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GBPUSD stays inside bullish set-up on BOE Super ThursdayAfter cheering the Fed-led run-up the previous day, GBPUSD bulls catch a breather below a three-week-old resistance line. However, a confluence of 50-day SMA and yearly support line, coupled with upbeat oscillators signals the pair’s further upside past-1.3990 immediate hurdle. Additionally, wide expectations of the BOE’s disappointment contrast Governor Andrew Bailey’s ability to surprise the market, which in turn adds strength to the bullish bias. Though, a clear break of the 1.4000 threshold will become necessary for the GBPUSD buyers before eyeing the previous month’s top, also the highest since April 2018, around 1.4240.
Alternatively, downside moves will not only need to break the 1.3810 support confluence but also an ascending trend line from September 23, currently around 1.3675, to recall the GBPUSD bears. Following that, lows marked during February and January, respectively near 1.3560 and 1.3450, will be the key to watch. Hence, GBPUSD bulls can ignore losses unless breaking the 1.3675 level, which requires an extremely dovish BOE that is out of course for now.
MarketMonster-A - All in one trading indicator MarketMonster-A is an EMA ribbon comprised of 8 EMAs that are blue/white during a bull market and gray during a bear market. The intersections of these lines can be very strong lagging indications, so we have programmed MarketMonster A to project symbols which correspond to various indications so you don’t have to manually interpret each bullish or bearish cross. It also gives a great visual of the trend, supplying you with strong mathematical support or resistance. MarketMonster-A was made to easily analyze, isolate, and anticipate macro trends.
Key Features:
* EMA Ribbons
* Symbolic Guidance
* Helps you identify and understand your trading environment
* Recommend Candles: Heiken Ashi.
MARKET MONSTER IS THE ALL-IN-ONE MOST PROVEN SET OF TRADING INSTRUMENTS FOR TRADERS Market Monster combines over 30 years of trading experience and dozens of indicators into one comprehensive package. It is the single best, most versatile indicator specially designed for Bitcoin but usable in all financial markets. The Market Monster does the majority of the leg work in interpreting the data, spitting out various symbols which will guide your trading. Not only will the Market Cipher give you strong hands in a volatile market, it will also call every top and bottom and warn you of price traps. Whether you prefer oscillators, support and resistance lines, or examining moving averages, the Market Cipher caters to all styles of trading while interpreting all of the data for you.
COMPLETE BTC ANALYSISHello everyone!
I will express my sentiment towards BTC / USDT in longer graphical times due to the level of reliability. Reminding everyone that analysis is not financial advice, but what I think about the asset. You are solely responsible for your profits and losses, so never invest any amount in an operation that you are not willing to lose.
Well then.
As can be seen from the weekly chart, BTC, when breaking the LTB (red line), started wave 1 of Elliot, in the region of $ 9.8k, extending up to the average price of $ 19k. There was a decrease in the price of the asset represented by wave 2 of Elliot, between the region of 0.236% -0.382% of the Fibo retraction, which averaged $ 15.9K.
Therefore, Elliot wave 3 (propulsion wave) began, which, incredibly, hit exactly the region of 2,272% of the Fibo extension, with an average price in the region of $ 34.9K, which coincides exactly at the top of the channel (blue), easily seen in the chart above.
Apparently, the recent fall of the asset is due to several factors, among them the lack of BTC in the exchange to purchase the asset in large volume (believe it, there is), extension of wave 3, indicators and oscillators in levels very high and even by the mathematical rule of the pivot formation market for the price movement. Withdrawals are always expected and this is normal!
In my view, we are, at the moment, on the most difficult and complex wave of all: the Elliot 4 retraction wave. The big secret is to know to what extent your retraction occurs.
We must take into account, initially, two aspects: a) when wave 2 is complex, wave 4 will not be; b) when the wave e is not complex, the 4 will be. But, after all, what is the complexity of a wave? It happens when the wave can go to the bottom, return to the top of wave 3 (if we have wave 4) or wave 1 (if we have wave 2) and return to the bottom again, several times. This characteristic is characteristic of retraction waves 2 and 4.
