US Dollar Index - are we ready for new all time high ?US Dollar index has recently completed his fall of wave 4 inside the bigger degree wave 3, and now possibly wave 5 has been started of bigger degree wave 3, Inside 5 it has completed wave 1 and wave 2 of 5, and possibly started to unfold smaller degree wave 1 of 3 of 5, now should retrace as wave 2 of 3 of 5, it would be a buying opportunity with invalidation level of 111.9040, One can go long in dip of wave 2, or can go long on breakout above wave 1's high, in both scenarios stop loss could be same as invalidation level 111.9040, which is nothing but low of wave 1, because as per waves principle wave 2 will never retraces 100% of wave 1.In 1 hour time frame RK's Mass psychological cloud is suggesting to go long only, Because it's above cloud, so don't go short.
possible wave counts on 1 hourly chart
possible wave counts on 4 hourly chart
possible wave counts on Daily chart
RK's Mass Psychological cloud in 4 hour
RK's Mass Psychological cloud in 1 hour
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
J-USD
💡Don't miss the great buy opportunity in CAKEUSD @PancakeSwapTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (4.606).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CAKEUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 65.
Take Profits:
TP1= @ 4.822
TP2= @ 5.076
TP3= @ 5.549
TP4= @ 6.235
TP5= @ 7.138
SL= Break below S2
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💡Don't miss the great buy opportunity in QNTUSD @quant_networkTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (74.0).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. QNTUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 91.1
TP2= @ 107.9
TP3= @ 127.9
TP4= @ 154.5
TP5= @ 174.3
SL= Break below S2
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NIFTY Pre Market Analysis 17/10/2022 E3Good Morning everyone,
Keeping SGX Nifty in mind (17070 levels) Lets say Nifty will have a gap down of approx. 100 points
-->Nifty will try to open @ 17060-70 levels
-->We will be almost opening near support zone.
--> Unless it breakdown 17000 level on stays there for min 15 mins there shouldn't be any shorting .
-->After opening,
--> If market shows bullishness like 5 Min range breakout/15 min narrow range breakout then we can go long with Stop losses below the range.
-->Targets would be as mentioned on chart.
-->After opening,
--> If market goes to test 17000 level (good demand zone) ,Here wait with patience if market shows bullishness(forming bullish candles or
breaking previous highs on 5m TF) then we can go long with SL placed below 16950 and the Targets would be same as mentioned on the
chart.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
If you think video analysis will be good for better understanding & If you want me to do video analysis pls give a boost. If I can get 2000 boosts overall on my profile I will start doing video analysis. Need motivation very badly. Expecting as low as 10 follows for this work 🙏🙏🙏.
NIFTY PRE MARKET ANALYSIS 14/10/2022 E2Good Morning Everyone,
-->If we observe price action yesterday, in the second half Nifty started showing bullishness. Price has failed to break previous low and started going up till dynamic trend line.
-->So everything together formed big double bottom.
-->After seeing SGX Nifty yesterday at 16800 I thought today will be completely different day. But SGX Nifty turned around and went all the up to 17280 -17300 levels.
-->After breaking the trendline now price will try to shift the zone first.
--> Will the gap up sustain?
-->If we measure the distance from yesterdays closing and to todays opening (say 17280 -17300) It will be more than 1% increase.
-->Things to keep in mind today.
--> 5 Min breakout or 15 min Breakout should work today.
If price breaks 5 min candle or 15 min narrow range breakout we can enter the trade in the price direction.
--.If the price comes down after opening to neck line then look for buying opportunities.
If price start going up
Resistance 1-17350
Resistance 2-17425
If Price start coming down
Support 1-17140 - 17170
Support 2-17070
-->When the market is live observe the price action whether it is creating higher highs and higher lows or lower highs and lower lows . You will get all the answers.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
If you think video analysis will be good for better understanding & If you want me to do video analysis pls give a boost. If I can get 2000 boosts overall on my profile I will start doing video analysis. Need motivation very badly.
Nifty Expiry Day Pre Market Episode 1Good Morning Everyone,
If we observe the chart in 30 min time frame we can see a head&shoulder pattern followed by a beautiful breakdown and an excellent retest to😁.
