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Breakouttrading

GJ Breakout trade, Asian sessionToday's trade was a GJ short, in the Asian session at approx 00:30. The Price broke out of the range I set up and took entry on Close with SL above the breakout candle. However, before entering trade, I knew it was more of a risky trade with a lower probability of winning. When you look left for the target, there are no clear targets to aim for. The first target was right near the entry, but also wicked down further into the 2nd target. As a result not allowing for a clean set up. As the trade could have easily reversed in the other direction which it did after a while. Prior to entering the target, I knew I had to watch it closely and be ready to exit the trade at any point, as it may wick down into target range, but also reverse back up, as when you look left that is what occurred as well. As a result, this trade did not hit my TP, but had to be managed and closed with profit earlier. Always have to remind yourself markets repeat themself, but can also be unpredictable, better to take a small profit and survive for the next day. This is for education purposes only, not financial advice.
by GurjotFX
BTC/USD: Ready to Break the Channel and Soar to 100K Bitcoin (BTC) has been trading within a well-defined descending channel for the past few weeks, showing signs of consolidation. However, several key indicators suggest that BTC is preparing for a breakout, potentially leading to a significant rally that could push the price toward the highly anticipated $100,000 level. Bitcoin is on the verge of a significant breakout. All signs point to the beginning of a new bullish cycle, with a realistic path toward $100,000. Traders should watch closely for a decisive move above the channel, as this could mark the start of the next major leg up in BTC's journey. Risk Management: As always, set appropriate stop losses and manage risk carefully. Volatility is inherent in crypto markets, and while the outlook is bullish, it’s essential to stay disciplined. DISCLAIMER: This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading
Long
by cyhym
ICICI Lombard GIC Ltd. - Technical AnalysisPrice Action: The stock recently took support near the 0.5 Fibonacci retracement level around ₹1,892, bouncing back with strong momentum. This aligns with a visible bullish RSI divergence as the price formed lower lows while the RSI made higher lows, signaling a potential reversal. Key Levels (from Fibonacci): Resistance 1: ₹1,987 (61.8% Fibonacci level) Resistance 2: ₹2,127 (78.6% Fibonacci level) Final Target: ₹2,299 (Fibonacci extension, previous high) Support 1: ₹1,892 (0.5 Fibonacci level, current support) Support 2: ₹1,796 (38.2% Fibonacci level) Support 3: ₹1,677 (23.6% Fibonacci level) Entry, Stop Loss, and Targets: Entry: Around ₹1,940-₹1,950 (post breakout confirmation above ₹1,950). Stop Loss: ₹1,875 (below the 0.5 Fibonacci level and near recent support). Targets: Target 1: ₹1,987 (61.8% Fibonacci level) Target 2: ₹2,127 (78.6% Fibonacci level) Target 3: ₹2,299 (previous swing high) Volume and RSI Observations: The volume profile shows increased participation near ₹1,900 levels, confirming accumulation. RSI is recovering from oversold levels and shows divergence, supporting a potential bullish continuation. Conclusion: If the stock holds above ₹1,892, the bullish trend might continue toward ₹1,987 and higher targets. Maintain discipline with the stop-loss to manage risk effectively.
NSE:ICICIGILong
by AngshumanSaikia
XrpUsd - The beginning of the end?BITSTAMP:XRPUSD is actually attempting to invalidate my long term bullish case scenario. Trading cryptocurrencies in general is not easy. You always experience two digit moves in single days and drops of -10% are never easy to digest. Looking at the higher timeframes is key though, also on XrpUsd. XrpUsd is still trading in the triangle formation and retesting the last bullish inflection point. My general optimism tells me that we will see a bullish rejection here. Levels to watch: $0.42 Keep your long term vision, Philip - BasicTrading
BITSTAMP:XRPUSDLong
by basictradingtv
38
Crucial day for NAS100Today is a crucial day for the NAS100 index, as it faces a critical level at 21,245. The price action here will determine the short-term direction of the market. If NAS100 manages to break above 21,245, it could signal a continuation of its upward momentum, potentially reaching new all-time highs, with a target of 22,200 by January 2025. However, if the index fails to break this level and instead stays in a range-bound consolidation for a few days, the price may hover in the current levels, waiting for further clarity. A key support level to watch is 20,700; if the NAS100 refuses to fall below this price, the index could build enough strength to push towards the 22,200 target. On the other hand, if the index breaks below 20,700, it may retest the base of the channel at 20,517. A breach of this level could lead to further downside, with 19,500 as the next target, followed by 18,300. In the worst-case scenario, a breakdown could push the index all the way down to 17,400. Thus, today's price action is vital for determining whether the NAS100 will reach new highs or face a deeper correction.
