After breaching the support of the upward trendline, BTCUSD has shifted into accumulation mode. It's currently attempting to shape a bullish flag pattern, signaling a significant probability of an upward breakout. The longer the consolidation and accumulation phase lasts, ideally around three weeks, the more robust the potential push to the upside becomes.
BankNifty Analysis - Stance Bullish ⬆️ BankNifty defends the support of 47465 today also, much-needed confirmation to hold on to our bullish stance. The next leg of the rally should ideally come from the banking sector. But the biggest concern I have is that the actual torch bearer of the directional trend has shifted to NiftyIT from BankNifty. From Jan 2024, BN...
On April 2nd, Fin Nifty experiences dynamic shifts amidst evolving market conditions. Traders observe fluctuations in financial sector stocks, highlighting potential opportunities for short-term trades. Cautious monitoring of key indicators and trend patterns is advised to capitalize on price movements. Breakout strategies demand patience, awaiting decisive market...
At press time, the Waves crypto was trading close to 3.88 USD, reporting a swift intraday loss of nearly 0.81%. The Waves price traced 20 day EMA and bounced back higher indicating a buyers presence at the lower levels. The Waves crypto trades sideways above the exponential moving average of 20 days. The last couple of sessions have noticed a fight between the...
If gold maintains its position above 2173, an upward movement is anticipated. However, a break below the .618 Fibonacci level, specifically dropping below 2170, could trigger significant downward momentum. Monitoring these key levels will be crucial for anticipating market direction in the near term. Investors should remain vigilant for potential shifts in gold's...
Hello everyone, it's RKarina here again! Currently, USD/JPY continues to consolidate below the 151.50 level in the Asian trading session on Tuesday. Concerns about the Japanese government's potential intervention to strengthen the Yen are dampening the upward momentum, coupled with the overall weakness of the US Dollar, which is limiting the strong upside...
Hello everyone, let's find out what's happening with EURUSD today! Last Friday, EURUSD ended the week with a downward trend. But today, it has found some support at the 1.080 level, causing a slight comeback with the current price hovering around 1.082 as it aims for a recovery towards the Fibonacci target of 0.5 - 0.618. If it can maintain the 1.080 support...
Utilizing Elliott Wave theory, I've conducted a thorough analysis of Nifty 50, indicating a prevailing bearish sentiment with a compelling case for an impending correction towards the 21100-21000 range. Here's a breakdown of my analysis: 1. Identification of Ending Diagonal and Subsequent Impulse Move: - In January 2024, an Ending Diagonal pattern commenced,...
Looks like we have shifted to a short term bearish scenario and therefore we can wait for the price to retrace towards 2161 and then create a short position with SL - 2165 and target as per chart
Nifty is forming an inverse head and shoulder on the 15 min time frame moreover the overall market sentiments are on the fear side . The market is shifting towards bearish trend furthermore a potential downside til 21587 and than 21146 is possible within upcoming months
The EUR/USD currency pair is currently navigating a downtrend, encountering resistance at a critical level. As market participants closely monitor this resistance zone, the focus shifts to the potential continuation of the prevailing downtrend. Traders are diligently assessing technical indicators and market dynamics to anticipate whether the EUR/USD pair will...
Amidst the forex markets, the USD/JPY pair is exhibiting remarkable bullish momentum, poised for a potential breakthrough to extend its upward trajectory. This superbullish sentiment reflects a confluence of factors, including robust economic data, shifting monetary policies, and geopolitical dynamics. Traders and investors alike are eagerly awaiting the decisive...
Hello dear friends! Today, GBP/USD is gradually decreasing to the level of 1.2800 tons in the first day of the new week. The US Dollar has prevented its losing streak as the market shifts to risk aversion ahead of the highly anticipated US CPI report, which will be released on Tuesday. This has somewhat limited the upward trend for the GBP/USD pair. As a result,...
Gold technical analysis: Gold showed a volatile trend yesterday. During the European trading session, it once climbed above the 5-day line of 2168 and touched the 2172 line. However, the pressure on the upper short-term trend line failed to be effectively broken, causing the market to fall back and adjust again. From a technical point of view, the main rhythm of...
Continuing with the same setup as I had shared in my earlier long thread, I have no intention to go long as of now. I will short Nifty near 22700 (earlier it was 22600 but prolonged breakout shifted the upside target to 22700). Stop loss will be any hourly candle close above the channel top. First target will be middle of channel and second target bottom of...
LINDEINDIA attempted a BO in a weak market breadth today with higher than average volumes. Also, 21/50 EMA cross is happening today as well which is a positive point of support shifting upwards and one can think of using 21EMA as a support now once it crosses or if you are a pull back buyer on support one can wait to take a position at 21 EMA instead. Relative...
A series of US data was released last week. The durable goods orders and 4Q GDP announced early on Tue's and Wed's were both below market expectations. However, the price of gold remained in a narrow range. It wasn't until Thur's release of the core PCE price index that the gold price finally broke clear the resistance zone of 2035-40. On Fri, a new round of...
Closed the position for a profit of about 1.79% on the invested capital. However, I consider this trade only as a breakeven trade. I took the initial entry when it was technically undervalued. However, later, the market shifted into bear mode and the pattern evolved. I added to the position, increasing the total holding to about 2.5% of the net capital, my...