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AUDUSD stays bearish unless crossing 0.6950AUDUSD braces for the first monthly loss in four despite Friday’s rebound from the 61.8% Fibonacci retracement of its December 2022 to early February highs. A clear downside break of the two-month-old ascending trend line joins a two-week-old descending trend line to favor sellers. Adding strength to the bearish bias are the downbeat oscillators. The corrective bounce, however, could become important if it manages to cross the convergence of the previous support line and an immediate downward-sloping resistance line, close to 0.6950. Following that, the 100-SMA surrounding 0.6985 and the 0.7000 psychological magnet could act as the final defense of the Aussie bears before giving control to the bulls. Alternatively, the aforementioned 61.8% Fibonacci retracement level around 0.6830, also known as the golden Fibonacci ratio, puts a floor under the short-term AUDUSD downside. Following that, the 78.6% Fibonacci ratio near 0.6750 may act as an extra filter towards the south. In a case where the Aussie pair remains bearish past 0.6750, the December 2022 low near 0.6630 could lure the sellers. Overall, AUDUSD’s corrective bounce, if any, remains elusive unless crossing the 0.6950 hurdle.
by MTradingGlobal
EURUSD buyers need validation from 1.0100 and FedDespite retreating from the 100-DMA during the last week, EURUSD defends the upside break of the 50-DMA and five-month-old descending trend line as traders await the Fed’s verdict on Wednesday. The major currency pair’s latest rebound also gains support from the firmer oscillators. As a result, bulls are hopeful of overcoming the 100-DMA hurdle surrounding 1.0070. Even so, the previous monthly top surrounding 1.0095 and the 1.0100 hurdle could test the upside momentum before giving control to buyers. In that case, a run-up towards the horizontal resistance area comprising multiple levels marked since May 12, close to 1.0360, appears more likely to follow. Meanwhile, a downside break of the resistance-turned-support and the 50-DMA, surrounding 0.9880, could quickly drag EURUSD towards a five-week-long support line near 0.9780. Should the quote break the nearby trend line support, the 0.9670-60 support region will gain the bear’s attention before targeting the yearly low near 0.9535. Overall, EURUSD is up for reversing the downward trajectory established in June. However, it all depends upon how well the Federal Reserve policymakers can convince markets of their dovish hike.
by MTradingGlobal
Weekly resistance test gold buyers ahead of ECB, US GDPGold extends the bounce off monthly support while picking up the bids near $1,801 during the early Thursday. In doing so, the yellow metal pokes a one-week-old descending resistance line inside a one-month-long rising channel bullish formation. Also keeping the gold buyers hopeful is the quote’s sustained trading beyond 200-SMA and firmer oscillators. Hence, the commodity is likely to overcome the immediate hurdle surrounding $1,801 to aim for 78.6% Fibonacci retracement of September’s fall, near $1,810. It should be noted, however, that the stated channel’s resistance line and the last month’s top, respectively around $1,830 and $1,834 will probe the bulls afterward. Meanwhile, risk-off mood post the US GDP and ECB outcomes could direct the gold sellers towards challenging the bullish chart pattern by hammering $1,787 support. Should prices remain weak past $1,787, the 200-SMA level of $1,770 may probe the bears. It’s worth noting that multiple supports around $1,750, comprising 23.6% Fibonacci retracement level, will challenge the further downside before eyeing the last month’s bottom close to $1,721. To sum up, gold has a smooth run-up on the north but the fears of tighter monetary policy poke the bulls.
OANDA:XAUUSD
by MTradingGlobal
SBI Monthly- Strong Downtrend ahead.Once the target of ~ Rs 340 in this November month reaches, expect a downside trend with a sideway range trade(Rs 250 to Rs 315)and further if the momentum continues, maximum fall around Rs 212. Upcoming trend reversal gets confirmed by confluence of MacD+RSI+Stochastic oscillators. On chart look at sellers queue at Red Trend Lines and buyers queue at Green Trend Lines . The middle White trend line(Rs 280) is going to the pivot point. Happy Investing!
NSE:SBINShort
by harshv61
DPL: Long Entry Observation Candle Pattern: Inverted Hammer in Last three consecutive days. (Technically Treat as Bullish Reversal) Observed Divergence in some of the technical indicators & oscillators. (RSI, CCI, W%R etc.) Hurdle levels @ 116 - @ 118. Once closed above @ 118 with Volume Strong UP move. Witnessing Strong Volume in Last trading session. Good Dividend Paying Company. Last Div Rs'. 3.50 on 02 Aig 2018. (More than Interest of SB A/C in PSU's) ...... levels mentioned on chart. Education purpose only.