FUSIONMARKETS:NAS100
by QuantumFusionWave
Voltas Ltd Technical Analysis1.Chart Pattern: The stock has been consolidating in a descending channel, with a recent breakout above the upper trendline of the channel. This breakout could indicate a bullish reversal if sustained. 2.Key Levels: Support Zone: ₹1,670 - ₹1,700 (highlighted area). Immediate Resistance: ₹1,732 (horizontal dashed black line). Target 1: ₹1,762 (short-term resistance). Target 2: ₹1,838 (medium-term resistance). Target 3: ₹1,926 (long-term resistance). 3.Indicators: RSI (14): Currently at 48.58, indicating neutral momentum. A move above 50 could strengthen bullish sentiment. EMA Levels: 20 EMA: ₹1,697 (stock near this level). 50 EMA: ₹1,720. 100 EMA: ₹1,670 (acting as strong support). 200 EMA: ₹1,517 (long-term trend support). 4.Volume Analysis: A significant spike in volume was observed during the breakout, supporting the bullish case. 5.Price Action: The breakout candle indicates buying interest. If the stock holds above ₹1,732, it could move toward ₹1,762 and higher levels. 6.Risk-Reward: Entry Zone: ₹1,700 - ₹1,732 (post-pullback to breakout zone). Stop Loss: Below ₹1,670 (key support). Target Range: ₹1,762 – ₹1,926. Trading Plan Bullish Scenario: A breakout above ₹1,732 and sustained momentum could lead to ₹1,762 and ₹1,838. Bearish Risk: If the stock falls back into the channel and breaks below ₹1,670, the downtrend may resume. Conclusion Voltas Ltd. is at a critical juncture, showing potential for a bullish breakout. However, confirmation above ₹1,732 is crucial for the upward move. Traders should watch volume and price action for further clarity.
NSE:VOLTASLong
by AngshumanSaikia
Ethereum on Breakout || an action pack analysis with logics Hey everyone, i hope you all will be doing good! Ethereum on Breakout, Let's discuss about this with logics:- Today we have seen falling Resistance trendline pattern breakout in all major timeframes, I am discussing here in weekly timeframe. Ethereum was facing resitance since march 2024 followed by june and july and finally it has given breakout successfully today. Many things i have already marked on chart. Let's go in some past of Ethereum chart, if you will check on chart it made all time high in nov 2021 at (4867.81) at that time chart was forming Head and Shoulder Pattern after that we have seen breakdown of H&S pattern in May 2022 and then price fell almost 64%, here i am talking from neckline breakdown to low at (879.80), according to the pattern of H&S neckline to head length was (56.67%) and it given target successfully in downside after perfect breakdown of H&S pattern. If we check from all time high (4867.81) in Nov 2021 to low (879.8) in june 2022 it fell (81.93%) and it started recovering in form of ascending triangle and we have seen that ascending triangle pattern breakout in Nov 2023 and then ethereum given one sided rally and risen almost (95%) and made high (4093) in March 2024. Now we have seen breakout in today's session. I am expecting it can take some resistance at march 2024 high (4093) and then next resistance we can see at all time high at (4867.81) and i believe we will breakout that as well after spending some time,,, Finally i am expecting 95% momentum from today's session in medium term and it can go towards 6900+ Let's discuss Some common news from the world:- Spot Ether exchange-traded funds (ETFs) in the US reached a new record for daily inflows on November 29. BlackRock, the world's largest asset manager, was responsible for $250.4 million of the total inflows. Ether ETF inflows were higher than spot Bitcoin ETFs, which brought in $320 million on the same day. This is the first time that Ether ETFs recorded higher inflows than spot Bitcoin ETFs on days when both saw inflows. Ether ETFs took in $224.9 million in net inflows over the four trading days between November 22-27, while spot Bitcoin ETFs tallied $35.2 million in net inflows due to a heavy day of outflows on November 25. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
COINBASE:ETHUSDLong
by TraderRahulPal
2
BANKNIFTY will go upwards a little moreDESCENDING RECTANGLE BREAKOUT - Banknifty has broken ou t of a strong rectangle pattern on 15 min chart with good confirmation GAP-UP BREAKOUT - The breakout occurred with a gap-up indicating strong upwards momentum SUPPORT FROM 30D SMA - apartfrom this it had also taken support from 30D SMA during the closing of the previous day indicating there is potential for upward momentum 5-MIN TIMEFRAME - the pattern and the breakout is even more clear on 5-min timeframe
NSE:BANKNIFTYLong
by peace_lover
NIFTY will breakout on the upside or downside soonRectangle Pattern Breakout - NSE:NIFTY is trading inside a rectangle pattern and will break out of the pattern anytime either upwards or downwards Rectangle on 5-min Timeframe - Above is the nifty chart on 5-min timeframe which more clearly shows that nifty is trading inside a perfect formed rectangle pattern Strong Resistance Level - Above is another image of nifty on 5-min timeframe indicating how the lower line of the rectangle had been tested 3 times already (including once yesterday) indicating the strength of the pattern Target - target will be 95 points away from the place where the market breaks out on the rectangle. Upside or downside breakout both seem equally probable at this point.
