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BANKNIFTYNSE:BANKNIFTY CURRENTLY DOESNT LOOK GOOD TO INVEST, LONG TERM TRENDLINE BROKEN. ONE SHOULD WAIT FOR FURTHER SUPPORT ON WEEKLY BASIS. LOOKS TOUGH SHORT TERM AND MID TERM !!!!!!! Note : 1. One should go long with a Stop Loss, below the Trendline or the Previous Swing Low. 2. Risk :Reward ratio should be minimum 1:2. 3. Plan your trade as per the Money Mangement and Risk Appetite. Disclamier : You are responsible for your profits and loss. The idea shared here is purely for Educational purpose. Follow back, for more ideas and their notifications on your email. Support and Like incase the idea works for you.
NSE:BANKNIFTYShort
by CreativeCreature
Stock Market Logic Series #13The double bottom and double top patterns are among the most powerful and reliable indicators in technical analysis. These formations provide traders with insights into potential trend reversals, making them valuable tools in a trader's arsenal. However, one must approach these patterns with patience and discipline to truly harness their power. Statistically, the price often does not move decisively on the first attempt, and waiting for confirmation can significantly improve the likelihood of a successful trade entry. A double bottom pattern occurs when a stock's price hits a low point, rebounds, and then retests the same low point before moving upward. This pattern suggests that the selling pressure is diminishing, and buyers are starting to take control. Conversely, a double-top pattern forms when the price reaches a high point, retraces, and then retests the same high point before moving downward. This indicates that buying pressure is waning, and sellers are gaining the upper hand. One of the key aspects of trading these patterns is patience. It's essential to wait for the price to confirm the pattern before entering a trade. For a double bottom, this means waiting for the price to break above the resistance level formed between the two lows. For a double top, it involves waiting for the price to break below the support level formed between the two highs. By waiting for these confirmations, traders can avoid false signals and increase their chances of entering a profitable trade. This is because you will not fall into the trap of HINDSIGHT backtesting and it is clear that an M or W happened. HINDSIGHT backtesting is that you have the hindsight advantage when you backtest, but you don't have it when you do REAL-TIME trading. FYI, TradingView gives you the ability to do a reply of bars ... This gives you the dramatic advantage of seeing if your trading rules are REAL-TIME approved. Patience is particularly crucial because, statistically, the price often makes multiple attempts to break through these key levels. Impatient traders who jump in too early may find themselves caught in a false breakout or worse an "imaginary breakout", resulting in losses. By waiting for the price to confirm the pattern, traders can ensure that the trend reversal is genuine and increase their odds of success. Imaginary breakout is when you imagine the price will do what you believe it will do, and it never does it. This cognitive error causes you to enter trades you would have never taken when you backtested your strategy. John Bollinger, the creator of the Bollinger Bands, recognizes the power of double bottom and double top patterns. Bollinger Bands are a popular technical analysis tool that measures market volatility and provides a dynamic range within which prices are likely to move. When combined with double bottom and double top patterns, Bollinger Bands can further enhance a trader's decision-making process. TradingView also functions as the best Trading Journal , I have my whole series of stock market logic ideas which I always refer back to. Also, you can add inside the journal idea a picture of the chart that is automatically stored and displayed on the TradingView ideas. What you see on the chart is a confirmed validated M-pattern (the pink is the manifestation of the pattern), then after it you see a period of "NOT LONG". This gives you a "TELL" that the probability of the rallies... they are fake. Then, you see a confirmed W-pattern (the pink is the manifestation of the pattern), then after it, you see a period of "LONG". This gives you a "TELL" that the probability of the corrections... they are fake. When YOU, yes YOU, "KNOWS" statistically, when a fake pricing happens... this is a very lucrative business opportunity...
NASDAQ:TTDEducation
by ZoharCho
GBPCHF: Potential Reversal from Resistance ZoneThe market is currently approaching a significant resistance zone, highlighted by multiple previous rejections. The current structure suggests a potential bounce from this area, followed by a move lower. This zone has proven to be a strong barrier in the past, and the overall market context supports a bearish scenario. My target for this setup is around 1.12785. However, I will remain cautious and monitor for any changes in volume or structure that could invalidate this idea.
