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Technical Analysis

Grse & Mazdock: Hidden Channels Unveiled! CT Breakouts ahead ? In this video, we dive deep into the strikingly similar price structures of GRSE and Mazdock. Both stocks are navigating a hidden parallel channel, with a recent breakout of a key counter trendline. GRSE is showing trendline support, despite making slightly lower lows, while volumes across both stocks suggest potential for bigger moves. Watch closely as we map out potential pathways for future price action setups. Keep these stocks on your radar and let's revisit after the breakout!
NSE:MAZDOCKLong
by Averoy_Apoorv_Analysis
2
EURUSD: Bears focus on 1.0800 and US Inflation cluesEURUSD licks its wounds at the lowest level in eight weeks as traders await September's US Consumer Price Index (CPI) data, especially after the previous day’s FOMC Minutes drowned the Euro pair. Bears keep the driver’s seat Apart from the US Dollar’s run-up post-Fed Minutes, the EURUSD pair’s confirmation of “Double Tops” bearish chart formation and a clear break of a 15-week-old rising support line add strength to the downside bias. It’s worth noting, however, that the oversold RSI (14) line and sluggish MACD signals challenge intraday sellers, along with the pre-data consolidation. Key technical levels to watch The 50% Fibonacci level from the EURUSD’s June to September rise, around 1.0940, limits immediate downside. The next significant support is at the 61.8% Fibonacci retracement near 1.0870, known as the “Golden Fibonacci Ratio.” If the price breaks below 1.0870, it could lead to a drop toward the bearish target from the "Double Tops" pattern, around 1.0800. On the upside, the EURUSD recovery is unlikely unless it surpasses the 1.1010 level. The previous support line, now acting as resistance, is near 1.1000. In a case where the Euro buyers manage to stay onboard past 1.1010, the 23.6% Fibonacci retracement and the double tops, respectively near 1.1085 and 1.1200, will be on their radars. Further downside expected While an oversold RSI and potentially softening US inflation data may pose challenges for US Dollar bulls, EURUSD bears remain encouraged. The confirmation of a bearish chart formation, combined with the European Central Bank's (ECB) more dovish stance compared to the Federal Reserve (Fed), keeps the sellers optimistic about further declines.
by MTradingGlobal
2
Gold Prices Decline for 6 Consecutive Sessions, Facing ResistancGold prices fell for the sixth consecutive session on Wednesday (October 9), driven by a stronger USD and diminished expectations for a more aggressive rate cut in November 2024. Gold is currently hovering around $2,608.880, after hitting a key support level at $2,575.921. This is a crucial support zone that buyers need to defend to prevent further declines. At present, gold is facing strong resistance at $2,648.815 and $2,624.834. If these levels cannot be surpassed, gold is likely to continue correcting down to the nearest support at $2,575.985. However, if buyers manage to push prices past the current resistance, the market could see a short-term rally. The RSI indicator is currently at 36.19, suggesting that bearish momentum still dominates and warning of a potential deeper correction.
OANDA:XAUUSD
by Zola_Hello
IDFC FIRST BANK - BREAKOUT / BREAKDOWNYou guys are smart if you really know how to trade this Pattern ! A rectangle chart pattern forms during a period of consolidation, where the price moves between parallel support and resistance levels. This pattern indicates indecision in the market, with buyers and sellers in equilibrium. The price bounces between these horizontal levels multiple times, creating a rectangular shape. Traders look for a breakout from this range to signal the next move. A bullish breakout occurs above the resistance, while a bearish breakout happens below the support. Volume typically decreases during the formation and spikes during the breakout, confirming the pattern’s validity. Clear Accumulation/Distribution Happening, pay attention even if you dont want to trade it's fine !
NSE:IDFCFIRSTB
by piyushbafna000
GBPUSD: Focus on 50-SMA, key horizontal support and Fed MinutesGBPUSD struggles to hold onto early gains after bouncing off a three-month support level. As bearish momentum builds, traders closely watch for insights from the upcoming Federal Open Market Committee (FOMC) meeting minutes. Multiple catalysts favoring Cable sellers The Pound Sterling is finding it hard to sustain a rebound from the 12-week-old support zone. Bearish MACD signals and downbeat RSI (14) add to the negative sentiment. Additionally, last week's confirmation of a bearish rising wedge pattern enhances the resolve of GBPUSD sellers, pointing to continued downward pressure. Key technical levels to watch While sellers currently dominate the GBPUSD market, the 50-day SMA around 1.3085 poses an immediate challenge to further declines, with crucial support around 1.3060-1.3040 just below. If these levels break, the 100-day and 200-day SMAs at 1.2935 and 1.2780 could test sellers before directing them to the bearish pattern’s theoretical target of 1.2450. A corrective bounce for GBPUSD seems unlikely to gain credence unless it breaks above the wedge's lower line near 1.3280. That said, the immediate resistance levels are at 1.3100 and 1.3200. If the price holds above 1.3280, bulls may aim for a yearly high of approximately 1.3435 and the wedge's upper line around 1.3510. Bears to dominate Considering the bearish technical signals and the potential for the US Dollar to consolidate its previous monthly losses—supported by positive economic data and a hawkish Federal Reserve bias—the GBPUSD pair is likely to decline further. This outlook holds unless today’s Fed Minutes and Thursday’s Consumer Price Index (CPI) data underperform, which could dampen the US Dollar's strength.
