Hello Traders, the NIFTY50 has declined to my target area @ 23038, and it's test of this boundary failed! It declined further to 22857 points. I have visualized the opportunity for a triple correction, counted w-x-y-x2-z! Probably the index is moving back to a wave 4 of lower degree, which is around 21821.45 area. Another target range could be @21137 for the coming one or two weeks. A break of the upper boundary of the channel opens the door to lower targets in the coming week. Note! A triple never ever doesn't morph within a trend channel! Keep that in mind! Anyway! The level of 23869.60 is the one who needs to be extended in the coming one or two weeks. If not, the index has the possibility to crash to new lows. From my view, I need to see a final "sell-off" in the coming one or two weeks, to clear the market and banish those shaky hands! Overall to speak, I guess we will see high volatility in the index and fast moving price! A gap down in the time ahead, one massive gap-down, has the chance to clear the market! So, don't be the last who grape a chair, while music stop's playing! Handle with care and be patient this day's! Otherwise, you will everything you have! Have a great week..... Ruebennase Please ask or comment as appropriate. Trade on this analysis at your own risk. Please ask or comment as appropriate. Trade on this analysis at your own risk.
? Chart Overview: EUR/JPY – Daily Timeframe This chart illustrates the price action of the Euro against the Japanese Yen and highlights a Falling Wedge Pattern developing over several months. This is a classic bullish continuation/reversal setup, supported by key technical levels. ? 1. Chart Pattern: Falling Wedge A falling wedge is a bullish chart pattern that occurs when the market consolidates between two downward-sloping trendlines. Characteristics Seen in the Chart: Converging Trendlines: The upper (resistance) and lower (support) boundaries are both sloping downward, indicating a narrowing price range. Volume (not shown) usually decreases during the formation, followed by a surge on breakout. Multiple Touch Points: The price action respects both boundaries multiple times, confirming the pattern's validity. ?️ 2. Key Levels ✅ Support Level (Demand Zone): Marked around 156.000 – 158.000 Multiple bounces from this area, indicating strong buying interest. Aligned with the lower wedge trendline and historical price reaction zones. ? Resistance Level (Supply Zone / Breakout Zone): Around 164.500 – 166.000 Price repeatedly failed to break this level, confirming it as a strong supply area. Confluence of horizontal resistance and the upper wedge boundary. ? 3. Trade Setup ? Entry Strategy: Confirmation Buy: Enter a long position upon a daily candle close above the wedge resistance (around 166.000). Aggressive traders may consider an earlier entry near the wedge’s support with a tight stop. ? Target: The projected target is 172.962, calculated based on the height of the wedge pattern added to the breakout point. This aligns with a previous swing high area, serving as a logical profit-taking zone. ? Stop Loss: Positioned at 155.576, just below the key support zone. This allows the trade room to breathe while protecting against a full pattern failure. ⚖️ 4. Risk Management Risk-to-Reward Ratio (RRR): Target around 172.962 and Stop Loss at 155.576 offer a favorable RRR of approximately 2.5:1 or more, depending on entry. Position Sizing: Use appropriate lot size based on your account risk tolerance (e.g., 1-2% of equity per trade). ? 5. Timeframe Outlook Medium to Long-Term Setup: Since this is a daily chart, the trade may take weeks to months to fully play out. Patience and proper trade management are essential. ? 6. Additional Notes Retest Opportunity: If price breaks out, look for a retest of the resistance zone as new support before continuation to the upside. Fundamental Factors: Keep an eye on EUR and JPY economic data, ECB and BoJ policy announcements, and global risk sentiment, which can influence the pair. ? Professional Takeaway This is a textbook bullish falling wedge pattern within a well-defined technical structure. The chart provides: A clear pattern breakout level, Strong historical support/resistance zones, A defined risk management plan, And a realistic price target based on technical projection. If you are a swing trader or position trader, this setup offers a high-probability opportunity with favorable risk-reward dynamics—provided a breakout is confirmed.
Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) : Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum. Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
We just bounced (convincingly) off the mean average price established over the last 10 days and we are currently accelerating further down as I write this. I am short this area, it has already moved into profit so I will trail this to it's conclusion. I think there is a high degree of likelihood we retest the swing low of $1.95 based in the continuing trend on the 1D chart.
According to my initial analysis, the NIKE share should initiate an upward trend reversal at 66-62 $NYSE:NKE. But now she start a reversal.
Crudeoil can make an upside pullback because on 15 minute timeframe it made a higher high and higher low. On higher time frame the crudeoil is bearish So we can look for short entry when crudeoil reaches monthly resistance level as explained in the video
Hi friends, Today, we are analyzing ATOM in the Daily time frame. As marked on the chart, we have a precise vital support level at $3.68. We had a 3-month accumulation box on the left side. The same accumulation box pattern is forming on the right side of the chart, which has lasted around 2 months so far. As mentioned in YouTube shorts, we have an important resistance level at the price of $5.045, which is a perfect entry for long positions. Meanwhile, the main daily resistance is around $5.7. We can look for short opportunities below $3.68.
as i analysis btc usd sell with good sl and tp entry BITSTAMP:BTCUSD
Overview of the Chart This chart displays a EUR/GBP daily timeframe setup, highlighting a Double Bottom Pattern, a well-known bullish reversal formation. The pattern consists of two consecutive lows at a similar price level, followed by a breakout above a key resistance zone. This setup suggests a potential trend reversal from bearish to bullish. Technical Analysis Breakdown 1. Double Bottom Formation (Reversal Signal) Bottom 1: The first low was established after a prolonged downtrend, where the price found support and bounced higher. Bottom 2: Price revisited the same support area but failed to break lower, indicating that sellers are losing strength and buyers are stepping in. A double bottom pattern signals that the asset is forming a strong base and is likely to move higher after breaking the neckline (resistance level). 2. Support and Resistance Levels Support Level (~0.8322): This level acted as a demand zone, preventing further downside. It marks the price area where buyers accumulated positions, leading to a reversal. Resistance Level (~0.8500): This level previously acted as a supply zone, where sellers controlled the price. A breakout above this level is crucial to confirm the bullish trend continuation. 3. Breakout Confirmation & Retest Expectation The price successfully broke above the resistance zone, confirming a bullish reversal. A potential retest of the broken resistance (now turned support) could occur before further upside movement. Traders often wait for this retest to confirm that the breakout is genuine before entering a position. 4. Price Target Projection Based on the measured move strategy, the expected target is calculated by measuring the height of the double bottom pattern and projecting it above the breakout zone. Target Price: 0.8742, aligning with historical resistance levels. 5. Stop Loss Placement Stop loss at ~0.8322 (below the double bottom support). This ensures risk is managed in case of an invalid breakout or a false move. Trading Plan & Execution Strategy ? Entry Strategy: ✅ Breakout Entry: Buy after the breakout above resistance. ✅ Retest Entry: Wait for a pullback to the previous resistance (now support) before entering. ? Risk Management: ? Stop Loss: Placed below the recent support at 0.8322 to limit downside risk. ? Take Profit: First target at 0.8742 based on the double bottom structure. ? Market Outlook: A successful breakout and bullish momentum could push prices toward the target. If the price fails to hold above the breakout zone, a deeper retracement could occur before continuing higher. Conclusion The EUR/GBP pair has formed a bullish double bottom reversal pattern, signaling a potential uptrend continuation. The key levels to watch include 0.8500 (resistance turned support) and 0.8742 (target projection). Traders should monitor price action around the breakout zone for confirmation and consider risk management strategies before entering a position.
https://www.tradingview.com/x/N3Sunpqu/ Take a look at our analysis for GBPUSD. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 1.289. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 1.326 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Like and subscribe and comment my ideas if you enjoy them!