RECOVERY OF USD/ CHF : 13 WEEK LOW AT 0.08757USDCHF touched a 13 week low at 0.8757 during the Asian session on wednesday and recovered some of its intraday losses, trading near 0.8770. The mixed US data could have contributed to the weakening of USD. The current support level of usd/chf is 0.8757, if it is break 0.8757 then it will touch 0.8744 & 0.8730 in intraday with the stop loss of 26 pips.
Marketstructure
Amarraja to take long entryA very high probability that the stock will take support from the trend line. On a bullish candle, a long entry can be taken. All import levels have been marked on the charts. This is for your educational purpose only.
EICHERMOT appears to be displaying a robust bullish trend.EICHERMOT successfully broke free from a major downtrend, signaling a pivotal change in market sentiment. Subsequently, it proceeded to establish an encouraging uptrend pattern in the minor trend. Today, with a decisive breakout following a brief pullback, the stock has sent an unmistakably bullish signal that is difficult to ignore.
Market Architecture By 👑Royal Trend👑👑Royal Trend👑
In this video we try to understand the Market Architecture.
How market really work with number's
Difference between technical analysis and option trading
Technical analysis and options trading can go hand in hand. Many of the best practices for options trading come directly from technical analysis concepts. Technical analysis focuses on price. Fundamental analysis does not solely focus on price.
why we learn option chain?
Option chain is a chart that will give in-depth information related to all stock contracts available for Nifty stocks. The best thing about the option chain is that it provides valuable information about the current security value and how it will affect it in the long term.
What is the purpose of option chain?
It can be used in creating an option strategy at several strike prices. It can be used to analyse and draw noteworthy insights about the stock and its probable movements. It helps the traders in evaluating the liquidity and the depth of the option contract.
How important is option chain analysis?
The option chain analysis data provides a very comprehensive view for all the available options for any particular underlying asset. This helps in understanding and selecting the correct option for trading or investment purpose.
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High probability Ascending triangle can be formed. Hi banknifty trader. there is a high probability that banknifty can form ascending triangle pattern and continue its bullish trend. also, it is forming this bullish at its all-time high region.
so upside momentum can be good if breakout will happen.
Nifty's Bullish Breakout_Optimism ReignIf you take a look at the Nifty 1-hour candle chart, it seems to be forming a descending triangle pattern. This is interesting because the Nifty has found support around the 19250-19300 level multiple times. You see, when an asset or index bounces off a level repeatedly, it tends to become a strong support or resistance zone. In this case, 19250 appears to be shaping up as a robust support zone.
However, today, something exciting happened. Nifty made a remarkable move, rallying up by 0.94%, and it broke out of that descending triangle pattern. This breakout suggests that Nifty might be headed for higher levels, and we could witness some new records soon.
What's even more encouraging is that economic data is on our side, painting a positive picture for the market. In the past few sessions, Nifty might have been a bit sluggish, but the broader market, especially Midcap and SmallCaps stocks, has been performing well.
Adding to our optimism, today both Foreign Institutional Investors (FII) and Domestic Institutional Investors (DII) were net buyers. It's worth noting that FIIs were net sellers in August, so this change in trend bodes well for the market. With the festive season just around the corner, it's quite likely that we'll see more positive activity in the coming weeks.
All in all, it's safe to say that we're feeling pretty bullish right now. So, let's buckle up and enjoy the rally while actively participating in it. Exciting times ahead! 🚀📈
BTCUSD | D TF | ANALYSIS elliott wave.Time for a retracement? in this snapshot, btc completed 5th impulsive wave now its time for corrective wave. am expecting 25k.
Elliott Wave Theory: What It Is and How to Use It
What Is the Elliott Wave Theory?
The Elliott Wave Theory in technical analysis describes price movements in the financial market. Developed by Ralph Nelson Elliott, it observes recurring fractal wave patterns identified in stock price movements and consumer behaviour. Investors who profit from a market trend are described as riding a wave.
How Elliott Waves Work,
Some technical analysts profit from wave patterns in the stock market using the Elliott Wave Theory. The theory assumes that stock price movements can be predicted because they move in repeating up-and-down patterns called waves created by investor psychology or sentiment.
The theory is subjective and identifies two different types of waves: motive or impulse waves, and corrective waves. Wave analysis does not equate to a template to follow instructions. Wave analysis offers insights into trend dynamics and helps investors understand price movements.
Impulse and corrective waves are nested in a self-similar fractal to create larger patterns. For example, a one-year chart may be in the midst of a corrective wave, but a 30-day chart may show a developing impulse wave. A trader with this Elliott wave interpretation may have a long-term bearish outlook with a short-term bullish view.
Impulse Waves
Impulse waves consist of five sub-waves that make net movement in the same direction as the trend of the next-largest degree. This pattern is the most common motive wave and the easiest to spot in a market. It consists of five sub-waves, three of which are motive waves. Two are corrective waves.
Elliott Wave Theory
Image by Julie Bang © Investopedia 2020
Labelled as a 5-3-5-3-5 structure:
Wave 2 cannot retrace more than 100% of the first wave
The third wave can never be the shortest of waves 1, 3, and 5
Wave 4 can't go beyond the third wave at any time
If one rule is violated, the structure is not an impulse wave. The trader would need to re-label the suspected impulse wave.
Corrective Waves
Corrective waves, called diagonal waves, consist of three, or a combination of three sub-waves that make net movement in the direction opposite to the trend of the next-largest degree. Its goal is to move the market in the direction of the trend.
The corrective wave consists of 5 sub-waves.
The diagonal looks like either an expanding or contracting wedge.
