CUB BullishThe price is at channel support and retesting the down channel breakout levels.Setting up a potential bullish move.
TARGET 1-180
If Resistance at 180 is broken big move is expected.
This is just an my analysis.I am still learning chart patterns.Pls feel free to suggest your ideas if I am wrong.
Search in ideas for "Chart Patterns"
Price Action Educational VideoFocusing on **Price Action in the Stock Market** for your channel, **"The Golden Farms of Equity,"** is a great idea. Price action is a popular and essential topic for traders and investors. Here's how you can create engaging video content around this theme:
### 1. **Introduction to Price Action**
- **What is Price Action?**: Explain the basics of price action, why it's important, and how traders use it to make decisions.
- **Price Action vs. Indicators**: Compare price action trading with indicator-based strategies, highlighting the pros and cons of each approach.
### 2. **Chart Patterns and Analysis**
- **Candlestick Patterns**: Teach viewers common candlestick patterns like Doji, Hammer, Engulfing, and how to interpret them.
- **Chart Patterns**: Explain patterns like Head and Shoulders, Double Tops and Bottoms, Triangles, etc., and their significance in predicting market movements.
- **Support and Resistance**: Show how to identify key support and resistance levels using price action.
### 3. **Advanced Price Action Techniques**
- **Price Action Strategies**: Share advanced strategies such as breakouts, pullbacks, and reversals, and how to trade them effectively.
- **Multiple Timeframe Analysis**: Demonstrate how analyzing different timeframes can provide a clearer picture of market trends.
- **Volume and Price Action**: Discuss the relationship between volume and price action to confirm trends and reversals.
### 4. **Practical Trading Examples**
- **Live Trading Sessions**: Conduct live or simulated trading sessions where you apply price action techniques in real-time.
- **Case Studies**: Analyze historical trades using price action to show what worked and what didn’t.
- **Mistakes to Avoid**: Discuss common mistakes traders make when relying on price action and how to avoid them.
### 5. **Market Analysis and Updates**
- **Weekly Market Outlook**: Provide weekly analysis using price action to predict potential market movements.
- **Sector Analysis**: Apply price action to specific sectors like tech, healthcare, or finance, and discuss sector-specific trends.
### 6. **Educational Series**
- **Building a Trading Plan**: Guide viewers on how to build a comprehensive trading plan using price action.
- **Risk Management**: Emphasize the importance of risk management in price action trading, including stop-loss placements and position sizing.
- **Psychology of Price Action Trading**: Discuss the psychological aspects, such as maintaining discipline and managing emotions while trading.
### 7. **Q&A and Community Engagement**
- **Ask Me Anything (AMA) Sessions**: Regularly host Q&A sessions where viewers can ask questions about price action and get direct advice.
- **Community Trade Reviews**: Encourage viewers to submit their trades for review and provide feedback based on price action analysis.
By focusing on these aspects, your channel will provide comprehensive and valuable content for traders and investors interested in mastering price action. Would you like to explore a particular type of video from this list in more detail?
BTC Bearish Signs Not used any technical analysis yet, But BTC mostly follows the previous patterns. BTC just got rejected by the heavy support and created the double top chart patterns.
In the past, we saw a downtrend when this pattern was formed.
This is not to spread the negativity in the market, although I'm also bullish on BTC on a higher timeframe. But to be aware of what position you are holding, tighten your slow loss so that you don't attract loose.
Be safe, Trade safe. For more updates, follow me
Long Ircon for target 360 It seems like you're asking for a chart analysis for Ircon International Limited (IRCON) with a target price of 360. Unfortunately, as an AI, I don't have real-time access to current market data or the ability to generate charts. However, I can guide you on how to conduct a basic chart analysis using historical price data if you have access to a financial charting platform or software.
Here's a general outline of steps you can follow:
Gather Historical Price Data: Obtain historical price data for IRCON. You can typically find this data on financial websites or through trading platforms. You'll need daily price data for a significant period, preferably several months to a few years.