However, sometimes, the general rule is often not seen in practice, in situations where the asset is very agitated, the correction can be minimal and even there is no complexity. Therefore, the theory is relativized in practice.
Until the time of this posting, both on the daily and weekly charts, we will only know if wave 4 of Elliot will be complex on the chart when the price hits the top of wave 3 or if the price again goes deep in the region of 28.2k or even less , as long as it does not exceed Elliot wave 1. Elliot's wave 4 never invades wave 1!
That said, let's go to the bullish channel defined in the chart.
In the middle of the high channel, a dashed line is visible. It is very important that wave 4, if defined as complex due to the price action in the next candlesticks, do not miss the $ 24.5K region, which is exactly where this dashed line exists. It is important that bitcoin continues to make tops and bottoms at the top of the bullish channel, as if it goes down, the asset may seek new fund and become weakened. Care should be taken with regard to this analysis, as the scenario may worsen if this occurs.
In the end, I traced $ 40.6k as the final price as the end of wave 5, however, the allusive wave may hit larger Fibo targets depending on the buying force and how the media will report asset growth. It is a good time to make entries and exits manually.
Use stoploss according to your risk management. I use loud stoploss due to the manipulation of the big players in this market, but this is very personal. Do only according to what you are willing to lose.
Considering the weekly graphical time of the analysis, the reliability is higher, however the study may take days to consolidate. It is a swing trade.
I hope I helped everyone.
Success!
UBL - VIEWBUY BASED ON (disclaimer - for study purpose only)
GARTLEY BEARISH PATTERN COMPLETION
BUY FOR TARGET 1245+, 1188 CAN BE IN BTW RESISTANCE
WITH STOP AS COMFORT
SUPPORTING FACTORS FOR BUY :->>>
***CONSISTENT VOLUME SUPPORT
***weekly oscillators neutral but strong buy support in daily frame
***weekly close above 200ma can give support
COLPAL VIEW - CONTINUATION 🎯🎯🎯IN MY PREVIOUS SHARED IDEA
WE COULD CATCH THE MOVE FROM 1535 TILL 1560 WHICH WAS THE TARGET LEVEL GIVEN
FOR NOW IT HAS MOVED BEYOND TARGET LEVEL
CMP @ 1570 +++
WHAT NOW FROM HERE ???
PERSONAL VIEW:-
ON DAILY CHART, SCRIPT IS RUNNING @ TOP OF A TREND LINE
WHICH HAS BEEN TESTED MANY TIMES AND NOT BREACHED SINCE MAY'20
LOOKING @ THE CURRENT MOMENTUM THERE CAN BE A POSSIBILITY TO BREAK THE TREND LINE
AND GO FURTHER UP OR A DIP BACK TO OLD ENTRY LEVEL
POINTS TO BE CONSIDERED :-
>>> LOOKING @ MOVING AVG'S - SCRIPT IS FAR AWAY FROM 20, 50, 200 MA - BREAKOUT FAR AWAY HAS MORE STRENGTH
>>> VOLUME PART AS OF NOW HAS THOUGH NOT BEEN GREAT WHICH CUD HAD BEEN A GREAT FACTOR
>>> OSCILLATORS OVERALL ARE NEUTRAL
PIVOT LEVEL SUGGESTION :>
RESISTANCE 1 = 1570
RESISTANCE 2 = 1625
RESISTANCE 3 = 1745
PIVOT = 1522
SUPPORT 1 = 1460
SUPPORT 2 = 1410
SUPPORT 3 = 1300
TRADE SUGGESTION :-
* BUY ON BREAKOUT KEEPING ABOVE PIVOTS IN MIND
* WAIT FOR A DIP BACK TO 1520-1535 TO ENTER
***DISCLAIMER - FOR STUDY PURPOSE ONLY***
BELOW IS OLD IDEA POSE FOR REFERENCE >>>>>
Bank Nifty Trading Strategy for next week 28th Sep - 1st Oct#banknifty view for next week 28th Sep - 1st Oct
On 22nd May, BN started the move from 17,105 and took 101 days to reach 25,232 on 31st Aug, an up move of 8115 points.
