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Technical Analysis

NIFTY INTRADAY LEVELS FOR 10/10/2024BUY ABOVE - 25060 SL - 24970 TARGETS - 25120,25180,25230 SELL BELOW - 24970 SL - 25060 TARGETS - 24890,24800,24700 NO TRADE ZONE - 24970 to 25060 Previous Day High - 25280 Previous Day Low - 24970 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:NIFTY
by Jagadheesh_JP
6
DreamAnalysis | Gold Analysis Key Levels and Future Trends✨ Today’s Focus: Gold (XAU/USD) – A Key Market Asset We’ll explore recent price movements and offer insights into potential future trends based on significant market levels. 🚨 Previous Analysis Recap: In our last analysis, we anticipated a reversal or at least a retracement lower, which has occurred. Now, we’ll dive into the current price action and analyze all possible scenarios for both bullish and bearish movements. 📊 Current Market Overview: Currently, the price has reached a crucial sell-side level, the previous week’s low (PWL), serving as a key liquidity zone. The price is also resting around two 4H Fair Value Gaps (imbalances), indicating respect for these levels. We will discuss how to approach these imbalance zones in both bullish and bearish scenarios and what we can expect from price action. 🕓 Key Levels to Watch: Here are the vital zones we’re monitoring: - PMH: Previous Month High - PML: Previous Month Low - PWH: Previous Week High - PWL: Previous Week Low - BSL: Buy-Side Liquidity - SSL: Sell-Side Liquidity - 4H FVG: Fair Value Gap (imbalance zone) These levels are critical for identifying where price may accumulate liquidity or rebalance. Fair Value Gaps (FVGs) indicate areas where the market may retrace to gather orders before continuing its trend. 📈 Bullish Scenario: For a bullish entry, we’ll focus on lower time frames (LTF) now that we’ve broken below the Weekly Low (PWL). The ideal bullish scenario would involve the price continuing to drop, taking out the Sell-Side Liquidity (SSL) marked above the 4H Fair Value Gap. Once we tap into that Fair Value Gap, we’ll look for entry points in lower time frames, targeting the buy side of the chart. 📉 Bearish Scenario: For a bearish outlook, we need to see a Buy-Side Liquidity (BSL) level taken out. Alternatively, we could look for a bearish entry point within the 4H bearish Fair Value Gap, targeting the sell side of the chart. 📝 Conclusion: Stay adaptable to changing market conditions. By closely monitoring these key levels and potential scenarios, you can refine your strategy and identify promising opportunities. 🔮 Looking Ahead: Stay tuned for updates as we monitor the NASDAQ, DXY, EUR/USD, and other major currency pairs. Expect timely insights as market trends develop. ⚠️ Disclaimer: This information is for educational purposes only and does not constitute financial advice. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
OANDA:XAUUSD
by DreamAnalysis
Gold Faces Major Resistance, Risk of Deeper DeclineGold is currently fluctuating around $2,614.145, sitting below key resistance levels at $2,650.165 and $2,624.195. These are significant barriers that buyers need to break through to sustain the upward momentum. However, with the EMA 34 and 89 lines positioned above the price, selling pressure remains dominant, reinforcing the current downtrend. If these resistance levels cannot be breached, gold may face a deeper correction, potentially falling to the support level of $2,604.393 and further down to $2,576.672 if selling pressure persists. Geopolitical tensions in the Middle East, along with key economic news from the U.S., are fueling strong market volatility, making investors increasingly cautious.
OANDA:XAUUSD
by Zola_Hello
Will the revealed labor data continue to support USDJPY?Macro theme: - The latest Sep NFP, Unemployment Rate, and Average Hourly Earnings have all surpassed market expectations. As a result, the CME FedWatch Tool shows that the 32% probability of a 0.50% rate cut in November has been eliminated, shifting the odds toward a likely rate freeze instead. - Japan's newly appointed economic minister expressed support for further interest rate hikes as long as they do not destabilize the economy or markets, signalling confidence in the BoJ's approach. - The yen's outlook remains uncertain, influenced by the robust US labor market and ambiguity surrounding the BoJ's potential rate hikes. Technical theme: - USDJPY quickly recovered from the previous downtrend and closed above both EMAs, indicating a solid upward momentum. - If USDJPY extends its gain to close above 149.25, USDJPY may retest the resistance around 152.00. - On the contrary, a failure to close above 149.25 may prompt a temporary correction within 147.30-149.25 until an apparent breakout occurs. Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
Long
by DatTong
NIFTY INTRADAY LEVELS FOR 09/10/2024BUY ABOVE - 25060 SL - 24980 TARGETS - 25120,25180,25230 SELL BELOW - 24890 SL - 24980 TARGETS - 24800,24700,24600 NO TRADE ZONE - 24890 to 25060 Previous Day High - 25060 Previous Day Low - 24800 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:NIFTY
by Jagadheesh_JP
6
XAUUSD: The Downtrend Continues!Currently, we are witnessing a recovery attempt in gold after testing the psychological support level at $2,600. It is clear that sellers were unable to push the metal below this important level, as gold found new support at $2,605, showing signs of a steady recovery since yesterday. Looking ahead, gold prices have paused their earlier declines in preparation for the Fed meeting on Wednesday. The US dollar has maintained its gains, supported by rising Treasury yields, amid geopolitical tensions in the Middle East and China’s woes. Meanwhile, gold appears to have stalled near the key support level at $2,630, with the daily RSI indicating room for upside. However, on the 4-hour chart, the downtrend remains intact, with significant resistance around $2,650. Therefore, I still believe XAU/USD will continue to trade lower, with a potential target set at $2586.
