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NZDJPY for new week bullish expectations NZDJPY after BoJ is rise rates, we are have strong bearish trend in last periods from 12.7 till 5.8. In last periods we are saw USD weakened and we are can see JPY is start stagnating. In the meantime ASCENDING CHANNEL is be created and on 28.8 price is make break of same. And in next day 29.9 price is break and crucial zone (90.500), zone is fresh breaked, bullish trend is not make to much here and for new week still expecting here bullish push till next zone. TP1: 93.000 (160) TP2: 94.000 (260) All best, here for comments, stay tuned!
Long
by DepaTrading
BTC - FINALLY - Bullish BREAKOUT? For the last few months, I've been preaching patience as we saw a multi-month correction play out, all as a part of the bigger-picture Elliot Wave playout. The charts are looking positive after some bullish action started showing up from yesterday. I'd be ready to say the corrective phase is finally over and we're starting the new impulse wave up IF Bitcoin can keep above this support level highlighted on the chart, around $63k. This would validate a successful Flag-Breakout / Pennant breakout pattern. However, if we close a daily UNDER this key support zone - it's likely that we're not there just yet. I'm still of the opinion we'll be on our way towards a new ATH close to December, as BTC loves Decembers historically. ______________________________ BINANCE:BTCUSDT
COINBASE:BTCUSDLong
by Crypto-Check-
UMA - Three D(r)ives Down PATTERNUMA is approaching an ideal buy-back zone whilst forming an important chart pattern - the Three Dives Down Pattern. This pattern goes by many names including Three Drivers, Three Drives Down and Three Dives Down (which is the one I prefer to use). This pattern is bearish for the SHORT term, but bullish for the NEAR and LONGER term. It's important to note that this analysis is from a macro timeframe, with the aim on identifying the key buy-back or re-accumulation zone. From the daily and lower timeframes, the price could easily increase by large amounts however, keep in mind we're looking for an accumulation zone not for swing trades in this post. ________________________________ BINANCE:UMAUSDT
by Crypto-Check-
#NIFTY Intraday Support and Resistance Levels - 21/08/2024🔔 Nifty Update for Today: 📈 Gap-Up Opening Expected: Expected Opening Level: Near 24700 Key Level: 24700 Potential Upside Target: 24850 Nifty is expected to open with a gap up near the 24700 level today. If the index sustains above this level after opening, we could witness a strong upside rally, potentially reaching up to 24850 during the session. 📉 Watch for Downside Risks: Critical Reversal Level: 24650 Support Level: 24500 However, if Nifty starts trading below 24650, downside movement may occur. The 24500 level will serve as an important support in today’s session.
NSE:NIFTY
by TradZoo
BTC Technical analysisThis 2-hour CRYPTOCAP:BTC chart is showing a classic inverse head and shoulders pattern, which typically signals a bullish reversal. We can see that the right shoulder is currently forming, and if the pattern plays out, the price target could be around $64,000. The RSI has dipped below the midline, indicating a brief pullback, but it’s still in a healthy range. The MACD is in a bearish phase, but it could be signaling a potential bottom. Keep an eye on the neckline around $59,000; if BTC can break above that, it could confirm the bullish move.
by Crypto_CAT1
Oil slips again and Geopolitical tensions rise In my last post about Oil, I said that "Oil has a good possibility to get back to the range of 83.50 and 84.50", but also "Oil had broken 3 LH's that were created between July 22nd, 2024 and August 1st, 2024". I also mentioned that "we can see a pullback in the ranges of 78.84 and 77.12". In my outlook at the top of the week, I said that I was on the buyer's side until price showed otherwise. Now, price is showing signs of not continuing buys but settling into seller's territory. In this latest out look, I'm going to give you my insight on where the market can possibly go going into next week. Around early 6AM, price broke the HL from last Friday that shot Oil up all the way to the 77.89 area on this past Monday. On Tuesday, price created the "M" formation signaling that sellers were now starting to step in that sent the market selling for the rest of the week. On today Friday, August 16th, Price hit a demand area that sent price shooting past the HL that i stated early in my typing. This could potentially mean that we are now in seller's territory for a minute depending on how the markets may move going into next week. We did leave a gap above after yesterday's sell movement that can send price back that way from Monday going into Tuesday depending on market conditions. I believe if price goes back that way it can be just to create a LH, IF price doesn't make buying structure. Right now my current outlook is bias until the market finds its footing from Monday-Tuesday. Amid Oil selling from the technical side, Oil is facing rocky streets from fear of the United States economy as investors are getting ready to brace for interest rate cuts and other things going on in different countries. From Fed Powell, to Iran retaliation, and to China's weak economy, Oil is in some unpredictable territory especially with a lot of geopolitical tensions rising. Next week news combined with technicals will give a greater outlook on Oil.
