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#Ethereum Eyes Retest: #ETH/USDT Key Levels to Monitor#ETH/USDT situation, focusing on the potential retest levels due to decreasing volume and the formation of a bearish shark pattern: #ETH/USDT Analysis: Decreasing Volume and Bearish Shark Pattern Indicate Potential Retest Levels ### Decreasing Volume Volume is a crucial indicator of market strength. When the price of an asset rises while the trading volume decreases, it often suggests that the upward momentum is losing steam. In the case of ETH/USDT, the decreasing volume indicates that the buying pressure is weakening, which may limit the potential for reaching higher price targets. ### Bearish Shark Pattern The bearish shark pattern is a harmonic pattern that signals a potential reversal or correction in the price of an asset. This pattern typically consists of five points labeled as O, X, A, B, and C, and follows specific Fibonacci retracement and extension levels. For ETH/USDT, the formation of a bearish shark pattern suggests that the price is likely to face resistance and could be due for a retest at lower support levels. The bearish shark pattern, combined with the decreasing volume, strengthens the case for a potential pullback. ### Potential Retest Levels Given these technical indicators, ETH/USDT might retest certain key support levels: 1. **Retest Around $3,030** - This level has acted as a significant support in recent trading sessions. If Ethereum's price retraces, it is likely to find initial support around $3,030. If the price manages to hold at this level, we might see a temporary bounce or consolidation. 2. **Retest Around $3,025** - If the $3,030 support level fails to hold, the next critical support level to watch is around $3,025. This level has historical significance and could act as a stronger support. A retest at this level would be crucial in determining whether ETH/USDT will stabilize or continue its downward trend. #Conclusion #ETH/USDT is currently showing signs of potential weakness with decreasing volume and the formation of a bearish shark pattern. Traders should be prepared for possible retests at $3,030 and $3,025. Monitoring key technical indicators and market sentiment will be crucial for making informed trading decisions during this period.
BINANCE:ETHUSD.P
by crypto_vulture_signals
Opinion: NTPC - 400 MarkNSE:NTPC gains traction over a past few months. Company tends to improve the energy generation process and also exploring clean energy generation. For long term, NTPC holds value and growth potential - Energy demand for future will rise by considering consequent heat wave across India due to global warming effect. Also expansion of Industries, extra luxury celebrations, parties will add benefits to Energy production companies. * NTPC is a Top Indian Independent energy producer, with 25% of total market share of entire energy sectors. Trading Setup: * NTPC - May trade with the range of Rs.300 - Rs 400. My Reasons- After it crosses Rs.220 Mark, Volume starts to build up. So, current negative sentiment as of 28/Apr/2024 - put fear in overall market but NTPC holds with the range of 300-400. Breaking 300 is also a buying opportunity for every drops. Holding negative position can compensated through its high dividends. But I'm Long on NTPC which would break the upside 400.
NSE:NTPCLong
by uzumakisensi
1
Biocon-An underperforming pharma stockBiocon is among few stocks which did not participate in Pharma bull run. However stock has recently given a big volume bounce from its demand zone. 295-300 is an important zone to watch out for as it is a confluence of trendline resistance as well as 200 Week EMA. 1st breakouts are normally traps so use pyramiding to save your capital. If stock posts good results , we might see good move in stock. Keep your eyes stuck on this if you like support bounce trades.
