Possible Elliot wave counts of GBPJPY (now down then up)Hello Friends, here we had shared possible Elliot wave counts of GBPJPY on hourly time frame chart, in which wave structure says that currently we are in wave (c) of wave 2 of wave (C) of some complex correction heading towards north, on bigger scale post (C) again we may start journey towards south directions, Right now on hourly chart we can assume that we may witness fall as a wave iii, iv & v of (c) of 2 of (C), (c) can be an equal of (a) so it may show us 164.858 levels as an equality. Now down then up, Overall it's suggesting buy on dips only. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
RK's mass psychological cloud is also suggesting good support at same buying zone area
Bigger picture
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
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It wants to go up!-A quick look at the current situation of BSE500 prices according to graphical analysis!
-Monthly bearish bias, support levels are at: 22.5K and 22.2K. With the loss of the last support at 22.2K, prices will look for the 22K region.
-The daily chart is showing that prices are trying to reverse the dominant downtrend, where, we can see above the downtrend line being respected by prices. Just above, we have the long average that could also serve as resistance for prices not to advance further. If prices fail to stay above 23.56K, they will turn back to make a bottom test at 22.7K.
-So we have two scenarios for prices based on the daily chart! Pessimistic scenario is the red line. Optimistic scenario is the green line!
-Do your analysis and good business.
-Be Aware, If You Buy, Use Stop!
-See below for other graphic reviews!
BTCUSD possible Elliot wave counts (up, then down and again up)Hello friends, here we had shared BTCUSD Bitcoin chart with possible Elliot wave counts on daily, 4 hourly and on hourly chart which seems aligned with each other, so the conviction increases.
Well, on daily time frame it seems that post correction we are unfolding wave 1 of some degree, in which we had already done wave 1-2-3-4 of one lower degree, and now possibly we are unfolding wave 5 of 1, so post completion of wave 1 we can assume that retracement is due as a wave 2 which can unfold as wave ABC hopefully, Overall we are in impulse towards north, one can wait for dips as a wave 2 to grab an opportunities to find best entry to go long, so we should have to ride only in right direction because right direction is always more important and better then speed. I am not sebi registered analyst, My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
Possible wave counts on daily time frame
Possible wave counts on 4 hourly time frame
Possible wave counts on hourly time frame
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
SYMMETRICAL TRIANGLE WAITING A BREAK 👀👀Hello friends I am sharing the weekly chart of Bajaj Finserv and it seems that is trading in a Symmetrical Triangle pattern nowadays with taking a resistance on upper line of triangle and support from the lower line of support mentioned on that triangle so what we can do after a Breakout Or breakdown happen or Until the for this I am sharing the ideas below.
BREAKOUT BREAKDOWN-:
BREAKOUT IDEA-: If it will break the Resistance of that triangle we can go for long for the target of 1800 zones which is near about the next resistance.
BREAKDOWN IDEA--: If it will break the Support of the Triangle we can go for a short for the target of 1100 zones which is nearly about the next support.
TARGETS-:
IDEA FOR PRESENT SITUATION-: Until then it gives a breakout or breakdown for a directional trade we trade on a Buy on support sell on resistance or sell on resistance buy on resistance strategy.
SUPPORT RESISTANCE PLAYING-:
Mine believe- Given time for waiting the maturity of trade it will never vain at the end you will come out with learnings.
NOTE-: This is not and trade or investment advice. This idea is meant for learning only. Invest your capital at your own risk
Bank nifty Whats Next ?Hello, everyone as you can see today bank nifty came up and tried to sustain up all the time. After taking the support from the pullback of triangle pattern it went up dramatically giving us a call buy and also daily charts are even bullish you can see them below i have tried to make two trend lines from different places. btw do follow us and like the post
Pennant breakout in ISMT !!!Before heading towards a trade idea, let me clear you about the pennant chart pattern.
->This pattern is majorly divided into two components 'pole' and 'pennant'.
->This kind of pattern forms when a stock has seen a huge and steep rally which makes a 'pole'
component of the pattern.
-> After the rally, that particular stock goes into a hibernating period, which we call consolidation.
This consolidation phase forms the pennant or flag of the pattern.
->Pennant is generally triangular and is for a short period whereas the flag is rectangular and in for long period.
->In markets, every period has an end when the consolidation phase is over the stock resumes the rally and there is a breakout
from the consolidation or the pattern.
->Target is estimated by the pole size, i.e. the previous rally.
After consolidating for almost 1yr ISMT has given the breakout
from the pennant pattern with thunder volumes which further indicates
the strength of breakout.
This breakout coincides with the monthly breakout of the huge cup and handle pattern.
Strong support for weekly RSI around 40 indicates and also breakout in visible.
⚡APOLLO HOSPITAL - SWING SETUP📊NSE:APOLLOHOSP
#apollohospitals analysis
Apollo hospitals reversal swing setup.
Swing upmove Above 4530 for a target of 4750 and with a stop of 4395.
let's analyse what's happening in Apollo hospitals.
