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BankNifty Prediction for Tomorrow : 23 August 2024BankNifty Prediction for Tomorrow: 23 August 2024 The market was pretty much sideways today. According to the Risological swing trader: The Trailing stop loss is at 50,675 If the event of a gap down tomorrow morning, and closes below 50,675 in 15m candle close, I will be looking at buying PE side positions. If it continues the upside movement, the upper targets are as follows. These are also the resistance zones. Resistance: 51,430 - 52,108 - 52, 527 Trailing stop loss - 50,675
NSE:BANKNIFTYLong
by ProfitsNinja
SNXUSDT / TRADING BELOW TURNING LEVEL - 4HSNXUSDT - 4H TIME FRAME HELLO TRADERS Tendency , prices is under downward pressure , until trading below turning level at 1.557 . Downward Condition: With the price holding steady at the current turning level at 1.557 , it is likely to decline towards the support level of 1.445. If it stabilizes below this level, it could then reach the next target level of 1.284 . Upward Condition : for an upward , a potential is expected if the price breaks the turning level at 1.557 , leading to a rise toward the resistance level (1) at 1.660 . For a sustained increase, the price must breaking the resistance level (1) to reach the next resistance at 1.767 . TARGET UPWARD ZONE : RESISTANCE LEVEL (1) : 1.660 . RESISTANCE LEVEL (2) : 1.767 . TARGET DOWNWARD ZONE : SUPPORT LEVEL (1) : 1.445 . SUPPORT LEVEL (2) : 1.284 . TURNING LEVEL : 1.557 .
Short
by ArinaKarayi
LTCUSD / REMAIN BELOW TURNING LEVEL - 4HLTCUSD HELLO TRADERS Tendency , the price is under bearish pressure , until trading below turning level at 68.30 . Turning Level: The price is currently trading below this level around 68.30 . As long as it remains stable and stays below this level, a drop toward the support level is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level can be expected. Resistance Level (1): around 73.17 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 68.30. If the price reaches 73.17 , and stabilizes above it, it will likely attempt to reach resistance level (2) . Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 76.44 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 79.83 . Support Level (1): As long as the price remains below the turning point of 68.30, it suggests a drop towards 61.62 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2). Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 57.61 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 52.93 . Channel Trend: the trading rate within the descending channel. TARGET LEVEL : RESISTANCE LEVEL : 73.17, 76.44 , 79.83 . SUPPORT LEVEL : 61.62 , 57.61 , 52.93 .
BINANCE:LTCUSD.PShort
by ArinaKarayi
EURUSD / BREKOUT ASCENDING CHANNEL - 4H EURUSD Tendency , the price is under bullish pressure , until trading above turning level at 1.101 . Turning Level: The price is currently trading above this level around 1.101. As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected. support Level (1) : around 1.095 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 1.101. If the price reaches 1.095 , and stabilizes below it, it will likely attempt to reach support level (2) support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 1.088 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 1.078 . Resistance Level (1): As long as the price remains above the turning level of 1.101 , it suggests a rising towards 1.108 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2). Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 1.113 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 1.116 . Channel Trend: breakout ascending channel . TARGET LEVEL : RESISTANCE LEVEL : 1.108 , 1.113 , 1.116 . SUPPORT LEVEL : 1.095 ,1.084 , 1.78 .
Long
by ArinaKarayi
US30 ( UNDER BULLISH PRESSURE ) - 4H US30 HELLO TRADERS Tendency , prices is under upward pressure , until trading above turning level at 40,680 Upward Condition :The price is currently experiencing bullish momentum. As long as it remains above the 40,680 turning level , it is likely to move upward toward the resistance levels of 41,040 and then 41,401. Downward Condition :To reach the 40,239 support level (1) , the price needs to first break the turning level by closing a 4-hour candle below 40,680. If it stabilizes below support level (1) , a further decline toward the support level (2) at 39,812 can be anticipated . TARGET UPWARD ZONE : RESISTANCE LEVEL (1) : 41,040 . RESISTANCE LEVEL (2) : 41,401 . TARGET DOWNWARD ZONE : SUPPORT LEVEL (1) : 40,239 . SUPPORT LEVEL (2) : 39,812 . TURNING LEVEL : 40,680 .
