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Candlestick Analysis

Closing above Mother line & Pitchfork median line unsuccessful.Nifty tried hard to close above Mother line of 50 Weeks EMA and Pitchfork median line this week but was unsuccessful. Closing above 23433 is imperial for Nifty to gain a bullish momentum. Pitchfork is used to determine the long term trend of Nifty. In this particular chart the Pitchfork starts from 2021 and extends till 2026 end. The upper side has lot of potential as you can see the top is leading towards 32.5K+. Even the Median line is leading towards the target close to 29K. Supports for Nifty in the medium term because of the current bearish trend are at 22.8K, 21.8K, 21.2K, 20.2K and finally 200 Weeks EMA or the Father line at 19.5K.(This looks improbable as of now on chart as these levels are even below the pitchfork trend channel.) Usually the tops and bottoms of Pitchfork channel are not easy to break hence the worst case scenario as of now looks like 20.2K. Looking at the bigger picture IMF has declared a robust outlook for India for the next 3 years with GDP growing at an average of 6.63% for the next 3 years. (2025-6.5%, 2026-6.7% and 6.7%). However actual GDP growth can be much higher if the Government remains stable for a sustained period of time. The IMF estimates should be taken with a pinch of salt. Long term investors can utilise every fall to add some blue chips. Remain selective in Mid and Small cap space as the PE in some of the Mid and small cap companies are still at unsustainable levels even after this fall. For Bulls to be back in business we need a weekly closing above Pitchfork median and Mother line at 23433. Weekly Closing above 23433 would have potential to take us near 24.5K or even above 25.5K levels in the short to medium term. Closing below 22.8K can bring little more wait and pain for investors. Good effort by Nifty this week but closing was not good. We need a strong move next week for Bulls to be back to business. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. I or my clients might have positions in the stocks that we mention in our posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
HBAR Analysis and Future OutlookHello, Traders! The HBAR price demonstrated an impressive rally, surging by 850% in just one month, followed by a natural correction phase. After retracing over 35% from its local top, HBAR managed to recover all losses and established a new local high at the $0.4 level, showcasing strong bullish momentum. Current Price Dynamics: It appears that HBAR has already formed its local bottom, and the price is preparing for a potential breakout to higher levels. However, it has now entered a critical resistance zone ranging from $0.4 to its ATH, which currently stands at $0.575. Breaking through this zone will require significant buying pressure, but the token recent performance suggests that the market sentiment remains highly optimistic. Market Sentiment and Hype: With increasing hype and attention around HBAR, driven by its technological advancements and ecosystem developments, there's a high probability of the token achieving a new ATH within the next couple of months. Entry Points and Strategy: For those who missed the previous correction phase, it's advisable to wait for another potential retracement around the $0.3 level, which could provide a solid entry point. From there, setting targets above $0.6 would be a realistic strategy, given the current bullish outlook and market conditions. Key Levels to Watch: - Resistance: $0.4–$0.575 (ATH) - Support: $0.3 (potential retracement) - Target: $0.6 and beyond Please don’t forget to boost this idea and leave your comments below.
by Real_CryptoRoy
2
Silver could rise above 32 (1500+ pips target)In my previous analysis on OANDA:XAGUSD , I noted that the lack of bearish continuation following the break below the 30 level suggested a high likelihood of a false breakout. I anticipated that the price would most likely reverse to the upside, and this scenario has played out as expected. After breaking back above the 30 level and successfully retesting it, XAG/USD is now holding steadily above this important support. Additionally, the price has broken out of the falling wedge pattern by moving above the descending trendline. The morning star candlestick formation observed two days ago further reinforces the bullish outlook. Adding to the positive sentiment, a strong close today could result in a continuation pin bar on the weekly chart, further supporting upward momentum. In conclusion, the strategy remains to buy on dips, with an ideal entry around 30.30 and a target at the technical resistance above 32.
OANDA:XAGUSDLong
by Mihai_Iacob
10
Broadening HorizonsTrading the daily chart independently proved its worth in today’s New York session. Not only did I branch out into other pairs with confidence, but I also locked in profits on both the euro and Australian dollar. Today’s price action reinforced my strategy, and given that the futures broker I’m considering prefers to flatten trades by day’s end, my approach is simple: open fresh trades at market price and ride the momentum. The daily chart is the anchor—steady, reliable, and sharp.
