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Candlestick Analysis

Go ahead and try shorting gold!Bros, due to the renewed tension in the geopolitical situation and the surge in risk aversion in the market, gold has risen sharply in the short term, and the current highest has reached around 2618. However, the continuity of the gold market, which has risen due to news stimulation, remains to be seen! And from the chart, although gold has risen strongly, it still faces resistance in the 2720-2725 area in the short term. This is the last line of defense in the bear market, so it is not easy for gold to continue to break through. If gold fails to successfully cross this resistance area, then after consuming the bullish momentum to a certain extent, gold may retreat again and retest the 2700-2695 area. So in terms of short-term trading, I will still not give up shorting gold. I will still try to add positions to continue shorting gold based on the 2720-2725 resistance area! Do you think gold will pull back? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
OANDA:XAUUSDShort
by Trader_Marvin
ATOM- BULLISH MOMENTUMEyeing Altcoins Near Their March 2024 Highs BINANCE:ATOMUSDT I focus on setups where altcoins are approaching their potential March 2024 peaks. These trades are straightforward in strategy but challenging emotionally, as we can expect turbulence and liquidation cascades along the way. Bullish Arguments PMH being disrespected PML being disrespected PWH being disrespected PWL being disrespected PDL being disrespected PDH being disrespected Bearish Arguments: 4H swing high being respected 4H swing low being respected Trade Management I keep a tight SL to protect capital in case the market hunts liquidity. If stopped out, I’ll reassess and re-enter if price action confirms. TP is around the March 2024 zone, but partial profits may be taken earlier. A Word of Caution As futures trading intensifies, we’ll encounter frequent liquidation cascades and stop hunts. This is where discipline and resilience truly matter. The hardest phase starts now. Trade wisely, stay focused, and take care.
Long
by Jaytradermb
POLKADOT - Strategic Patience for the Next MovePolkadot: Strategic Patience for the Next Move I've been holding Polkadot since $5.82 and still have my trade open. While I haven’t taken profits yet, this time I plan to secure gains once it approaches $10 again, as I anticipate a correction around December 18th. This pullback could last until December 23rd, where I aim to significantly increase my position. 📈 Scalping Opportunities: For now, patience is key. However, scalpers will find plenty of opportunities leading up to December 17–18. Be vigilant during those dates, as volatility may spike. 💡 Swing Trading Insight: Any swing trades entered on December 23rd or the early hours of the 24th could offer exceptional returns. ⚠️ Key Advice: Always stick to your plan. Don’t let greed cloud your judgment—secure partial profits to maintain liquidity. From January onward, the market's psychological and analytical demands will increase. Be prepared and don’t get distracted by noise. 🔑 Closing Thoughts: This market rewards discipline and foresight. Stay sharp, stay humble, and remember: the best opportunities often come to those who are patient and prepared. May your trades be fruitful. God bless you. —Jay
Long
by Jaytradermb
1
XauUsd target done. What's next?As expected, the 2655–2660 resistance zone gave way, and after a confirmed breakout, OANDA:XAUUSD moved higher, surpassing the initial target of 2685 and hitting a local high above 2700. The price then formed a double top around the 2704 level (5m chart) before entering a normal correction phase. During this pullback, it tested the 2675 zone, which held as a strong support area due to its confluence. Currently, Gold is showing signs of resuming its upward trend and is trading around 2693. My outlook remains bullish as long as the 2670–2675 support zone holds. For now, buying during dips remains the best strategy. If the price can break back above 2700, the next key resistance to watch is at 2718.