NSE:BIOCONLong
by chartistamey
Comprehensive Analysis of Reliance Power Limited (RPOWER)Overview: Reliance Power Limited (RPOWER) has recently exhibited significant price action, forming a cup and handle chart pattern, which typically signifies a substantial bullish trend. Coupled with strong volume and positive indicators across multiple timeframes, the stock presents a compelling opportunity for investors. Cup and Handle Pattern: The cup and handle pattern on RPOWER's chart has matured over a span of more than 5 years, indicating a long-term bullish setup. A breakout from this pattern occurred recently, accompanied by substantial trading volumes, signaling strong buying interest. Elliott Wave Analysis: Elliott wave analysis suggests that the stock is potentially entering the 3rd wave of the 3rd wave, implying a powerful bullish move. This wave analysis further supports the bullish bias observed in the cup and handle pattern. Technical Indicators: Volume Confirmation: The retracement following the breakout maintained higher lows, with the cumulative volume of 10 candles lower than that of the breakout candle, indicating sustained buying pressure. Bollinger Bands: RPOWER is challenging the upper Bollinger Band on both daily and weekly timeframes, suggesting strong upward momentum. Trend Indicators: Positive crossovers on trend indicators across multiple timeframes signal a bullish trend. RSI and ADX: RSI supports the bullish bias, and ADX indicates increasing strength in the uptrend, with +DI confirming a bullish trend. Trade Strategy: Entry Points: Consider initiating long positions at current levels or on pullbacks, with potential entry points around the upper bands of the cup and handle pattern. Invalidation Level: Set the invalidation level below the last swing low, providing a clear risk management strategy. Price Targets: Upside price targets based on the cup and handle pattern suggest levels of 49+, 73+, and 99+ for Long Terms. Risk Management: Emphasize the importance of risk management techniques, including stop-loss orders and position sizing, to mitigate potential losses. Conclusion: Reliance Power Limited (RPOWER) exhibits a strong bullish setup, characterized by the cup and handle pattern, supported by volume analysis, Elliott wave analysis, and positive technical indicators across multiple timeframes. However, investors should conduct their own research and exercise caution, adhering to risk management principles. This analysis is for educational purposes only and does not constitute financial advice or trading recommendations. Disclaimer: This study is shared for educational purposes only and should not be construed as investment advice or trading tips. Investors should perform their own analysis and consult with financial professionals before making investment decisions. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:RPOWERLong
by RK_Chaarts
2
👑Bitcoin Analysis: Trading Amid Price Correction📉🔍Today is Tuesday, and it's a favorable day for trading. The cryptocurrency I'm analyzing today is Bitcoin. In the initial candle of the day, Bitcoin experienced a downward movement of around 6%, reaching a support level of $63,054. We need to observe its behavior in the subsequent candles around this support level. 🌊From a Elliott Wave Theory perspective, we've seen a reversal in the lower wave cycle on the 4-hour chart, indicating a minor downturn. However, in the higher wave cycle, Bitcoin remains predominantly bullish, and this correction appears to be a minor adjustment necessary for subsequent upward movements.It's important to note that these corrections on higher time frame charts can shape long-term trends, potentially providing profitable opportunities on lower time frame charts like the 4-hour. 💪The latest key level where price bounced back is around $68,100, forming a strong Potential Reversal Zone (PRZ). This zone coincides with the Point of Control (POC) indicator of the fixed range volume profile, the 0.38 Fibonacci retracement level of the downward wave, and the resistance line of the Elliott Wave Theory. Additionally, the golden cross of the SMA7, 25, and 99 further strengthens this zone. 📊The volume of red candles confirms the short-term downward trend but currently doesn't show any weakness. We need to monitor how the volume behaves in case of a correction. ✅For traders holding short positions, consider taking profits if the price finds support at $63,054. Otherwise, exercise patience and wait for a potential drop to $60,849. If the price sharply rises, take pleasure in your profits. For risk management, set your stop-loss if the sharp upward movement occurs, as it could happen easily due to the overall bullish trend. 📉If you don't currently have a position, wait for the market to establish a new structure before taking any action. If you're unable to wait for a new structure to form, consider opening a short position when the RSI enters oversold territory. However, be aware that this is a risky move. By considering these factors, traders can identify potential trading opportunities amidst Bitcoin's price correction. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
by itsparham96
