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UPL: Supply turned demandUPL(United Phosphorus Ltd.) has been declining over the past few sessions & has recently entered a supply turned demand area on weekly timeframe Earlier in 2021, 650 was a key resistance and later on we saw a momentum filled breakout with high volumes after which the stock has been consolidating since then. For now 630 seems to be a good accumulation level as it has been tested as a support many time during this accumulation phase and below which we have higher chances of seeing further downside so it is a crucial level to watch for! For value investors after such a long accumulation phases the breakout of the pennant can be a better opportunity as risk is high as per now. On the fundamental side, the company has good amount of cashflows and is fairly priced at price to book ratio of 1.6 times SETUP: Entry near 630 keeping a strict stop loss near 595 & target up to 740 is a decent risk to reward setup. Kindly do your own research. Thanks a lot for reading!
NSE:UPLLong
by UnknownUnicorn21160479
8
A Set & Forget EUR/USD Trade with the Trend: 24th of May 2023The EUR/USD has been fairly bearish over the last 3 weeks as evidenced by the consistent break of structures to the bearish side. With various fundamental factors against the Euro that supported the bearish price action such as the uncertainty behind further interest rate increases by the FED and the Debt Ceiling, this trade was able to generate returns on a 1:7 Risk to reward ratio and was executed during the London Market Hours $FX: EURUSD Technical Factors: 1)Bearish Supply Area identified from 1.0807 to 1.0808 2)Stop Loss of 6.8 pips and entry set at 1.0806 3)Single Target Price level set at 1.07516 was the previous structure's low 4)Major Level Break of Structure of 1.07675 that vindicated the Supply area 5)Liquidity pool below Supply Area of 1.07950 taken out by the retracement Key Macro Factors: 1)Uncertainty for the EURO regarding the FED's future interest rate decisions 2)The lack of resolution as on the 23rd of May regarding the debt ceiling
Short
by shreyassanand
1
btc the daily horrible analysis lower prices look very real hi guys just a quick overlook on the daily btc chart from ath horrible sight to see three bear flags one after the other inside of a falling wedge since atheach time we broke previous flags we had near enough the same drop of around 45% we have broke out of our latest flag are we going to see another 45% drop in price to the 14k mark its possible given the conditions we are in or even are we going to see a double bottom form at 17k then bounce do i think the bottom is in i dunno it looks unlikley whilst weve been in our recent bear flag we have had a msb creating an order block just below bear flag we are in that ob now and testing the .38 trend fib from recent drop from previous flag 19k is critical for us i think over the next week im hoping we can bounce if we do bounce id think we will make are way back to the top resistance level of bear flag not all at once also an inverse elliot wave predicts this move too hopefully bulls come back and sort the job out or are we just clutching at straws thanks guys scopes
by scoperfi