway, the EMA 34 and EMA 89 above the current price act as dynamic resistance, limiting upward momentum. The nearest resistance at 1.0946 is a key target, but failure to break above this level may see EURUSD revisiting the support zone at 1.0514 or even dropping further. The USD remains strong due to expectations that the Fed will maintain high interest rates, while weak economic data from Europe continues to undermine the EUR's position. Traders should closely monitor economic reports from both the US and Europe this week, especially inflation data, as these will play a critical role in determining the pair's next direction.
by Vanna-Cris
EURUSD : Realization continues, risks increase!Dear traders, EURUSD is currently in a bearish "flag" phase this Friday morning in Europe, influenced by risk-off flows stemming from escalating geopolitical tensions between Russia and Ukraine and concerns over potential U.S. tariffs on the EU... Now, there is nothing stopping it from further distribution. Key news is on the horizon that traders should approach with caution. A Fed rate cut. And the question is no longer "when" but "how much" the Fed will cut amid persistently high inflation over the past few months. From a technical perspective, the focus is on resistance levels at 1.055 and 1.054, which is the (fib 0.618). A gradual retracement and retest will increase the chances of a breakout. Now, selling pressure on this currency pair is intensifying, prices are entering a risk zone, and buyers are becoming increasingly cautious. We are monitoring the next key downside targets at 1.047-1.044...
Short
by Bo-Samson
USDJPY Awaits a Breakout at 155.878 USDJPY is currently trading in a short-term uptrend but is being held back by a descending trendline and the resistance level at 155.878. After bouncing from the strong support at 153.350, the price is now fluctuating around EMA 34 (154.850) and EMA 89 (153.995), reflecting a tug-of-war between buyers and sellers. Rising U.S. bond yields and the Bank of Japan's dovish policies continue to support the USD, while the Japanese Yen remains under pressure. The RSI at a neutral level of 51.52 indicates unclear market momentum. If the price breaks above 155.878, the uptrend could strengthen with a target near 157.000. Traders should closely monitor key levels to make informed decisions.
Long
by Vanna-Cris