by MTradingGlobal
2
Data Patterns Clear BUY!Stock Analysis Overview Technical Support: Strong support identified near the 2,250 level based on current data patterns. Fundamental Strength: The company remains fundamentally robust, showcasing solid financial health and growth prospects. Price Correction: The stock has retraced approximately 40% from its recent peak, presenting a potential entry point. Investment Classification: Positioned as a defensive growth stock, offering both stability and growth potential.
NSE:DATAPATTNSLong
by ali000351
7
USDJPY: Sellers pay attention to 146.40, Fed Minutes and US CPIEarly Tuesday, USDJPY remains weak after retreating from a seven-week high. The pair defends the previous day’s pullback from the 100-bar Exponential Moving Average (EMA) as traders await key events this week, including the US Federal Reserve’s meeting minutes and September’s Consumer Price Index (CPI). Bulls remain in the driver’s seat Despite the pre-data consolidation and retreat from the 100-EMA, USDJPY's stronghold above the 50-EMA, bullish MACD signals, and a positive RSI (14) suggest an overall upside bias. Important technical levels to watch USDJPY faces immediate downside support in the 147.35-20 range, but the key level to watch is the 50-EMA near 146.40. A break below this could lead to a quick drop to 145.00 and the late September low around 141.65. The 140.45-20 area and the psychological level at 140.00 may pose strong resistance for sellers. On the upside, a break above the 100-EMA around 148.75 won’t be enough for buyers to regain control, as resistance from the 200-EMA and mid-August high near 149.40 will be crucial. If USDJPY stays above 149.40, the 150.00 mark and early 2024 high near 150.90 will be key targets for bulls. Data/events are the key USDJPY's technical outlook is bullish, supported by a hawkish Fed stance following recent comments from FOMC Chair Jerome Powell and the US employment report. However, growing concerns about the Bank of Japan, potential softness in US inflation data, and Powell's challenges in maintaining a hawkish tone could attract sellers to the Yen pair.
by MTradingGlobal
Navigating the Bullish Surge: A Cautious Approach to InvestingThe Indian markets are experiencing an extraordinary rally, with major indices soaring to unprecedented heights. This surge is undoubtedly enticing for retail traders and investors eager to capitalize on the momentum. However, the pressing question remains: Are these elevated levels truly the right time to enter the market? Perhaps not. To gain insight, we can turn to a diagram by Dr. Jean-Paul Rodrigue that illustrates the typical stages of a market bubble. When we overlay this framework onto the current landscape of Indian indices, it becomes apparent that we may be on the brink of significant market movement—potentially in the coming weeks. History has shown us that markets can swing from euphoric bullishness to sharp corrections. Notable examples include the catastrophic crash of 2008 and the rapid declines during the COVID-19 pandemic in 2020. While we may not face declines as drastic as those events, it’s essential for retail traders to be proactive in safeguarding their investments. One effective strategy to mitigate downside risk is to consider purchasing long dated put option. A put option provides the holder with the right to sell the underlying asset without the obligation to do so. This means that if the market experiences a downturn—whether in the immediate future or after a few weeks or months—the put option can yield significant profits during a substantial decline. On the flip side, if the market continues its upward trajectory, the put option will gradually lose value and may eventually become worthless as indices continue to set new records. The key takeaway here is to keep your investment strategy straightforward and avoid unnecessary complexity. This is merely one of many strategies available for investors looking to protect their portfolios. Final Thoughts: As we navigate these exciting yet unpredictable market conditions, it’s crucial to remain vigilant and informed. While the allure of all-time highs is compelling, prudent risk management is essential for long-term success in investing. Disclaimer: All investments carry inherent market risks. This article is not a recommendation; please conduct your own analysis before making any trading or investment decisions.
