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USDJPY pokes key resistance amid mixed market, light calendarUSDJPY struggles to defend a two-day winning streak and the weekly gains while jostling with a seven-week-old symmetrical triangle’s resistance line early Monday. In doing so, the Yen pair also prints an inability to cross a broad resistance zone comprising tops marked since late April, around 158.00-158.50. However, the quote’s sustained trading beyond the 200-bat Exponential Moving Average (EMA) and the upbeat RSI (14) line keep buyers hopeful beyond witnessing a clear downside break of 156.00. Even so, the aforementioned triangle’s bottom line and an upward-sloping trend line support from late March, respectively near 155.60 and 153.40, will act as the final defense of the bulls before giving control to the bears. Meanwhile, fresh buying in the USDJPY pair will gain momentum beyond 158.50, which in turn could direct buyers toward the 160.00 psychological magnet. However, the latest multi-year peak of 160.20 and the year 1990’s high of near 160.40 could poke the Yen pair buyers afterward. If the quote remains firmer past 160.40, the odds of witnessing a gradual run-up toward the late 1986 peak of 164.50 and then to the 1978 low of 177.00 can’t be ruled out. Overall, the USDJPY remains in a bullish trajectory despite recent inaction.
by MTradingGlobal
This sugar stock is ready to give 57% swing from current levelsHello Everyone. i hope you all will be doing good in your trading and your life as well. I have brought a stock which is under 50 rs. and have potential to give double digit returns in few days. Stock just have given breakout of falling resistance trendline. There is higher probability we can see this stock above 50+ in coming days. MACD is giving bullish crossover price is above 200-DEMA huge volume spike seen on breakout day All this indicating a good reversal in stock. Technically stock is looking good but fundamentally still not stable, so my recommendation will be only for short term. Please follow strict stop loss and target it this. go with less qty for better result. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
BSE:BAJAJHINDLong
by TraderRahulPal
4
Crude Oil buyers brace for a bumpy road ahead, focus on $79.50WTI Crude Oil picks up bids to reverse the previous day’s retreat from a seven-week-old falling resistance line, close to $78.65 by the press time. In doing so, the black gold recovers from a 50% Fibonacci retracement of December 2023 to April 2024 upside, near $77.70. Given the bullish MACD signals and upbeat RSI conditions underpinning the commodity’s rebound, the buyers are likely to overcome the immediate trend line resistance surrounding $78.65. However, a convergence of the 100-SMA and the 200-SMA, around $79.50 at the latest, appears a tough nut to crack for the energy bulls. Also acting as an upside filter are the $80.00 threshold and late May swing high of $80.60. It should be noted, however, that the quote’s successful trading past $80.60 enables the optimists to aim for the support-turned-resistance line stretched from late 2023, near $83.50 as we write. On the contrary, a daily closing beneath the 50% Fibonacci ratio of $77.70 could quickly fetch the WTI crude oil prices to the previous monthly low of around $76.20. If the black gold remains bearish past $76.20, the monthly bottom of around $72.40 and the $70.00 psychological magnet will lure the sellers. It’s worth observing that the energy benchmark’s sustained weakness past $70.00 could make it vulnerable to a slump toward the previous yearly low of around $63.60. Overall, WTI Crude Oil appears all set to post the biggest weekly gain since early April but a daily closing past $79.50 will be crucial for bulls to retake control.
TVC:USOIL
by MTradingGlobal
2
BTCUSD Important levelHey Family, BTCUSD is at important level and Forming a ascending triangle Pattern Let's see this breakout sustain or not. Trying To Break Resistance zone and if this break Resistance zone then we can see a good upside move with levels 68400, After 68400 hurdle we can see a good quick move, If There is a reversal From The Resistance Zone. Then We can see Lower level possible only after breakdown of Support trendline. what is your view please comment it down and also boost the idea this help to motivate us for sharing more idea. We are Certified. All views shared on this channel are my personal opinion and is shared for educational purpose and should not be considered advise of any nature.