OANDA:XAUUSDShort
by Bentradegold
BANK NIFTY INTRADAY LEVELS FOR 09/10/2024BUY ABOVE - 51340 SL - 50920 TARGETS - 51650,51820,51990 SELL BELOW - 50920 SL - 51160 TARGETS - 50600,50300,49930 NO TRADE ZONE - 50920 to 51340 Previous Day High - 51340 Previous Day Low - 50300 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:BANKNIFTY
by Jagadheesh_JP
XAUUSD: Support Holds, Breakout Ahead?Looking at XauUSD's 4 -hour chart, we can see that the price is being blocked by the decreasing resistance line and there is no clear breakthrough through this level. EMA 34 (yellow) is currently acting as a short -term resistance close to the current price, while the EMA 89 (blue) continues to be below, supporting the price if the batch occurs sharply. An important support area (purple area) has been determined from 2,630 to 2,645, this is where the price has reacted in previous times. This area can be a point to track the purchase signals if the price continues to decrease and touch this area. Scenario 1: If the price continues to be resisted from EMA and the resistance line decreases, the price may check the support area again. There will be a possibility of a batch from here, creating opportunities for the buyer. This is supported by the potential "Double Bottom" model, which can be clearly seen in case the price check the support and maintain. Scenario 2: If the price can break the resistance line above, especially when closing the candle above 2,652, this will be a strong signal for the continued trend of increasing and opening the potential to 2,670 or higher.
OANDA:XAUUSDLong
by Bentradegold
USDJPY Set to Surge Higher – Targeting 150.00?Dear traders! USDJPY is currently maintaining a fairly steady uptrend, hovering around 147.64 despite a slight 0.34% adjustment downwards during the day. In my personal view, this correction is largely due to the pair encountering the upper boundary of the short-term rising channel. However, upon closer inspection, technical factors such as the rising wedge and the EMA 34.89 remain strong, indicating that the appeal of this pair is far from over. Considering these factors, Ben’s personal opinion is that USDJPY will likely continue its upward momentum, with a potential target around 150.00. Wishing you all successful and prosperous trading!
Long
by Bentradegold
1
UNI Futures Analysis: Key Triggers Amid Bullish Momentum✨ Welcome to Today's Uniswap (UNI) Futures Analysis In this analysis, I’ll be examining the UNI token, highlighting potential entry and exit points for futures trading based on both daily and 4-hour timeframes. 🥸 About Uniswap (UNI) Before diving into the charts, here's a quick overview of Uniswap. As one of the largest decentralized exchanges (DEX) in the DeFi ecosystem, Uniswap operates on Ethereum and its layer-2 solutions, facilitating asset swaps and enabling users to earn through liquidity provision. The platform's native token is UNI, which I'll be analyzing today. 📅 Daily Timeframe Analysis On the daily chart, UNI hit a peak of $15.398 before beginning a downtrend, culminating in two major bearish waves that brought the price down to $5.59 support. Throughout this decline, volume steadily decreased, with a notable high-volume selloff candle at $5.59 signaling the start of a corrective phase. The price then climbed to the $7.667 resistance, where it was rejected once but is currently making another attempt to break through. 📊 Concerns Around Decreasing Volume A key issue during this phase is the declining volume on both buying and selling sides, suggesting a lack of active participation from both bulls and bears. This may indicate that large investors or "whales" are temporarily pulling funds from UNI, reducing its attractiveness for spot buying. 🔽 Stop-Loss Strategy for Existing Holders For current holders looking to manage risk, I recommend setting a stop-loss if the price falls below the $5.59 support level. A close below this zone could lead to further declines toward $4.816 and $3.868. Personally, I would trigger my stop-loss on a confirmed candle close below $5.59. 📈 Futures Trading Triggers For futures trading, a breakout above $7.667 could be a good long entry trigger, with targets at $8.668 and potentially as high as $11.983. If the RSI moves into overbought territory and holds, we might see a strong price surge as market excitement builds. 