NSE:NIFTYEducation
by VishalSubandh
Bitcoin: BTCUSD extends recovery from 200-SMA to trim lossesBitcoin (BTCUSD) rises to a week’s high, continuing its rebound from the 200-SMA and breaking through the 100-bar simple moving average (SMA). BTCUSD bulls aim for a new three-month high! Along with a solid bounce from the 200-SMA, a positive RSI (14) and bullish MACD signals support BTCUSD’s push past the 100-SMA. This indicates potential for more gains, even though the RSI is nearing overbought territory, suggesting limited upward movement soon. Key technical levels to watch… With Bitcoin’s strong recovery from the 200-SMA and a successful run-up beyond the 100-SMA, buyers are ready to challenge a six-week-old horizontal resistance area surrounding $64,700. However, they may face hurdles at the 78.6% Fibonacci Retracement of July-August downside near $65,700 and an upward trendline from late August around $66,900 afterward. On the downside, the 100-SMA around $63,300 is holding BTCUSD up, while the 61.8% Fibonacci retracement support is near $62,200. That said, another key support is found at the 200-day moving average of around $60,700, with the psychological level of $60,000 serving as buyers' last line of defense. Recovery remains preferable… With Bitcoin bouncing back from key moving averages and a potential pullback in the US Dollar due to upcoming US inflation data and FOMC minutes, BTCUSD looks set for further upside.
BITSTAMP:BTCUSD
by MTradingGlobal
1
AFFLE INDIA shows positive trendAFFEL INDIA has shown positive trend after break out from level. Its has perfectly clear rounding bottom pattern break out and since last 4 week sustain above breakout level. Expected this momentum continues and as per pattern it may hit 2100++ level. Which is around 35-40% upside. I am not a registered advisor so please take advice with your registered financial advisor before making decision of any investment. All investment is subject to market risk.
NSE:AFFLELong
by P_hetalben
Gold: “Bullish Pennant” lures XAUUSD buyers on US NFP DayGold prices are starting to rise, reducing weekly losses on the first positive day in three. This reflects a market shift toward the traditional safe-haven asset as investors remain cautious ahead of the US employment report for September, particularly the Nonfarm Payrolls (NFP) data. Buyers remain in control Even though gold has lacked momentum over the past two weeks, it is holding above the late September breakout from a four-month trend line resistance, which now acts as support. The XAUUSD also forms a “Bullish Pennant” pattern, attracting buyers. The rising RSI (14) indicates strength, but the sluggish MACD and pre-NFP jitters are holding back immediate movement in the precious metal. Key technical levels to watch Gold's immediate focus is on the bullish pennant's resistance line, currently near $2,665, which poses a challenge for intraday buyers. Above that, the recent all-time high of $2,685 and the $2,700 mark will attract bulls. If gold trades successfully above $2,700, it could target around $2,735, which is the theoretical goal of the pennant. On the downside, support levels are set at $2,638 and $2,635, thanks to the pennant's bottom line and a long-term resistance-turned-support. Further down, an upward-sloping support line from early August and the 200-SMA will provide additional support for XAUUSD near $2,580 and $2,560, respectively. Gold bulls can overlook pullbacks Although US employment data may pose challenges for gold buyers, several strong support levels make it tough for sellers to regain control. This suggests that bulls can stay confident, even if prices experience a pullback—unless there’s a significant drop below the 200-SMA.
OANDA:XAUUSD
by MTradingGlobal
EW Breakdown of USDCHF: Eyeing a Move Toward 0.8620I have analyzed the wave count by examining a consolidation area with significant trading activity following a sharp decline in USDCHF. Observing the slope of the fall, it appears that this congestion area could represent a correction on the 4-hour timeframe. The wave count indicates that wave B has formed a contracting triangle, with wave (e) of wave B completing at 0.8396 . We are at wave (C), which has can be move forward after breaching a strong resistance of 0.85154 . The currency may have some pullback for the public participation, but it shouldn't exceed the low of wave B. The setup can be formed after the breakout of wave B, for the distance up to 0.8618. Fibonacci Calculations are given below: Wave C = 1.618 of Wave A Wave C = 0.786 of the previous impulse Wave C = 1.618 of the previous impulse Additional information will be provided shortly.