#the current trend is down and It has completed 2 similar-sized and duration down legs,
taking support of the major up trendline and falling channel support line.
# simultaneously the sectoral index nifty pharma and nifty healthcare is also showing signs of reversals,
explained on the chart.
1. Weakening down trend each next down leg is getting smaller and the duration for it is also getting shorter,
2. the rsi indicator is showing a bullish divergence.
3. taking multiple supports.
#the target is projected as a measured move of the previous pullback move.
stop loss is below the support zone.
Use position sizing according to stop loss level.
Like this idea if you find it helpful and please share it with your friends.
Keep learning,
Happy trading.
Thank you.
Midnight: A new privacy and data protection protocol on CardanoProtecting personal data has long been debated in the crypto community. The Midnight protocol, powered by Cardano, will create new conditions for online interaction. It can grant access to regulators while maintaining user privacy.
Midnight: A new privacy and data protection protocol on Cardano
With the advent of Web2, it became possible to create social networks where people can freely communicate and share information. But these platforms are owned by centralized companies, which can expose users to restrictions or surveillance, and confidential information and personal data can be "leaked" to the network. Web3 can create an environment without censorship or control over user data. But the implementation of decentralized projects either reveals too much information about users or leads to an overly closed system.
Here's the dilemma: by making payments on the Internet using cryptocurrencies, users can thus remain anonymous by not providing their personal data to third parties. On the other hand, the more anonymous the digital process is, the more negatively the regulatory authorities treat it due to lack of control. And to solve this dilemma, IOG is set to launch a new platform called Midnight.
Midnight is a blockchain that helps protect personal and commercially sensitive data. Such a solution will be fundamentally new in online interaction: users can decide what information they want to disclose.
Midnight will operate as a sidechain on the Cardano blockchain and inherit its security and decentralization.This will significantly expand the usefulness of Cardano, as it will be possible to create an extensive network with secure data.
The platform will enable commercial companies to exchange critical information directly with each other. For example, they can transfer financial data without fear of leaks or disclosing confidential information. And private users will be able to safely share their personal data on the Internet and not be afraid that they will be misused.
Midnight will make it easier for developers to create smart contracts than ever before. In this case, you can use various popular programming languages, starting with Typescript.
Charles Hoskinson, the founder of Cardano, explained the paradox of having a privacy law and a disclosure law at the same time:
"Every time you engage in a regulated business, there’s a privacy requirement because a regulated business requires you to give away some personally identifiable information and there’s a privacy law on the other side that says you have to keep it secret. The problem is, if you try to do that in a blockchain setting, your private information becomes public to everybody."
Midnight solves this problem with several new features. An important component will be private smart contracts to help ensure regulatory compliance. Another feature would be that blockchain relies on zero-knowledge proof. It is a form of encryption and transaction verification that allows one party to prove to another that they know something without revealing the information itself.
To put it very simply, it can be explained as follows:
Imagine a cave where there is one entrance, which is divided into two paths: A and B. These two paths are connected by a closed door with a code phrase. Bob wants to check if Alice knows the code for the door. But Alice wants to keep the code from Bob.
To do this, they make a check: Bob is standing outside the cave, and Alice goes inside and takes one of two paths, and Bob needs to know which one. Next, Bob asks Alice to come back using one of the paths chosen at random. If Alice took path A, and Bob asked to exit using path B, then Alice must open the door using the passphrase. This way, she will prove that she knows it without revealing the phrase itself.
Simply put, a platform can provide access to regulators while maintaining user privacy.
Midnight is currently in development. It is worth noting that the new blockchain will have its own DUST security token, and with the help of anonymous smart contracts, the level of privacy will be transferred to the user's hands. And according to Charles Hoskinson, Midnight will replace existing confidential coins, such as Zcash and Monero.
In conclusion, Midnight is vital to Cardano's global goal of creating secure blockchain technologies. This protocol aims to solve one of the main problems in the crypto community that worries many users. This again proves that the developers remain true to their philosophy and values: making a product for people while preserving their rights and freedoms.
"Midnight – designed for developers, built for humanity."
DelhiveryThis stock has given good breakout on daily time frame along with positive divergence in RSI along with macd positive crossover.
Also possible Elliott wave counts are suggesting same bias, one can go long with strict stop loss of swing low of 289.90
Overall chart along with possible Elliot wave counts
macd positive
rsi breakout and rsi positive divergence
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Multiple indication of reversal in Nifty !!!A very strong reversal pattern is visible in nifty intraday charts
i.e. Inverted head and shoulder which indicates that the fall is over
for now and we could see a sweet reversal.
Also, nifty is taking support around the golden 0.618 retracement level which
coincides with 200DEMA.
Reverse Divergence is visible on RSI indicating a fall in the strength of bears.
Yesterday's data also indicates a short covering along with a gap up
probability.
'GOLDIAM' ready to boom like 'GOLD' !!!We all have witnessed the bombastic rally of Gold & Silver, now it seems that companies
that are engaged in business related to gold & silver are going to buzz.
Let's have a detailed overview of the stock in prominent timeframes.
