OANDA:XAUUSD Gold price (XAU/USD) remains at intraday lows as it wins a two-day bullish streak while justifying a strong US Dollar and China concerns.
According to our Technical Confluence indicator, Gold price retreats from the top of the $1950 and $1970 trading range as market participants prepare for the first data/event scheduled for the week. This.
Here we had shared possible Elliott wave counts on chart of USDINR, which is clearly showing that on bigger scale we are in 5th wave of some higher degree, in which we had finished wave (1)-(2)-(3) and currently we are in either in wave (4) or in wave 2 of wave (5).
Also both scenarios are discussed in this video post, you can go through this video...
lets wait and react to the the market price currently its at the top near the level 105 and in daily it shows some rejection candles if it gives any entry near the yellow zone i could probably enter in a trade. look into monday open and will goooo.
educational purpose only not financial advise.
Analysis on 12th December 2022
>Wave Count - Possibly Beginning of Correction Wave C on bigger cycle.
>Strength - Between the both the tops shown in chart there is a Berish Continuous Divergence.
USDINR possible and aligned Elliott wave structure of multi time frames from monthly to hourly.
4 Hourly chart
1 Hourly chart
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Breaking 18250 on nifty dec future will go up to 18000. This target i calculated with the line between trendline of the pattern and head of the pattern. keep sl 18500
trade with care. always use sl. good luck all.
Key highlights: 💡⚡
📈On 1D Time Frame Stock Showing Breakdown of Rising wedge Pattern .
📈 Strong bearish Candlestick Form on this timeframe.
📈It can give movement up to the Breakdown target of below 378-.
📈Can Go Long in this stock by placing a stop loss above 445+.
📈 breakdown this can give risk:reward upto 1:4+
INDIAN OVERSEAS BANK --WEEKLY CHART --TRENDLINE BREAKOUT
1. Trendline breakout seen on weekly chart above 20 level
2. Double bottom formation seen at 15.50 level from where stock at uptrend following trendline .
3. RSI seen above WMA and above 60 level at bullish zone
4. stock above 50,100,200 SMA
5. one can inituate Long position at breakout level 21-23...
HDFCAMC has formed a pennant pattern on a daily timeframe which is being backed by the support zone.
Reasons to enter -
1. Accumulating for the last 4 trading sessions.
2. Testing the trendline 3rd time.
3. Overall Market structure is bullish
Banknifty analysis chart.
nifty and banknifty both are moving in a rising channel and it is near its channel resistance line
it may face resistance and fall down from current level.
on the bullish side nifty looks more strong than banknifty
All essential levels are marked on the chart
Always use stop-loss to avoid big...