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Technical Analysis

1: 3 Risk to Reward - ORISSA MINERALSPrice is respecting the trendline from October 2023 and it breakout the Triangle at 18 June with huge volume. Now the price is retesting the former resistance line which turned into support now. Also, it seems price will form good Morning star by this weekend. We can expect it will go to 9000 Rs which is All Time High of this stock. Please like and share if you like this idea. Chart is Self Explanatory. I am not SEBI registered advisor and all Ideas posted by me are for Educational Purpose.
NSE:ORISSAMINELong
by Breakout_Spotter
USDCAD renews 13-week high ahead of BoC, US PMIUSDCAD rises for the sixth consecutive day while extending the early-week breakout of a downward-sloping resistance line from mid-April, now immediate support, as traders await the Bank of Canada (BoC) Interest Rate Decision. Apart from the trend line breakout and dovish expectations from the BoC, hopes of witnessing upbeat US S&P Global PMI for July and softer prices of Canada’s key export, namely Crude Oil, also propel the Loonie pair. However, the RSI (14) line approaches the overbought territory, which in turn highlights an 8.5-month-old descending trend line resistance surrounding 1.3815 as the key upside barrier for the bulls. Even if the quote manages to remain firmer past 1.3815, the yearly high of near 1.3845 and the early November 2023 swing top surrounding 1.3855 will act as additional hurdles for buyers before directing them toward the 2023 high of 1.3900 and then to the 1.4000 psychological magnet. Meanwhile, a hawkish surprise from the BoC and/or downbeat US data and strong crude oil prices might drag the USDCAD pair back toward the resistance-turned-support line surrounding 1.3750. It should be observed, however, that a convergence of the 50 and 21 SMAs, near 1.3685-80 by the press time, appears a tough nut to crack for the Loonie pair bears. In a case where the quote remains weak past 1.3680, the 61.8% Fibonacci ratio of the November-December 2023 downturn, around 1.3625, will precede the 200-SMA level of 1.3598 to act as the final defense of the bull before giving total control the sellers. Overall, the USDCAD is likely to extend the latest run-up toward the key upside hurdle. However, the quote’s rush to refresh the yearly peak needs some time and/or a strong catalyst.
by MTradingGlobal
Rising wedge confirmation, PBOC rate cut lure AUDUSD bearsAUDUSD drops to a three-week low early Monday while printing a six-day losing streak as the People’s Bank of China (PBoC) announced a surprise rate cut. The Chinese central bank’s action pushed the Aussie pair to confirm a 3.5-month-old rising wedge bearish chart formation. However, the 50-SMA support of 0.6670 challenges the sellers of late. That said, the bearish MACD signals and the rising wedge confirmation tease bears ahead of the US/Australia PMIs for July and the US Q2 GDP, not to forget the US Core PCE Price Index that is also known as the Fed’s favorite inflation gauge. Hence, a daily closing beneath 0.6670 appears necessary to convince the bears to target the 0.6600 threshold. Following that, the 200-SMA support of 0.6581 can test the downside momentum, along with downbeat RSI conditions, before allowing the sellers to aim for 0.6500 and 0.6400, as well as challenge the yearly peak surrounding 0.6360. On the flip side, the AUDUSD pair’s recovery remains elusive unless it stays beneath the aforementioned rising wedge’s lower line, now immediate resistance around the 0.6700 round figure. Following that, the 78.6% Fibonacci retracement of December 2023 to March 2024 upside, near 0.6765, and the monthly high of 0.6798 could test the buyers. It’s worth observing that the rejection of the bearish chart formation, by a daily closing beyond 0.6815, appears a strong signal for the Aussie bulls to challenge the yearly peak of 0.6839. Overall, AUDUSD appears ready to welcome the bears but a slew of top-tier data/events will be decisive to watch.
by MTradingGlobal
HFCL looking good; 100% ROI possible; take a lookFundamentally good stock, Good For short term investment in cash market'. Leave a " Like If you agree " .👍 . . Entry: 110 / 105 target: 115- 125- 150 - 195 sl: 95 major stoploss / support: 90 . . Enter only after breaking & close above " Yellow box" mentioned. ' ' Don't make complicated trade set-up.📈📉 Keep it " simple, focus on consistency💹 Refer our old ideas for accuracy rate🧑‍💻 Valuable comments are welcomed-✌️ . Refer old ideas attached below
NSE:HFCLLong
by TheNuraTrading
8
Gold extends pullback from all-time high towards sub-$2,400 zoneGold price remains pressured for the third consecutive day while extending the mid-week pullback from an all-time high. In doing so, the spot gold price (XAUUSD) retreats from a three-month-old ascending resistance line backed by the RSI’s U-turn from overbought territory. Apart from that, the US Dollar’s corrective bounce and receding bullish bias of the MACD signals also underpin odds favoring the bullion’s further profit booking. The same highlights a convergence of the 20-day Exponential Moving Average (EMA) and a three-week-long rising trend line, close to $2,395. It’s worth mentioning that the $2,400 threshold acts as immediate support while multiple peaks and troughs can challenge the sellers near $2,360 and $2,330-35. Above all, the precious metal bears remain off the table unless witnessing a daily closing beneath an ascending support line from early April, close to $2,300 by the press time. Also acting as the downside filter is the 100-EMA level of $2,296, a break of which will welcome bears with open arms. On the contrary, Gold buyers seek a clear upside break of the three-month-old horizontal support-turned-resistance surrounding $2,431-34 to retake control. Following that, the precious metal’s run-up toward May’s peak of $2,450 and then to the recent swing high near $2,484 can’t be ruled out. However, the RSI conditions and the aforementioned multi-day-old resistance line, at $2,486 as we write, might challenge the XAUUSD bulls past $2,484. Following that, the bullion will be able to pierce the $2,500 round figure. To sum up, further decline in the Gold price appears certain but the bullish trend is less likely to reverse.