CME_MINI:M6EH2025Long
by PointOneFx
GBPCAD Wave Analysis 16 January 2025 - GBPCAD reversed from strong support level 1.7490 - Likely to rise to resistance level 1.7700 GBPCAD currency pair recently reversed up with the daily Japanese candlesticks reversal pattern Hammer from the strong support level 1.7490, which has been steadily reversing this currency pair from the start of August. The support level 1.7490 was strengthened by the lower daily Bollinger Band and by the 61.8% Fibonacci correction of the upward impulse from last April. Given the strong daily uptrend, GBPCAD currency pair can be expected to rise to the next resistance level 1.7700.
Long
by FxProGlobal
Daily Market Watchlist Analysis by Skeptic📊 Navigating the forex and crypto markets requires sharp analysis and timely decisions. Today, I'll break down my forex daily watchlist , analyzing key indices and commodities to uncover potential trading opportunities. Let's dive in, starting with the U.S. Dollar Index (DXY). 💲 DXY Analysis Timeframe: Daily & 4H Daily Chart: DXY has shown a strong bullish trend, recently rejecting the 110 resistance level and pulling back to a key support zone. There's potential for a bullish rebound towards 110, or even a breakout for further upside continuation. Fundamental Insight : Current fundamental data shows balanced supply and demand, causing market indecision. 4H Chart: Five consecutive neutral candles suggest indecisiveness. It's wise to reduce risk exposure, limit the number of trades, and tighten stop-losses until a clearer direction emerges. Trading Plan: Bullish Scenario: If DXY breaks above 110 with momentum, look for USD long positions across pairs. Neutral/Bearish Scenario: Stay cautious; avoid heavy exposure until the short-term trend clarifies. 🥇 Gold (XAUUSD) Analysis Timeframe: Daily & 4H Daily Chart: Gold is correcting after its primary weekly bullish trend. Following a three-wave correction, it has resumed an uptrend within a rising channel, now facing significant resistance at 2718. A breakout could signal early entry for a move towards the 2789 high. 4H Chart: The ascending channel is more visible here. A potential pullback to the 2693 support zone could offer a solid buying opportunity. Trading Plan: Set a Buy Stop near 2718 with a safe stop-loss below the previous low or 2693. 📈 S&P 500 Index (SPX500) Analysis Timeframe: 4H After a bullish impulse reaching 5980, SPX500 is undergoing a healthy correction, signaling strength in the upward move. Watching for the RSI to revisit the 70 level and a resistance breakout for confirmation. For aggressive traders, the 5928 support zone offers a potential buy opportunity. Trading Plan: Conservative: Wait for RSI to confirm momentum and a breakout above resistance. Aggressive: Enter near 5928 with a tight stop-loss below the support level. 🚀Markets are showing signs of consolidation and indecision, making risk management crucial. Focus on high-probability setups and wait for clear confirmations before committing to trades. Which market are you focusing on today? Share your thoughts in the comments! ✍️I'm Skeptic , here to simplify trading and help you achieve mastery step by step. Let's keep growing together!
FXOPEN:XAUUSD
by SkepticWise
1
Potential Swing Trade on SoFiHello Traders, If you're a swing trader, SoFi could be a longterm hold. I would like to see a little bit of a retest back to the failed swing line, or back to the 4HR CHOCH pattern that was created before pushing back up. I'm also noticing price did gap around 15.00/15.50 on the Daily, so that could be a key area to take the long. The weekly also looks good as it's making its way to close above 7 weeks of candles. My profit targets would be 18.50 and potentially 20.00. I've said it before- A lot of patience is required for this pair, but it does pay! *DISCLAIMER: I am not a financial advisor. The ideas and trades I take on my page are for educational and entertainment purposes only. I'm just showing you guys how I trade. Remember, trading of any kind involves risk. Your investments are solely your responsibility and not mine.*
NASDAQ:SOFILong
by thattradergirl
GBP/JPY Bears in Control: Here’s Why You Can’t Miss This SetupWhat’s going on, everyone? It’s January 16, 2025, and we’re back with an update on GBP/JPY. Let’s dive right into the action. In this update, we’re reviewing the trade we entered midweek and breaking down why we’re still bearish on the pound versus the yen. We’re seeing lower highs consistently forming on the higher timeframes, and volume suggests that the bears are firmly in control. While the 190.05 area remains a key level for a potential weekly breakdown, we’ve already locked in 164 pips on our first take profit from the earlier trade. Reentries were strategically placed based on CPI reactions and pullback confirmations. Targets remain set at 188.93, 188.01, and a possible extension to 187.19 if the momentum holds. With consistent lower lows and lower highs on the H1 and H4 timeframes, this trade is shaping up beautifully for those who stayed disciplined and followed the setup. This isn’t just about signals—it’s about understanding the why behind the trades and using volume and structure to guide the way. Want to see the exact setups, volume plays, and key levels? Watch now to catch the breakdown in detail, and don’t miss the live trade results, including a $17,000 GJ win we just closed! Make sure to boost, follow, and share this with your fellow traders!
