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Buying Opportunity on NZDUSDThis week, I'm eyeing a potential buying opportunity on NZDUSD, and here's my trade plan: 1. Bullish 5-0 Pattern on Weekly Chart: The NZDUSD is currently in the zone of the Bullish 5-0 Pattern on the Weekly Chart, signaling a potential buying opportunity. 2. 4-hourly Chart Setup: The 4-hourly chart presents a candlestick confirmation at the Potential Reversal Zone (PRZ), indicating a possible entry point for long positions. 3. Confirmation with 3-Bar Reversal: Despite the candlestick confirmation at the PRZ, I remain cautious and will wait for further confirmation. I'm looking for a 3-bar reversal pattern, where the next candle closes above 0.6089 and retests the level at 0.6083 before considering a buying opportunity. By waiting for the 3-bar reversal pattern, I aim to ensure a stronger confirmation of the bullish momentum before entering the trade. What are your thoughts on NZDUSD? Feel free to share your trade plans and insights below! Wishing everyone profitable trading ahead!
Long
by RaynLim
Banknifty Bearish 🐻Wolfewave with Bearish Bat 🦇Bank Nifty Analysis: A Confluence of Bearish Signals Across Timeframes Our in-depth analysis of Bank Nifty across various timeframes reveals a compelling collection of bearish indicators, suggesting a cautious approach for investors. Among these, the Bearish Wolfe Wave patterns on both weekly and H4 charts stand out, alongside the activation of the Bat Action Magnet Move (BAMM), pointing towards a potential downward trajectory. Key Technical Observations: Bearish Wolfe Wave Patterns: The identification of Bearish Wolfe Wave formations in both the weekly and H4 timeframes suggests an imminent reversal from the current bullish trend to a bearish trend. Bat Action Magnet Move (BAMM): This phenomenon indicates that the price is gravitating towards a significant level of resistance, potentially marking a pivotal turning point for Bank Nifty. Proximity to Resistance Levels: The price is nearing a critical juncture as identified by Read the Market (RTM) analysis, specifically the Left Shoulder (LS) Kink, which aligns with a Maximum Pain Level (MPL) and a Minor Flag Limit (FL). This cluster of resistance reinforces the bearish sentiment. Anticipation of New Supply Formation: Although bearish indicators are prominent, the formation of a new supply zone is eagerly awaited. Predictions suggest a brief upward movement towards the BAT Pattern Recognition Zone (PRZ) and LS Kink, where new supply could emerge, setting the stage for a significant downturn. Elliott Wave Analysis: From an Elliott Wave perspective, the market is currently in a correction phase, with an expected follow-up of an impulsive decline mirroring the previous impulsive fall labeled as "A". This symmetry supports the forecast of a downturn, where "A" equals "C" in magnitude. Observation on Divergence: The current analysis notes the absence of strong divergence signals. This lack suggests that, despite the bearish outlook, traders might benefit from awaiting more robust divergence indications before positioning themselves. Conclusion : The aggregation of technical indicators, including Wolfe Wave patterns, BAMM, and resistance confluences, directs us towards a bearish forecast for Bank Nifty. However, a strategic pause is advised until the formation of a new supply zone and the emergence of stronger divergence signals are observed. This cautious stance will enable investors to make informed decisions, leveraging the detailed insights provided by this analysis. Visual Analysis Links: Daily Timeframe Analysis M15 Timeframe Analysis
NSE:BANKNIFTYShort
by Indyan
MKR is poised for a major breakout!Technical analysis shows: MKR is about to break through a key resistance level at $2969. RSI is coming out of the overbought zone, indicating that a price correction is unlikely. MACD shows that the strong uptrend is still in place. Recent news is also positive: Coinbase Custody will support the MKR token. Grayscale Investments has added another 25,000 MKR to its portfolio. The MakerDAO protocol is developing a solution for the DAI stablecoin with Bitcoin collateral. All of these factors indicate that MKR has strong potential for growth in the short term. Entry point: Buy if the price breaks above $2969 and stabilizes above this level Stop-loss: $2763 Target: Determine your risk tolerance before setting a target. Note: Do your own research and use a proper risk management strategy before entering any trade. Are you ready to enter the trade? Additional information: Timeframe: 4-hour chart Indicators: RSI, MACD Support: $2763 Resistance: $2969 Disclaimer: This analysis is for informational purposes only and should not be considered as trading advice. Always do your own research and consult with a financial advisor before making any investment decisions.
by rkazimi97
BAT/USDT A successful breakout the resistance, Bullish Momentum!💎 BAT has recently encountered significant market dynamics. Currently, BAT is confronting a resistance area after experiencing a substantial rebound from the demand zone. 💎 If BAT manages to break out above the resistance area, there's probability for the price to resume its upward trajectory and reach our target at the bearish OB area. 💎 However, if BAT faces rejection at the resistance level, there's a possibility that the price will retreat downward, revisiting the demand zone around $0.29 to gather momentum for another potential breakout. 💎 It's crucial for BAT to bounce when it reaches the demand area. Failure to do so, resulting in a breakdown below the demand zone, could signal bearish sentiment, potentially leading to further downward movement in price.
by MyCryptoParadise
4
Harmonic on Harmony x2 - Bullish Bat Long $ONELSE:ONE has completed a bullish bat and sprung above the prior resistance, which is a historical key level, it is now testing that resistance as support. It is possible that we go back down to the pcz of the harmonic to complete a type two return, hence why the stoploss is below that pcz. Having said that we are in an actionable area now so we plan to monitor it closely, potentially adding to our position should we retrace to the pcz. Daily is also showing potential bullish divergence.
Long
by SynergyTradingSetups
1