by Trade-Technique
EURUSD: Bears seek confirmation from “Double Tops” and US NFPEarly Thursday, EURUSD prints a five-day losing streak, reaching its lowest point in three weeks. The Euro pair traders are holding their breath for the September US employment report, especially after strong data from ADP and hawkish comments from Fed Chair Jerome Powell. Sellers approach key supports In addition to strong US data and hawkish remarks from Fed Chair Powell, softer inflation in the Eurozone is adding pressure on the EURUSD pair. A clear drop below the 50-bar Exponential Moving Average (EMA) keeps bearish sentiment alive. Plus, the lack of an oversold RSI (14) and bearish signals from the MACD suggest further weakness ahead. Important levels to watch With the EURUSD pair breaking below the 50-EMA and facing bearish technical and fundamental factors, it looks poised to test the previous monthly low around 1.1000. However, a six-month-old support line will likely challenge sellers around 1.0980. Importantly, the convergence of the 100-EMA and an ascending support line from late June, near 1.0960, is a crucial level to monitor. A drop below this level could push prices toward the target of the “Double Tops” pattern, around 1.0800. Alternatively, the 50-EMA around 1.1045 serves as the immediate barrier for any recovery in the EURUSD pair. If the bulls can break through this level, they’ll face further resistance at 1.1100 and the “Double Tops” around 1.1200. A push above 1.1200 would challenge the current bearish trend and open the door for buyers to target the 2023 peak of approximately 1.1275. Bears reign is about to be challenged Overall, the EURUSD pair looks bearish in the short term, but there’s limited downside potential before reaching crucial technical levels. This means upcoming data and events will play a vital role in determining the next move.
by MTradingGlobal
Devyani International: Will Weekly Momentum Fuel a Breakout?Devyani International is currently making higher lows, as indicated by the trend line. The stock has established strong support at 142, with resistance at 203. After two failed breakout attempts, the question remains: will the third succeed or will it pull back to support? Minor resistance at 179 has now turned into support. However, it is important to note that while the weekly volumes remain unimpressive, the MACD is showing growing strength, signaling potential bullish momentum in the coming weeks. Potential Risk: The primary risk to the stock's upward trajectory is the possibility of a broader market correction, particularly influenced by uncertainty in the Index. Disclaimer: This analysis is intended for educational purposes and is not a recommendation to buy. It is important to learn how to recognize and understand patterns in stock movements.
NSE:DEVYANI
by sandeepbalachandran
SWING OPPORTUNITY IN ATUL AUTO"ATUL AUTO" is changing it's overall market structure on weekly timeframe and is getting ready to move upwards. The good thing about the stock is that price is consolidating within a range above the recent support level of 7590, which means buyers are accumulating the stock. For entry, one must wait for range breakout above 8135, and the next target will be 8900, which is almost 10% from the entry level. Stop loss will be below any swing low during breakout, in Hourly timeframe. Entry and target has been calculated according to the current price action on the chart. Thank you for supporting our analysis.
NSE:ATULLong
by rtfofficial1618
GBPUSD: “Rising Wedge” signals selling pressure on PoundGBPUSD experienced its biggest decline in a week the previous day as the US Dollar strengthened ahead of the September jobs data. The Pound Sterling tested a bearish rising wedge pattern but managed to bounce back from the lower line of this formation. Despite this slight recovery, traders are cautious and watching closely as they await the US ADP Employment Change report on Wednesday, followed by the important Nonfarm Payrolls (NFP) data on Friday. Sellers flex muscles… Besides the US Dollar’s rebound before the key US data, bearish MACD signals also keep the GBPUSD sellers hopeful. However, the nearly oversold conditions of RSI (14), the quote’s sustained trading beyond the 200-SMA, and downbeat expectations from the US statistics suggest a long and bumpy road for the bears. Technical levels to watch… If GBP/USD falls below 1.3240, it will confirm a bearish rising wedge pattern, making this level critical for traders. Another important support level is the 200-SMA at 1.3180. Should the pair break below this, it may target the horizontal support zone around 1.3030, with 1.3000 serving as a psychological level. Further declines could lead to August's low near 1.2665 and possibly down to the wedge's target of 1.2370. On the upside, the GBPUSD pair faces resistance at 1.3310 and 1.3360, with the latest peak around 1.3435. If the pair breaks above 1.3435, it will encounter the top line of the rising wedge near 1.3465. Successfully moving past 1.3465 could set the stage for a rally toward the February 2022 high of about 1.3645. Expect a price pullback, but not a significant drop Overall, the GBPUSD buyers appear to be losing momentum, with sellers positioned near the bottom of the wedge and the 200-SMA. However, potential weakness in US data and several support levels make it challenging for sellers to gain full control.
by MTradingGlobal
EUR/USD Breakout Towards 1.1300Currently, EUR/USD is in a consolidation phase after a recent rally. The price is fluctuating between support at 1.10835 and resistance at 1.12106. The price has broken below the 34 EMA and is testing lower levels, indicating a short-term bearish trend. Technically, key support is at 1.10835, representing the recent low. Resistance is at 1.12106, marking the nearest high. A breakout scenario may occur around the 1.11438 region. If the price breaks through this level and continues past resistance at 1.12106, there is a high chance of a strong rally up to 1.1300. Recently released inflation data will significantly impact EUR/USD. If inflation comes in higher than expected, it could support the Euro's rise.
Long
by Romio_pro