OANDA:XAUUSDLong
by Mihai_Iacob
1
ETHEREUM - BULLISH AFEthereum: A Technical Masterpiece with a Psychological Challenge Ethereum's price action showcases remarkable technical precision. However, the real test lies in managing emotions: impatience and impulsive decisions often lead traders to quick losses. 📈 Projection: Expect a steady climb toward $4,300 until around December 17–18. At that point, a correction of -15% to -30% is likely, though the exact scale will depend on market conditions. 📅 Key Date: By December 23, ensure your positions are set. As the market evolves, navigating increased difficulty will require discipline—this phase is not for the unprepared. 📊 Comparison: The current price movement mirrors Ethereum’s 2020 trend, proving that while history doesn’t repeat, it often rhymes. ⚠️ Plan Ahead: Approach the market with a clear strategy. Maintain well-defined entry and exit plans, and avoid emotional decision-making. Recklessness has no place here. 🚀 Looking Ahead: January promises explosive growth, likely peaking around mid-month. This period demands focus and resilience—those who stay disciplined stand to benefit the most. 💡 Takeaway: Ethereum’s journey is more than just price action; it’s a test of patience and strategy. Stick to your plan, trust the process, and let the market work for you. 💼 Upcoming Trade: I’m about to open a new trade, which I’ll share with you here—just like the one I posted at $3,100. Now’s the time to make money and stay laser-focused. Don’t hesitate to follow me and keep an eye out for updates! Stay sharp, stay grounded, and may the odds be in your favor. God bless you. —Jay
CRYPTO:ETHUSDLong
by Jaytradermb
2
Ethereum time to shine-Swing trading LONGEthereum: Your Time to Shine BINANCE:ETHUSDT Ethereum, it’s your moment. You’re in a prime setup for traders, where psychology is playing a crucial role. As Bitcoin consolidates sideways, Ethereum is retesting a key zone, preparing for what could be its true breakout. This is your time to shine. Remember, this is not financial advice. Always use a responsible risk management strategy. My trade is targeting the ATH zone, where I plan to take profits and wait for a similar setup to reposition myself strategically
Long
by Jaytradermb
2
Good consolidation by Nifty. Getting ready for another jump?The positive close today and the movement inside the star is indicative of a small or medium jump before it takes another break for consolidation if Nifty can continue to hold ground and close above critical resistance of 24743. Crossing and closing above 24743 is very important for this to happen. If we get a closing above 24743 the next resistances will be at the levels of 24904, 25240 and 25514. 25514 region looks again like a strong resistance zone which will require another consolidation or strong Bullish momentum to cross that zone. If Nifty is not able to close above 24743 then the current rally can become weak or we can even see fizzling out of the same. In such a scenario the supports for Nifty will be at 24422 (50 EMA Strong Mother line support on daily candle chart), 24294 and 24100. Below 24100 there is a strong support zone between 23907 Star base support, 23648 (200 days EMA very strong Father line support on daily chart), 23187. (Which is a very very strong support as it has the star bottom coinciding with Channel bottom support.)(This seems to be the worst case scenario as of now in unlikely circumstances). If you want to learn more about charts, Candle stick analytics, Fundamental analysis, Mother and Father line importance, How to book profits, how to find a balance between Technical and fundamental analysis through Happy Candles Numbers, understand behavioural Finance and other interesting topics by learning which you can make your money work harder you should read my book THE HAPPY CANDLES WAY TO WEALTH CREATION which is available on Amazon in paperback and kindle version. E-version of the same is available on Google Play Books too. The link to purchase the book is available at the bottom of this page in the signature section. 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. 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. 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.
NSE:NIFTYLong
by Happy_Candles_Investment
EURUSD Wave Analysis 11 December 2024 - EURUSD reversed from resistance zone - Likely to fall to support level 1.0450 EURUSD currency pair recently reversed down with the long-legged Doji from the resistance area between the upper daily Bollinger Band, pivotal resistance level 1.0610 (former multi-month support from April) and the 50% Fibonacci correction of the downward impulse from the start of November. The downward reversal from this resistance zone started the active minor downward impulse wave 3. Given the strength of the aforementioned resistance area and the clear daily downtrend, EURUSD currency pair can be expected to fall further to the next support level 1.0450 (low of the earlier minor correction b).
Short
by FxProGlobal
GBPCAD Wave Analysis 11 December 2024 - GBPCAD reversed from strong resistance zone - Likely to fall to support level 1.8000 GBPCAD currency pair recently reversed down from the strong resistance zone located at the intersection of the upper daily Bollinger Band and the key resistance level 1.8100, which has been reversing the pair from September. The downward reversal from this resistance zone stopped the C-wave of the previous ABC correction (B) from the end of November. Given the strength of the resistance level 1.8100, GBPCAD currency pair can be expected to correct down to the next round support level 1.8000.
