MCX Gold has rallied one way from 62000 to 66000 in last 8 days without any major retracements.
This sharp up move can not sustain without a good retracement.
Dollar Index is also trading at a major support zone of 102.500 so there's very high chance that we might see a correction very soon.
Here's a trading opportunity.
GOLD CMP - 65950
I'm taking short...
On day chart
I see the support around $2.4
On 4h TF
After OP breakdown $2.9 it made another structure from up to down if OP close below swing low $2.615 so need to wait for confirmation
OP has resistance around $3.25 and strong support around $2.4 this level is target for short position
Time will tell
The EUR/USD pair is currently trading around 1.0970, facing slight losses in the early European session after pulling back from a four-month high of 1.1017. Traders are awaiting inflation data from Italy, France, and the Eurozone, with the Eurozone Harmonized Index of Consumer Prices (HICP) expected to show a 3.9% YoY growth in November.
From a technical...
Gold price struggles to make any significant progress on Tuesday and trades within a narrow range, just above the $1,920 level during the Asian session. The XAU/USD pair remains close to a three-month low reached last Friday and could potentially drop below the 100-day Simple Moving Average (SMA).
The upside for Gold price is limited by the hawkish stance of...
ENTRY TARGET SL Mention in the chart.
ALWAYS TAKE TRADE WITH CONFIRMATION
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
Bank of America Corporation Analysis on Daily Timeframe!
Bearish Flag and Pole Pattern Formation in BAC
Flag Breakdown in BAC
Bank of America Corporation made Bearish Flag and Pole pattern. We can see the sharp fall in Bank of America Corporation after price made a flag and moving inside the flag. The price given a breakdown to the flag support and able to...
in my previous analysis, i have mentioned that BTC is testing important resistance zone. and Yes, BTC was rejected from 30600 levels and now trading around 26500. It was my stop loss point in the analysis.
But Now, BTC is looking bullish as pattern in 1 Day chart indicating towards the Elliot Wave Pattern. But also BTC is testing 100 MA support levels in a...
As per my Analysis, EURINR is facing strong resistance at level inbetween 90.37-90.62,there could be a reversal from this resistance level, as a positional trader this could be a best opportunity to go short in EURINR either you can wait to reach near marked resistance or trendline resistance then you may go short.
also keep tracing 50SMA to get better...
SHORT TATA STEEL LTD
CMP - Rs. 107
Target - 1: Rs. 85
Target - 2: Rs. 72
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Bearish Flag BO on the weekly chart
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Maximum Returns - 33%
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This is just a view, please trade at your own risk.
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SHORT POSITION - KARUR VYSYA BANK
CMP - Rs. 99
Target - 1: Rs. 67
Target - 2: Rs. 41
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Technicals - 1) Bullish Bat and Navarro 200 Harmonic Pattern.
2) Targets set using Fibonacci Retracements.
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EUR/USD is coming near to the supply zone. I have marked the Short Position, Stop Loss And Take Profit.
Disclaimer: This post is for informational purpose only. This post is not trading or investment advice! Financial markets are inherently risky. Manage your position size carefully and please honour your risk management. You will be responsible for your trade...
🔴DISCLAIMER
***** It's just for an educational purpose, So you must also follow your own technical analysis before taking up the trades ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
Hello Everyone,
Yesterday, I shared NIFTY IT chart which looked bearish and today, everyone had seen the fall. TCS has new 52 week low.
I am sharing one of the IT Stocks today as well which has bigger chances of falling down in the upcoming days.
"BIRLASOFT"
If you look at the daily timeframe of this stock, clearly you can see CUP&HANDLE Pattern.
Bearish...
