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Trend Analysis

The Symmetrical Triangle: Real Success Rates + Breakout.The Symmetrical Triangle: Real Success Rates + Breakout. The symmetrical triangle is an important chart pattern in technical analysis, deserving special attention from professional traders. This formation is characterized by a convergence of prices between two trendlines, one descending and the other ascending, creating a consolidation zone where indecision between buyers and sellers is palpable. Statistical Analysis Empirical data reveals that the success rate of the symmetrical triangle for a trend continuation is approximately 54%. This percentage, although higher than 50%, underlines the importance of a cautious approach and rigorous risk management in using this pattern. Breakout Point The breakout of the symmetrical triangle usually occurs when the price has traveled approximately 75% of the distance to the apex. This point is crucial for traders, as it often represents the moment when volatility increases and a new trend can be established. Risks and False Exits It is essential to note that the symmetrical triangle has a relatively high rate of false exits. Statistics indicate that approximately 13% of cases in a bear market can result in a false exit to the bottom. This phenomenon underlines the need for additional confirmation before entering a position. Strategy of use To effectively exploit the symmetrical triangle, professional traders must: -Identify the formation accurately. -Wait for the breakout near the point of convergence of the trendlines. -Confirm the breakout with other technical indicators or an increase in volume. -Put in place strict risk management to protect against false exits. In conclusion, the symmetrical triangle, although being a valuable tool in the trader's arsenal, requires a methodical approach and a thorough understanding of its characteristics to be used effectively in a trading strategy.
BINANCE:BTCUSDEducation
by Le-Loup-de-Zurich
Btc bitcoin all time high new target long term horizonHi traders as you can see we've flag pattern in weekly time frame in btc usd Bitcoin seems to be more and more in news nowadays as it is almost all time high level. And consolidation in this area is very good for fruitful breakout. As new buyers won't got their desired profit and sellers are afraid of thier big loss so when they squareoff their positions there is good breakout always. Lets see this view is my personal and educational purpose only.
BINANCE:BTCUSDLong
by ravi229
Nifty Intraday Analysis for 28th October 2024NSE:NIFTY Index closed near 24180 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 25000 Strike – 109.37 Lakh 24500 Strike – 75.91 Lakh 24400 Strike – 53.82 Lakh Put Writing 23500 Strike – 55.52 Lakh 24000 Strike – 52.26 Lakh 24500 Strike – 49.20 Lakh Index has resistance near 24450 – 23500 range and if index crosses and sustains above this level then may reach near 24650 - 24700 range. Index has immediate support near 24100 – 24000 range and if this support is broken then index may tank near 23900 – 23850 range.
NSE:NIFTYLong
by RKMAURYA
Banknifty Intraday Analysis for 28th October 2024NSE:BANKNIFTY Index closed near 50785 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 51500 Strike – 30.67 Lakh 52000 Strike – 28.51 Lakh 52500 Strike – 23.01 Lakh Put Writing 50000 Strike – 20.36 Lakh 49500 Strike – 16.59 Lakh 49000 Strike – 16.08 Lakh Index has resistance near 51400 – 51500 range and if index crosses and sustains above this level then may reach near 52000 – 52200 range. Index has immediate support near 50200 - 50000 range and if this support is broken then index may tank near 49700 - 49500 range.
NSE:BANKNIFTYLong
by RKMAURYA
Finnifty Intraday Analysis for 28th October 2024NSE:CNXFINANCE Index closed near 23735 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24100 Strike – 13.00 Lakh 24000 Strike – 9.62 Lakh 23900 Strike – 5.87 Lakh Put Writing 23600 Strike – 6.02 Lakh 23000 Strike – 5.29 Lakh 23500 Strike – 4.85 Lakh Index has resistance near 23950 - 24050 range and if index crosses and sustains above this level then may reach near 24250 - 24300 range. Index has immediate support near 23600 – 23500 range and if this support is broken then index may tank near 23200 – 23100 range.
NSE:CNXFINANCELong
by RKMAURYA
Midnifty Intraday Analysis for 28th October 2024NSE:NIFTY_MID_SELECT Index closed near 12320 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 12700 Strike – 21.67 Lakh 12600 Strike – 19.00 Lakh 12500 Strike – 15.31 Lakh Put Writing 12000 Strike – 25.38 Lakh 12300 Strike – 9.60 Lakh 12200 Strike – 9.25 Lakh Index has immediate resistance near 12550 - 12650 range and if index crosses and sustains above this level then may reach 12800 – 12900 range. Index has immediate support near 12150 – 12100 range and if this support is broken then index may tank near 11950 – 11900 range.