INDEX:BTCUSD
by ChartSight
EURUSD traders should focus on 1.0790, US inflation and FedEURUSD licks its wounds at the lowest level in six weeks as the pair traders await the US Consumer Price Index (CPI) for May and the Federal Open Market Committee (FOMC) meeting of the US Federal Reserve (Fed). Also important are the final readings of Germany’s inflation data for May and speeches from a slew of European Central Bank (ECB) officials. In doing so, the Euro pair keeps the week-start fall beneath the 200-day Simple Moving Average (SMA) and a one-month-old ascending support line, a part of the short-term bullish triangle. Not only the downside break of the key SMA and rejection of the bullish chart pattern but the bearish MACD signals and an absence of the oversold RSI (14) also keep the pair sellers hopeful. The same highlights February’s low of around 1.0695 as immediate support to watch during the quote’s fresh downside. Following that, an upward-sloping trend line from October 2023 near 1.0650 will act as the final defense of the buyers. In a case where the pair remains bearish past 1.0650, it becomes vulnerable to refresh the yearly low, currently around the 1.0600 threshold. On the contrary, softer US inflation and the Fed’s inability to convince the policy hawks despite avoiding the looming rate cut can trigger the EURUSD pair’s recovery. In that case, a convergence of the 200-SMA and support-turned-resistance line around 1.0790 will be in the spotlight. Should the Euro buyers manage to provide a daily closing beyond the 1.0790 hurdle, as well as cross the 1.0800 round figure, the 50% Fibonacci ratio of its July-October 2023 decline, around 1.0865, and then to a five-month-old descending resistance line, near 1.0915, can’t be ruled out. It should be observed, however, that the buyers will face heavy resistance past 1.0915 as the aforementioned triangle’s top line of 1.0920 will precede the 61.8% Fibonacci ratio near 1.0960 and an 11-month-old falling trend line surrounding 1.1010 to restrict the further upside. Overall, EURUSD remains on the bear’s radar beneath 1.1010 while 1.0790 acts as an immediate key upside hurdle.
by MTradingGlobal
Momentum Swing idea|Zensar Technologies LtdZensar Technologies Ltd Zensar Technologies is a leading digital solutions and technology services company. It is a part of the Mumbai-based RPG group and is headquartered in Pune, India. Fundamental : Strong Market Cap ₹ 12,767 Cr. Current Price ₹ 564 Stock P/E 20.9 ROCE 14.5 % ROE 11.2 % Debt to equity 0.07 Promoter holding 49.2 % Quick ratio 2.95 Current ratio 2.95 Piotroski score 5.00 Profit Var 3Yrs 7.69 % Sales growth 3Years 5.05 % Return on assets 7.95 % this stock is available at 20 p/e as well as now in momentum with rsi above 55. keep in radar. 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
BSE:ZENSARTECHLong
by Momentuminvesting5540
THE BOWL PATTERN. Clean and simple once the stock breaks out.THE BOWL PATTERN. Clean and simple, this sleeper pattern takes off once the stock breaks out. For the 2005 winners, the breakouts occurred on 52-week highs of the stocks' prices. In his book Encyclopedia Of Chart Patterns, Thomas Bulkowski tested and rated the various patterns, and the rounded, or bowl, pattern was the second most likely to rise, with a 54% chance to rise 20% or more. Even if a stock isn't the next big winner, it's a big bonus if you have a better than average chance of making money on the trade. Beyond the breakout pattern, logically the top 10 stocks should have strong fundamentals and it's important to know exactly what made them go up. So in retrospect, I followed the trail of news releases and earnings reports fueling their growth.
