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Technical Analysis

🚀 IRB Breakout Alert: Ready to Surge Above INR 72!Hello TradingView Community, Get ready for an exciting breakout opportunity in IRB Infrastructure Developers Ltd! With the current stock price at INR 68, IRB is on the brink of a significant breakout above INR 72. Here’s why you should keep this stock on your radar: 🔍 Technical Analysis: Current Price: INR 68 Breakout Level: INR 72 Volume: Increasing steadily, indicating growing interest and accumulation. Key Indicators: RSI (Relative Strength Index): Approaching bullish territory, suggesting momentum buildup. MACD (Moving Average Convergence Divergence): Positive crossover, signaling potential for upward movement. Support Levels: Strong support around INR 65, providing a safety net for the current price action. IRB Breakout Chart 📈 Fundamental Analysis: IRB Infrastructure Developers Ltd, a key player in the infrastructure sector, shows promising growth indicators: Revenue Growth: Consistent quarterly revenue growth, driven by robust project execution and new order wins. Profit Margins: Improved operational efficiency resulting in better profit margins. Sector Outlook: The infrastructure sector is poised for growth with increased government spending on road and highway projects. 💡 Why This Matters: Breakout Potential: A breakout above INR 72 could trigger a strong rally, providing lucrative opportunities for traders and investors. Bullish Sentiment: Technical indicators and increasing volume suggest strong bullish sentiment and potential for substantial gains. 🚀 Conclusion: IRB is on the verge of a major breakout. With the current price at INR 68 and a breakout level at INR 72, this stock offers a compelling opportunity. Keep an eye on this one! 📢 Call to Action: Watchlist: Add IRB to your watchlist to catch the breakout. Discussion: Share your thoughts and analysis in the comments below. Let’s explore this opportunity together! Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Trading stocks involves risks, and you should conduct your own research before making any investment decisions.
NSE:IRBLong
by prashantgupta7887
#Bitcoin Elliott Wave Count Analysis ( Ready for $44000 ?)#Bitcoin Elliott Wave Count Analysis Intermediate Degree: ▪️We are observing a potential wave (3) down of a descending impulse on the 1-day chart. ▪️Target: $48,000 - $44,000. Primary Degree: ▪️The 1-day chart suggests wave C down of a zigzag pattern is in progress. ▪️Target: $58,000 - $61,000. Cycle Degree: ▪️At the cycle degree, wave ((ii)) down of an ascending diagonal appears to be forming. ▪️Target: $52,000 - $58,000. Disclaimer: This analysis is based on current market conditions and the Elliott Wave Theory. Always conduct your own research before making trading decisions. Stay tuned for more updates and detailed insights. Please Like/RT & Appreciate
Short
by CryptoPatel
1
Day 34 of Live Algo Day Trading JournalDay 34: What a bad day it has turned out to be. Market gyrations has given me losses for all the trades taken. The algo was correct, the logic captured the direction of the market, however the intraday pullback of the market was beyond its normal limits (or as per the set calculated limits over a certain time) and kept hitting SL everytime. Took four trades, all wrong. Setback: today's market has made me thinking if I should incoporate something else in the logic to figure out the major direction and take trades only in that direction? This will keep me occupied for the weekend.
NSE:INDUSINDBK
by Hiren1
Gold stays bullish despite recent pullback, focus on $2,400 Gold price lacks clear directions after retreating from the highest level in a month while snapping a two-day winning streak. In doing so, the XAUUSD eased from a one-month-old horizontal resistance zone surrounding the $2,400 threshold. The pullback also gained strength from the US Dollar’s rebound. However, the bullion still carries an early-week breakout of a descending resistance line from April 12, now immediate support around $2,365. Additionally, keeping the buyers hopeful are the bullish MACD signals and the upbeat RSI (14) line. With this, the quote is likely to prevail on the bull’s radar and can gain more upside strength on crossing the $2,400 hurdle. In that case, the $2,418 and $2,431 will lure the bulls before directing them towards refreshing the all-time high by targeting the $2,500 threshold. It’s worth noting that the Gold price weakness past the resistance-turned-support line of $2,365 won’t open the doors for the sellers as the 21-SMA and an upward-sloping trend line from mid-March, respectively near $2,336 and $2,318, will challenge the commodity’s south-run. Should the precious metal remain bearish past $2,318, the $2,300 round figure and the monthly low of nearly $2,277 will be the final defense of the buyers. Following that, the XAUUSD’s fall toward the late March swing high of $2,222 can’t be ruled out.