Short
by DanieIM
$ABNB $110 target; head and shoulders forming 1MAlmost a beautiful looking head and shoulders forming here on $ABNB. Honestly, as I sit here now, will the Los Angeles wildfires have any effect on NASDAQ:ABNB negatively or positively? Will hotels get a boost? Let’s think about how many Air BNB’s got burned away in the Hills? Interesting. I don’t have any beliefs in NASDAQ:ABNB $110 is the target and looking at April 17th. Also another revelation occurring.. Robinhood has April 17th as an expiration date but that’s a Thursday. What is going on? WSL
NASDAQ:ABNBShort
by wallstreetloser001
GBPCAD - Weekly Forecast - Technical Analysis & Trading Ideas!Midterm forecast (Daily Time-frame): While the price is below the resistance 1.82310, beginning of downtrend is expected. Technical analysis: A peak is formed in daily chart at 1.82320 on 12/19/2024, so more losses to support(s) 1.79228, 1.78439, 1.76819 and minimum to Major Support (1.74790) is expected. Take Profits: 1.79228 1.78439 1.76819 1.75765 1.74790 1.72705 1.70900 1.69267 1.67670 1.65599 1.63703 1.60894 Short-term forecast (H4 Time-frame): A Head and Shoulder Reversal Pattern has formed and the neckline has also been broken. Price is touching the neckline again. It is very likely that the downward wave will start from this area. __________________________________________________________________ ❤️ If you find this helpful and want more FREE forecasts in TradingView, . . . . . Please show your support back, . . . . . . . . Hit the 👍 BOOST button, . . . . . . . . . . . Drop some feedback below in the comment! 🙏 Your Support is appreciated! Let us know how you see this. Have a successful week, ForecastCity Support Team
Short
by ForecastCity
9
The pattern identified in THE XRP BREAKOUT CHART continues...The pattern that I identified in mid-2024, where the price action forms a fair value gap followed by an 8-month candle pattern (3 + 5), and then breaks out on the 8th candle, is playing out exactly as predicted many months ago. This means that if the pattern, which has occurred identically four times thus far, repeats for a 5th consecutive time, we can expect an incredible period of price appreciation following the breakout of the 8th candle in the month of May 2025. I believe that around mid-April to early May, we will see a 'flash crash' type of liquidity run on the sell-side liquidity before the 8th candle breaks out as predicted. Prepare to be amazed! Good luck, and always use a stop loss!
BITSTAMP:XRPUSDLong
by MetaShackle
3
VIRTUAL’s Incredible Year: Is a Top in Sight??VIRTUAL has experienced a phenomenal rise in recent months, climbing to rank 36 in the overall crypto market with an impressive $3.7 billion market cap. This meteoric growth is a testament to the strong interest and momentum behind the project. However, as we approach the end of the year, there are signs that a potential top could be forming. Let’s analyse the chart and key scenarios to watch for in the coming weeks. Key Levels and Observations: 1.) Elliott Wave Analysis: The price action suggests we are completing the 5th wave of an Elliott Wave cycle, signaling a potential exhaustion of the current uptrend. Based on the Fibonacci extension of the last corrective wave, the 1.618 level is a critical resistance at $3.8134. A breakout above $3.8134 could open the doors to test the psychological level of $4. However, failure to break this level might confirm the end of the 5th wave and initiate a correction. 2.) Head and Shoulders Formation (Potential Setup): There are early signs of a Left Shoulder formation on the chart. If the price rejects at the 1.618 Fibonacci level, we could see the development of a Head and Right Shoulder, forming a bearish reversal pattern. Confirmation of this pattern would require a clear neckline and increased selling volume, signaling a trend reversal. 3.) Time-Based Correction: A correction could align with the broader crypto market trends as we head into early 2025. Given the potential for Bitcoin to drop to the 84K support zone, this could trigger a sell-off in altcoins, including VIRTUAL. 4.) Overall Market Sentiment: While the broader market has been bullish, a Bitcoin-led correction could drag down the entire crypto market. Altcoins often experience sharper corrections during Bitcoin downturns, which could result in VIRTUAL retracing some of its gains. Volume Analysis: Monitor volume levels at key resistance points (e.g., $3.8134 and $4) for confirmation of breakout or rejection. Market Correlation: Keep an eye on Bitcoin’s price action, as any significant movement could directly impact VIRTUAL and other altcoins. Note: These are my personal thoughts and interpretations of the current market conditions. Please take them with a grain of salt. The crypto market is highly volatile and further data and confirmations are essential before drawing definitive conclusions. Happy trading!
Short
by SiDec
3
BNB/USDT - (25-12-2024) G-Money's short version analysis basedBNB/USDT G-Money's short version analysis based purely on technical analysis only, no nonsense or "BS". I do totally ignore any fundamental analysis, technical analysis only BNB/USDT still possible that is going return to the Enter level ... It is not too late to enter at the right time... What do you think? Comment and share your thoughts please! Chart is itself explaining. Kept a "KISS" approach all the way ( "Keep It Simple, Stupid") & beginners friendly... ;) I do hope that nobody ignoring SL ( Stop Loss) ! Without it, It is a fastest way to loose hard earned money... PS: above technical analysis is done for the community & educational purpose only! It is not a financial advice. Just share my very own insight to it. Merry Christmas to ALL !
Long
by G-money2022
POLYMATH has some very interesting long-term upsideThere's potential here for a long term break-out. It's looking like there's a huge upside potential if we can break free of this channel. Perhaps, we've on wave 2 of the highest degree of trend with wave 3 ready to burst through the upper trend line. The sooner it does, the more violent we will go to the upsde. Let's keep a close eye on it as the longer the projection, the more there is likely to change. In any case, huge potential upside here. Follow for more.
POLONIEX:POLYUSDLong
by cryptechcapital
A rising Wedge Formation In the 4H - Short for Short Period.So even though Bitcoin is in the middle of a huge upward move markets always gave us the opportunity to make money in the middle of every strong trending moves. For now we got a rising wedge formation with a heavy pull back based on the news from the FED and the zone which is acting as a magnet support level got more confluence points including the strong demand zone, the horizontal support line of the 2 formed triangles and the 1.27 extension fib level on the higher timeframe. All this points and some other additional insights are included in this short video and enjoy watching it. Please do consider to do your own research before making any type of investments in any type of markets and I urge you to notice that this is not a financial advice at all rather a personal view point. Nathnael B.
Short
by cryptotalk_et