PFC in a Higher High, Higher Low structure, bounced from the marked the trendline/channel once again. Structure is bulish, so can be tracked from here. Kindly follow and like to show some love to give me inspiration to post more trading ideas here.
If the resistance level is crossed then can be looked at long opportunity in Tata Motors
Good daily close today, VCP type structure breakout + Descending channel breakout + Volume surge + above 50 MA
Great news for Indian indices, Dollar Index breaking down
Breakdown and downtrend continuation in a descending channel for #ukoil keep tracking it for short term trading
Nifty can retest the lower channel line based on the bearish flag formation underway.
All that glitters is not gold! XAUUSD or Gold is in a downtrend and hurtling along in this down trending channel. Had updated about it in some of my previous posts too.
Using price and volume analysis and a bit of Wyckoff price action , we can see that there was a shorting opportunity in the afternoon at the retest. Had upthrust behind it and effort vs result too.
Bullish structure overall, volume is confirming the story. A variation of Cup and Handle pattern breakout is possible here. Energy stocks have been doing well lately, including other power sector stocks.
Curve Pattern breakout. Earlier also gave two Minervini Volatility Contraction Pattern breakout. Strong volumes too. Get that leverage over the market.
Descending channel can be seen here in Nifty 15 min chart, the edges of which can be helpful in short term trading.
SGX Nifty chart as highlighted with important support and resistance levels, is in a flag type structure. Price likely to consolidate in this trend channel/flag.
BPCL with a very interesting structure. Price contained in this descending channel and now has given a breakout from a VCP pattern and is now retesting the breakout level. Any strength in the stock around 330 levels can be a good buying opportunity.
Multiple bullish signs clearly evident in the chart - The structure of Higher Highs and Higher Lows - Price Volume Analysis showing clear bullish volumes (volume increase on up move and decline on down move) - Reversal Action and spike in volume at trendline support repeatedly - Price Action and slope of the buying wave and selling wave comparison - A Pennant...
As shown in the chart, there's a wedge pattern breakout in the background, followed by a range breakout with good price action and volume, good chance of the stock moving up.
Crude can consolidate here for now within the trading range, is seeing a reversal after a sharp dip few days back.
Bullish price action, shakeout bar behind us, price dipped recently only to find support at the level which I had drawn earlier
Resistance zone is clearly marked, above 420, if break happens with a strong bar with high volume, expect a good upmove