ICICIBANK Wedge breakdown on weekly chartICICIBANK has exhibited breakdown from rising wedge on weekly chart. Bulls got rejected this week, increasing the chances of breakdown.
Wedge breakdown price target zone: 843.
Rising Wedge
Approach towards AUDUSD Short.Hello Traders!
1. We see an Elliotical rising wedge completed.
2. A clear impulse down . We can expect at least one more impulsive wave even if it happens to be a zigzag correction and not an impulse down.
3. A retracement of 61.8%.
4. The invalidation level and target levels have been marked on the chart .
5. This is not a very long term trade . Though, it is not expected for AUDUSD market to touch the invalidation level even after our trade is complete, we will still not go short further than Target 2 and wait for re-entry.
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
Idea for shorting Nifty 18-1-2023There are some reasons for shorting Nifty,
Reasons :-
23.6% Fibonacci rejection level,
Rising Wedge,
Multiple time tested support zone,
Rejection zone,
There is a High Probability of breaking support.
Elliotical Approach to US30 Short.Hello Traders!
1. The US30 market is on the verge of completing its 2nd wave of Wave C of the complex correction as originally published in a prior idea (link attached).
2. We see an ending diagonal forming in the 1hr tf at the moment.
3. Also, wave 4 often divides an impulse into harmonic ratios. There can be that possibility with the division of 61.8% and 38.2% (total 100%). We take this possibility into picture because we also have the retracement level of 78.6% of wave 1 at almost the same level.
4. What is an invalidation level ? It is the level at which are analysis will have been wronged. So, in this case, if US30 market goes above 34950, our analysis will be wronged and we will have to look for a new picture. That's how accurate Elliot Wave Theory is!
5. Clearer targets will be available when we have a clear impulse down.
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
Reliance Short Trade Setup!Rising Wedge Breakdown Negative For Long Term And Short Term, RSI Also Weak. Sell Positional With Stop ~ 2580, For Target ~ 2350. Expected Time Jan Expiry.
ETH analysis for short termETH has given a breakout of a rising wedge, Lets wait for a rejection from the supply zone and can look for a downside of up to 1040$ for the short term and 1110 for trading
If this analysis helped you then do follow and like.
Relience Short term Swing trade with rising wedge pattern...here is the chart which is explaining us the pattern named rising wedge and it already had given us a good breakout with some good volume and also retested it's trendline in lower time frames.so here we can go short if it gives us a move towards downside......
Rising wedge pattern in ciplaRising wedge pattern formed in Cipla. We can expect a good move below the trendline/ above the trendline.
Asian Paints: Is it Losing it's shine?
Diwali season is considered one of the best season to get your house painted. With festive season gone behind us, is Asian Paints losing it's shine ?
Let us look at what chart has to tell us...
We are looking at daily charts of Asian Paints
The stock is seeing a lot of selling since it made a high of 3582 on September 28
- the stock is trading below it's 21 day, 50 day and 252 day EMA
These are not the signs that a strong bullish stock will show...
Going forward 3112 -3260 may potentially act as strong resistance zone
Support at 2830 / 2660
Important levels have been discussed. Trust it would help you plan your trade accordingly
Take care & safe trading....!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
BATAINDIA Rising Wedge Pattern BreakdownIn today's session, BATAINDIA gives breakdown of Rising Wedge pattern at 1795 level. After this breakdown expected downside target 1775 to 1730+ level in next few trading session according to chart pattern. Can short BATAINDIA below 1795 with stop loss of 1820 for this target.
Rising Wedge + Exhaustion GapAfter A long Trend In One direction the markets always tend to stall, looking to play in the opposite direction can be a good trade in such cases
DJI Seems Weak! S1-30520 & S2-29589 may act as supports.DJI's significant "Strong Weekly Closing" confirmed breakdown. Besides this, extreme volatility spurt in VIX too signaling the weakness. Although i am a learner. But this is somewhat remarkable. So sharing this view!
Thanks
BULLISH on WELCORPNSE:WELCORP
The prices has given the breakout from the Rising wedge pattern. The other information is on the charts.
Apollo tyres looking good Apollo tyres stock is on their important level also price formed a rising wedge pattern
SHORT AU BANK for target of probable 400Couple of things seen on Charts. Rising Wedge pattern on weekly and monthly charts. Also a failed breakout on daily charts.
Bearish divergence seen on weekly charts. Indicating sell at higher level. Be careful with this stock. Also same is seen with other Ultratech.
Shorting is risky option so wait for a solid confirmation to enter the stock is not resistant to interest rates hikes.
If rising wedge is followed then target of 400 can be seen. trade with strict Stop loss on weekly closing basis. Or just stay away.
Rising wedge pattern in TORRENTPHARMTORRENTPHARM Looking weak after breaking down the rising wedge pattern and the level of 1500. Here are some important levels we can expect.
Rising wedge pattern in NIFTY 50The price formed a raising veg pattern and gave a fake breakout. Here are some important levels. I am Bearish in Nifty 50, but nowadays the market does not behave as usual, so we cannot say anything in the closed market.
Rising wedge pattern in BANKNIFTYLooking at the global market, it seems that tomorrow the market will open gap down. If the market opens flat then you can trade by using these levels
HSCL { rising wedge pattern }
rising wedge pattern downtrend continuous pattern
waiting for confirmation candle
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“Disclosure : I am not Sebi-registered.” This channel is for only educational purpose. Any profit/loss, I am not responsible. Before taking any trade on our calls please consult your financial advisors. Thanks
rising wedge patternwatch out for breakout or breakdown
stock is consolidating in two rising trend lines
BankNifty - Ending Diagonal in 39600-39800 (Sell)Rising wedges or Ending Diagonal ends the ongoing trend. This is not a call. Trade on your own risk please. Thank you