NSE:COROMANDELLong
by TuhinKumarMondal
1
GBPUSD defends week-start recovery as UK employment data loomsGBPUSD stays defensive above 1.2700 as traders await the UK’s monthly employment data early Tuesday. In doing so, the Pound Sterling keeps the previous day’s recovery from a seven-week-old rising support line and the 21-day Exponential Moving Average (EMA). Monday’s rebound also justifies an uptick in the RSI (14) line but fails to gather momentum amid bearish MACD signals. As a result, the Cable pair is likely to mark another attempt to cross a descending resistance line from July 2023, close to the 1.2800 threshold at the latest. However, any further upside appears lacking acceptance, which if takes place could challenge the yearly high marked in March around 1.2895 and the 1.2900 round figure. Should the buyers keep the reins past 1.2900, the 1.3000 psychological magnet and late 2023 peak of 1.3142 will be in the spotlight. On the contrary, the 21-day EMA level of 1.2710 and the aforementioned rising support line, close to the 1.2700 mark, restrict the short-term downside of the GBPUSD pair. It’s worth noting, however, that the Pound Sterling’s sustained weakness beneath 1.2700 will direct sellers toward the early May swing high of nearly 1.2635 and then to the 50% Fibonacci ratio of the pair’s July-October 2023 fall, near 1.2590. Following that, the 38.2% Fibonacci retracement level of around 1.2455 and an upward-sloping trend line from October 2023, near 1.2400, will act as the final defense of the bulls. Overall, the GBPUSD pair is likely to extend the latest recovery ahead of the UK employment data but the upside room appears limited, which in turn suggests the need for strongly positive statistics to defend the buyers.
by MTradingGlobal
BTCUSD Important levelHey Family, BTCUSD make or break level, BTCUSD is at important level and Forming a ascending triangle Pattern Let's see this breakout sustain or not. Trying To Break Support Trendline and if this break support zone then we can see a lower level 68400, If There is a reversal From The Support Zone. Then We can see Upside move possible only after breakout of resistance zone. what is your view please comment it down and also boost the idea this help to motivate us for sharing more idea. We are Certified. All views shared on this channel are my personal opinion and is shared for educational purpose and should not be considered advise of any nature.
INDEX:BTCUSD
by ChartSight
3
USDJPY approaches key upside hurdle as Fed, BoJ week beginsUSDJPY extends Friday’s recovery from the 50-SMA while rising toward a six-week-old descending resistance ahead as the week comprising monetary policy announcements from the US Federal Reserve (Fed) and the Bank of Japan (BoJ) begins with mixed sentiment. It’s worth noting that the Yen pair’s sustained trading above the 50-SMA joins the upbeat RSI (14) and an impending bull cross on the MACD to underpin upside bias. However, a clear break of the aforementioned resistance line close to 157.55 by the press time, becomes necessary to convince buyers. Following that, 158.00, 158.40 and the 160.00 round figure will test the buyers. In a case where the bulls keep the reins past 160.00, the year 1990’s peak of 160.40 will be the final defense of the bears. Meanwhile, the 23.6% Fibonacci ratio of the USDJPY pair’s December 2023 to April 2024 upside, near 155.50, will precede the 50-SMA support of 155.10 and the 155.00 round figure to limit the short-term downside. Should the quote remain bearish past 155.50, an upward-sloping support line from late March, around 153.25 at the latest, will be the key support to watch. It should be observed that a daily close beneath 153.25, as well as a sustained trading beneath the 153.00 threshold, will make the Yen pair vulnerable enough to slump toward the multiple tops marked during late March and early April, near the sub-152.00 region. Overall, the USDJPY remains in the bullish mode as the key week begins.