NSE:NIFTY
by peace_lover
1
PBI ready for a huge breakout to 12 and 16+This chart reflects a pivotal moment for PBI . A breakout above the $8.79 resistance and the downward trendline would be a strong bullish signal , with the potential to rally toward $9.92 and 12.11 and $16.06 in the mid-term. However, failure to break this level could result in consolidation or a retest of lower support zones. Monitoring volume and momentum indicators will be critical to confirm the breakout. W patterns are typically confirmed with a surge in volume as price breaks above the neckline. The W pattern sits within a falling wedge, meaning a breakout of the wedge would likely align with the W pattern's neckline breakout. This strengthens the bullish case. There appears to be a "W pattern" (Double Bottom) forming within the larger falling wedge. Characteristics of the W Pattern: Two Distinct Bottoms: The chart shows two prominent lows, one earlier and another more recent, which form the "legs" of the W. This indicates the price found strong support at similar levels. Middle Resistance Level: The middle peak between the two bottoms is near $8.79. A breakout above this level would confirm the W pattern, signaling bullish momentum. Neckline Confirmation: The neckline of this W pattern coincides with the $8.79 resistance level. If price breaks above this zone with volume, the pattern would complete, leading to an upward price move. Target: Target=Neckline+(Neckline−LowestBottom) In this case: Neckline = $8.79 Lowest Bottom = $5.47 Projected Target = $8.79 + ($8.79 - $5.47) ≈ $12.11.
NYSE:PBILong
by EssieQuantumTrader
CRM potential Breakout to 424+CRM is setting up for a classic bullish breakout trade, showing multiple strong technical patterns that align with a high-probability long setup. The short-term moving average has crossed above the long-term moving average, a strong bullish signal indicating sustained momentum. CRM has shown strong bullish momentum, confirmed by multiple technical patterns. Look for increased volume on the breakout above $348 to confirm the move. The trade offers an attractive risk-to-reward ratio of at least 1:3, depending on the stop placement. Ascending Triangle Higher lows are forming as buyers step in at increasing levels, while resistance remains flat at $348. This shows accumulation and strong bullish sentiment. Breakout Target: $348 + $76 = $424 Targets: First Target: $ 400 (psychological level). Final Target: $ 424 Trail stops once the first target is hit to lock in profits. I will enter this week a position (options) and will update this post accordingly.
NYSE:CRMLong
by EssieQuantumTrader
FILUSDT in our watchlist, Weekly Breakout ICT Long setup!👋Hello Traders, Our 🖥️ AI system detected that there is a H4 or higher timeframe ICT Long setup in FILUSDT for swing trade (a couple of weeks) Here is a swing trade idea (since it is near support surface, we should use small lot size) Please refer to the details Stop loss, Buy Zone,open for take profit. We are waiting for next Long setup after price discount in coming days. Crypto is highly risky, please do your own research on that coin before trading. For more ideas, you are welcome to visit our profile in tradingview. Have a good day! Please give this post a like if you like this kind of simple idea, your feedback will bring our signal to next better level, thanks for support!
Long
by ICT_Trader_SB