Plot Price Chart: Plot the historical price data on a price chart. You can use a candlestick chart or a line chart, whichever you prefer. Make sure to adjust the chart's timeframe to your analysis horizon (e.g., months or years).
Identify Trends: Look for any discernible trends in the price movements. Trends can be upward (bullish), downward (bearish), or sideways (neutral). Trends can help you understand the overall direction of the stock's price.
Support and Resistance Levels: Identify significant support and resistance levels on the chart. Support levels are where the price tends to find buying interest, while resistance levels are where selling interest tends to emerge. These levels can help you identify potential entry and exit points.
Technical Indicators: Apply technical indicators like moving averages, MACD (Moving Average Convergence Divergence), RSI (Relative Strength Index), or Stochastics to gain further insights into the stock's price movements and momentum.
Volume Analysis: Analyze trading volume alongside price movements. Volume can confirm the strength of a trend or indicate potential reversals.
Pattern Recognition: Look for chart patterns such as head and shoulders, triangles, flags, or pennants. These patterns can offer insights into potential future price movements.
Risk Management: Always consider risk management strategies such as setting stop-loss orders to limit potential losses in case the trade doesn't go as planned.
Target Price: Based on your analysis of the chart patterns, trends, and indicators, determine a target price of 360 for IRCON. Make sure your target is realistic and aligns with your risk tolerance and investment goals.
5 Years Multiyear Breakout at JKTYRE5 Years #Multiyear #Breakout at #JKTYRE (JK Tyre & Industries Ltd) Weekly Chart. Its #Outperformed #Nifty.
BSE: 530007 \\ NSE : JKTYRE
HEAD & SHOULDER FAILURE :-
Head and Shoulder is a reliable reversal chart pattern that forms after an advance or a decline and the completion of the formation suggests a reversal of the existing trend. Global Equity Markets report focuses mainly on chart patterns with horizontal boundaries. H&S shoulder chart patterns with horizontal necklines are usually highlighted in the weekly reports.
As it is the case with different classical chart patterns, H&S reversals can fail. However, the failure of this specific reversal chart pattern can be more informative than other classical chart pattern failures. Both the failure of a H&S after a confirmed breakdown of the neckline or failure without completing the chart pattern with a decisive breakout, would validate earlier uptrend will continued.
ONLY FOR #educational
NOT SEBI REGISTERED. #LEARNEARN (TRUST YOURSELF)
#nifty50 #sharemarket #BREAKOUTSTOCKS #Multibagger #sharemarket #sharemarketindia #sensex #technicalanalysis #Chartanalysis #headandshoulders #doubletop #doublebottom #parallelchannel #relativestrength
DISCLAIMER: I am not SEBI registered analyst. All posts are for educational purpose only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.
TradingView Community Awards 2023Our 2023 Community Awards have arrived! It's time to shine a light on the standout traders, the ones who have not only shared consistent ideas on our network, but have also expanded their influence and captivated our trading community with countless boosts, follows, and comments.
Below, you'll find the profiles of our winners. This includes the top achievers who not only made it to our Editors' Picks but also bagged a free Premium plan! And let's not forget our second and third-place stars, who are also getting their well-deserved spotlight. Make sure to check out and follow these remarkable authors! 🌟🏆📈👇
🏆 Most popular ideas:
These are the ideas that created the most engagement from our community in 2023. Check out how they stood the test of time. 🔥📈💡
🥇 Gold
- Don't Dread! Spread the Thread in Polymed! Looks good Ahead!
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- HUL Analysis! W and Flag and Pole!
