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NIFTY: "Josh" to "JOLTS"There are times, one suffers in finding the news to reason, then are times, too much news to bank on any one to justify. While bulls hate uncertainty, bear's love lots of conflicting news. It is mind over the matter as always. The same price action looks differently in bull markets and bear markets. One price many takers. JOSH, is the first of the Rectangle marking as part of wave (1), complete up move, dismay starting in 2020 Mar/April. Made every one MAD, narratives drawn, hold your breath for life. Oct 2021 till about start of the 2022 third Quarter, it is reality and then Start of Mar 23 it is once again euphoria, this time largely led by small and mid caps. The larger rotating rectangular shape. The circles size big are important, small are relatively important in term of trend line repect. JOLTS: The current move within parrell lines drawn from 2 is now under attack, potentially triggering move below 19300 (MPC hawkish tone?), extension to the large RED arrow drawn to the rotating Triangle low 18300 opens up the debate of bulls getting JOLTS. JOLTS is the US Job openings, that has come far higher than expected, data the FED does not want to see to pause, one more hike is priced in this year. The cuts won't happen before the last quarter of 2024. Our own PMI comes below 58, it is still strongest relative terms, but then markets would focus that on some other day. All agencies look for 6% plus growth. Damper is the inflation and soaring cost of borrowing. Private investment and Public Savings not helping either. These are not the information that is new, but that is how the markets choose to selectively pick to proceed. Dollar roars, INR dithers (crawls thanks to the continued support, but how long?). There is absolutely no way, the index looks higher, now that we see one more gap down probing and attacking the 19480 attempting towards 19300. At what state the Index postpones its inherent up move is when we lose 19300 on weekly basis. While it looks all gloomy, we have not yet lost this base. For the day 19400-19600 to work.
NSE:NIFTY
by sreebhashyam
Rectangle on AUD/USD @ D1This rectangle pattern (horizontal channel) on the daily chart of AUD/USD offers a potential bearish breakout opportunity following the general downtrend. The borders of the rectangle are marked with the yellow lines. My potential entry level is where the cyan line is. My potential take-profit level is at the green line. They are based on the rectangle width - 10% for the Entry line and 100% for the TP line. The stop-loss can be set to the high of the respective breakout candle (not shown on the chart) or to the high of the previous candle if the breakout one is mostly outside the rectangle.
Short
by AndriyMoraru
3
👑 GBPNZD 🗝️ LEVELS TO WATCH👀 AND WHY Hello Traders! 👋 It looks like it's time to refresh the idea in the British New Zealand (GBPNZD) pair. Since my last idea didn't turn out as expected, but no worries, I've got you covered. The price on the hourly chart is currently trading within a rectangular channel between the upper trend line breakout at 2.05294 and the lower trend line breakout at 2.04003. Here's the strategy: For Long Position (Buy): Enter a long position above 2.05294. Confirm the breakout with a surge in volume. Set the stop loss at the middle of the channel, which is at 2.04659. Target levels: Target 1: 50% at 2.05939. Target 2: 100% at 2.06582. For Short Position (Sell): If the price breaks out below the lower trend line at 2.04003 with a surge in volume, consider a short position. Set the stop loss at 2.04659. Target levels: Target 1: 50% at 2.03381. Target 2: 100% at 2.02731. If you find this idea interesting, please leave a like to support it, and stay tuned for my future updates.
by TradeChartPatternsLikeThePros
1
Gold Moving Average AnalysisAlthough I have shared a lot of analysis for gold these days, long-term investors actually do not need that much and complicated analysis. By using only two moving averages, we can have an insight into long-term gold investments. Gold has moved along these two moving averages since the 1970s. Here, I have shown arrows where the averages are used as support and resistance for a better understanding of the situation. Gold, which is currently priced around $1917, can be expected to drop as low as $1852. This decline will not mean an entry into the bear market for gold. Weekly closings below this level are considered bear markets. But since history, this moving average has always been decisive. (Weekly EMA 85) Around this level will be a buying opportunity for gold. In the case of an uptrend, an ascending triangle breakout seems possible. In bear scenarios that lasted for about 5 years, gold always remained above 350 RMA per week. This is a big indicator that gold is always rising in the long run. It fell below this level only between 1997 and 2002, but later recovered and rose above it. Therefore, it would not be wrong to take this level as a reference.
FX_IDC:XAUUSD
by YavuzAkbay
A Short Bounce Before a Long DivePG formed a rising wedge. After a double top formation when also RSI divergence came in (yellow line on RSI chart), PG's downtrend began. PG has broken out of lower trend line of the rising wedge, which will now act as resistance. PG has gone down for six straight days. During downtrend, stocks usually fall for an average of five straight days. There is a region of consolidation around 145-46 region (green rectangle). PG may, therefore, bounce from this region. However, it will resistance at 151-152 from the lower trend line of the rising wedge and the resistance consolidation zone (red rectangle). After hitting 151-152, PG should come down again. PG has gone below 200 SMA.
NYSE:PGShort
by RS3175
SHAREINDIA - 22 months RECTANGLE══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart. Thank you all for your support 🔎🔎🔎 ALWAYS REMEMBER "A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist" ═════════════════════════════ ⚠ DISCLAIMER ⚠ The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
BSE:SHAREINDIALong
by TheArtOfCharting
Bitcoin - 202% profit, next target 79959 USD! Bitcoin is absolutely ready for a massive uptrend to my profit target of 79959 USD! In this analysis, I will tell you why Bitcoin is bullish. First of all, we need to take a look at the weekly candles. The last weekly candle is a bullish engulfing candle. It means that the body of the candle engulfed the previous candle. Strong reversal signal, especially on the weekly chart! From the Elliott Wave perspective, we have completed the major wave (2) with a WXYXZ corrective pattern (triple three). Bitcoin is starting a new impulse wave (3)! Usually waves 3 are the strongest waves, and in this case, I expect the target to be at the 1.618 FIB extension of wave (1) => wave (2). The next bullish signal is the 200-week exponential moving average (EMA). As we can see, the price is holding this key dynamic support, and the bulls successfully defended it! This EMA is considered to have strong support or resistance by huge institutions and hedge funds. Now for a pretty important question: what are the resistances on the way up to 80k? It's definitely the 0.618 FIB + POC of the previous market structure, which is at 38984. Then 48234 as a previous swing high, and of course the previous all-time high at 69000. You can use these levels for a potential quick short trade on the futures market with leverage! The downtrend basically ended in January 2023 after breaking the major blue trendline. We also had a retest of this trendline in March 2023. The price in March was around 25k and now in September, the price is around 26k after 6 months of sideways price action. This is a great opportunity to buy/long Bitcoin, so you don't need to wait 6 months for boring price action! What do you think, guys? Are you ready for a massive bull market? Let me know in the comment section down below! I must know your opinion. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
BITSTAMP:BTCUSDLong
by UnknownUnicorn2537518
242
EURUSD: Potential Scenarios Ahead of FOMC 🇪🇺🇺🇸 Today, we are awaiting FOMC. Here are the potential scenarios for EURUSD. Bullish Scenario The price has recently reached a support line of a falling parallel channel and nicely bounced from that. Currently, the market is testing 1.07 horizontal daily resistance. IF the price breaks and closes above that on a daily, a bullish continuation will be anticipated at least to 1.0755 Bearish Scenario The market is currently consolidating within a horizontal range on a 4h time frame, bearish breakout of its support will give you a strong bearish confirmation. 4h candle close below 1.0672 will be a strong bearish signal. A bearish movement will be expected to 1.064 support then. I will discuss EURUSD and many other pairs on a live session today. Don't miss it! ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
2