DLong
by DSKF16
NIFTY: What's NEXT? Spot & FUT important Level Weekly BasisSome Fact: #1. Candle Pattern: Spinning Top on the daily chart => Means that Bulls are not loosening their ground but Bears are putting pressure at higher levels. #2. Negative Advance-Decline Ratio for the third session in a row accompanied with sell signal on twin momentum oscillators. and the fact that market registered a positive close for 7th day in a row can be a cause for concern and may be pointing towards a Correction or Temporary Ppause of the ongoing upmove, #3. India VIX fell down by 2.88 percent at 14.14. VIX has to Cool down to extend its Positive momentum. #4. OPTION Data: Maximum Put OI is placed at 10300 followed by 10200 strikes On the other hand Maximum Call OI is placed at 10500 followed by 10700 strikes. #5. Tag of War: Significant Put writing at 10500 and 10400 strikes => Shifting its SUPPORT to Higher Side while intact Call writing at 10500 strikes is Restricting its UPside Momentum. Levels plotted on chart. Analyze my early post "NIFTY: Some Fact & View ........", what i am saying. Trade as per Specified level with description. FUTURE Trader Should take position with Hedge strategy. Disclosure: Information shared here can be my view or real trades. As i am not SEBI regd. analyst, Take this information as study/education purpose only. If Useful Like & Share For taking trade decision Consult with financial Advisor. N.B: View may Changed or Reversed if Major NEWS came before Monday Market Opening.
NSE:NIFTY
by DSKF16
CESC: Lightening Ahead - Result Series.CESC : Lightening Ahead - Result Series . Reason for LONG: #1. TENKAN SEN (@ 884.95) & KIJUN SEN (@ 881.15) Bullish Cross OVER #2. HIGH & CLOSE Above KUMO Cloud #3. Crossed GANN Arch 3 X 1 #4. Crossed GANN Line 4 X 1 with Volume. #5. Closed Above FIB Retracement 50% (Recent H-L ). SUPPORTIVE BREAKOUT ALSO FROM TECHNICAL INDICATORS & OSCILLATORS. Go LONG: +0.50 to -0.5% of CLOSE. Best LONG: @ 897 to @ 900 STRONG Bounce Zone @ 889 too @ 884 For Intraday / Swing TARGET: @ 911.60, @ 913.5, @ 916.70 - @ 919 (HZ), @ 925+ More TARGET Levels on Chart . SL: Below @ 875 (By Closing) More Updates Later. FnO Strategy : On QUERY . If enriched your knowledge and would help you in trading, Please don't forget to Hit / Click Like button . Your likes motivate me to post better ideas in future. Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
NSE:CESCLong
by DSKF16
1
TECHNICAL TRADING CLASS 1Technical traders use unusual options activity as a signal to identify potential trading opportunities. They analyze the options data to determine whether there is a significant change in demand for a particular underlying asset and whether this is likely to result in a price movement. The Relative Strength Index (RSI) Moving Average Convergence Divergence (MACD) Indicator. The Stochastic Oscillator. Fibonacci Retracement. Parabolic SAR. Screener Plus. Thinkorswim. Slope of Hope.
NSE:BANKNIFTYLong
by SkyTradingZone
Useful Indicators for Future TradingIn futures trading, choosing the correct indicators can mean the difference between making a profit or a loss. Indicators are very important as they assist traders in monitoring market conditions and forecasting future price movements. In this article, we will cover the most useful indicators that are used while trading in the futures market. What is Futures Trading? Futures are financial derivatives that obligate parties to buy or sell an underlying asset at a predetermined price and date in the future. Regardless of the market price at the contract’s expiration, the buyer or seller must transact at the agreed-upon price. These contracts can involve physical commodities or various financial instruments. Futures contracts are standardized, specifying the asset’s quantity and making trading more straightforward. They can be utilized for both speculative trading and hedging. Unlike forward contracts, which are customized and traded over-the-counter (OTC), futures contracts are standardized and have uniform terms for all participants. This ensures consistency in futures trading, regardless of the counterparties involved. Best Indicators for Future Trading Future trading can be enhanced simply by using the correct indicators as part of the trading strategy. In futures trading, here are some of the helpful indicators: 1. Moving Averages (MA) Moving averages (MA) is an indicator used to filter price data and determine trends by computing average prices over a period. The simple moving average (SMA) is defined as the average value that takes up certain fixed periods yielding a smooth trendline. The moving average of the same value where current prices are taken into account primarily compared to historical prices is known as the Exponential moving average (EMA). These two types also assist in determining the possible points of entry or exit when the average line is crossed by the price. 2. Relative Strength Index (RSI) RSI is a momentum oscillator that gauges the speed and change of price movements in a market. It ranges from 0 to 100, typically with 70 indicating an overbought condition and 30 signaling an oversold state. An RSI above 70 suggests that a security may be overvalued and could experience a price pullback, while an RSI below 30 points to a potential undervaluation, signaling a possible price increase. Traders use RSI to identify potential buy or sell opportunities based on these extreme values, helping to forecast possible trend reversals for futures contracts. 