From 31st Aug to 24th Sep, BN corrected by 4827 points (corrected more than 61.8%) in a matter of 25 days.
Banknifty has broken the uptrend channel around 21,750 levels and also broke the last major support of 21,000 during this fall.
All the momentum oscillators have gone into the oversold regions and today's bounce was more in line as expected.
During this fall, it has completed two downsize targets of 21,047 & 20,468, and the rest of the downside targets are still open
20,061 / 19,654 / 19,151 / 18,338.
Their needs to have some time or price correction to happen before the next round of fall, the upside extends up to 21,400 / 21,600 / 21,750 and can even extend up to 22,127.
The trend remains bearish and trend reversal starts only above 22,200 levels.
Trading Strategy:- During the initial part of the week, use dips to go long for pullback trades, but the ultimate trade is to open fresh positional short at higher levels for much lower targets.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
MGL Cup and handle breakout nearFormation of powerful Cup and Handle pattern. May result in a breakout Soon.
Target -950 then 1030
Keep Stop Loss at Trendline during a breakout.
oscillators are also sending conducive signals for the coming sessions.
All the best.
Disclaimer
You must be aware of the risks and be willing to accept them in order to trade or invest in markets. Don't trade with money you can't afford to lose. The past performance of any trading system or methodology is not necessarily indicative of future results. It's only for educational purpose. Use your own analysis or contact your financial advisor.
'Alert' For Adani Green All the moving averages and EMA's are equal,
but why the chaikin oscillator, the most accurate divergence oscillator in market,
is show 'strong sell'?????
As you can see in the chart,the price is rising, and Ema's are also showing buy signals,
but why the Chaikin showed a sudden down movement?
the money flow Indicator is also overbought and showing sell signals.
I think the stock will soon show a trend reversal.
like this if you think this helpful
if you know the answer about the trend reversal please type in the comments below.
thank you.....
Bullish Reverse Divergence Appears . Lets See What happens NextKotak is making Higher Lows While a combo of Several Oscillators are making Lower Lows . So A hidden BUT Powerful Divergence is Spotted here . I have invested a very small amount.. A few Candles and Volumes will guide us Tomorrow Morning.
BANK NIFTY violates Friday's lowtouches wl2 and retraces.
divergence seen between price and oscillator but oscillator not in over bought condition.
it well below 20 dma.
towards the end buying action observed in bank nifty .
if it violates today's low selling can be initiated for the next support zone .
at present I am neutral on it.
out come of agr likely to influence it along with telecom stocks.
don't forget to like my post.
follow me to get stock ideas.
NIFTYCHART LOOKS A BIT COMPLICATED BUT THERE IS LOT TO TELL HERE
1 - FIRST OF ALL ON WEEKLY CHART NIFTY FORM A HANGING MAN CANDLE WHICH IS A BEARISH SIGNAL ON TOP OF UPTREND
2 - NIFTY REMAINS IN CONGESTION PERIOD FOR 8-10 DAYS WHICH I RECON A DISTRIBUTION PHASE
3 - LAST WEEK VOLATILITY SUGGEST THERE IS CLIMAX OF DISTRIBUTION PHASE
4 - OPERATOR NEEDS TO EMPTY HIS WAREHOUSE AT THIS LEVEL SO NEEDS MORE BUYERS TO COME (WHO THINKS THE NIFTY CAN GO TO 11200 LEVEL FROM HERE)(MAYBE I M WRONG)
5 - VOLUME ON BEARISH CANDLES IN THIS CONGESTION PHASE IS VERY HIGH BUT THOSE ON BULLISH (LAST 2) COMPARATIVELY LOW
6 - PRICE SPREAD ON BEARISH CANDLES WHICH HAS HIGH VOLUME IS LOW THAN THE BULLISH CANDLE WHICH HAS AVERAGE VOLUE - ANOMALY
IT NEEDS EFFORT TO FILL THE GAP UPSIDE WHICH ISN'T THERE
5 - FOR MORE CONFIRMATION THERE IS DIVERGENCE ON THE OSCILLATORS
6 - CENTRAL PIVOT RANGE FOR COMING WEEK HAS THE SPREAD OF 102 POINTS WHICH MEANS THERE WILL BE LESS VOLATILITY THIS WEEK
THIS COULD BE A FAKE BREAK OUT ON 200 DMA
SO WAIT AND WATCH IS ALL WE CAN DO FOR NEXT FEW SESSIONS BUT DONT GO LONG NOW
Market OutlookMarket Outlook for Wednesday, 08/07/2020
On Tuesday after a gap up opening of 39 points at 10802, Nifty made a high of 10813 and due to selling pressure came down to 10689 and at end closed 36 points up at 10799 forming hanging man pattern at the top which has a bearish implication.