NYMEX:MCL1!
by eightyfourtrades
Buy ITC aggressively CMP 492, Target-580 within a month.Technically we see a formation and breakout of Bullish Pennant chart pattern. Also we can confirm its strength from being continuously above all the short term averages even in market downside. ITC is a star performer and our last buy call at the bottom price of 425 worked very well. At higher levels also, surprisingly again it is in buy radar after formation and breakout of a beautiful chart pattern. Last month Quant Mutual Fund bought ITC shares worth 3,669 crores. This is a big plus news as Quant MF are trending in MF industry due to their good buying decision and consistently outperforming the market benchmark returns. All the big institutions and Brokerage house already gave the target of 550 plus and technically it is confirming the same. We feel that still there is a lot of value unlocking left in this counter due to their multiple businesses working so well as compared to the peers in the respective industry and still it is just valued majorly on based of Tobacco business. Demerger going ahead is the key to value unlocking and this share can quote even value of 750-800 soon and this is not hypothetical figure but based on real possible valuation in near term as well. So, buy this stock aggressively and you might think that the stock in last month already gone up and you might wait for the dips which might cost you a good opportunity as the big hand may not give you the dips unless there is a big fall in nifty itself. With regards to Nifty, it can give strong positive contribution to nifty movement and support nifty if other nifty stocks correct.
NSE:ITCLong
by PrashantDahale
Descending Channel on USD/CHF @ D1This descending channel pattern has formed on the daily chart of the USD/CHF pair following a rising trend that lasted from the start of the year till May 1. 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 can be set to the low of the candle preceding the breakout candle. It's not shown SL isn't shown on the chart. I will ignore bearish breakouts from this descending channel formation.
Long
by AndriyMoraru
GOLD Breakout Imminent? Key Levels & Patterns to Watch Now!Technical Breakdown of XAUUSD Overview The chart depicts the price movement of Gold Spot (XAUUSD) against the US Dollar on the 1-hour timeframe, highlighting key technical patterns and support/resistance levels. The analysis aims to provide insights into potential price actions based on historical movements and current market conditions. Key Patterns and Levels Descending Channel: The price has been moving within a descending channel, characterized by lower highs (LH) and lower lows (LL). The channel is defined by two parallel trendlines (in white) that indicate a downtrend. The descending channel suggests bearish momentum as the price continues to make lower highs and lower lows. Support/Resistance Levels: Support/Resistance Inside Channel: A notable level within the channel where the price has repeatedly found support or resistance, marked by dashed horizontal lines. 4HR LQZ (Liquidity Zones): Two critical liquidity zones at 2447.5 and 2432.4, acting as major support and resistance levels. These zones are crucial as they represent areas where significant buying or selling activity has occurred. Highs and Lows: Higher High (HH): The highest point reached before the price entered the descending channel, indicating a peak in bullish momentum. Lower High (LH): The lower high within the descending channel, showing the continuation of the bearish trend. Daily Bull Flag: The price is approaching the upper boundary of a daily bull flag pattern (marked in yellow), suggesting a potential bullish breakout if the price can sustain above this level. Current Market Conditions: Support/Resistance Retest: The price recently tested the resistance level at 2474.9 within the 4HR LQZ and pulled back slightly, indicating the presence of sellers at this level. Potential Breakout: The price is attempting to break above the descending channel and the 4HR LQZ, which could signal a reversal of the downtrend if confirmed by sustained buying pressure. Additional Insights: Dollar Interaction: The inset chart shows the US Dollar index coming into a support/resistance level within its own channel, providing additional context to the gold movement. Market Sentiment: The overall market sentiment and external factors such as economic data releases and geopolitical events can also influence the price movement of gold. Conclusion: The XAUUSD is currently at a critical juncture, testing key resistance levels within a descending channel. A successful breakout above the 4HR LQZ and the descending channel could signal a bullish reversal, while failure to break these levels may result in continued bearish pressure.
OANDA:XAUUSDShort
by Adlercon333