Daily Timeframe: -
Goldiam has shown a breakout from a right-angled broadening wedge pattern which
was under construction for the last 4 months.
Thunder Volumes supports the breakout. Also, there is an RSI breakout which indicates the strength
of the stock.
All moving averages were been converged, and now slowly 20DEMA is diverging and crossing above all
important moving averages this indicates that the stock has finished the choppiness and is ready for a fresh move.
Weekly Timeframe: -
Goldiam is breaking from a time-long consolidation phase after base building formation.
Record Volumes this week indicate strong interest in market participants.
RSI is also given a breakout from a channel and now sustaining above 60 which confirms the strength.
My Observation: The only thing to ponder is the Daily RSI is at 79, and Goldiam has shown a continuous move of almost 20% in the last 4 days, so I must suggest
to deploy 50% position now and wait to cool off i.e. accumulate around 155-150 which is the breakout level.
Tata Motors Multi-Time frame analysisToday, we are going to discuss Tata Motors. I am seeing the huge potential for this stock. This could give more than 100% growth initially in the next bull run.
Multi-Time Frame analysis:--
(MONTHLY)
-trading in range
-every time it comes to the channel bottom boundary, buyers come in & every time it touches the channel upper boundary the sellers come in.
-this trend started in 2001 & got stuck in this by this day also.
-trend on the monthly time frame is still UP & currently, we are consolidating somewhere in between this up trend.
(WEEKLY & DAILY)
-now on weekly TF, if we draw a trend line (TL) connecting the lower high (LH) starting from February 2015, we have got our set up!!
-considering the up move started in 2020 we have also seen a good volume on uptrend and in consolidation, we have also seen below-average volume, which indicates a healthy up move in progress.
(ELLIOTT WAVE ANALYSIS)
-it looks like currently we are in wave 4 of an impulse, where wave 4 is still in construction.
-wave 1 has been completed @ approx 155, wave 2 got completed @ 122 level, and wave 3 was closed in extended mode @ 526 level.
-wave 4 is still in construction, and could close somewhere at 38% - 50% levels.
(WHEN TO BUY ?)
We will try to find a buying opportunity whenever this stock gives TL breakout with a good or more than an average volume.
INDEX WEEKLY UPDATE GLOBAL UPDATE:-
-all major market on friday rallied after us jobs data
-remember jobs data was bad
-but the important part was jobs created on lower wages
-wages and average earnings have fallen down
-plus the pmi data came negative
-rising jobs+falling wages was cheered by the market
-it indicates soft landing
-so now looking the charts on friday of us mkt clearly we see symmetrical pattern on index
-dxy+usd/inr+US-10y all fell majorly
-positives for banks today
-soft crude shall also help the market
INDIAN MARKETS
-we bearly were able to hold supports
-remember we are falling despecite of global markets rallying
-we have started seeing lower high formation on nifty index and banknifty index
-until this pattern of lower high formation is taken out we will fall and eventually break the low
-today we need to see follow through in buying
-a close above 18030-18120 will go a long way in helping
-note like i said in previous conversation other asian markets are now undervalued
-so fpi money moving out of india is inevitable
-fii sell figures are back
-its good they are selling and bring long/short exposure down
-only thing we have to do is defend the low
-today result season kicks off
NIFTY INDEX
-we had a crucial stop at 17770 as we were holding positional longs
-according to the data today rally can see selling pressure at higher levels
-but a clear trend will emerge sooner
-previous bottom:17770 current bottom:17795
-it seems like a double bottom pattern
-a break close above 18300 will ensure double bottom
-a break below 17770 will lead to break swing lower high and lower low formation
-i am still bullish until our final support breaks
-but will do positional sizing when market closes below 18300
-weekly chart we have inside bar pattern in nifty
-its important to watch closing data
BANKNIFTY INDEX
-banknifty index looking at daily chart defending the rising trendline
-pattern emerging is of a climax wedge top on daily chart
-a close below 41600 is a end game for longs in banknifty
-today banknifty will have support and will rally due to short-covering
-it remains to be seen if the rally sustains
-banknifty on downside if 41600 breaks exit longs for good
-on the upside a close above 42800-43000 is needed to reach a climax top
-again like nifty inside bar in weekly chart
HDFC LTD- Super Bullish above 2650. Entry on 30th Nov
HDFC Ltd - Go long on 30th Nov if the price closes above 2650. The stock will be unstoppable.
SL below 2640 Weekly close.
DIVISLAB Channel formed |Head & shoulder |Time to "decide trend"
• As shown on chart DIVISLAB shows channel formation . Current red candle is showing respect to the channel's resistance trendline.
• Historical Support is there from 3350.10 to 3435.00 shown on chart. •Above 3981.90 Trend can be change with the formation of Higher High's (HH) and /Higher Low's (HL) .
• Chanel deciding the price.
• Head and shoulder Pattern : Let decide the trend as we can see head and shoulder on bigger timeframe, therefore , 3981.90 We can consider it as a Flip level , otherwise downside fall can increase.
• History can repeat : choose the trend.