📉 Short Position Triggers On the short side, a break below $6.369 is a valid trigger, as this level has been tested twice before. A third touch and break could offer a solid opportunity for momentum traders. Another short trigger lies at $5.59, and if the price settles below this level, a sharp drop may follow. ⏳ 4-Hour Timeframe Analysis In the 4-hour timeframe, UNI has been trading within a range of $5.59 to $7.829. Trading within this box requires careful risk management, as the price could move unexpectedly before a position is activated. 📈 Long and Short Triggers on the 4-Hour Chart For long positions, a break above $7.387 within this range is a suitable trigger, targeting the top of the box. On the short side, a break below $6.511 would be a valid trigger, aiming for the bottom of the range. 📝 Bullish Momentum Prevails Currently, bullish momentum is stronger than bearish, as reflected in Bitcoin’s price action. As long as Bitcoin maintains its upward trend, I prefer focusing on long positions over short ones in UNI futures. ❌ Disclaimer This analysis represents my personal opinions and is not intended as financial advice. Please conduct your own research before making any trading decisions.
Long
by DreamAnalysis
XAUUSD (Gold) Price Analysis: Potential Downside Breakout📉 XAUUSD (Gold) Price Analysis: Rectangle Formation on D1 Timeframe, Potential Downside Breakout Gold (XAUUSD) is trading within a rectangle formation on the D1 timeframe , which typically signals consolidation before a significant price move. While the price remains range-bound, there’s a high probability of a downside breakout , with critical targets at $2,580 and $2,490 . Here's a detailed analysis of the setup: 🔲 What is a Rectangle Formation? A rectangle formation occurs when the price moves between two horizontal levels, creating a box-like pattern 📊. This shows a period of indecision in the market, where neither buyers nor sellers are in control. A breakout typically happens when the price moves decisively above or below the rectangle. 🔻 Downside Breakout Targets Gold breaking below the rectangle's lower boundary could signal a bearish trend continuation. Here are the critical downside targets to watch: 1. First Target – $2,580 : A downside breakout would likely drop the price to $2,580 , the first central support zone and a logical profit-taking area for short-sellers. 2. Second Target – $2,490 : Should bearish momentum persist, the next target would be $2,490 , a deeper support level where further selling pressure could ease. ⛔ Stop Loss – $2,702 A stop loss at $2,702 is recommended for those considering a short position. This level is just above the upper boundary of the rectangle and would invalidate the downside scenario if breached. 🚀 Upside Breakout Target If gold breaks out above the rectangle, bullish momentum could push prices toward $2,841 . This would signal a strong reversal, and traders should consider this level the next significant resistance zone. 🔍 Factors to Watch Several factors could influence the direction of the breakout: Inflation Data : Higher inflation tends to support gold prices as a hedge, increasing the likelihood of an upside breakout. US Dollar Strength : A stronger dollar could weigh on gold, favoring a downside breakout. Geopolitical Events : Uncertainty in global markets can boost safe-haven demand for gold, potentially triggering an upside move. 🛠 Trading Strategy For traders looking to capitalize on the potential breakout, consider the following: Downside Setup : If gold breaks below the rectangle, short positions with targets at $2,580 and $2,490 may offer solid risk/reward opportunities, with a stop loss at $2,702 . Upside Setup : In the case of an upside breakout, targeting $2,841 could provide a good opportunity but ensure that risk is managed carefully. 💡 Conclusion Gold’s rectangular formation in the D1 timeframe suggests a significant price move is on the horizon. While the likelihood of a downside breakout seems stronger, with targets at $2,580 and $2,490, traders should remain alert to the possibility of an upside breakout towards $2,841. Proper risk management, including a stop loss of $2,702, will be crucial in navigating this market opportunity. 🔔 Stay updated with real-time price action to make the most of this technical setup. Share your opinion in the comments.....