NLong
by RKMAURYA
Nifty levels - Oct 29, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located below the chart. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
BankNifty levels - Oct 29, 2024Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located below the chart. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
Gold Trend 28/10The gold price hit our S-T target of 2750 last week, reaching a new high of 2758. However, the upward momentum failed to last, and the price couldn't hold above 2750, dropping back to the weekly low of 2708. Towards the end of the week, the gold market once again priced in the risk premium ahead of the weekend's geopolitical uncertainties, pushing the price back to 2750, and closing the week at 2747. Last week, several Federal Reserve officials made comments suggesting a 'cautious approach to rate cuts,' which strengthened the US dollar and put pressure on gold prices. On the other hand, the market had been grappling with potential retaliatory actions from Israel against Iran for the past two weeks, which finally materialized over the weekend. The attacks were relatively restrained, focusing solely on military sites in Iran and avoiding oil and nuclear facilities. Tehran, so far, has not issued an immediate response. With no significant casualties, the geopolitical tensions eased as markets opened on Monday. The NYMEX oil, most directly affected, gapped open 4% lower, and gold prices also opened $10 lower. A few crucial US data releases are scheduled from Tuesday to Friday this week, including consumer confidence, third-quarter GDP, core PCE inflation, non-farm payrolls, and the unemployment rate. A lot of uncertainty fills the week, but... considering most of the US economic figures released in the past few weeks have been relatively strong, we can anticipate downward pressures on gold prices prior to the outcome of these figures. As the US election enters its final stages, regardless of the outcome, there is a strong likelihood that the gap between the two candidates will narrow before election day, potentially leading to safe-haven funds flowing into the gold market to support the price, offsetting the downward pressure from strong data. 1-hr chart (above) > The price failed to hold above 2750 last week, causing the S-T trend to break below the upward support line (1). The upward momentum has begun to slow down, the support has shifted from the mid-week support line(2) to a slower pace(2.1) before the weekend. The key resistance zone is now sitting at last week's high of 2750-2758 (4). If any US data falls short this week, the gold price may break above this resistance, triggering a new round of buying. However, before all those economic figures from the US, we can take advantage of the sideway range of 2710-50 (3) for S-T trading. Daily chart > The overall pattern hasn't changed much, with the key resistance at 2750 (5), and the upward channel (6) still holding strong. If you like our ideas, please give us a 🚀 ! P.To
TVC:GOLD
by 1uptick
Nifty 50 Moment AnalysisToday, the Nifty movement showed a strong bounce-back after a prolonged downward trend came to a halt. However, from a technical perspective, Nifty has continued to make lower highs and lower lows, and there is no confirmed indication of an upward trend reversal yet. For Nifty to initiate an upward journey, it must first break the initial resistance level (R1) between 24,450 and 24,500 and move above the second resistance level (R2) at 24,650. If Nifty closes and sustains above 24,500 today, we may expect an upward continuation tomorrow. However, if it fails to hold above 24,450, the likelihood of resuming the downward trend increases, targeting the first support (S1) at 24,200. A break below this support could drive Nifty down towards its second strong support zone between 24,000 and 23,900. Should market sentiment further deteriorate, a panic-triggered decline could potentially take Nifty to a low of 23,577–23,500. This is solely my personal analysis and should not be taken as advice or recommendation. Please conduct your own research or consult a trusted advisor before making any financial decisions. Avoid acting on tips from unverified sources to safeguard your hard-earned money. Stay wise and safe, focus on long-term investments, and build wealth responsibly."
NSE:NIFTY1!
by Shivaay174
1
Rune Thorchain Bullish Setup & Crypto Commentary - Rune is currently trading at 5.5$ - Market Structure has so far remained Bullish where we can see a continuation of higher highs and higher lows - Spot buyers can easily expect Rune to pierce 6-6.5$ soon. - Long Term targets can be 7.8-11$ - Bitcoin has a high chance of filling its Fair Value Gap and mitigating 62,000$ if that scenario gets fulfilled - Accumulation Zones for Rune in a DIP - 4.1-4.6$ - Manage risk and do not FOMO for entries and get trapped in late buying
Long
by VKtradesimbalance
Double Rounding Bottom | HDFC BANK1️⃣ News on HDFC Bank 📍IPO Launch: ₹12,500 crore IPO for its subsidiary, HDB Financial Services 📍Profit Growth: 5.3% increase in net profit for the last quarter 📍Stock Surge: HDFC Bank shares have risen nearly 20% in three months 📍Market Position: High market cap and favorable investor sentiment 2️⃣Technical Analysis ⭕️Support around ₹1,500; important for maintaining upward momentum. ⭕️Breakout above ₹1,700 for potential buy signals. ⭕️Moving averages indicate bullish momentum. ⭕️Overbought territory suggests potential short-term corrections. ⚠️Conclusion Strong fundamentals, including solid revenue growth The merger with HDFC Ltd. enhances its market presence, but it faces some margin pressures. Overall, it’s a good time to buy HDFC Bank stocks for long-term stability and growth, while keeping an eye on potential short-term volatility. ✅Check out my TradingView profile to see how we analyze charts and execute trades. 🙋‍♀️🙋‍♂️If you have any questions about this stock, feel free to reach out to me. 📍📌Thank you for exploring our idea! We hope you found it valuable. 🙏FLLOW for more ! 👍LIKE if useful ! ✍️COMMENT Below your view !
NSE:HDFCBANK
by ReviveTraders
Dogecoin’s Current Price Action Exhibits Positive TrendsThe breakout from a falling wedge in September ignited a wave of optimism that carried into October, resulting in an impressive overall increase of nearly 65% at the time of writing. On the daily chart, the price trend has shifted from bearish to bullish, notably crossing the $0.128 mark this month. This trend closely follows the movements of Bitcoin, reflecting similar patterns on the Dogecoin chart. Just as Bitcoin has remained above a key support level, Dogecoin has also established support at $0.128. Following Bitcoin's bullish performance over the past 48 hours, Dogecoin has also seen positive momentum. In October, Dogecoin demonstrated a positive trend by remaining above the critical support level of $0.128, which had previously acted as a barrier to its growth since July. Surpassing this mark has boosted investor confidence significantly. In the short term, it appears poised to reach $0.1747, but it must first clear the $0.15 level to achieve that target. If it fails to do so, it may continue to consolidate above the $0.128 support. Looking ahead, long-term growth is expected to be substantial, with many analysts expressing a bullish outlook online.
COINBASE:DOGEUSDLong
by Sam_TCR