Consolidation Breakout on charts The stock has been consolidating for a while Breakout after closing from Box Target 1500s Stop Loss 1075 Buy above 1290 absolute conviction
A clear downside break of the 10-month-old rising support line teases the AUDUSD bears as China releases mixed inflation data from July. Even so, an ascending trend line from early November 2022, close to 0.6470, could join the nearly oversold RSI to challenge the Aussie bears. Following that, a 78.6% Fibonacci retracement of October 2022 to February 2023 upside,...
AUDUSD fades bounce off a three-week low while poking a two-month-old rising support line, now immediate resistance around 0.6730, on the Reserve Bank of Australia (RBA) Interest Rate Decision Day. Adding strength to the upside barrier is the 200-DMA hurdle surrounding the said 0.6730 level. Following that, a run-up towards the 50% Fibonacci retracement of...
USDJPY appears well-set to reverse the previous weekly gains as it reverses from a three-week-old descending resistance line surrounding 141.00. Also adding strength to the downside bias could be the pair’s break of a fortnight-old support line’s break, as well as bearish MACD signals. However, the below 50.0 levels of the RSI challenges the Yen pair as US Dollar...
2nd trade in the series Buying SKF find in hourly swing trade
Taking the 1st trade in the trade series experiment.
AUDUSD fades bounce off 200-EMA, reversing from a one-week-old falling resistance line, as Australian inflation and the Federal Reserve (Fed) Interest Rate Decision decorate the calendar. Given the downbeat oscillators, as well as the Aussie pair’s placement within a two-month-old bearish triangle, the quote stays on the seller’s radar. However, a clear downside...
AUDUSD remains on the front foot while printing the first daily gains in five after strong Australian employment data. The pair’s latest upside also justifies the upward-sloping RSI line, not oversold, as well as the bullish bias of the MACD signals. With this, the quote is likely to extend the north run toward May’s peak of around 0.6820 ahead of targeting the...
Powergrid is a portfolio stock with good dividend yield and strong fundamentals. The stock has given a breakout of cup and handle pattern with neckline of 250. The retest of the same is completed as well. Stock can give good returns with minimum target of 300. SL can be below 246 DCB. Idea is shared for educational purposes and should not be considered as a...
Gold price reverses the previous week’s retreat from an eight-week-old descending resistance line, grinding higher past the 100-bar Exponential Moving Average (EMA). However, the nearly overbought RSI (14) suggests another pullback from the aforementioned immediate resistance line, near $1,962 at the latest. With this, the XAUUSD is likely to break the immediate...
Indigo paints had a bumper listing during its IPO with 100% premium over issue price. However, since its listing, it has been in a downtrend and has corrected to an attractive valuation. The stock has already broken the downtrend and is now looking strong for a new upmove. The targets and SL are given in the chart. One can enter at CMP if his/her outlook is of a...
USDJPY dropped in the last two consecutive weeks but ended Friday on a positive note as it bounced off a convergence of the 100-DMA and the 200-DMA. Adding strength to the hopes of recovery is the oversold RSI and the pair’s closing beyond a seven-month-old horizontal support zone, around 137.90-138.20. That said, the 140.00 round figure appears immediate hurdle...
Hi, What is your view on this chart. I found the chart very interesting as the trading zone of the current cosolidation followed in the past also. Disclaimer: Content shared is for information and education purposes only and should not be treated as investment or trading advice. Please do your own analysis or take independent professional financial advice before...
With a clear U-turn from the 100-EMA, Gold price again hits the key support around $1,895 comprising the 200-EMA and an upward-sloping trend line from late November 2022. That said, bearish MACD signals and downbeat RSI join the market’s risk-off mood to offer extra incentives for the XAUUSD bears. With this, the Gold sellers are more likely to take out the $1,895...
AUDUSD remains on the back foot at the three-week low after posting the biggest weekly loss since August 2022 on Australia inflation day, breaking convergence of the 200-SMA and 50% Fibonacci retracement of its late May to early June run-up on downbeat Aussise Monthly CPI. Having breached the stated key support, the 61.8% and 78.6% Fibonacci retracements,...
Price Volume Analysis, AVWAP, Volume Profile. Chart pattern. Risk-reward scenarios.
LOOKS GOOD FOR LONG POSITION WITH A SL OF 1370 Reasons: - Wolfe Wave formation - Wave 5 Taking immense support at Golden ratio of 1.618 ( Retracement of Wave 4 ) - Exaggerated Divergence of RSI - ADX Reversing Downside from 44 - Risk to Reward Ratio is Fantastic Target would be 1483 and above it will lead to 1611 CHART & ANALYSIS Adarsh Kumar Dey
I analyse Lalpathlab on weekly and daily chart. Price, Volume, AVWAP, Volume Profile, other technical indicators are used. Possible targets and risk/reward is also discussed.