OANDA:XAUUSDShort
by amzadlak
Crude Oil Technical Analysis - October OutlookCrude oil is showing a notable recovery from its recent lows, currently trading around the $72 mark. A few key observations based on the price action and indicators: Price Pattern and Trend: The chart shows a classic descending wedge pattern, which signals a potential bullish reversal. The breakout from the wedge is accompanied by a price surge above the 20-day and 50-day moving averages, suggesting a short-term trend change. Key Support Levels: Immediate Support : Around $70.64, marked by the breakout level. Strong Support : At $68.23, where significant buying interest has been observed in the past, reinforced by a bullish consolidation zone. Resistance Levels: First Resistance: $72.11, which has been tested, with potential room for the price to move higher if momentum sustains. Critical Resistance : $77.23, which coincides with a strong historical supply zone. A close above this level would signal further bullish momentum . Volume Profile Insight: A noticeable shift in the volume profile near the $70 mark suggests accumulation by institutional investors, hinting that buyers are stepping in to defend this level. RSI Indicator : The Relative Strength Index (RSI) has bounced back from oversold levels and is now showing early signs of positive divergence, supporting the case for an upward move. Geopolitical Factors: With rising tensions in the Middle East, as highlighted in the annotation, traders and investors are pricing in potential supply disruptions, contributing to the recent spike in oil prices. Conclusion: Oil prices may continue to rise in the short term, with $72.11 being a key level to watch. If sustained above this, the next target would be $77.23. However, if prices fall back below $70, we could see a retest of support at $68.23. Given the geopolitical uncertainty, traders should remain cautious of potential volatility.
TVC:USOILLong
by AngshumanSaikia
SasanSeifi| Will It Rebound or Drop Further?Hey there, ✌In the weekly timeframe, as you can see, Atom's price has been in a downtrend from the $8.50 range and has now corrected to the crucial weekly support level at $4. Currently, the price is trading around $4. In the long-term timeframe, maintaining the $4 level is crucial. The price has reacted to this important support, and if it consolidates here with confirmation on lower timeframes, we could expect a potential rebound with positive fluctuations toward the $5 and $6.50 levels. If positive momentum develops, we should watch how the price reacts to the $6.50 level. To continue the bullish trend and reach the target supply zone of $7 to $8, breaking the $6.50 level is necessary. On the other hand, if the $4 level breaks and the price stabilizes below it, the likelihood of further correction increases, with potential downside targets of $3.20 to $2.30. 🔶The chart is in logarithmic scale. This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊
by SasanSeifi
SasanSeifi|Will It Break Resistance or Test Lower Supports?Hey there, ✌ On the weekly timeframe, BINANCE:LTCUSDT price movement, after ranging around $84, faced a downward trend and corrected to the $50 level. Currently, the price is trading in a range around $63 with limited fluctuations. In the long-term weekly timeframe, key support levels for Litecoin are at $50 and $42. To continue the upward trend, it’s essential for the price to break the critical resistance at $85 and hold above it. If this resistance is broken, the likelihood of further price growth increases. For a clearer understanding of the price movement, it’s crucial to closely monitor Litecoin’s reaction to the $70 to $85 range. If the price fails to sustain above these levels, we may see a correction and a potential return to the major support zones. 🔶The chart is in logarithmic scale. This analysis reflects my personal view and is not financial advice. If you found this helpful, feel free to like and comment – I’d love to hear your thoughts! Happy trading! ✌😊
by SasanSeifi
Will the Price Bounce or Break?1H Timeframe Analysis Current Price: 0.67940 Bearish Outlook: 1. 1W Chart: Bearish Engulfing (Reversal) 2. 1D Chart: Shooting Star (Reversal) 3. 4H Chart: Rising Wedge (Reversal) 4. 1H Chart: Pennant (Continuation) The price is currently at the lower trendline of the Rising Wedge. With the Pennant pattern in play, we expect a drop to 0.67755. If strong support is found here, the price may bounce back to the major resistance at 0.68350. Due to this resistance, a reversal could push the price down to 0.67444, with potential bounces at support levels before aiming for ultimate support. Bullish Target: 0.68350 Bearish Targets: 0.67755 0.67444 0.67139 Good luck, traders!
Short
by SpicyPips
Footsie Hasn’t Topped Yet; Shows Bullish PatternWe talked about Footsie back in May 2024, where we mentioned and highlighted an ongoing 5th wave in the weekly chart with space up to 8800 – 9400 target area. Footsie a.k.a. FTSE100 or UK100 stock market index is still bullish with nice and clean inverted H&S pattern on a daily chart. After a higher degree A-B-C correction in wave (4), it can be getting ready for a bullish continuation within wave (5) by a new lower degree bullish setup formation. With sharp leg up into wave 1, we are actually tracking an a-b-c pullback in wave 2, where subwave »c« is coming out of subwave »b« triangle, so ideal support is at 8100 – 8000 area, from where we should be aware of a bullish resumption for wave 3 of a five-wave bullish cycle.
ICEEUR:Z1!Long
by ew-forecast