Short
by BlueOceanFxAcademy
2
Mastering the Bullish Engulfing PatternHello, Traders! 👋 Finding powerful reversal signals in a downtrend can be challenging, but what if a pattern was so visually striking that it's almost impossible to miss? Enter the bullish engulfing pattern – one of technical analysis's most reliable reversal signals. Today, we'll explore everything you need to know about the bullish, engulfing candlestick pattern and how to trade it effectively. What Is a Bullish Engulfing Candle? 🔍 The bullish, engulfing candlestick tells a compelling story of market psychology. After a downtrend, a small bearish candle appears, suggesting continued selling pressure. But then something dramatic happens—a powerful bullish candle completely “engulfs” the previous day's trading range, signaling a dramatic shift in market control. When asking, “what is a bullish engulfing candle?” think of it as a visual representation of bulls overwhelming bears in a single, decisive battle. The engulfing bullish pattern is particularly powerful because it shows not just buyer interest but complete buyer dominance. Identifying the Perfect Bullish Engulfing Pattern 🎯 On the left side of the chart, we can see the formation of the Bullish Engulfing pattern. This consists of a smaller red candle completely engulfed by a larger green candle that follows it. To spot a valid bullish engulfing candle pattern, look for these essential elements: A Clear Downtrend: Like any great comeback story, the engulfing bullish formation needs context. First Candle Characteristics: A relatively small bearish candle, showing the last gasp of selling pressure. The Engulfing Candle: The second day's bullish candle must completely engulf the previous day's real body, which puts the “engulfing” in bullish engulfing. Opening and Closing Prices: The engulfing bullish pattern requires the second candle to open below the previous close and close above the last open. On the right side of the chart, we can observe the Bearish Engulfing pattern. This formation shows the opposite scenario, where a larger red candle completely engulfs the body of the previous green candle. This pattern forms after several bullish candles, suggesting a potential reversal of the upward movement. Why Does the Bullish Engulfing Pattern Work? 📊 The power of the bullish, engulfing candlestick pattern lies in its psychology. When a downtrend is in place, sellers feel confident, but the appearance of an engulfing bullish candle represents a dramatic shift in market sentiment. This sudden change often triggers a chain reaction: Stop Losses Trigger (short sellers rush to cover their positions) New Buyers Enter (fresh capital flows in as traders recognize the reversal signal) Momentum Builds (the combination creates a self-reinforcing upward cycle) Trading the Bullish Engulfing Pattern: A Strategic Approach 💡 Successfully trading the bullish engulfing pattern requires more than just pattern recognition. Volume Confirmation: Look for higher-than-average volume on the engulfing day, confirming strong buyer participation. Support Levels: The pattern becomes more powerful when it forms near key support areas. Size Matters: The larger the engulfing bullish candle, the more significant the potential reversal signal. Overall Market Trend: The pattern carries more weight in line with larger timeframe trends. Market Conditions: Consider volatility and trading volume when assessing pattern strength. Bringing It All Together 🎓 The bullish engulfing pattern is one of technical analysis's most powerful reversal signals. By understanding its formation, psychology, and proper trading approach, you can add a valuable tool to your trading arsenal. Remember: successful trading isn't about finding a perfect pattern—it's about finding and managing high-probability setups. When adequately identified and traded, the bullish, engulfing candlestick pattern offers precisely that kind of opportunity.
WHITEBIT:BTCUSD
by WhiteBIT
1
Good Leap by Nifty today in anticipation of RIL/INFY results. Good Leap by Nifty today in anticipation of RIL/INFY results and closed 98 points up at 23311. Real test is the level of between 23377 (Mother Line) and 23398 (Important Resistance). This includes today's high and Mother line resistance and another important resistance. After closing above this zone the next resistances will be at 23469, 23598, 23736 and finally 23770 (Father Line resistance of Hourly chart.) Supports for Nifty on the lower side now remain at 23267, 23147 and 23053. If we get a poor result for Reliance these levels will be tested once again and there will be pressure on Bulls and Bears will again try to overpower Nifty. The tussle has reached a delicate stage now and thing can give. (Either a Breakout of Breakdown). Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. I or my clients might have positions in the stocks that we mention in our posts. We will not be responsible for any Profit or loss that may occur due to any financial decision.
NSE:NIFTYLong
by Happy_Candles_Investment
2