🥉 Bronze
- Bank Nifty Positional view
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Dive into the most valuable Pine Scripts of 2023 on TradingView. They're game-changers, loaded with innovative features to enhance your trading. Check them out and level up your strategies! 🌲📊🚀
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🥉 Bronze
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🏆 Best Educational Ideas
Packed with wisdom and top-notch strategies, these ideas are gold mines for anyone keen to learn. Dive in and boost your trading know-how!📖💡
🥇 Gold
- Interpretation Of Chart Patterns According To Market Phase
🥈 Silver
- EMA, Envelope & Bollinger bands for Trend Trade with Small SL
🥉 Bronze
- Risk and Opportunity
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Our most active chatters of 2023 on TradingView! Think of them as the Chatty Cathys and Talkative Toms of the TradingView social network.🎙️😄
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What is Technical Analysis..?Technical Analysis is the study of price and trend changes in Commodities, Stocks, Futures and various other market instruments. The price changes are primarily evaluated by
various indicators, oscillators or trading systems to give a trader an edge in trading. Technical analysis is not a perfect science by any means, but it does have certain characteristics,
patterns or indications which may be repetitive or may be intuitive and tend to possess Zen-like predictability power. Technicians plot these prices and price changes on a chart and
apply various indicators and studies to figure out potential supply and demand areas, trade setups, targets and stops to win. Technicians have developed various methods of
representing market data on charts. The most extensively used charts are bar charts, line charts, candlestick charts and point & figure charts. There are many other variations like
Kagi, Renko and Range bar charts.
The most basic charts in technical analysis follow simple Cartesian structure (X&Y axes) to draw in 2-Dimensional space. On the X-axis (Horizontal), the time is plotted and on the Y-
axis (vertical) the corresponding price is plotted. Any indicators derived from the time and price values, are either overlaid on the chart itself or plotted in secondary-graphs below
and above the main price time chart. Some traders plot volume on the X-axis as a representation of market activity. Charts are plotted using various scales such as arithmetic or log
charts. Arithmetic charts have the same distance between the prices where as log or semi log charts have a variable distance to represent the proportionate price movements.
There are many facets in technical or chart analysis to understand and master. Price, Volume, and Time are the three most basic components of the market. Many successful traders
only study price action to make money . Many other traders use complex mathematical theories and faster computer technologies to analyze and participate in the market action.
Nevertheless, regardless of any trading theory or complex mathematical algorithm, the success in the markets lies with individual who can clearly understand the price-action and
make the decisions to pull the trigger at the right time with excellent discipline . These individuals possess a higher understanding of market theories, market psychology and
dynamics and money management methods and have mastered their execution skills. Charts, patterns, indicators and software are only basic market tools. Successful traders view
them just as tools and understand the usage. They build a theory and trade with a solid money management plan.
AXIS BANK cup & handle in the making.
The cup and handle pattern is a bullish continuation pattern that indicates a strengthening of the price of a security succeeded by a breakout after which the price of the scrip shoots up. The period of consolidation is the U-shaped cup whereas the breakout is signified by the handle.
Cup and handle chart patterns are said to have been popularised by American technical analyst
William J. O’Neil through his book How to Make Money in Stocks in the late 80s. O’Neil provided an in-depth analysis and identification of the cup and handle in a few passages. He wrote that cup and handle chart patterns last, in time duration, from 7 to as many as 65 weeks (most are usually three to six months). The usual percentage correction from the absolute peak to the low point of the price pattern varies from 12% or 15% to 33%.
Cup and handle formation
1. A cup and handle formation must be preceded by a trend for it to qualify as a continuation pattern. A trader should make sure that it is a few months old but no more than that. If the cup and handle formation is too mature, it might mean that the consolidation phase is on the weaker side and hence hurt potential gains.
2. A cup with a more rounded bottom is more preferable to one with a sharper bottom. A soft U-shape indicates that the price of the security will follow a course of correction with a few weak spells around the threshold of the cup and with support from the bottom.
3. The handle should ideally form in about a week or two. It has a downward price momentum when the price could plunge below the low touched a few weeks earlier.
4. The depth of the cup should be up to 33% of the previous upward surge but no more in normal circumstances. However, in choppy markets it could go as far below as 50% and up to 66% in extreme situations.