OANDA:XAUUSD
by MTradingGlobal
Day 33 of Live Algo Day Trading JournalDay 33: Good day but did not turn out good for me today. Algo gave me entry in the morning, turned out profitable, but subsequent two entries took away all the profit. Overall a negative with minor loss. Progress: Stuck to the algo even when was sure that we are near the support and should have taken profit. So, no manual trading today. Learning/ to ponder: When market takes away your earnings, should you solely rely on algo ? I am thinking of changing it to stop it once a desired profit target has been achieved and take no more trades...... What are your thoughts on this ? Let it run or stop and get out ?
NSE:INDUSINDBK
by Hiren1
USDJPY : Forming lower highs!USD/JPY edged lower on Wednesday, slipping back to the 153.00 level after a broad-based decline in the US Dollar (USD) shed weight against all of its major peers. The Japanese Yen (JPY) is also looking to ease selling pressure in the broad market, recovering ground as the Greenback declines. US Consumer Price Index (CPI) inflation eased slightly on Wednesday, with headline CPI inflation in April falling to 0.3% versus market forecasts of holding at 0.4%. Easing inflationary pressures are raising hopes of a rate cut as investors call for a rate cut from the Federal Reserve (Fed).
Short
by RKarina
AUDUSD bulls need validation from 0.6720 to keep the reinsAUDUSD bulls struggle to keep command at the highest level since January as a jump in the Aussie Unemployment Rate supersedes upbeat Employment Change data from the Pacific major and challenges the previous day’s run-up. That said, the risk-barometer pair marked the biggest daily rise in six months on Thursday after softer US inflation and Retail Sales numbers drowned the US Dollar. The Aussie pair’s upside also took clues from hopes about more stimulus from China. Technically, the upbeat RSI (14) and the bullish MACD signals join the AUDUSD pair’s upside break of a four-month-old horizontal resistance, now immediate support near 0.6645-40, to keep the buyers hopeful. However, a downward-sloping resistance line from early February 2023, near 0.6720 by the press time, challenges the quote’s immediate upside. Following that, the pair’s quick run-up toward the yearly high of 0.6839 and then to the late 2023 peak surrounding 0.6870 can’t be ruled out. Meanwhile, the March 2024 peak of near 0.6665 acts as immediate support for the pair traders to watch ahead of the aforementioned resistance-turned-support near 0.6645-40. It’s worth noting that a one-month-old rising support line of around 0.6610, quickly followed by the 0.6600 threshold, will act as the final defense of the AUDUSD buyers before giving control to the sellers. Overall, the AUDUSD pair remains on the bull’s radar but the pair’s further upside hinges on a daily closing beyond 0.6720.
by MTradingGlobal
Gold price today: Continuing to search for new peaks!Hello everyone, let's learn about gold prices today. At the end of the trading session on May 15, gold increased by 27 USD, reaching 2,385 USD. During the trading session, at one point the gold price reached $2,390, the highest level in nearly a month. The USD index yesterday fell 0.6%, to its lowest level in more than a month. The depreciation of the USD has made gold more attractive to buyers, creating conditions for gold prices to recover strongly. Comments from the chart: Gold continues to consolidate its record upward momentum on the two EMAs 34 and 89, showing a good sign for buyers in the long term. In addition, gold is forming a cup-in-hand model, it is expected that after the adjustment, the long-term target of over 2,500 USD will continue to be targeted by the Bulls!
OANDA:XAUUSDLong
by RKarina
4
Day 32 of Live Algo Day Trading JournalDay 32: Day opened good, however could not sustain bullish momentum and gave up all the gains. Algo waited till it got the pullback. First trade turned out to be loss making as market played mischief and got me out. On the second trade also market tried to play mischief but the sellers were very strong and did not allow it to go beyond my SL and hence was saved. Getting to the target was a long patient wait. Had to wait for two and half hours to get it. For most of the time market just tried to push beyond the limits and kept on fooling people on both sides but my algo kept on holding. Finally at last it did go in my direction and got profit. Progress/Learnings: PATIENCE pays. Got jittery at a time when market was close to my stop loss and thought it might get hit but did not do anything manually and held on. Patience and faith on the system pays.
NSE:INDUSINDBK
by Hiren1
Gold Price Today: Reversing to increase in price!Currently, gold price has increased by 21.9 USD, reaching 2,357.6 USD/ounce, recovering to the high level from last week after positive news announced last evening. The main reason is the weakening of the USD and Treasury bond yields after data on US producer prices in April were published. The USD fell 0.2%, making gold more attractive to investors using other currencies. Yields on 10-year Treasury bonds also fell, reducing the opportunity cost of holding gold, thereby boosting gold prices. In addition, the fact that Fed Chairman Jerome Powell did not signal a rise in interest rates is also a positive factor, which can help gold prices continue to grow.
