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ASX Aims 8% HIGHERAXS is showing bullish price action. Price has moved up to the next major resistance level. Once we break this trend line, I will then switch my bias to bullish and look to enter a long. It is looking good after a sweep of the lows. Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
by Navitility
FTM Bullish After Breakout!FTM has broken out of the massive trendline and has now reclaimed the Anchored VWAP. if this bullish price action continues, we can see another 25% increase in price to the VAH. The POC is the next major resistance so if you enter a long that would be a great TP1. Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
FLong
by Navitility
🥇GOLD - Why is gold likely to fall?GOLD may continue its decline as the metal is loaded on the resistance side. Bears are a bit stronger than buyers at the moment. The market continues to test support areas, which in all likelihood may lead to a decline in the medium term Reasons for further declines: 1) Downtrend 2) Dollar support, index is rising 3) Price is not updating highs, but updating lows 4) PDL retest is forming, another test may break the level 5) Capital flows to other assets, US Indices (dollar SP500), gold may fall even lower
OANDA:XAUUSDShort
by AndeWave
Is this the start of bull run in IRFC?Irfc was consolidating right from its listing in 2021. However, few months back, it gave a huge breakout from its supply zone of 25 to go upto 37 levels. It has recently given a retest of same level and going up to test the levels of 37 again. If 37.1 is broken, a higher high, higher low trend can be confirmed on weekly basis and it will indicate that a bull run might finally start in IRFC. Definitely, a safe bet for long term considering the huge developments taking place in railway field.
NSE:IRFCLong
by chartistamey
Breakout-Retest Strategy implemented for shorting GBP/USDThe forex strategy that I use primarily is based on chart patterns and candlestick formations. The process begins with identifying support and resistance levels and determining the overall trend direction from the H4 (4-hour) chart. Subsequently, this analysis is refined on the H1 (1-hour) and M30 (30-minute) charts to gain a more comprehensive view of market dynamics. The reason behind this multi-timeframe approach is to ensure that we have a clear understanding of the critical price levels and trend dynamics. Relying solely on a single timeframe, such as the M30 chart, can be limiting as it may not reveal the full extent of significant resistance areas or the broader trend context. The central element of this strategy involves marking and monitoring trendline breakouts, while also considering support and resistance levels. We need to start by drawing trendlines on either the H1 or M30 chart, depending on the timeframe that provides the most clarity for the particular trade setup. Once the trendline is established, we need to patiently wait for the price to break this trendline. It's essential to distinguish between a genuine breakout and a false breakout (fakeout). A price may momentarily break the trendline but then quickly revert within it. To confirm a legitimate breakout, we need to use a specific criterion i.e. the candle that breaks the trendline must close outside of it. Moreover, the subsequent candle should close above the highest price point of the previous candle that initially broke the trendline. This confirmation ensures a stronger indication of a sustained move in the breakout direction. Once a valid trendline breakout is confirmed, a horizontal line is marked at the breakout level (1.27393). This acknowledges the tendency for prices to retest back to the breakout zone before continuing their move in the breakout direction. This retesting phase is an important component of this strategy. However, it is important to note that a trade is not executed immediately during a retest. Entry signals are confirmed by closely observing the M5 and M1 charts. As the price approaches the breakout zone, it typically forms higher highs and higher lows (in the case of an upward breakout) or lower highs and lower lows (in the case of a downward breakout). To initiate a trade, we need to look for a reversal pattern on the M1/M5 chart. In the trade above, the price has broken the upward trendline at the price level of 1.27393. Then based on the M5 chart, it can be seen that the price is retesting to the breakout level above and forming higher highs and higher lows (HH-HL). We need to wait until the price touches the breakout line and breaks the HH-HL pattern by forming a lower high. At 1.27309, price made a high lower than the previous high after retesting and touching the breakout level. This indicates a reversal and a confirmation for entry. The MACD indicator with 12-26-9 settings is used to mark the highs and lows more accurately in the M5 chart. The green histogram bars indicate bullish momentum and red histogram bars indicate bearish momentum. This is an important indicator for this strategy as marking the highs and lows accurately is crucial to identify the reversal. The trade was entered at 1.27236 upon confirmation of the LH and reversal in M5 chart (after touching the breakout level): In this strategy, a crucial aspect is the use of a 1 to 1 reward-to-risk ratio, and it typically involves aiming for a take profit (TP) and stop loss (SL) of 50 pips each. These TP and SL levels are established with careful consideration of the support and resistance zones identified during the initial analysis in higher timeframes. The importance of these zones lies in their ability to impact trade placement. For instance, when opening a buy trade, if there's a significant resistance level above, whether identified on the H4, H1, or M30 timeframe charts, it's essential to set the TP below that resistance level. This approach is taken because price movements often encounter rejection at such resistance levels, making it crucial to secure profits before reaching that level. By following this TP and SL levels, the trade hit TP with a profit of 50 pips.
Education
by zeem22
1
FTSE 100 Big triangle from 2023 breakout and retestOn the Daily chart for FTSE 100, we can observe a massive triangle that was forming in 2023. It started in Februaty and produced a breakout in December. For the past few days the price has been correctign and now it's retesting the resistance of the triangle, now acting as a support. This support is aligning with the 0.382 Fib and the 200 SMA The development on it is very important. If the price provides a reversing indication in the following hours, this can be a nice entry for a trade that can target the previous swing high at around 7750 - 7770 and bossibly higher
CAPITALCOM:UK100
by RTED_Investing