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Nifty moving into premium array, might reject and continue downI'm new to ICT concepts and trying to understand the market using that. Now here, NIFTY is moving right into a daily premium array formed by the gap on 17th Jan 2024. If NIFTY rejects of this premium array in the coming days we might fall and target the daily DOL at 21137.20, breakdown of which will indicate the pullback on the weekly chart. However, if it blows through the premium array because of tomorrow's budget news, we might see a pullback after breaking the highs of 16th Jan 2024. Weekly and daily are giving bearish arguments while on the 1h chart, with the break of the intermediate swing high of 23rd Jan 2024 is signaling bullishness in the short term. If the market opens and moves lower into the hourly discount arrays (FVGs), we might see a 200/300 point move up from 21500/21600 - 21800/21900 before falling back.
NSE:NIFTY
by Ripul012
3
AUD/USD Sell Trade Based on Technical Analysis-Forex Pip TargetsDescription: Embark on a lucrative trading journey with a compelling Forex opportunity that revolves around an AUD/USD sell trade, meticulously analyzed through advanced technical indicators. As the global financial markets continue to evolve, strategic traders are eyeing this potential profit-making scenario with great anticipation. Technical Analysis Highlights: Bearish Trend Confirmation: Comprehensive technical analysis reveals a clear bearish trend in the AUD/USD currency pair. Multiple indicators, including moving averages, RSI (Relative Strength Index), and MACD (Moving Average Convergence Divergence), align to signal a downward trajectory, providing a solid foundation for a sell trade. Key Resistance Levels: Critical resistance levels have been identified through careful analysis of historical price action. These levels act as formidable barriers, further validating the potential for a downward movement in the AUD/USD pair. Chart Patterns: Recognizing chart patterns is crucial in predicting market movements. The presence of bearish chart patterns, such as descending triangles or head and shoulders formations, adds weight to the sell proposition, enhancing the probability of a successful trade. Forex Pip Target Projection: In this sell trade opportunity, traders are encouraged to set a realistic pip target to maximize profits while managing risk effectively. The Forex Pip Target for this AUD/USD sell trade is conservatively projected at pips, offering a balanced risk-reward ratio. Risk Management Strategy: Implementing a robust risk management strategy is paramount in navigating the uncertainties of the forex market. Traders are advised to set stop-loss orders strategically, protecting their capital from unexpected market fluctuations. Additionally, monitoring the trade closely and adjusting stop-loss levels as the market progresses is essential for optimal risk management. Conclusion: Seize the moment and capitalize on this carefully analyzed Forex trade opportunity in the AUD/USD pair. The sell trade, backed by comprehensive technical analysis, presents a favorable risk-reward profile, making it an attractive prospect for traders seeking potential profits. Stay informed, stay strategic, and embark on this trading endeavor with confidence. (Note: This description is a generic example and should not be considered as financial advice. Always conduct thorough research and consider consulting with a financial professional before making trading decisions.)
Short
by forexpiptarget