GOODYEAR | Daily Chart | Golden ratio pullbackChart analysis: Pattern: Symmetric triangle pattern BO happened and re-testing of BO is happening. Breakout: BO of 1.5 years trend line and support is taken at 0.618 which is Golden Ratio . Volume: Volume action is clearly visible near breakout zone. Trade setup: Entry price: Close of 1400 price break candle. Stop loss: Below 1320. Target 1: 1512.5 Target 2: 1623.8 Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades
BSE:GOODYEARLong
by SanjogY
CENTURYPLYBIRLACORPN 52week breakout with volume rise and very important point is stock is retext & give a good support zone which is already broken resistant zone with h volume . respect SL ... like me of discipline trader large multicap company . .Company has delivered good profit growth of 19.3% CAGR over last 5 years holdings :-))) a) Promoters 73% b)FIIs & DIIs 20% c) Public 7 % for MORE check in my TradingView ID If You LIKE👌👌 MY Idea ......Boost.🔥🔥🔥.. its. "Disclosure : I am not Sebi-registered." This channel is for only educational purpose. Any profit/loss, I am not responsible. Before taking any trade on our charts / calls, please consult your financial advisors. Thanks🙏
NSE:CENTURYPLY
by asAMOLSUTAR
2
INGERRAND's chart magic unveil: A Technical Analysis Masterclass Hey traders and investors! Let's explore the exciting world of Ingersoll-Rand (India) Ltd today, NSE:INGERRAND incorporated in 1921 is engaged in the business of providing solutions for infrastructure development, industrial solutions and climate control markets. Today, the company has emerged as being amongst the largest exporters of engineered goods in India. We're going to take a closer look at its stock through technical analysis, trying to uncover what the future might hold by looking at the past. 📊 The Confluence of Patterns: A Rare Spectacle In the world of stock analysis, seeing several patterns break out at the same time is like discovering a treasure in the vast sea of stocks. We've found something special on the daily chart - a cup and handle, a triangle, and a rectangle all breaking out together. It's a rare and strong sign for those trading. The Cup and Handle Breakout : A classic bullish signal, the cup and handle formation suggests a continuation of an upward trend. The beauty of this pattern lies in its simplicity and the robust move that follows the breakout. Triangle Breakout : Triangles, often indicative of a consolidation phase, break out to signal the market's decision. The direction of the breakout provides us with clues about future price movements. Rectangle Breakout : Symbolizing a period of consolidation where supply and demand find equilibrium, the rectangle's breakout points towards the market's resolve to move higher. 🔍 Volume Speaks Volumes Volume is crucial in our analysis, acting like a storyteller for price movements. High volume on bullish days shows strong interest and buying, which is a great foundation for our predictions. Yesterday's price action, breaking out with convincing volume, lays the foundation for our analysis. 📈 The Retest: An Opportunity Knocks Today's price action offers a golden opportunity as it retests the breakout levels with low volume. This behaviour is a textbook example of a successful breakout where the price seeks to confirm newfound support at previous resistance levels. Such retests are invitations for entry, with a clear risk management strategy in place. 🎯 Setting Our Sights: Targets and Strategies The depth of the cup and the rectangle, mirroring each other, project a potential upside of 17%. Our goal isn't just to reach this target but to make the most out of the journey. Using trailing stop losses can help us catch the entire rally, turning a good trade into a great one. Lastly, thank you for your support, your likes & comments. Your engagement fuels our quest for trading excellence. Remember, the path to trading mastery is both thrilling and challenging. Let the charts be your map and your analysis the compass. "Embrace the journey, for every chart holds a story waiting to be told." Please note: This analysis is for educational purposes only and not intended as a trading or investment recommendation. I am not a SEBI registered Analyst.
NSE:INGERRANDLong
by AfnanTAjuddin
NATIONALUM | Multiyear BO | 16-years BO | Monthly ChartChart analysis: Pattern: Basing pattern is formed. Consolidation might happen near breakout zone after a big rally. Breakout: Basing pattern is broke the All Time High (ATH) price after 16 years. Volume: Volume action is clearly visible near breakout zone. Trade setup: Entry price: Close of 148.40 price break candle. Stop loss: Below Low of price breaking candle or previous candle. Target 1: 226.35 Target 2: 257.5 Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades
NSE:NATIONALUM
by SanjogY
GANDHITUBE | Weekly Chart | Rectangle Chart pattern | ATHChart analysis: Pattern: Rectangle pattern is formed when the consolidation takes place. Breakout: Rectangle pattern is breakout happened on 24-Jan-2024. Price might comes to 770 for re-test of the BO. Volume: Spike in volume in BO candle indicating big players are interested. Trade setup: Entry price: Between 769.45 and 802.85 Stop loss: Below rectangle pattern i.e., 654.95 Target 1: 957.80 Target 2: 1260.65 Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades
NSE:GANDHITUBELong
by SanjogY