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Rising Wedge

RISING WEDGE BREAKDOWN - BEARISH SETUPStock has given a clear breakdown from a classical rising wedge pattern. Accumulation of sellers in the last three sessions can be clearly seen in the volumes. RSI<60 suggests that buyers' have now lost momentum and sellers could be dominant for few coming sessions. It may retest the above the trendline and then continue the downfall. So wait for the right price action before you enter into a trade. Discliamer: Take this view for educational purpose. Trade on your own risk. Happy trading. Happy investing!
NSE:ICICIPRULIShort
by rahuljaiswal1580
XAUUSD Weekly analysis, Jul 6-10Hi traders, Wish you for more profit in the coming week, Last week the Gold against dollar pair price went up and came down as predicted.. it touches the yearly high of 1790 and retraced 1758 - 1760 area twice in a week, I stick with the my Rising wedge analysis given last week, it can be a long term signal too .. may gold go down to 1700 area.. This week this pair expected to break the wedge and expected to touch 1747 and go upto retrace 1760 area if it is going the other way up,, it has to break strong resistance ..but i hope there is lesser chance to happen. Thank you all. Note - Weekly prediction done as per price action analysis, price movement subjected to fundamentals changes also
FX:XAUUSDShort
by Akfx369
NIFTY TREND SETUP FOR THE WEEK NIFTY TREND SETUP -from past few weeks i am explaining nifty is in a "bullish bias" -to understand please go through my nifty and banknifty posted charts -you will get an idea how we were able to maintain our bullish view -coming to the new post of nifty let see what is cooking up -our rising wedge pattern is confirmed (read previous post) -nifty is making a move to test "61.8% retracement level" -and also its 200-ema both now placed in the zone of 10420-10520 -!!yes!! again i am "bullish" this week -the reason is quite simple i don't know whether someone has noticed!! -that after the gap down on 11th march it is the first time!! -that nifty has mananged to "close above 10175" -!!yes!! nifty everytime gaped up and was sold into -this rally is different after 3 months nifty actually managed to close above the level of 10175 (please watch the "yellow" line closely on the daily chart) -this is a major reason i believe that market can test 10350-10520 beyond that we will need to dig deeper NIFTY TRADE SCENARIO -any dip towards 10160-10180 is a buying opportunity -intial target should be 10275-10320 -if breaks then we can re-enter aggressively previous post on nifty index
NSE:NIFTYLong
by manavtechresearch
4
NIFTY INDEX TREND SETUP NIFTY INDEX TREND SETUP -NIFTY WITNESS ONE OF THE WILDEST SWING THIS WEEK -THE CRUCIAL PART THAT I AM EXPLAINING EVERONE IS THAT 9950 WAS NOT BREACH ON A WEEKLY CHART AS WELL ON DAILY -THE SHORT COVERING RALLY IN THE INDEX PROVED TO BE VERY VITAL -THIS INDICATES THE STRENGTH IN BUY ON DIPS MARKET -20 AND 50 EMA WERE TESTED GAPS WERE CLOSED AND THE PRICES MOVED ON -WHAT IT CONFIRMED ON A DAILY CHART IS A "FALSE BREAKOUT DOWN" -200-EMA IS FALLING -INDEX IS STALLING -NIFTY CAN KEEP CRAWLING TOWARDS 10440(61.8%) ZONE NIFTY TRADE SCENARIO -WHENEVER THERE IS A FALSE BREAKOUT WE EXPECT FIRST THE OPPOSITE BOUND TO BE TESTED (10330) -"BULLISH MARABUZO" CANDLESTICK PATTERN VISIBLE -NIFTY HOLDS ON TO ITS SUPPORT OF 9950 -I KNOW SGX IS INDICATINGA NEGATIVE START BUT STILL NOT BROKENDOWN I EXPECT MARKET TO RECOVER ON MONDAY -CRUCIAL TO REGAIN 10030 WHICH IS ALSO ONE OF MY CRUCIAL SUPPORT LEVEL AS WELL AS 100-EMA ZONE -NEXT LEVELS TO BE TESTED 10130 10165 10220 10275 10330 -ON THE DOWNSIDE 9880 9830 9750 -WILL ALL ACT AS SUPPORT FOR THE MARKET "WHAT IS CONFIRMED IS A VISIBLE RISING WEDGE PATTERN FOR NOW" "INITALLY I THOUGHT IT MIGHT BE A BULLISH CHANNEL" (CHECK PREVIOUS CHARTS) "BUY ON DIPS" RECOMMENDED "MY VIEW IS CLEAR WE CAN BREAK OR TEST 10330"
NSE:NIFTYEducation
by manavtechresearch
21