Retest is in the form of one of the triangular patterns.
-->Look at the big red breakdown candles. So most people would have shorted CE's or bought PE's.
-->If the price breakout of the pattern to the upside it will just go into a major supply zone . If any rejection from there it will move the market down.
-->So don't be over excited about break out please look for levels where bulls/bears might get trapped and play accordingly otherwise we will get trapped.
-->17035 levels is last swing low in smaller time frame ,breaking this level will make bulls to exit their longs.
-->From my Side just want to give you two levels 17210-15 & 17035-40 When the price is near these two lines plan your trade.
-->If the price is above the line BUY if the price is below the line SELL
-->Don't curse me for giving all the directions its just that we should respect every possibility before market opening at least.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
If you think video analysis will be good for better understanding & If you want me to do video analysis pls give a boost. If I can get 2000 boosts overall on my profile I will start doing video analysis. Need motivation very badly.
Nifty Expiry Day Pre Market 13/10/2022 Episode 1Good Morning Everyone,
If we observe the chart in 30 min time frame we can see a head&shoulder pattern followed by a beautiful breakdown and an excellent retest to😁.
Retest is in the form of one of the triangular patterns.
-->Look at the big red breakdown candles. So most people would have shorted CE's or bought PE's.
-->If the price breakout of the pattern to the upside it will just go into a major supply zone. If any rejection from there it will move the market down.
-->So don't be over excited about break out please look for levels where bulls/bears might get trapped and play accordingly otherwise we will get trapped.
-->17035 levels is last swing low in smaller time frame ,breaking this level will make bulls to exit their longs.
-->From my Side just want to give you two levels 17210-15 & 17035-40 When the price is near these two lines plan your trade.
-->If the price is above the line BUY if the price is below the line SELL
-->Don't curse me for giving all the directions its just that we should respect every possibility before market opening at least.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
If you think video analysis will be good for better understanding & If you want me to do video analysis pls give a boost. If I can get 2000 boosts overall on my profile I will start doing video analysis. Need motivation very badly.
Selling opportunity in Bank NiftyPlanned this trade in 5 min TF.
Can plan this trade with a Small SL
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
If you want me to video analysis pls give a boost. If I can get 2000 boosts overall on my profile I will start doing video analysis.
Need motivation very badly
💡Don't miss the great buy opportunity in TRXUSD @justinsuntronTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.06325).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. TRXUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 0.06500
TP2= @ 0.06650
TP3= @ 0.06835
TP4= @ 0.07143
TP5= @ 0.07348
SL= Break below S2
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💡 GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 1615.11, beginning of uptrend is expected.
We make sure when the resistance at 1807.13 breaks.
If the support at 1615.11 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the trough at 1680.82 on 2022-07-21 and the trough at 1614.79 on 2022-09-28, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
A peak is formed in daily chart at 1730.00 on 10/04/2022, so more losses to support(s) 1681.71, 1653.53, 1637.49 and minimum to Major Support (1615.11) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 50.
Take Profits:
1681.71
1707.88
1727.70
1765.00
1807.13
1832.23
1878.75
1926.82
1959.30
2000.00
2074.89
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How to get a 4:1 Risk reward ratio trade in Doller index (DXY)Previously, DXY encountered a fail downside attempt.
Upon reversing, I entered the trade when RMO indicator (RMO by Lazybear) turned green
Stop loss : - Low of the Bar - (Range of the bar)
The index was initially supported by Kijun Sen but later it gave in. Lower Time frame DMI was also choppy. But, I stayed in trade as it didnot hit the SL
I took out the profit at levels mentioned in the chart.
The trade trade was carried with SL below EMA 20 and H2 DMI support.
The trade closed when price broke EMA20 .
Profits were taken at 1.2, 2.4 and 4.4 RR.
My initial target was 2:1 RR. But went very good
📚Learn More💰Earn More - Inverse Head and Shoulders in UNIUSD📚 LEARN MORE
💰 EARN MORE
Inverse Head and Shoulders Definition:
A head and shoulders pattern is also a trend reversal formation.
It is formed by a Valley (left shoulder), followed by a Lower Valley (head), and then another Higher Valley (right shoulder).