OANDA:XAUUSD
by MTradingGlobal
Impending Golden Cross keeps EURUSD bulls hopeful ahead of ECBEURUSD retreats from the highest level in four months as traders await monetary policy announcements from the European Central Bank (ECB) early Thursday. In doing so, the Euro pair justifies the overbought RSI conditions. However, a successful break of a descending resistance line stretched from early January, now immediate support near 1.0890, joins the bullish MACD signals to keep the buyers hopeful. Even if the quote drops beneath 1.0890 resistance-turned-support, a convergence of the 50-SMA and 200-SMA, close to 1.0810-05, will be a tough nut to crack for the bears. It’s worth mentioning that the 50-SMA is approaching the 200-SMA from below and portrays a bullish moving average crossover called “Golden Cross”, which in turn suggests further upside of the major currency pair. Meanwhile, EURUSD bulls can aim for the 1.0980-1.1010 resistance zone during a fresh upside. Following that, 1.1040 and the 1.1100 threshold may act as intermediate halts while directing buyers toward the late 2023 peak of 1.1140. In a case where the Euro pair remains firmer past 1.1140, the odds of witnessing a run-up toward the previous yearly high of 1.1275 and then to the year 2022 top surrounding 1.1495 can’t be ruled out. Overall, EURUSD remains in the upward trajectory despite the pre-ECB pullback. However, the upside room appears limited unless the quote offers a daily closing beyond 1.1010. It should be observed that the ECB is likely to keep the monetary policy unchanged but bears are waiting for the signals of further rate cuts in 2024.
by MTradingGlobal
GBPUSD bulls run out of steam near 1.3000, UK inflation eyedGBPUSD seesaws at the highest level in a year ahead of the UK’s monthly Consumer Price Index (CPI) data for June. In doing so, the Cable pair justifies the overbought RSI (14) line as buyers struggle around a one-year-old horizontal resistance zone, close to 1.2995-3000. It’s worth noting, however, that the bullish MACD signals and the quote’s sustained trading beyond a downward-sloping resistance line from July 2023, now support around 1.2840, keeps the bulls hopeful. Even if the pair drops beneath the 1.2840 resistance-turned-support, the 200-day Exponential Moving Average (EMA) level of 1.2627 will be the last defense of the bulls. It should be observed that the 78.6% and 61.8% Fibonacci retracements of the quote’s July-October 2023 downturn, respectively near 1.2910 and 1.2720, are additional downside filters to watch during the bear run. Alternatively, GBPUSD bulls need validation from the upbeat UK inflation clues and the 1.2995-3000 upside hurdle to keep the reins. Following that, the Pound Sterling could rise toward the previous yearly high of 1.3142. However, the 1.3100 threshold may act as an intermediate halt during the rise. In a case where the quote remains firmer past 1.3142, the late 2021 swing low of around 1.3150-55 and the 1.3200 round figure can test the bulls before directing them toward the January 2022 low of near 1.3355. Overall, GBPUSD appears overdue for a pullback but the bullish trend could remain intact.
by MTradingGlobal
Retailers Exit, Big Money Enters: Time for a Bullish Surge The chart is looking bullish for several reasons. Firstly, the RSI (Relative Strength Index) is rising quickly, indicating increasing momentum. Secondly, there's a noticeable uptick in volume, which supports the price movement. The main reason for my bullish outlook is a simple price action pattern I've observed repeatedly. When the price hits a support level 3-4 times, it often indicates a very strong support. Retail investors typically place their stop-loss orders just below this support line. This pattern is evident in this crypto as well, as marked by the green circle on the chart. The price recently dipped below the support but is now rebounding, which is a bullish signal. With retail investors shaken out of their positions, they are likely to re-enter once the price moves above the previous support level. Initially, the price may rise slowly towards the support zone, but once it breaks above, significant buying pressure is expected. The large investors who entered at lower prices will drive the price up to the support level, then take profits as retail buying pushes the price higher.
