Technical
NZDUSD AnalysisMy Technical Analysis
1. Bullish on weekly timeframe.
2. Broke down trendline on daily tf, hence buy bias.
3. Supported by the 50 EMA on 4h tf.
4. Nicely Rejected by the previous higher high and wick is near the 50 period ema on 1H tf.
5. Trendline break on 5min tf with a bullish engulfing candle.
RISK REWARD RATIO - 1 : 6.66
Guys, I just wanna say that if this (almost) impossible trade idea is a win then I deserve a Gold Medal for this XD.
I know by the time I finish typing this the trade might have progressed quite a bit but I'll try to figure it out for the next time.
Entry/Exit stuff
Entering on the Bullish engulfing candle that broke the down trendline on 5min tf - Stop loss below the swing low - Profit Target is on the weekly tf resistance line
About Myself
Hello Traders,
My name is Sid. A New trader in market, started 6 months ago, did a price action / technical analysis course recently and now I'm here to practice and test my skills in real time. I'll be sharing my analysis and my ideas on many forex pairs here. Would appreciate your support (like, share, comment, etc.) and I'll see you on the next episode of Drag.... I mean "REAL TIME TRADER" (still thinking of a gud name, plz recommend some)
See ya.
WIPRO LTD | Bullish Flag FormationTarget: 432, 460
CMP: 410.50
It can be clearly seen in the daily chart that the price has been in a falling channel and has taken a support at the lower end of the channel, this can be confirmed by the presence of a doji candle. Now, the price is headed towards the upper band of the channel(432), if it breaks the level and sustains, then we can expect to see a target of 460.
💡Don't miss the great buy opportunity in Gold (XAUUSD)Trading suggestion:
. There is a possibility of temporary retracement to the suggested support line (1680.40).
. If so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CROUSDT is in an uptrend, and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 1770.00
TP2= @ 1829.00
TP3= @ 1923.00
TP4= @ 2000.00
TP5= @ 2074.00
SL= Break below S2
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March 15-17 could be the breakout periodClearly this is heading in the breakout triangle whether it is up or down shall be decided during the March 15-17th 2021.
If it breaks out on upper side over 560 should happen and if it breaks down below 230 should be support zone..
Trade with caution.. this is purely for educational purpose and not financial advise.