Symmetrical Triangle Pattern is seen in USD/JPY hourly chart. we can go long if price breakout above the resistance with strong bullish candle. or else we can go short if price breakdown below support with strong bearish candle.
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Short Video on Bank Nifty - The last move or idea for year 2022.
Last Price - 43115
Trading Strategy
Plan A - Important Support Zone 42900-43000
Index taking support...
Levels as mentioned on the chart
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Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
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Chart patterns insist me the above titled opinion.
Reasons
1. Muthoot finance has been travelling in a expanding triangle pattern from 2015.
2. Till now, its respecting the pattern by taking support and resistance at perfect levels.
3. Currently it is in downswing inside the pattern.
4. It may take take support at the Major support (GRENN LINE 800 LEVEL )...
Gold buyers appear to run out of steam as traders await the key advance US GDP for Q4 2022, following the five-week uptrend. A one-month-old rising wedge formation joins recently sluggish oscillators to tease the metal sellers. However, a clear downside break of the $1,917 support appears necessary to confirm the bearish chart pattern, which signals a theoretical...
Powergrid is near the resistance zone, the price is making higher high while the RSI is flat this is clear sign of RSI Bearish Divergence.
Entry
We can go short when price make strong bearish candle near the resistance zone.
Stoploss
Stoploss above the resistance zone.
Target
Target will be the next nearest support zone.
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✔Gold was holding 50200 since mid of May. It held this level at three occasions (see chart) but finally broke it in the mid of September.
✔So, a lot of traders who bought at 50200 support, with stop loss underneath this level, were shaken out in this breakdown. Most would have reversed their positions to short. Gold revisited 50200 in a retest attempt and this...
Hi, I personally look for following scenarios while identifying potential tops and bottoms and it works most of the times.
For tops:
High volume bars with very little progress on the upside
Exceptionally wide bars with very high volume
For bottoms:
High volume bars with little progress on the downside
Exceptionally wide bars with very high volume
This...
