Candlestick Analysis
Global Markets crack fearing Trump Tariff plans.Global markets cracked downwards today fearing the tariff imposed by the new Government in US. The action has strengthened already strong USD$ as US is trying to flex it's financial muscle. How long this strength in USD can sustain is a question as it is looking far away from support having given an ATH against Rupee. The Tariffs as of now have been imposed by US on Canada, Mexico and China but other countries can also receive a similar treatment including India. So that space has to be watched continuously.
Under such global perfect storm Nifty actually did pretty well to close at 23361 after making a low of 23222 which is a remarkable 139 points recovery. This might be due to the Budget announcements. There is also a talk that RBI might go for a rate cut. This can further give some strength of Financial and Banking and some other stocks. Global factors and FII selling are the main issues along with strength of Dollar that are hampering the Indian market. The results so far have been below par compared YonY but better than some market experts expectation. So even on that front it is a mixed bag.
Supports for Nifty are at: 23222, 23136 and 22976. If we get a closing below 22976 Nifty can fall in a total Bear territory and fall further to 22797, 22316 or further down.
Resistances for Nifty are at: 23381, 23555, 23618 (Father Line Resistance), 23660 is the (Mother line Resistance). After we get a weekly closing above 23660 we can think of getting back to the more bullish territory of 23745, 23883 and finally 24K+ zone. Shadow of the candle right now seems to be neutral to negative.
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. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational 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.
GBPCAD LONG Market structure bullish on HTFs 3
Entry at both Daily and Weekly
Weekly rejection at AOi
Previous Weekly Structure Point
Daily Rejection At AOi
Previous Daily Structure Point
Around psychological Level 1.80000
H4 Candlestick rejection
Rejection from Previous structure
Levels 6.85
Entry 105%
REMEMBER : Trading is a Game Of Probability
: Manage Your Risk
: Be Patient
: Every Moment Is Unique
: Rinse, Wash, Repeat!
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US500 Trade insight Price breaks above December high 6102.21 so I believe we are currently on a retracement to 5901.87 for continuing to the upside.
If the ISM manufacturing PMI news happening at 10:00 UTC-5 NY push proce to my POI then I'll stick to my buy bias but if it pushes price to the upside without getting to my point of interest then I might look for a short sell from 6024.40 down to my Poi for buy.
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DOLLAR INDEX (DXY): Does The Market OVERREACT?
It looks like Dollar Index is preparing for a retracement
after a very bullish market opening.
As a clear sign of strength of the sellers, I see
a head and shoulders pattern on an hourly
and a breakout of its neckline.
The market may drop at least to 108.6
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Possible buying opportunityRisky trade with a low probability of 60-65% but high reward trade. The market already broke through and is now retesting if we get a bullish confirmation on the HIGH then we can place our buys with tight Stop-loss(below the area) and our TP on the Major Key Level(Black lines)
XAU/USD Feb '25 OutlookJanuary we have Gold in Bull trend towards the Chinese New Year which is very common. I think it will be due for a pullback, as seen by a sell-off during Asian session.
We have a candle displacement, taking liquidity at $2790 and now a retracement back.
The first week of February will be full of economic news from PMI, NFP and England's Bank Rate. I expect some volatility and will take 1-2 setups, probably avoiding Thu and Fri.
Long trade
4hr TF overview
Buyside trade 1
Sun 2nd Feb 25
LND to NY Session AM
11.00 am
Entry 0.000015469
Profit level 0.000017276 (11.68%)
Stop level 0.000015273 (1.27%)
RR 9.22
Reason: overnight drop (12.82%)
Whykoff narrative: I assumed we reached the Selling climax..?
Indicative of a buyside trade.
Observed 4Hr TF
Bitcoin (BTCUSD) - End of January AnalysisBitcoin and the Stock index market are amazing for comparing how fundamental news impacts these asset classes.
Both markets don’t have a strong correlation when we look at the price charts but the biggest thing they have in common is Artificial Intelligence meaning any negative news that is released will affect the price of both classes classes.
We have seen weakness on the weekly timeframe with the chance of a draw down into a discount below $90,000.
EUR/USD - End of January AnalysisA lot more indecision on the monthly timeframe, closing bullish inside of the previous monthly candle.
Does this signify a possibility for a short term rally?
In this analysis, I cover the possibilities of a retracement back inside of the weekly range or a continuation into the higher timeframe arrays.