Eurousd may change its down trend.
It broken the downward sloping channel and taking retracement. If sustain and breake higher high might be move upside.
In this trading strategy, we'll explore a potential downside breakout scenario for the EUR/AUD currency pair. A downside breakout occurs when the price of an asset breaks below a significant support level, indicating a potential bearish trend. Here's how you can approach this trading opportunity:
Entry:
Look for a clear break below the lower boundary of the box...
NIFTY Intraday Trade Setup For 16 Oct 2023
Bullish-Above 19810
Invalid-Below 19760
T- 19910 20030
Bearish-Below 19725
Invalid-Above 19775
T- 19635 19530
NIFTY has closed on a slight bullish note with 0.5% gain last week. 19850 is the hourly resistance, breakout will initiate another long leg of rally while we picked it from 19500 last week with 0.5%...
GBPUSD seesaws at a three-week high ahead of the UK data dump, probing a six-day winning streak. However, the RSI (14) line steadies near the overbought region and joins a looming bear cross on the MACD to suggest that the bulls are running out of steam. With this, a pullback towards the late September swing high of around 1.2270 becomes imminent but a convergence...
Its a time to go long on ETHUSDT
Although the price has engulfed the significant support, price must retrace to that level to take order for short. So we can buy on retracement.
Fibonacci retracement and extension
Fibonacci retracement and extension is a technical analysis tool that uses horizontal lines to identify potential levels of support and resistance in an asset’s price movement. By plotting the price swings from high to low, traders can use the Fibonacci ratio of 23.6%, 38.2%, 50%, 61.8%, and 100% to forecast where the price may...
MCX taking support at 50% fib retracement. daily RSI presently at 60 Support with strong weekly and monthly RSI. Positive reverse divergence can also be seen. A green candle from here will confirm entry into the trade. We can trace the trade till last swing high.
The price of Bitcoin has entered the 4-hour Imbalance zone, as we warned in all our recent ideas. Consequently, the price has broken above the global descending trendline and moved out of the previous price range. This BTC rally is associated with a significant accumulation of short positions, with the total volume of shorts reaching up to 85% compared to longs....
2 ideas were emerged
1) it may be a triangle and gave a breakout and doing its retracement.
2) regular flat formation and C wave correction taking place.
i will try to upload the second view in below comment else i will post a different chart.
Nifty is currently facing resistance at 19718 with support at 19425 level. This resistance and support are based on Trend-based Fib retracement. Break out of 19718 and sustenance above 19750 in daily candle can take nifty to level 20200 on a monthly basis with some resistance at 20000 level.
Also, 50 days EMA is around 19576, and 20 days EMA is 19727 which acts as...
Chart Type - Heikin Ashi
Time Frame - Daily
Indicator:-
1. Moving Averages (For entry and exit)
2. Fibonacci Retracement (For support and resistance)
The price has successfully tested its Fib retracement level of 23.60% which is 179.15, the level acts as a strong support. Also the moving averages came close to each other showing the...
Wait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the...
Wait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the...
Wait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the...
GBPUSD renews a 5.5-month low while extending the previous week’s downside break of the 200-day SMA, as well as drilling the 61.8% Fibonacci retracement of March-July upside. In doing so, the Cable pair ignores the oversold RSI (14) line while taking clues from the bearish MACD signals, which in turn suggests limited downside room for the Pound Sterling. As a...
Trend is up. Super trend indicator is coinciding with 20SMA and they can act as a support in case of a small retracement. In case price bases or takes support at the mentioned levels, can look to plan a long trade, keeping a close below as SL.
Nifty seems to have completed 5 impulsive waves on upside from 16820
Wave 4 retraced exactly 38.2% retracement.
Wave 5 forming ending diagonal, with strong negative divergence.
Minimum tar in coming days 19000 expected.
Any upmove to 20500 should be used to exit longs and add shorts too.
Divergence visible on adx, rsi, macd, cci, mfi index
Major gann dates...
STRATEGY: BUY CMP i.e. 985-980 SL:905 TGT: 1130-1150
Theory:
The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. It was developed by William O'Neil and introduced in his 1988 book, How to Make Money in Stocks.
As its name implies, there are two parts to the pattern: the cup and the handle. The cup...