OANDA:XAUUSDLong
by RKarina
100-SMA tests EURUSD bulls ahead of EU GDP, US CPIEURUSD rises to the highest level in five weeks, up for the third consecutive day, as traders await the second reading of the Eurozone Q1 GDP and the US headline inflation number, namely the Consumer Price Index (CPI). In doing so, the Euro pair justifies the previous day’s successful clearance of the 200-SMA hurdle, backed by the upside RSI (14) line and the bullish MACD signals. However, the 100-SMA and a downward-sloping resistance line from late December 2023, close to 1.0825 and 1.0835 respectively, challenge the pair buyers. Following that, the quote’s gradual run-up toward the highs marked in April and March, around 1.0885 and 1.0985 in that order, can’t be ruled out. It should be observed, however, that a slew of hurdles near the 1.1000 threshold will challenge the pair’s upside past 1.0985, if not then bulls can aim for a late 2023 high of around 1.1140. On the contrary, a convergence of the 200-SMA and 50% Fibonacci retracement of the October-December 2023 upside, near 1.0795-90, restricts the short-term downside of the EURUSD pair. Following that, a late April swing high of near 1.0750 and a one-month-old rising support line surrounding 1.0715 will stop the Euro bears from taking control. It’s worth noting that the quote’s sustained weakness past 1.0715 needs validation from the 1.0700 threshold before challenging the yearly low of 1.0600. To sum up, the EURUSD pair is in the uptrend and hence capable of crossing the immediate resistances. However, the surprise element of the US inflation data and little room toward the north require buyers to be cautious.
by MTradingGlobal
XAUUSD - Downside correction outlook continues!The gold market today showed a modest recovery, with the metal trading at approximately $2343, reflecting a 0.34% gain since yesterday's notable decline. However, there are emerging signs that gold may be forming an inverted cup and handle pattern. If this pattern fully materializes, it suggests the possibility of a further downside correction, reaching a Fibonacci retracement level of 0.618 to 0.5. In such a case, the $2,305 mark is expected to act as a solid defensive zone for those who are optimistic about gold's prospects.
OANDA:XAUUSDShort
by RKarina
Day 31 of Live Algo Day Trading JournalDay 31: Day opened bullish, my stock opened and immediately ran up to its high point. Algo did not trigger as it is deisgned to get in on a pullback. Got an entry; market tried to cheat but could not succeed and was saved. However later on the market cheated and threw me out with a minor profit. Algo again got triggered but in the wrong direction, suffered small loss. Third time algo got triggered but came out at parity. Progress : Did not do any manual trade today even when felt like taking a bullish position manually(in hindsight looks like I was correct), but idea is to build the habit of only algo trading, no manual trading, so good, did not get into temptation.
NSE:INDUSINDBK
by Hiren1
EURUSD: Continue the price increase chain!EURUSD has decreased slightly at the end of the weekend session, with the closing price of over 1,076, but it still maintains a significant recovery trend in recent days. Important resistance levels for EUR/USD pairs are currently in the range of 1,0790 - 1,0800, determined by EMA 34, 89 and the upper boundary of the trendy channel. The next level of resistance should be noted that the highest range on April 9, at 1,0885, investors are aiming for.
Long
by RKarina
GBPUSD pokes nine-week-old resistance as key UK/US data loomGBPUSD regains upside momentum, after posting the first weekly loss in three, as buyers defend the previous week’s reversal from the 20-SMA to poke a downward-sloping resistance line stretched from early March, close to 1.2560 at the latest. The Cable pair’s recovery also takes clues from the bullish MACD signals and the upbeat RSI conditions, not overbought. With this, the Pound Sterling is likely to cross the immediate upside hurdle and aim for the 100-SMA resistance of 1.2633. Following that, the 1.2700 threshold and late March’s swing high near 1.2800 could test the buyers before directing them to the yearly top surrounding 1.2895. Meanwhile, the quote’s pullback needs validation from the 20-SMA support of 1.2495 to convince sellers. Even so, the 50% and 61.8% Fibonacci ratios of the Cable pair’s run-up from October 2023 to March 2024, respectively near 1.2460 and 1.2365, will challenge the bears. It’s worth noting that the yearly bottom marked in April, close to 1.2300, appears the last defense of the GBPUSD buyers, a break of which will open doors for the pair’s gradual fall toward the late 2023 swing low of near 1.2030 and then to the 1.2000 psychological magnet. Overall, GBPUSD remains on the front foot despite last week’s failure to cross the aforementioned resistance line. However, the technical formation also needs support from the UK employment report and the US inflation clues to convince the bulls.
by MTradingGlobal