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Elliotical Approach to US30 Short.Hello traders! 1. We see a 5-wave descent of US30 market. This is the beginning of the downtrend that has been expected since our first analysis on 9th January . Ideas attached. 2. The invalidation level is very far. If someone hasn't taken the initial trade on 16th January, best wait for a trade with a better risk reward. Those already in this trade since 16th Jaunuary could risk some for a larger profit. Extensive risk management advised as the protective stop will be very far. 3. At present, there are two variations in count that seem possible. The ABC correction that we see can be wave A of Wave (i) or Wave (ii) itself. More unfolding of the markets required. 4. We have an important resistance zone at 33400-33500 . 5. There is a 38.2 percent retracement level. 6. Even though the market is bearish, we can expect a longer, more complex correction because the market has shown a quick fall of over 1300 points. But, at the same time, not a very deep correction as the bulls have already pushed the market enough for a long time now. 7. Use of Elliotically correct protective stops is advised. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
OANDA:US30USDShort
by UnknownUnicorn27677748
Nifty Selling at Supply areaNifty has a trend line resistance and a higher timeframe supply nearby. Aggressive entry will be shorting at 18200 with a stop loss of 60 points i.e., 18260 Another reason for shorting is Nifty gave an up move of almost 240 points and I'm expecting a correction at this point. Even if it takes stop losses can try to enter the trade once it gives downside confirmation. Short entry:18200 Stop loss: 18260 An ATM option will have approximately 15 rs per lot risk. Plan your trade according to your risk. Managing the trade: If the trade goes in our way *Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost *Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL. *Exit remaining with trailing Stop loss. *SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY. *NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES ***If you like my analysis let me know by a giving boost or a comment. I will be updating it.
NSE:NIFTYShort
by Mo-Kri
1
Short - Long Term Trendline Break & Didn't Cross ResistanceFive reasons, why you should short BankNifty ? 1. Break of long term trend line (Black color) on 10th Jan 2. It failed to show any strength today and didn't cross the short term trend line acting as resistance (purple), forget about the maroon line resistance 3. Last three candles have lower lows and lower high formation 4. It failed to cross 50 days EMA and now that is acting as resistance 5. In early hours, it also break the support of 41800 Disclaimer I am not SEBI registered investment advisor, please trade at your own risk.
NSE:BANKNIFTYShort
by trademanthan
SIEMENS Ready for a Sharp CORRECTION MOVE ??!!!Chart patterns poise way for the above titled opinion Reasons 1. SIEMENS travelling in a Ascending channel (From 2019)(Bright red & green lines shown in chart). 2. Now, it seems ready for the downswing (white trendline descending channel shown in chart) inside the Ascending channel. 3. Rounding top too confirming the chances of down move . 4. GAP b/w 6th & 7th December is acting as Support. Entry can be made after the yellow trendline gets broken.(Keeping the high of the breakdown candle as SL) FIB 0.5 can act as support in downside(1st target)- 2645 Safe SL mentioned @ chart.(IF WE ENTER NOW) Let's wait & watch how it moves!!!! Note - Just Sharing my view...not a tip nor advice!!!
NSE:SIEMENSShort
by mmjimm
BANKNIFTY BREAKDOWN OF INVERTED CUP & HANDLE ??!!!Chart Pattern depicts the situation clearly. 1. BankNifty travelling in a Descending channel(bright red and green lines shown in chart) 2. Inverted cup & handle formed and given a Neckline Breakdown with good volume!!! (and low too got tested) 3. Target can be 0.5 Fib support down ! !(as the depth of the cup measured) 4. 1hr closing above 42200 can fail the pattern and be our SL!! Nifty too in formation of same pattern but not given breakdown!!!and it needs to close below 17800 for this same breakdown!! Let's see how it moves!!! Note: Just sharing my view....not a tip nor advice!!!!!
NSE:BANKNIFTYShort
by mmjimm