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Rsidivergence

Nifty pvt bank bullish candidateNifty pvt bank cmp 17975 Elliot wave study Daily time frame At the moment index is trading at pre covid all time high levels of index,, which are in range of 17950 to 18030. It strong demand zone and is being respected in past history so the index can be considered at support levels . Wave 1 :- wave 1 consist of 3494 points and 41.17% move from the bottom,, this is the first impulse wave of impulse phase. Wave 2 :- Wave 2 have retraced 0.786% of wave 1,as per theory it can retrace from 0.50 to 0.886% of wave 1 wave 3 :- wave 3 consist of 10629 point and 112.% upmove from the bottom of wave 2, it is longest and strongest impulse wave of the whole impulse phase,, point wise comparision of wave 3 with wave 1,, wave 3 have extended 3.14 time of wave 1 which is considered as pie number and is important number in geometry and fibo numbers,, percentage wise wave 3 have extended 2.618 time of wave 1,,as per theory it can extend from 1.618 to 3.618% of wave 1.. so all criteria of wave 3 matches the elliot wave theory. Wave 4 :- Wave 4 have retraced 0.382% of wave 3, as per theory it can retrace from 0.23 to 0.50% of wave 3 pre assumption of wave 5 :- wave 5 is last impulse wave of impulse phase and it can be euphoric in nature,, it should be smaller than wave 3 and can be equivalent to extended compared to wave 1. Now if we consider wave 5 as equivalent of wave 1 in terms of percentage it gives upmove of 6695 points,, which is almost 2 times of wave 1 which can be considered as extended 5 wave of wave 1 in terms of points and equivalent wave 5 to wave 1 in terms of percentage,, now same calculation if compared with wave 3 it is 0.618% of wave 3 in terms of points.. so most criteria matched for this calculation. Index is trading around support zone of previous life time high,, if index manage to reverse from this levels and wave 4 matures,, if wave 5 unfolds from current levels it may lead to levels of 22800-23000,, RSI is around support levels of trend line of symmetrical triangle formation indicate strength around this levels.. Good bullish formation as per elliot wave in this index,,,
NSE:NIFTYPVTBANKLong
by RUDRA007
1
Good News For Ethereum- Resistance Breakout & RSI DivergenceFollowing Chart is of ETHUSD which Clearly shows the breakout of the price from the Resistance Level. Wedge/ Trend line breakout could also be seen. Also we can see RSI Divergence, in this case, the price is making lower top lower bottom whereas the RSI is making Higher top Higher Bottom. This means that finally the bad days for Crypto are over and we are heading towards a strong uptrend, technically. Do follow for more trading setups like these Thanks, if you have any queries/suggestions related to above pattern, feel free to type below in the comment section.
BITSTAMP:ETHUSDLong
by Gajanan_Y
RSI Divergence in Cipla!!The price action/behavior in Cipla shows that the buyers are strong and have been pushing the price higher which should result in a breakout . There have been multiple retests on the resistance zone / the supply zone . However , RSI shows a clear divergence or in simple words , RSI is making lower highs . Hence it would not be advisable to take a position in Cipla at this moment . Only if RSI shows and up move with strong buyers , price gives a breakout with good volumes , then only one should go long.
NSE:CIPLA
by anusuabose92
FY21-22 Swing Trade Idea #129: Long on PERSISTENTThis is a public swing trade idea (other private ideas accessible through website) and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
NSE:PERSISTENTLong
by onerighttrade
Late night Technical analysis talk - DRREDDYSorry for delay due to Net issues ( Uploading it 7th time hahaha ) 👑 Terms used if you don't know : ✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins ✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows ✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges , and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts ✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position. ✣ Supply/ Demand: In the supply zone , the prices are higher than the bid price, and in the demand zone , they are lower. The bid price is what a trader is willing to pay for a stock 👑 Important levels - explained well 👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :) ⌛ Motivational and psychological area ⌛ ✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only. ✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow ✣Don't lose hope and keep grinding ✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily. ✣Focus on the process, you are here to make money not stupid decisions and lose it all ✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market. ✣Believe in yourself :) 🎓🎓 Some info about me :) ➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all. ➼I hope you will love my simple analysis style. ➼Feel free to suggest your view on this as learning is earning here :) ➼I take my trades on my Zerodha account :) ➼I don't take all the trades I post ➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
NSE:DRREDDYLong
by Averoy_Apoorv_Analysis
13