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Parallel Channel

Trade Analysis : Intraday USDJPY BUYTrade Analysis : Intraday USDJPY BUY Channel analysis on USDJPY Trend Identification: Intraday Uptrend in USDJPY. Support/Resistance Levels: Identify key levels on the chart for potential entry and exit points. Price Behavior: Bullish with market structure. Targets: T1 = 135.500, T2 - 137.750. Risk Management: Set appropriate stop-loss levels to manage risk and protect against adverse price movements. Confirmation Indicators: Support/Resistance Levels, Higher High, Higher Lows. Conclusion: Based on the chart analysis of , a potential trading opportunity has been identified. Combine this analysis with thorough research and risk management strategies to make well-informed trading decisions. Happy trading! (Note: Trading is subject to market risk. This is analysis not an trade idea for trade.)
Long
by JagadishSinghR
Ashokley Numerous Bearish signs!!!!Chart Patterns look good for a short trade REASONS 1. In Weekly timeframe, Ashokleyland broke out of the Ascending channel on sep 2022 & Right now it formed a Bearish Pennant pattern and Gave breakdown for that too!!!(SHOWN BELOW) 2. In daily time frame, it is moving alike Inverted cup& Handle pattern(shown below) 3. In 2hr timeframe, it is trading inside a DESCENDING CHANNEL and also there is Bearish pole pennant pattern seen. 4. There is an UNFILLED GAP ZONE (127- 125 RANGE)(Gaps often gets filled) 5. Target(dashed bright green lines) & Sl(dashed red line ) levels mentioned @ chart 6. Gap zone(green rectangle ) can acts as good support!! Just be fixed with the SL level. Let's wait and watch how it moves!!! NOTE - Just sharing my view....not a tip nor advice!!!!
NSE:ASHOKLEYShort
by mmjimm
Has Gold (XAUUUSD) Topped out? Gold Price May FallOn Friday, 5 May 2023, Gold price got rejected from the All-time high levels of 2050-2070. The drop resulted in formation of a DAILY BEARISH ENGULFING CANDLESTICK PATTERN as well as an EVENING STAR CANDLESTICK PATTERN at the ATH resistance levels, which shows sellers are active at this level. Checking out previous price action, the GOLD Price is trading in a rising channel making HIGHER HIGHS & HIGHER LOWS which signifies the uptrend. However, checking the RSI indicator which shows the momentum in the uptrend, RSI is making LOWER HIGHS. This results in BEARISH DIVERGENCE! A Bearish Divergence is a sign of loss of strength in uptrend which means bulls are getting weak and may signal profit booking & trend reversal. But this does not means to get Bearish on GOLD as of now. We need further confirmations for that. If Daily candle closes below the rising channel as well as 1968, price may drop till 1940. Area between 1915-1940 is the must hold level for BULLS. If price closes below 1915 we can then expect beginning of downtrend in GOLD BUT, since price is still in uptrend and we must follow the trend untill it ends. If daily closes above 1970, price may continue to go high. CONCLUSION 1. Price is still in uptrend. 2. If daily closes below 1968, price may drop till 1940 3. Area between 1915-1940 is a must hold levels for bullis. If price closes below 1915, a new downtrend may begin. Let me know in the comments section if you want me to analyse any other financial instrument. WARNING:- ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
OANDA:XAUUSDShort
by rohitkukreja
UBL Brewing down to its Major Support ??!!!Chart patterns look apt for a short trade in UBL REASONS 1. In Monthly time frame, UBL has been trading inside an Ascending channel pattern taking support and resistance at perfect levels till now. (shown below) 2. Right now, it is under its down swing move inside the Ascending channel pattern 3. In Daily timeframe , Bearish Flag pole pattern developing and due for BREAKDOWN!!! (shown below) 4. In 4 hr time frame, it is looking good to enter the trade ( STRUGGLING TO MAKE HIGHER HIGH) 5. Entry can also be after a 2hr breakdown out of the flag pattern(pink line) 6. Target(bright green)& strict SL(bright red) levels mentioned as Horizontal dashed lines Let's wait & watch how it moves!!!! NOTE - Just sharing my view....not a tip nor advice!!! Regards, mmjimm ;-)
NSE:UBLShort
by mmjimm