5. Ideally, a cup and handle formation should have similar highs on either side but usually that doesn’t happen
Trading cup and handle chart patterns
– Traders should look for a breakout succeeded by a substantial rise in volumes of trade above the line of resistance.
– A price target could be set at the same distance from breakout as it is between the bottom of the cup and the breakout.
– There are two potential points of entry for a trader in the cup and handle formation. The first comes just after the breakout duration. The volume of trade often sharply rises at this juncture and indicates a good entry point.
– The second, when the price of the security hits the line of resistance again after the breakout. Traders might even consider taking a long position when the asset breaks the line of resistance of the cup and handle pattern.
– A stop target can be set at the low of the handle. It could also be increased by a multiple of two if the trader can afford to take greater risk as the gains could be bigger.
Height of cup is 152 points therefore,
entry price - 779,
target - 930 (based on cup height), and
stop loss of 718 can be placed.
Theory vs Real world.Theoretically, FLag and Pennant patterns are short term patterns that take about 3-4 weeks for completion by which point consolidation ends and the prior trend picks up pace. But in this chart the consolidation had been taking place for 9-10 weeks. And finally the much anticipated breakout has occurred and the scrip is giving the classic flag style move ! But flags/pennants are short period patterns as earlier told, so is it a Pennant or not? Or is it what we call a measured move?
Funny world of chart patterns XD
PS: Just an observation
Technical Analysis of Nifty 50: Key Levels, Patterns, and BreakThe image appears to show a technical analysis chart of the Nifty 50 index, with indicators, support/resistance zones, and patterns marked on the chart. Here's an analysis:
1. **Key Levels**:
- **Resistance (Seller's Zone)**: Around the 24,664.55 level. A breakout above this level might indicate further bullish activity, as stated in the chart.
- **Support 1**: Near 24,498.75. This could serve as the immediate support level.
- **Support 2**: Around 24,348.90, a stronger support area in case of a downward move.
2. **Chart Patterns**:
- **Morning Star Pattern**: Highlighted near Support 1. This bullish reversal pattern indicates potential buying momentum.
- **Price Action**: The market is consolidating between the Buyer’s and Seller’s zones.
3. **Indicators**:
- **RSI (Relative Strength Index)**: Currently around 53.75, which is neutral. It's neither overbought (>70) nor oversold (<30), suggesting a balanced momentum.
- **Volume**: Increased buying volume in the Buyer’s zone indicates significant interest at lower levels.
4. **Potential Scenarios**:
- **Bullish Scenario**: If the price crosses the seller’s zone, marked at 24,664.55, it may lead to further upside as indicated in the chart.
- **Bearish Scenario**: If the price breaks below Support 1 (24,498.75), it could test Support 2 (24,348.90).
5. **Strategy**:
- Watch for a breakout above the Seller's zone with volume confirmation for long entries.
- Look for price action signals around the Support 1 level for potential buying opportunities if the price retraces.
Would you like a deeper analysis of any particular element?
IREDA - Forming Potential C&H. Best above 268IREDA - Beauty of charts !! Initially i spotted this chart forming VCP pattern, post which the stock ran up to 300. (see my prev. post)
Post correction, the stock now is forming potential Cup & Handle Pattern.
Educational Tip : Please spend some time on chart patterns. My Fav. being Flag & Pole, C&H and VCP.
View valid above 268 for target of 300, 415 and 600+
Strict Stop loss of 235.
Disclaimer : Educational Post. Please do your own research.
-----------------------------------------------------------------------------------------
My Previous POST on IREDA
Tirumalchm: A Promising Reversal - Golden Zone Bounce Tirumalchm, a notable entity in the market, is currently revealing a compelling narrative on its charts that has captured the attention of traders and investors alike. The stock is showcasing a noteworthy reversal, bouncing from the golden zone and marking a breakout on a larger time frame, presenting a potentially lucrative opportunity.
The recent reversal from the golden zone, a key technical area often associated with trend reversals, adds an intriguing dimension to Tirumalchm's chart analysis. This bounce signals renewed investor interest and confidence, suggesting a shift in the stock's trajectory.
