Necklace Pattern = KECLMy favorite "Necklace Pattern" is getting unfolded in "KECL" on monthly Time Frame. In fact, this Kirloskar Group is seriously re-vamping all its group companies & it's evident in their charts as well!
Referring Monthly TF on BSE Chart since NSE has limited data to study for this scrip.
Cheers!
Chartpatterntrading
Descending Channel on NZD/CAD @ W1A descending channel has formed on the weekly chart of the NZD/CAD FX pair and offers a bullish breakout opportunity. The pattern's borders are marked with the yellow lines. The potential entry level is at the cyan line. The potential take-profit level is at the green line. The stop-loss is to be set to the low of the breakout candle (or to the low of the preceding candle if the breakout one is trading mostly outside the channel) - it isn't shown on this chart.
Bitcoin Bullish long trade signal 5-5-23Bitcoin Bullish Long Trade Signal 5-5-23
s. triangle break
Long 29,487
sl 27,500
tp 33,382
rr 1:2
tf Daily
Margin100%
lev 13X
PROFIT MARGIN 150%
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Will the Uptrend Continue or Reverse at 1.0900? Let's Find OutHey traders,
Looking at the EURUSD chart, we can see that the market has been in an uptrend short term. However, the market was unable to sustain its momentum above the 1.1100 level, and traders took their profits at this level, causing the market to move downwards.
It is possible that the market may continue to move down towards the 1.1000 level, which coincides with the trendline support.
At this point, I am not suggesting shorting the market as long as it stays above 1.0900 because we are still trending upwards. If the market tests this level, it could be an opportunity to look for a buy entry.
Remember to follow and like this post for more exciting trading insights. Don't hesitate to share your thoughts in the comments section below. 🚀
USDCHF (Price action)Usdchf has been between 0.88389 (demand level) to 1.0068 (Supply level) . price currently at the demand zone forming a double bottom (reversal chart pattern). Price approaching a bearish trendline. Looking forward to the break of the trendline. Will go long upon a retest of the trendline
NVDA: Powerful Bearish Rejection.• Yesterday, NVDA did what seems to be an Exhaustion Bar, a massive bearish candlestick around a support level, far from its resistance, after the pullback was already materialized;
• Today, we see a bullish reaction, and NVDA is bouncing away from its support at 263, and it is breaking the 21 ema as well, trying to reject a very bearish scenario.
• The 263 is a very important support level because it is the trigger point of a Double Top chart pattern. By losing this key point, the 244 would be our next stop, and NVDA would reverse the bull trend. We already discussed this possibility in my previous NVDA analysis (link below this post);
• The trend is still bullish, as NVDA isn’t doing lower highs/lows yet;
• In the weekly chart, NVDA has been moving sideways for five weeks now, but it has yet to hit its technical resistance at 289;
• In theory, NVDA could correct to the 21 ema in the weekly chart and this wouldn’t ruin the long-term bullish bias;
• So far, the situation is under control and NVDA is still above its key support line.
I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
W9.1-19 FRONT BULLISH IDEA (DOUBLE BOTTOM)Potential Bullish Entry Dow Theory In Place - Higher High and Higher Low Expected in Place Formation of DOUBLE bottom coupled with bullish divergence (Bullish reversal pattern) SL & TP Levels are defined.
SINGER | Wave Projection | Major 4-Wave Triangle - MACD GoldenXThe price is currently trading just below 200SMMA as the key resistance under the assumption that its major 4-wave triangle breakout could be possible with double bottom pattern and MACD golden cross.
This bullish scenario has the downside is -8% and the upside is +10 - 20% with RRR: 1.5-2:1.
W9.1-6 APE BULLISH IDEA (HARMONICS BULLISH PATTERN)Potential Bullish Entry
Dow Theory In Place - Higher High and Higher Low Expected in Place
Formation of Harmonic Bullish reversal Pattern coupled with bullish divergence at potential reversal zone (PZR)
Entry at the new HH
SL & TP Levels are defined.
W9.1-5 ROSE BULLISH IDEA (HARMONICS BULLISH PATTERN)Potential Bullish Entry
Dow Theory In Place - Higher High and Higher Low Expected in Place
Formation of Harmonic Bullish reversal Pattern coupled with bullish divergence at potential reversal zone (PZR)
Entry at the new HH
SL & TP Levels are defined.