by MTradingGlobal
Large Rectangle Breakout Seen in BPCL Ltd.Hello Everyone, i hope you all will be doing good. I have found a Good Trade which just have retested the levels after giving successful breakout on chart, And today i am gonna to teach you about this pattern so if you see this pattern next time, you all will be able to trade accordingly. Q:- What is Rectangle Pattern and How to Use Rectangle Chart Patterns to Trade Breakouts? Rahul:- A rectangle is a chart pattern formed when the price is bounded by parallel support and resistance levels. A rectangle exhibits a period of consolidation or indecision between buyers and sellers as they take turns throwing punches but neither has dominated. The price will “test” the support and resistance levels several times before eventually breaking out. From there, the price could trend in the direction of the breakout, whether it is to the upside or downside. we can clearly see above in BPCL chart that the pair was bounded by two key price levels which are parallel to one another. So, Traders, i hope you Guy's have learned today how to Trade Rectangle Pattern, but guy's We just have to wait until one of these levels breaks and go along for the ride! Remember, when you spot a rectangle: THINK OUTSIDE THE BOX! That's it. ABOUT:- Bharat Petroleum Corporation is a public sector company which is engaged in the business of refining of crude oil and marketing of petroleum products. Market Cap ₹ 1,30,112 Cr. Current Price ₹ 600 High / Low ₹ 688 / 331 Stock P/E 4.81 Book Value ₹ 349 Dividend Yield 3.50 % ROCE 32.1 % ROE 41.9 % Face Value ₹ 10.0 Industry PE 7.78 Debt ₹ 54,599 Cr. EPS ₹ 124 Promoter holding 53.0 % Intrinsic Value ₹ 837 Pledged percentage 0.00 % EVEBITDA 3.77 Change in Prom Hold 0.00 % Profit Var 5Yrs 28.2 % Sales growth 5Years 8.48 % Return over 5years 9.16 % Debt to equity 0.72 Net profit ₹ 26,859 Cr. ROE 5Yr 23.0 % Profit growth 709 % Important levels for BPCL Ltd. Buy in between 605-585 ( Accumulate more if get lower levels till 550-530) Targets we can see 808/1008/1290++ Keep Stop loss at 471 Price is above 200 EMA We have seen Proper Breakout of Large Rectangle Pattern in weekly timeframe. with Good Volume Price is sustaining above breakout trendline and it has given pull back to retest the levels MACD and RSI has given bullish crossover (I have not placed RSI here as i want to keep chart neat and clean but i have analysed already) Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:BPCLLong
by TraderRahulPal
Bullish Triangle Pattern Breakout seen in Construction CompanyHello Everyone, i hope you all will be doing good in your trading and your life as well. Today i have brought another stock which has given breakout of Bullish Triangle Pattern with good weekly volume on chart. Stock really have given good move after breakout, but wait for best entry in case stock gives some lower momentum in between (300-325). Aggressive players can take entry from here too and accumulate more if you see lower levels in it.. Stock is good for short term to long term as well. This is kind of invest and forget type stock. Technicals:- stock is trading above 200-DEMA. stock has given bullish crossover in MACD and RSI indicator. stock has given breakout of Triangle pattern with good volume. Everything suggesting a bullish momentum in this stock. NOTE:- I have not put MACD & RSI indicators on chart, but i have done my analysis on these written indicators above. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:KNRCONLong
by TraderRahulPal
Gold (XAUUSD) Trading at Lower End of the Hourly ChannelGold (XAUUSD) Trading at Lower End of the Hourly Channel: A Potential Rebound Gold (XAUUSD) is currently trading at the lower end of its hourly channel, around the 2312 level. This price point is significant as it aligns with a key demand zone identified on higher time frames. If the channel boundaries are respected, we could anticipate a recovery towards the upper end of the channel. Key Points to Consider: Support at Current Level: The 2312 level has historically acted as a strong support, coinciding with a demand zone on higher time frames. This increases the probability of a bounce from this region. Channel Dynamics: The hourly channel has been well-defined, with price consistently respecting its boundaries. Given this pattern, a move towards the upper end of the channel seems likely if the lower boundary holds. Trade Opportunity: This setup presents a potential long trade opportunity. Entering a position at the current level with a target near the channel's upper boundary could offer a favorable risk-to-reward ratio. Trade Setup: Entry: 2312 (current price level) Target: Upper end of the channel (to be determined based on the channel's slope) Stop Loss: Below the demand zone (specific level to be determined based on risk tolerance) Conclusion: Keep an eye on the price action around the 2312 level. If support holds, we could see a strong upward move towards the channel's upper boundary, presenting a lucrative trading opportunity. Always manage risk appropriately and adjust stop loss and take profit levels as the trade progresses. Happy trading! 🚀
FOREXCOM:XAUUSDLong
by ThirstyBull