Oscillators – currently stochastic is quoting in a highly overbought zone at 93 while RSI at 71 signaling possible correction in the market.
Now on Wednesday if Nifty doesn’t cross its Tuesday’s high of 10813 and start coming down than expected to take support at 10738 to 10689 levels. If it breaks and sustains below 10689 than may enter into short-term correction and may come down to 10553 and below that 10473 levels where we may see buying in the market.
On the other side, if it crosses and sustains above its Wednesday’s high of 10813 then 10839 will act as the next major resistance where selling is expected, above 10839 it may continue its up move till 10924 levels.
#NIFTY50
Northbound Journey to begin in HPCLOn the daily chart stock gave breakout of Inverse Head and Shoulder pattern with volume. Stock is trading above the parabolic Sar and even the directional oscillators trading positive. Going forward we can see good upside momentum in the stock and stock can test 266-273 levels (19%-23% upside). Downside level of 204 (8%)is going to play a strong support for the stock.
BankNifty - Up trend is intact on charts, 21800 can be expected.Though the news flow (china border dispute) and global markets are not supportive, charts and indicators / oscillators are indicating continuation of uptrend.
Resistance and support levels are mentioned on the chart.
I generally don't trade nor recommend naked derivative positions, and find risk defined strategies or spreads / strangles more relevant for markets that have run enough.
A bull spread after it crosses 21470, utilising some near ATM strike and selling one or two 22500 call (depending your risk profile) can be considered.
20500 should be the stop loss, if you don't want to make any adjustments.
Experienced traders that can make adjustments in case market moves out of range can also consider selling 20500 puts.
Please carry due diligence, and consult your financial advisor before taking any leveraged position, trade keeping your risk profile in mind.
Usdinr late post same idea nothing changed.74.66, 75.22, 75.47 three higher lows breaking out from long consolidation pushing price extremely higher highs.
Reasons:
1. Nifty fall and gain
2. consolidation break out and pullback
3. bullish divergence on oscillators
4. Bullish structure.
POSITIONAL TRADE IN SUN PHARMAIN WEEKLY CHARTS SUN PHARMA IS IN CONSOLIDATION MODE BEFORE EXPECTED BREAKOUT(DAILY CHART ALSO SHOWING BULLISH RECTANGLE), ALL TECHNICAL INDICATORS AND OSCILLATORS SHOWING BUY FOR COMING WEEK AND MONTH.THERE IS INCREASE IN VOLUME FROM LAST FEW DAYS AS WELL, NIFTY PHARMA IS ALSO EXPECTED TO GO LONG AND IT WILL MAKE A STRONG CASE FOR SUN PHARMA TO FOLLOW SAME SINCE IT HAS MAXIMUM WEIGHT AGE IN NIFTY PHARMA. IN CASE OF A BIG DIP IN NIFTY 50, PHARMA STOCKS WILL RALLY AGAIN.