The sub-waves of the diagonal may not have a count of five, depending on what type of diagonal is being observed.
Each sub-wave of the diagonal never fully retraces the previous sub-wave, and sub-wave 3 of the diagonal may not be the shortest wave.
Elliot Wave Theory vs. Other Indicators
Elliott recognized that the Fibonacci sequence denotes the number of waves in impulses and corrections. Wave relationships in price and time also commonly exhibit Fibonacci ratios, such as 38% and 62%. For example, a corrective wave may have a retrace of 38% of the preceding impulse.
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Elliott Wave Oscillator Chart
Elliott Wave Oscillator Chart.
Other analysts have developed indicators inspired by the Elliott Wave principle, including the Elliott Wave Oscillator Chart. The oscillator provides a computerized method of predicting future price direction based on the difference between a five-period and a 34-period moving average. Elliott Wave International’s artificial intelligence system, EWAVES, applies all Elliott wave rules and guidelines to data to generate automated Elliott wave analysis.
2
What Is the Elliott Wave Theory?
In technical analysis, the Elliott Wave theory looks at long-term trends in price patterns and how they correspond with investor psychology. These price patterns or ‘waves’ depend on rules developed by Ralph Nelson Elliott in the 1930s. They identify and predict wave patterns within stock markets and help predict future movement.
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How Do Elliott Waves Work?
There are different waves, or price formations, from which investors can glean insight. Impulse waves include an upward or downward trend that carries five sub-waves that may last hours or even decades. They possess three rules: the second wave cannot retrace more than 100% of the first wave; the third wave can never be the shortest of waves one, three, and five; wave four cannot ever surpass the third wave. There are also corrective waves, which fall in patterns of three.
How Do You Trade Using Elliott Wave Theory?
If a trader sees a stock moving on an upward trend on an impulse wave, they may go long on the stock until it completes its fifth wave. Anticipating a reversal, the trader may then go short on the stock. Underlying this trading theory is the idea that fractal patterns recur in financial markets. In mathematics, fractal patterns repeat themselves on an infinite scale.
The Bottom Line
The Elliott Wave Theory was developed by Ralph Nelson Elliott. It provides a technical analysis of price patterns related to changes in investor sentiment and psychology. The theory identifies impulse waves that establish a pattern and corrective waves that oppose the larger trend. It assumes that stock price movements can be predicted because they move in repeating up-and-down patterns.
Correction—May 5, 2023: This article has been amended to state that the third impulse wave can never be the shortest of waves one, three, and five.
NIfty50 Analysis for 17 August: Strong Bullstoday (16th August), market opened again at around 19890 level.
After the opening dip, Buyers managed to defend 19360 level and ultimately managed to push the market above 400 and then breaking last days High.
Few key points:
1. opened at same level at last trading session.
2. Made a Higher low.
3. Made HIgher High.
4. Higher Close.
which indicates relatively strong Bull side in the market.
Trade plan for tomorrow, 17th August:
case 1: If market opens in the range of yesterday (16th august), will remain cash.
case 2: if market opens above or breaks 482 and shows strength, will enter a long position: TP1: 560 TP2: 637, SL: 5 min close in yesterday's range.
might face hurdle around trendline. But given the strength, i reckon market will be able to break above.
Case 3: In case market opens or breaks below 19300, will short for immediate target of 19200.
Give this post a like, if you agree with this analysis.
Disclaimer: This is my trading plan and i am just sharing it here. I do not intend to post it here as a trading advice or suggestion. It is shared here only for the sole purpose of sharing and discussing with fellow traders. Do your own due diligence and trade responsibly.
WELSPUNIND | SWING TRADE | BULLISH MOMENTUMWELSPUNIND | SWING TRADE | BULLISH MOMENTUM
CONFIRMATION FACTORS
1) Pole and Flag formation
2) 20/200 EMA Crossover
3) Market structure breakout and good consolidation happening
Crude oilBuy crude oil 5755 to 5750 tgt 5850 sl 5710
Crude Oil Technical Report, 30/06/2023 : Enrich financial
30 Jun 10:12 Enrich Financial
Technical Outlook
Crude oil traded with bullish sentiments, as it ended with a 0.21% gain, where the upward movement has come post strong US economic data, and the recovery for the commodity looks underway, where we can expect a range of 5900-5693 in the upcoming sessions if 5939 levels are retested we may see recovery and as per the 1D chart, it is technically broken a "Descending Broadening Wedge", and indicated a sideways movement, and resistance is placed at 5854 and support at 5602, indicating that if support is broken, we can see further downside, up to the range of 5500 levels.
Research Report target
If able to sustain above 5780 buy for targets 5814-5851 while keeping an SL of 5721, sell if breaks below 5703 sell for targets 5635-5600, keeping an SL of 5739.
Crude oil Technical chart
As Reported By Enrich Financial
Provided by Market Pulse Technologies Pvt. Ltd.
Disclaimer:
The views expressed by the analyst in this document are of their own, and not that of Market Pulse Technologies Pvt. Ltd. (MPTPL) or any of it associates or subsidiaries. The information contained herein is from publicly available data and sources believed to be reliable. This document is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. Nothing in this document should be construed as investment or financial advice, or to be construed as a solicitation or recommendation to buy or sell the securities/ commodities referred to in this document. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities/commodities referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. MPTPL, its associate or subsidiaries and employees shall not be liable in any manner for the loss/damage that may arise to any person from any inadvertent error in the information contained in this report. MPTPL makes no representation or warranties, express or implied as to the accuracy or completeness of the information, provides no guarantees whatsoever and shall have no liability towards any person for losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein.