Support and Resistance
INJ Long Swing Trade OpportunityMarket Context:
INJ has entering a key area of support, offering a strategic opportunity to ladder into a long spot trade. This swing trade setup allows for strong upside potential while maintaining clear risk management.
Trade Details:
Entry Zone: Between $22.55 - $23.50
Take Profit Targets:
$31.00 - $35.50
$45.00 - $50.00
Stop Loss: Just below $21.00
This setup provides an excellent risk-to-reward ratio for a swing trade as INJ consolidates within support, setting up for potential upside continuation. 📈
NIFTY 50 19th DECEMBER 2024 Yellow Zone
(24,285.45 - 24,259.40): This is a neutral or consolidation zone. If the price breaks above this zone with volume, it might move towards the Red Zone (Resistance levels).
Red Zone
(24,488.20 - 24,367.50): This acts as a resistance area. If the price reaches this zone, watch for rejection or a breakout above it for further upside.
Green Zones (Support levels):
24,086.40 - 24,049.00 (Upper green zone): Immediate support area; a break below this may push the price lower.
23,915.80 - 23,872.85 (Lower green zone): Stronger support, indicating a potential reversal zone.
NIFTY 50 18th DECEMBER 2024Key Levels
Support Levels (Green Lines):
24,222.50: A support area where the price bounced.
24,181.10: Another critical support level and Stop Loss (SL).
24,179.15: Very close to SL, showing the bottom of the current range.
Resistance Levels (Red Lines):
24,367.45: Immediate resistance where price previously rejected.
24,481.10: A significant resistance above, marking a key level of rejection earlier.
24,508.05: The upper resistance zone.
Current Price Movement
24,292.30: Price is currently at this level, slightly recovering from the low.
Price is trading within a box range (highlighted blue/green zone) between 24,181.10 (SL) and 24,367.45 (Resistance).
Trade Setup
Entry: Likely triggered at 24,222.50 (support bounce).
Stop Loss: Around 24,181.10.
Target: Immediate target resistance at 24,367.45.
This setup appears to have a Risk-to-Reward ratio greater than 1:2, which is favorable.
GBPUSD: Two Bearish ConfirmationsI spotted two significant bearish signals on 📉GBPUSD.
Following a substantial bearish movement, the pair began to gradually rise within a bearish flag pattern on the 4-hour chart.
Additionally, a double top pattern was formed within the boundaries flag
Today, the price broke through both the flag's support and the neckline of the double top, providing strong technical confirmation.
I believe the market could decline to 1.2664 soon.
NZDCAD: Bearish Continuation Confirmed? 📉 NZDCAD Update
Two major bearish patterns have developed on the 4-hour chart: a bearish flag and a double top formation.
Both the neckline of the double top and the support level of the flag have been broken.
A further decline is likely following a potential retest of these broken levels, with the next support target at 0.8179.
Nasdaq Futures Today: Short and Long Setups with Key LevelsExplore today's comprehensive analysis of Nasdaq futures for Wednesday, December 18, 2024. Here’s what you’ll discover:
📈 Market Overview: The Nasdaq remains bullish in higher timeframes, but corrections offer exciting opportunities.
📉 Short Setups: Key zones like 22,244 and 22,184 with targets offering 100+ points potential.
📊 Long Scenarios: Opportunities to ride the rally toward historic highs, including setups above 22,334.
This video is ideal for traders seeking actionable strategies and precise levels for both shorts and longs. Don't miss out on identifying high-probability entries!
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EUR/CHF Breaks Above Downtrend Line: What’s Next?The daily chart for the EUR/CHF pair has recently revealed a bullish movement, successfully breaking above its descending trend line. This development indicates a potential shift in market sentiment, occurring after the price touched a significant support level at 0.9250. The fact that the price has breached the downtrend line after reaching this support suggests a potential influx of buying pressure in the short term. Currently, the pair is trading near the horizontal resistance zone at 0.9400, which has been tested multiple times in the past.
Possible Scenarios
Buy Scenario:
With the price having broken above the downtrend line, sustained trading above 0.9400 could signal a bullish move in the coming days.
A stop loss could be placed around 0.9310 (approximately 90 pips below the current price).
For a more conservative approach, a stop loss could be set below 0.9240 (about 160 pips).
Take Profit Opportunities:
TP1 at 0.9490, near the recent high (about 90 pips).
TP2 at 0.9590, targeting the next resistance area (approximately 190 pips).
Alternative Scenario:
If the price fails to maintain itself above 0.9400 and retreats below the trend line, this could indicate a potential continuation of the downtrend. In such a case, a short entry could be evaluated around 0.9350:
Stop Loss: Above the high of the previous candle, at around 0.9420 (approximately 70 pips).
TP1: At 0.9250, which serves as significant support and a recent low (around 100 pips).
Important Technical Factors to Note:
Trend Line: The break of the descending trend line suggests a reduction in selling pressure.
Resistance Zone: The area between 0.9400 and 0.9450 will be a critical test for buying strength.
Strong Support: The 0.9257 level remains a crucial point that buyers have defended in prior downtrends.
Fundamental Considerations
Euro (EUR): The euro's strength is influenced by Eurozone economic data and the European Central Bank (ECB) decisions. The recent release of the Consumer Price Index (CPI), showing inflation at 2.2%, is close to the ECB’s target. This indicates that the ECB may adopt a dovish monetary policy in the short to medium term, which could negatively impact the euro's strength.
EUR/CHF is at a pivotal technical crossroads. The break of the descending trend line supports a bullish outlook in the short term, with initial targets set at 0.9490 and 0.9590. However, a failure to overcome the current resistance could see sellers regain control, with possible targets around 0.9300 and 0.9257. Traders should closely monitor price reactions to these critical levels before entering positions.
Disclaimer
74% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you understand how CFDs work and if you can afford the high risk of losing your money. Past performance is not indicative of future results. Investment values may fluctuate, and you may not recover your initial investment. This content is not intended for residents of the UK.
Intraday Levels for Nasdaq 100 Futures - 12/18/2024This analysis focuses on the Nasdaq 100 Futures, aiming to identify potential support and resistance levels where the price could experience intraday bounces or trend reversals, as well as zones where the price might potentially break higher or move lower.
Considerations
The range used in this analysis serves only as a reference for broader-level insights.
For intraday operations, it is advisable to utilize a lower timeframe to refine entry and exit points more accurately.
To confirm the validity of these levels, it is essential to evaluate real-time conditions as the price approaches these zones. Factors such as pressure, trading volume, and Order Flow will play a critical role in determining whether these supports hold or are likely to be broken.
NZDCAD: Bearish Continuation Now Confirmed?!The 📉NZDCAD has formed two significant bearish patterns on the 4-hour chart. I see a bearish flag pattern alongside a double top formation.
The neckline of the double top and the flag's support level have both been violated.
I anticipate that the market could decline further after a retest of these broken levels.
The next support level is at 0.8179.