What further enhances the appeal of Tirumalchm is the breakout observed on a larger time frame. Breakouts on longer time frames often carry more significance, indicating sustained momentum and a potential trend reversal. Investors keen on capturing trends over an extended period may find this breakout particularly appealing.
As traders and investors consider Tirumalchm, it becomes crucial to conduct thorough research, combining technical analysis with an understanding of the company's fundamentals. The confluence of a reversal from the golden zone and a breakout on a larger time frame provides a comprehensive picture of the stock's potential.
Risk management remains paramount in trading decisions. Monitoring market conditions, staying informed about industry trends, and aligning positions with personal risk tolerance are essential practices for those considering opportunities presented by Tirumalchm's recent chart developments. Seeking advice from financial professionals or advisors can provide valuable insights tailored to individual trading strategies and risk profiles in light of these promising chart patterns.
Cup pattern breakoutOn the monthly chart, the stock has recently undergone a noteworthy breakout from a cup pattern. Cup patterns are recognized by a rounded bottom formation, often signaling a potential bullish reversal in market sentiment. The significance of this breakout is heightened when observed on a monthly timeframe, as it provides a more comprehensive view of the stock's long-term trends.
Analyzing a breakout on the monthly chart implies a more extended perspective, suggesting that this development could have lasting implications. Monthly chart patterns are generally considered to carry more weight, making them particularly influential in shaping market sentiment over an extended period.
From a technical standpoint, the breakout from the cup pattern on the monthly chart implies a potential shift in the stock's long-term trend. This could be interpreted as a positive signal by technical analysts, potentially attracting attention from traders and investors seeking sustained opportunities.
Analyzing NDTV Chart: Breakout OpportunityHere's an in-depth analysis of the NDTV chart, highlighting a potential breakout trading opportunity based on crucial chart patterns.
🔍 Chart Analysis 📉
Breakout Alert: The weekly chart of NDTV showcases a significant breakout from a long-standing falling trendline. This trendline's steep angle, spanning over 45 degrees.
Consolidation Period: The stock has undergone almost 15 weeks of consolidation within a particular price range. Such prolonged consolidation often precedes a substantial price movement.
📊 Trade Strategy 📈
🔵 Entry: Consider initiating a long position at the current market price (CMP) of ₹224, taking advantage of the breakout potential.
🔴 Stop Loss (SL): Mitigate risks by setting a stop loss at ₹205. This level will help protect your position against unexpected adverse price fluctuations.
🎯 Target: Aim for a target price of ₹260. The breakout from the falling trendline and the consolidation period could propel the stock towards this level.
📣 Trade Analysis Summary 📢
The breakout from a steep falling trendline, coupled with the prolonged consolidation period, signifies a potential upward momentum for NDTV. However, always be cautious when dealing with strong trendlines, as they can also result in rapid reversals.
Trading carries risks, and it's advised to consult with financial experts and keep track of market developments before making any trading decisions.
#TradingAnalysis #BreakoutOpportunity #StockMarket #NDTV
(Note: This analysis is for educational purposes only and not financial advice. Always conduct thorough research before making any trading decisions.)
Tata Steel Confirm Targets 2023 Tata Steel Chart Analysis For Long Term and Short Term Analysis
In Tata Steel stock found Two Chart Patterns - Flag Chart Pattern and Decending Triangle Chart Pattern
Flag Pattern - Continuation chart Patterns ( Bullish Breakout Possible )
Decending Triangle Chart Pattern - Bilateral Chart pattern ( Bullish or Bearish Breakout Possible
Rising Wedge Chart Pattern On All TF - GBPUSDIt's important to note that the behavior of the GBPUSD pair can be influenced by a wide range of factors such as global economic conditions, political developments, supply and demand, and market sentiment. Therefore, it's important to do your own research, analyze the market conditions, and consult with a qualified financial advisor before making any investment decisions.