BINANCE:SNXUSDLong
by princekumar909728
4
Buy opportunityThis chart sees trend reversal recently along with inclined triangle pattern. Today it tries to break the pattern with volume but couldn't. Those who want to swing trade can enter at current level or wait for some more price drop as triangle pattern is not yet broken. Once resistance break, price may move up and give 12% gain in short term. Please vote for this idea if you like it. NOTE: This is just for educational purpose only. Please do trade on your own risk.
NSE:INNOVACAPLong
by karankumar1609
1
USDJPY extends recovery from key supports, US Retail Sales eyedUSDJPY rises the most among the G10 currency pairs early Tuesday while stretching the previous day’s recovery from an upward-sloping support line from late December 2023 and the 50-SMA. Adding strength to the Yen pair’s rebound is the improvement in the RSI (14) line. However, the bearish MACD signals and the 21-SMA hurdle, currently around 160.00, challenge the bulls ahead of the US Retail Sales for June. Apart from the short-term Simple Moving Average (SMA), an 11-week-old horizontal resistance area surrounding 160.30 will also tame the pair’s further upside. It’s worth mentioning that multiple tops marked since the start of July and ascending trend line from late April, respectively near 161.80 and 162.35, act as the final defense of the pair sellers. Meanwhile, 50-SMA and the aforementioned ascending trend line from late December 2023, close to 157.90 and 157.60 in that order, put a floor under the USDJPY pair for a short term. In a case where the Yen pair closes beneath 157.60, it becomes vulnerable to test the previous monthly low of around 154.50. However, May’s low of 151.85 and early 2024 peak surrounding 150.80, quickly followed by the 150.00 threshold, will challenge the sellers afterward. To sum up, USDJPY remains in a bullish trend ahead of the key US data but the upside room appears limited.
by MTradingGlobal
HOW TO USE DESCENDING TRIANGLE AS A SETUP?This is Berger Paint stock. In this stock Descending triangle is forming. * What is the Descending triangle pattern? - A descending triangle is a chart pattern used in technical analysis created by drawing one trend line connecting a series of lower highs and a second horizontal trend line connecting a series of lows. A regular descending triangle pattern is commonly considered a bearish chart pattern or a continuation pattern with an established downtrend. However, a descending triangle pattern can also be bullish, with a breakout in the opposite direction, and is known as a reversal pattern. So here it is in Bandhan Bank support is at 190. and stock is in the accumulation phase from the long term. From above we will connect lower high and down we make a support zone. Now stock is in stock and ready to fly. * How will we know that stock is ready to move using descending triangle? - Lower High - Time at support zone - Bullish Candle at support All this step is to be followed. Then it is the best setup. -
NSE:BANDHANBNKLong
by capitalsmack
AUDUSD stays on the way to 0.6850 hurdle despite downbeat ChinaAUDUSD prints mild losses while snapping a four-day winning streak and paring the previous gains from a five-week uptrend after China reported downbeat Gross Domestic Product (GDP), Industrial Production, and Retail Sales early Monday. Even so, the Aussie pair defends last week’s upside break of a four-month-old ascending resistance line, now immediate support at 0.6750. The RSI (14) line’s retreat from overbought territory suggests the quote’s additional weakness, but the bullish MACD signals can join the trend line breakout to keep buyers hopeful past 0.6750. It’s worth noting, however, that the pair’s daily closing beneath 0.6750 will direct bears toward May’s peak of 0.6714. Following that, a 61.8% Fibonacci retracement of the June-October downside, near 0.6660, will precede the 200-day Exponential Moving Average (EMA) level of 0.6605 to act as the final defense of the buyers. On the contrary, the AUDUSD buyers keep the reins beyond 0.6750 and can aim for the 0.6800 threshold for the short term. However, a downward-sloping resistance line from June 2023, close to 0.6850, quickly followed by the late 2023 high of 0.6870, appears tough nuts to crack for the bulls. In a case where the Aussie pair remains firmer past 0.6870, the odds of witnessing a run-up beyond the mid-2023 peak of 0.6900 will be certain, which in turn highlights the 0.7000 psychological magnet for the bulls. Overall, AUDUSD buyers can ignore the latest retreat unless the quote stays beyond 0.6750.
by MTradingGlobal
Shaily Engineering Plastics Ltd| swing idea 15 feb 24Shaily Engineering Plastics Ltd| swing idea 15 feb 24 The Company is engaged in the manufacture and sale of injection moulded precision plastic components, sub-assemblies for various requirements of Original Equipment Manufacturers (OEM) financial :strong Market Cap = ₹ 2,122 Cr. ROCE = 11.4 % ROE = 9.15 % Debt to equity = 0.49 Promoter holding =43.8 % Quick ratio = 0.75 Current ratio = 1.12 Return on assets = 5.13 % this stock is in momentum with heavy volume build up. Rsi also in uptrend. unique business model with trending plastic sector. lets see how market recognize this stock. Note: I am not SEBI registered financial Adviser. I solely present my views on chart .I do not charge any kind of service. This is not buy sell recommendation. If you like my ideas than like boost and follow me for more ideas. Thanks and comment freely
NSE:SHAILYLong
by Momentuminvesting5540