A “Neckline” is drawn by connecting the highest points of the two Peaks. Neckline resistance does not need to be strictly horizontal.
This illustrates that the downward trend is coming to an end.
When a Head and Shoulders formation is seen in a downtrend, it signifies a major reversal.
The pattern is confirmed once the price breaches the neckline resistance.
In this example, we can easily see the head and shoulders pattern.
How to Trade the Head and Shoulders Pattern:
ENTRY:
we put an entry order above the neckline.
TARGET:
We can also calculate a target by measuring the lowest point of the head to the neckline.
This distance is approximately how far the price will move after it breaks the neckline.
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💡Don't miss the great buy opportunity in EGLDUSD @ElrondNetworkTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (51.34).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EGLDUSDT is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 72.
Take Profits:
TP1= @ 56.83
TP2= @ 59.33
TP3= @ 62.51
TP4= @ 66.09
TP5= @ 69.42
SL= Break below S2
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MONTHLY STRADDLE IN NIFTY FOR OCTOBER Hi there,
Nifty Closing today 29/09/2022 : 16818 spot
Since last 3 weeks if we observe Nifty movement there is lot of selling pressure.
From the recent high of 18096 levels Nifty has declined almost 7.5%.
In the chart if you observe I have drawn a primary wave .It looks like we are in the wave 2 of that Elliott wave.
wave 2 will be mostly 3-3-3 or 5-3-5 corrective wave.
In this WXY corrective wave W is 0.318 Fib retracement of wave 1.So there is higher probability that we will find some support in this area.
X point is 0.618 Fib retracement of wave W
Considering the recent aggressive selling those who missed the bus will short the market again or take fresh positions when the retracement wave happens.
SO WHY MONTHLY STRADDLE?
There will be 4 weekly candles in the October series.
So even this weeks candle engulfs the latest red candle by oct 6 expiry or after that expiry market will be facing resistance at X area.
If people start shorting the market fresh then high chance that market will go to Y area to complete the correction wave .
In this process mostly after 3 weeks we can see the market in these levels again with most of the price decay.
What if Nifty breaks W area this week without taking support there ?
Then the retracement is inevitable in coming weeks and 2 or 3rd week again nifty will be in the anticipated area.
Straddle breakeven should be above X and near Y
16750 STRADDLE will do the work.
By calculating the percentage return one can safely exit the straddle there.
Nifty monthly straddle has almost 30% ROI.
Even 10% in 15 days is a better deal.
Avoid If you don't know about straddle management
I hope this analysis will help you.
If you agree with my analysis you can comment on this post by yes or give a boost
Thank you. And happy trading.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
💡Don't miss the great buy opportunity in HNTUSD @heliumTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (3.91).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. HNTUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 55.
Take Profits:
TP1= @ 5.34
TP2= @ 6.00
TP3= @ 6.88
TP4= @ 7.68
TP5= @ 8.29
SL= Break below S2
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💡Don't miss the great buy opportunity in ADAUSD @CardanoTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.469).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ADAUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 56.
Take Profits:
TP1= @ 0.487
TP2= @ 0.504
TP3= @ 0.522
TP4= @ 0.545
TP5= @ 0.583
SL= Break below S2
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💡Don't miss the great buy opportunity in EOSUSD @EosNFoundationTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.418).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EOSUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 57.
Take Profits:
TP1= @ 1.574
TP2= @ 1.660
TP3= @ 1.837
TP4= @ 1.947
TP5= @ 2.041
SL= Break below S2
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💡Don't miss the great buy opportunity in ATOMUSD @cosmosTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (14.107).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ATOMUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 48.
Take Profits:
TP1= @ 15.219
TP2= @ 16.033
TP3= @ 17.184
TP4= @ 18.921
TP5= @ 20.338
SL= Break below S2
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💡Don't miss the great buy opportunity in RVNUSD @RavencoinTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.06040).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. RVNUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 54.
Take Profits:
TP1= @ 0.06816
TP2= @ 0.07382
TP3= @ 0.08097
TP4= @ 0.08833
TP5= @ 0.09613
SL= Break below S2
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