However, I can provide an explanation of the chart pattern you mentioned, which is the rising wedge pattern. A rising wedge is a bearish chart pattern that occurs when an asset's price is trading within an upward sloping channel but with a contracting range. This pattern is characterized by a series of higher highs and higher lows that form two converging trendlines that slope upward.
The rising wedge pattern is formed when the price reaches a resistance level and starts to consolidate, with the highs getting lower and lower while the lows maintain their level, indicating that the buyers are losing momentum. Once the price breaks below the lower trendline of the wedge pattern, it can indicate a trend reversal, and traders may consider shorting the asset.
However, it's important to note that the rising wedge pattern is not foolproof, and false breakouts can occur. Additionally, it's essential to use risk management techniques, such as setting stop-loss orders, to limit potential losses if the trade does not go as expected.
In summary, the rising wedge pattern is a bearish chart pattern that can occur in the GBPUSD pair or any other asset, and it indicates a potential trend reversal. However, investors should conduct thorough research and analysis and consult with a financial advisor before making any investment decisions based on chart patterns.
Bitcoin Smart Money Trade SetupOur trade is based on the Smart Money Concept, which is a strategy that seeks to identify and follow the trading activity of large institutional investors, also known as "smart money." To do this, we will be following four key steps to identify trade levels:
Step 1: Structure Identification on hourly time frame- We will be analyzing the hourly chart to identify key levels of support and resistance , which can provide insight into where the price of the asset is likely to move. This will involve identifying trendlines , Fibonacci retracements, or other chart patterns that can give us an idea of the underlying structure of the market.
Step 2: Imbalance move- This step is about identifying the movement of institutional investors, also known as "smart money". By analyzing the buying and selling activity of these large players, we can get an idea of where the market is likely to move in the future.
Step 3: Point of Interest- This step is about identifying specific levels or patterns on the chart that are of particular interest to us, based on the institutional move from step 2. This could include a key level of support or resistance, a pattern that has formed on the chart, or an indicator that is giving a specific signal.
Step 4: Trade Setup- This step is about determining where to enter and exit the trade, based on the information we've gathered from the previous steps. We will be setting our entry and exit levels, as well as our target and stop loss levels.
It's important to keep in mind that trading always carries a risk and it's important to understand the risk management and have a well-defined strategy before making any trade. Additionally, the smart money concept is a strategy that requires a good understanding of market structure and institutional behavior, which can be challenging.
The entry level is 22925, the target is 23555 and the stop loss is 22840
What we see by analyzing the pharma index with 2 theories.Hey.. What do we get if we analyse one chart with two different theories ?
Is it a good idea ?
We use different techniques and methods to analyse a chart.
Some traders use chart patterns, some use moving averages and others use any other technique.
We all did the analysis to determine the trend of that instrument.
What if we use two different theories for the analysis ?
It will give us a more accurate view for that instrument.
Lets check the analysis Nifty Pharma Index Daily Chart by 2 different theories of Chart Patterns and Exponential Moving Averages.
Chart Pattern
A symmetrical triangle pattern appears on the chart.
And today we see the Breakdown of the pattern.
The breakdown of the pattern shows the weakness of the index.
Exponential Moving Averages
For this we use four exponential moving averages of 20, 50, 100 and 200 periods.
We start from the 20th of Jun 2022 when the price is below the all exponential moving averages.
From that day the price started its upward move and it crosses all ema's one by one
and finally it reached at 200ema on 5th of Aug 2022.
During the period of 3 months the all 4 ema's come close to each other.
But the price has failed to cross the 200 ema and it starts its downward move.
From 22nd of Aug 2022 the price tested its 20 ema and 50 ema but has failed to hold them.
Finally on the 16th of Sep 2022 the price closed with a big red candle.
The price traded below to all 4 ema's shows the weakness and start of a downtrend.
Conclusion:
From both theories we see the weakness in the pharma index.
So, the stocks of the sector show the bearish move in the coming days.
