FOREX NOT FALLING IN TRAP (EURO/USD)As we all know Forex is the largest and most popular financial market in the world, which means it is extremely liquid and frequently sees a daily turnover of trillions of dollars. But at the end in trading it's all a ZERO SUM GAME if someone makes money on one side then someone loses money on the other side.
So it's very important for us to be on the right path to survive in these markets and make money consistently which is also not an easy task. So the best-proven way one can stay profitable is to trade in the trends direction as we all might have heard before TREND IS OUR FRIEND.
So be on the bigger trend path and look for the correct trades. Here I am sharing an analysis on EURO/USD in which I have shown you the direction of the trend and given a plan how you can trade it and even if you want to go against the trend or might feel like the trend is reversing right now then where you should be looking the price to be and how you can trade it when the trend reverse. I have shared my analysis on charts go and watch it out.
Don't chase before the price wait for the price to come near your zones as earlier a wise man once said '' PLAN THE TRADE AND TRADE THE PLAN "
Hope you enjoy and learn something new from it👍
- Pranesh Sahoo
FOR MORE IDEAS PLEASE SUPPORT BY SHARING THE ANALYSIS AND DO FOLLOW AND LIKE. IF ANY DOUBT ARISES DO COMMENT DOWN BELOW I WOULD LOVE TO HELP YOU.
Trendisyourfriend
MINDA INDUSTRIES BREAKOUTMINDAIND broke from the resistance of ~756.
We have support range of 640-650.
RS > 0.
Good Vol delivery and CNXAUTO turning bullish.
If this hold above 835 we can see good move in this stock.
#TrendIsYourFriend.
TATA MOTORS BREAKOUTTATAMOTORS broke resistance of ~360.75.
RS Still not turned positive we'll wait for it to turn positive and little bit pullback around 350-353 levels.
CNXAUTO is also very bullish.
This stock can give us 40-45% upside in medium-long term.
We have very good support in range of 290-295.
Volume Delivery is looks very good.
BATA INDIA BREAKOUTBata has broke the resistance of ~1838.
Relative strength is just turned positive.
Volume delivery is also looking good previous red volume candles are small compare to the green ones.
We can see 20-25% upside in this stock.
Still it has pre-corona resistance at ~1873.
We have good support at 1700-1730 zone.
#TrendIsYourFriend
SUN PHARMA BREAKOUT WITH GOOD VOLUME DELIVERYSun Pharma is giving us good breakout here with good vol delivery with good support at 680.
Second RS is closing above 0 this is a good sign.
RSI also closing above 60.
If Nifty Pharma also gives us good breakout then we can see 30-35% up move in this stock. #TrendIsYourFriend
WELSPUN INDIA ALL TIME BREAKOUT | GOOD VOLUME DELIVERYBreakout from resistance of 102.32 with good volume.
Relative Strength is STRONG, with good support at 130.9.
It's heading towards 174.5 then 204.5 in short term and 234.5 then 264.5 in medium-long term. #TrendIsYourFriend
ETH$ - both ideasEthereum at this point is staying close to the 50 EMA after losing strength in holding the 30 and the 15 EMA. Although we are consolidating below resistance (bullish), the break of $3336 with an hourly close above that price would favour higher prices.
In failing to break $3289 shortly will result in a continuation to the downside, along with the crosses of the 15 and 30 EMA to fall below the 50 EMA. This will result in a drop to 3055.