Short
by FxProGlobal
Continue to buy goldAs I mentioned in my last article, gold will continue to rise. We went long on gold near 2662 in the last transaction and closed the transaction by hitting TP: 2676 for profit, easily earning 140 Pips, a very successful transaction! At present, gold has risen to a maximum of around 2679, breaking yesterday's high in one fell swoop. The hourly level M top suppression has been ineffective, and the rising pattern remains intact. At present, gold still has the momentum and space to continue rising, so gold may still rise or even try to touch around 2690. , then we can just follow the trend and go long gold in trading. Of course, we can't chase gold directly, but because gold has a small retracement space during the rise, we can't expect too much retracement before going long on gold, and the short-term support area has moved up to the 2670-2660 area, so we can go long on gold based on this support area. Bros, do you continue to be bullish on gold with me? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
OANDA:XAUUSDLong
by Trader_Marvin
Gold- 2655-2660 zone remains key for bulls on medium-termLast week's price action was mostly range-bound, characterized by sharp spikes in both directions but lacking a clear trend—challenging conditions for medium-term swing traders. In my last two posts, I shared a moderately bullish bias and even managed a sniper entry at the NFP low. However, Gold failed to sustain upward momentum, so I opted to close the trade with a modest 100-pip profit. Looking at the bigger picture, bulls have shown resilience around the 2620 level. Even last night’s losses were quickly reversed after the market opened, which is another encouraging sign for bullish momentum. That said, a critical resistance level around 2655 continues to cap any medium-term uptrend. For a more substantial move—potentially 400-500 pips—this resistance must be decisively broken . I maintain my bullish outlook and will look to enter on dips. If and when the price breaks above the 2655 resistance level, I plan to double my position to capitalize on the potential upside. However, a daily close below 2620 would invalidate this scenario and prompt me to reassess my strategy.
OANDA:XAUUSDLong
by Mihai_Iacob
9
The weekly chart of Aditya Birla Capital Ltd The weekly chart of Aditya Birla Capital Ltd. (ABCAPITAL_1W) on the NSE showcases a significant trendline that has been acting as a robust support level. This trendline, drawn from the lows of late 2022 to mid-2023, has been a critical area where the price has oscillated multiple times, indicating its importance as a support zone. Recently, the price approached this trendline, testing it multiple times with several candlesticks closing near or on this line. The last few weeks have seen the price bouncing off this support, with three consecutive green candles indicating a potential reversal or at least a pause in the downtrend. This series of green candles suggests renewed buying interest as investors might see this trendline as a buying opportunity. Today, the price broke through this trendline, which could signal either a continuation of the downtrend if the price closes below this line or a false breakout if it quickly reverses back above it. Given the recent green candles and the historical significance of this trendline, there's a possibility that this could be a buying opportunity for those who believe in the stock's long-term potential. Volume analysis shows a spike in trading activity around the time the price touched the trendline, which often indicates increased market interest and could precede a significant move. If the price sustains above this trendline, it might attract more buyers, potentially leading to an upward trend. Conversely, if it fails to hold above the line, it could see further declines. Overall, the chart suggests that the trendline has been a critical level for ABCAPITAL, and its recent interaction with this line could be pivotal for short-term traders and long-term investors alike.
NSE:ABCAPITAL
by stocktechbot
Mother Line supported Nifty to bounce back from day's low. Nifty made a high of 24677 but then felt heat of the resistance and fell over 167 points until Mother Line supported Nifty to bounce back from day's low. Nifty closed flat to slightly negative at 24610. Closing -8.95 points in the negative. Closing above Mother line again is a positive sign with indices like Realty, IT, PSU Banks, Metal, Finance, MNC, FMCG, services ending in the positive. The laggard indices were PSE, Auto, Pharma, Consumption, Capital Goods, meida, infra and Energy. Nifty Supports remain at: 24584, 24501 (Mother line support of 50 Hours EMA), 24328 (Father Line support of 200 Hours EMA), 24172 (Mid channel support), 24005 and finally 23869 closing below which bears can take control of Nifty. Nifty Resistances remain at: 24641, 24693, 24759, 24858 and finally 24981 (Chanel top resistance) Above 24981 closing there can be another massive bullish breakout in Nifty. 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. 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. 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.
NSE:NIFTYLong
by Happy_Candles_Investment