This explanation is for educational purposes.
My only intention is to share my style and techniques of analysis.
Thanks
BTCUSD Bybit Chart Analysis August 31
Hello.
“Make it simple, make profit”
It’s BitcoinGuide.
Don’t forget to
“Follow” me and press “Likes”.
If you "follow" press,
Only 30 Min chart ,
In real time, you can check major sections and move,
Real-time "update I dea" can be checked.
I will begin BTCUSD Bybit Bitcoin Chart Analysis for August 31.
Bitcoin 4 hour chart.
The evening trend followed the Nasdaq and plunged for no reason.
After yesterday's double touch,
In the morning, beat rebounded to somehow survive alone
Ignoring charts, patterns and waves
They are giving and receiving each other in a narrow range of fluctuations.
It is a movement to see if chart analysis has any meaning.
It is currently undergoing a V-shaped rebound.
Touching the red resistance wire
All patterns that were broken yesterday are restored.
Today's approximate top price and bottom price are displayed
I want to put the bottom near the green support line, but
Due to the whims of the Nasdaq, I proceeded to the bottom with room.
Check the red upward / sky blue downward movement path centered on the purple support line
I made today's trading strategy.
Arrow movement path, one-way long position strategy.
Non-fat short according to Nasdaq / Long non-fat in the morning
Now, all movements can come out.
This is the place with the most junctions.
I thought the analysis would take all day, so I decided to win.
There are no indicators to be announced today, so don't worry about bad news/collapse.
Nasdaq is also rebounding.
We focused on vertical rise with a probability of about 5%.
It is a strategy that ignores sideways or vertical declines.
Please refer to the main support lines.
* When the arrow moves
Long -> Short -> Long -> Short -> Long Switching Strategy
You can operate the switch in the middle by yourself.
I started with a long position chasing $20361.5.
If it breaks the purple support line,
Note the green support line.
At the bottom, we boldly raised the price to the bottom.
1. 20361.5 USD long position entry price / Stop loss price when the purple support line is broken
2. $20782.5 short position switching / Stop loss when breaking through the sky blue resistance line
3. 20449 long position switching / Stop loss when the purple support line is broken
4. $21178.5 long position target and target section
The last short position operation section is operated autonomously.
If today's strategy is successful
On spot exchanges, good moves can come from major altcoins.
My analysis is for reference only.
In principle, stop-loss is essential, I hope that you operate safely.
thank you.
break the head and shoulder pattern l&tHello everyone, today I will show you L&T chart pattern. Yesterday a friend of mine showed his technical analysis on TradingView. They show us all L&T chart patterns. I study on that specific L&T chart pattern. Than I also suggest you. Buy L&T around 1650. After coming days it is going to go up because its bullish in the week and also on the day chart that's why i suggest you buy 3 to 4 weeks and increase your ride enjoyment gradually.You can also buy future and call as you wish and you have another option equities. And I also suggest you have a more safe side of Equity when you want to earn money because Equity gives you money time and time again. Because we know that we show charts and much more in the stock market. The shard will be going up and down on behalf of all this. But we don't know how long it will take so I told you always keep time
Finolex cables case studyFinolex Cable spot CMP : 455
Study :- Price action + chart patterns + Elliot wave
Time Frame :- Daily
There is Rising channel formation, currently price is around the demand line of long term structure, on smaller range of time frame there is formation of symmetrical triangle formation, which have demand line around current levels. so there are 2 structure formation as per chart patterns and both have demand levels around current levels. confluence of demand levels gives more confirmation of reversal.
Counter have demand zone as per price action, which can be considered as a retest of previous break out levels, demand zone is marked on the chart which almost confluence with the demand levels of chart pattern structure.
Elliot wave formation :- counter at present look to be in corrective wave 4 of impulse phase and is about to mature, if major wave 4 matures and major wave 5 unfolds for the demand zone reversal can be seen and much higher level possible as per calculation of major wave 5 maturity.