3. MACD (Moving Average Convergence Divergence) This trend-following momentum indicator illustrates the relationship between two moving averages of a security's price. The MACD (Moving Average Convergence Divergence) consists of the MACD line, which is the difference between the 12-day and 26-day EMAs, and the signal line, which is the 9-day EMA of the MACD line. When the MACD line crosses above the signal line, it suggests a potential buy signal, indicating upward momentum. Conversely, when it crosses below, it may signal a sell opportunity, indicating downward momentum. This indicator assists futures traders in spotting potential trend reversals and uncovering trading opportunities. 4. Bollinger Bands These consist of a middle band (SMA) and two outer bands that are standard deviations away from the middle band. Prices touching the outer bands may signal overbought or oversold conditions. The bands expand and contract based on market volatility: wider bands indicate higher volatility, while narrower bands suggest lower volatility. When prices move outside the bands, it may indicate an upcoming reversal or continuation of the trend. Traders use Bollinger Bands to identify potential buy or sell opportunities for futures contracts, especially when prices revert to the middle band after touching the outer bands. 5. Fibonacci Retracement Fibonacci Retracement is a tool that helps identify possible support and resistance levels by applying the Fibonacci sequence. Traders plot horizontal lines at key Fibonacci levels—23.6%, 38.2%, 50%, 61.8%, and 78.6%—which are derived from the sequence. These levels are considered crucial as they represent potential reversal points where the price might bounce or reverse direction. By analyzing how prices react around these levels, traders can make informed predictions about future price movements and adjust their strategies accordingly. Fibonacci retracement helps in setting target prices and stop-loss levels, enhancing trading decisions. 6. Stochastic Oscillator The Stochastic Oscillator is a momentum indicator that compares a security's closing price to its price range over a specific period, typically 14 days. It generates values between 0 and 100, indicating overbought or oversold conditions. When the Stochastic Oscillator is above 80, it suggests that the security may be overbought, signaling a potential sell opportunity. On the other hand, values below 20 indicate that the security may be oversold, which could present a buying opportunity. The indicator helps traders identify potential reversal points by comparing current prices to historical price ranges, making it useful for spotting trends and market momentum while trading in futures. Conclusion Using the right tools in future trading can greatly enhance your decision-making and overall success. Combining different indicators allows you to analyze trends, spot opportunities, and manage risks more effectively. Keep refining your approach and stay adaptable to market changes to achieve the best outcomes.
NSE:BANKNIFTYU2024
by Dhan
Some bounce expected.Clear divergence between price and oscillator. This is four hourly chart. stochiastic is in overslod condition. It is not essential that divergence only confirms buying immediately. The on going wave is C wave..which should consists on five waves, In daily time frame it is not visible. we will check hourly chart later.22137 is important level. As long it holds that bouncing to 22349,and there after 22427 is possible. how ever if it is unable to sustain above 22137 next down side level 22011 will be opened up. if this post helps you like this post .follow me to get updates.
NSE:NIFTY
by bijoy2526
5
A complete turn aroundFib Analysis- every pull back is supported at 50 to 38.2% . Its an indication of strength. RSI- look at the history it was oscillating between 30-65 which is the bear range of the oscillator. Now the oscillation has changed. It is taking higher support is yet another indication of strength. Volume- the tower on the 3day chart is an indication of retail entering in large numbers. The stock generally gives a significant whenever retail enters in large number. Now the volume has come down significantly and hence the stage is set.
NSE:UCOBANKLong
by singh17vivek
BALAJI AMINES LONG-TERM INVESTMENT OPPORTUNITYBALAJI AMINES LONG-TERM INVESTMENT OPPORTUNITY Hello traders! Key points: Weekly chart study 🎯The Falling Wedge pattern is complete, and the share price is ready to move up. 🎯It appears that a double bottom has formed, the stock has made a lower low, and now the price is ready to move higher. 🎯The price seems to be getting support on the weekly chart. 🎯A bullish crossover has formed on the MACD oscillator. 🎯Volume remains bullish, indicating the share price is ready to move up. Major Level: Support Price Level: 2002.25 Resistance Price Level: 2797.70 Entrance Area: The optimal entry offers the greatest reward-to-risk ratio, while the optimal entry is an area for reversal signals. Optimum Entry Nearby, - 2002 Stop loss: the weekly candle closes below 2002.25. Target Price 1st: - 2546.95 Target Price 2nd: - 3844 Risk: As traders, it is your job to minimize risk and only choose trade structures that offer high probability and a great reward-to-risk ratio. If uncomfortable with defined exit levels, experiment with support levels to help set solid exit rules to protect your capital. If the weekly candle closes below the price level of 2002, this suggests that the structure is not in our favor, and it would be wise to reduce risk or close the trade until a solid signal gives us a reason to re-enter.
NSE:BALAMINESLong
by ramumaurya