EIGHTCAP:US30Long
by ArinaKarayi
EUR/USD Soars to 2024 Highs as Fed Rate Cut Speculation GrowsThe EUR/USD pair extended its rally for the fourth consecutive day, reaching new 2024 highs around 1.1170. This surge has been fueled by continued weakness in the US Dollar (USD), which has been under pressure as market sentiment shifts. The US Dollar Index (DXY), a measure of the USD’s strength against a basket of major currencies, fell below the critical 101.00 level for the first time since December 2023. This decline was exacerbated by the release of the Federal Open Market Committee (FOMC) Minutes, which hinted at the possibility of an interest rate cut by the Federal Reserve (Fed) in September. From a technical perspective, the EUR/USD pair bypassed its first supply area without a significant rebound and is now approaching the second supply zone, a key area where a potential sell reversal is being closely monitored. The latest Commitment of Traders (COT) report reveals an interesting divergence: retail traders remain bullish on the pair, while commercial traders and large funds appear to be positioning themselves for a move in the opposite direction. The likelihood of a rate cut has been a focal point for traders. The CME Group’s FedWatch Tool currently shows nearly a 60% chance of a 25 basis point reduction at the Fed's September 18 meeting, a slight decrease from around 70% the previous day. Despite the FOMC Minutes supporting the possibility of lower rates as early as next month, Fed Governor Michelle Bowman urged caution, suggesting that rate reductions should be gradual if inflation aligns with the Fed’s 2% target. Her comments indicate a desire to avoid an overly restrictive monetary policy that could stifle economic growth. Should the Fed opt for more substantial rate cuts, the policy gap between the Fed and the European Central Bank (ECB) could narrow in the medium to long term. This convergence may further support the EUR/USD pair, particularly as market participants expect the ECB to implement two additional rate cuts this year. Such a scenario could provide additional upward momentum for the EUR/USD, pushing it even higher in the coming months.
Short
by FOREXN1
1
NAS100USD / BREAKOUT THE CHANNEL - 4H NAS100USD Tendency , the price is under bullish pressure , until trading above turning level at 19,600 . Turning Level: The price is currently trading above this level around 19,600 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected. support Level (1) : around 19,188 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 19,600 . If the price reaches 19,188 , and stabilizes below it, it will likely attempt to reach support level (2) . support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 18,747 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 18,337 . Resistance Level (1): As long as the price remains above the turning level of 19,600 , it suggests a rising towards 20,234 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2). Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 20,553 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 20,793 . Channel Trend: breakout descending channel . TARGET LEVEL : RESISTANCE LEVEL : 20,234 , 20,553 , 20,793 . SUPPORT LEVEL : 19,188,18,747 , 18,337 .
OANDA:NAS100USDLong
by ArinaKarayi
PEPEUSD / UNDER UPWARD PRESSURE - 4H PEPEUSD - 4H TIME FRAME HELLO TRADER S Tendency , prices is under upward pressure , until trading above turning level at 0.000007 Upward Condition : The price is currently showing bullish momentum. As long as it stays above the turning level of 0.000007 , it is likely to move upward toward the resistance levels at 0.000008 and then 0.000009 . Downward Condition : To reach the 0.000006 support level (1) , the price needs to first break the turning level by closing a 4-hour candle below 0.000007 . If it stabilizes below support level (1) , a further decline toward the support level (2) at 0.000005 can be anticipated . TARGET UPWARD ZONE : RESISTANCE LEVEL (1) : 0.000008 . RESISTANCE LEVEL (2) : 0.000009 . TARGET DOWNWARD ZONE : SUPPORT LEVEL (1) : 0.000006 . SUPPORT LEVEL (2) : 0.000005 . TURNING LEVEL : 0.000007 .
Long
by ArinaKarayi
BCHUSD / INSIDE ACCOMULATION ZONE - 4HBCHUSD - 4H TIME FRAME HELLO TRADERS Tendency , prices is under upward pressure , until trading above turning level at 322.79 Upward Condition : If the price remains stable at the turning level at 322.79 , it is expected to rise toward the resistance level of 355.50 . Should it hold above this level, a tend to further rise to reach resistance level at 400.97 . Downward Condition : To reach the289.29 support level (1) , the price needs to first break the turning level by closing a 4-hour candle below 322.797 . If it stabilizes below support level (1) , a further decline toward the support level (2) at 264.16 can be anticipated . TARGET UPWARD ZONE : RESISTANCE LEVEL (1) : 355.50 . RESISTANCE LEVEL (2) : 400.97 . TARGET DOWNWARD ZONE : SUPPORT LEVEL (1) : 289.29 . SUPPORT LEVEL (2) : 264.16 . TURNING LEVEL : 322.79 .
BINANCE:BCHUSD.PLong
by ArinaKarayi
3
Inverted Head and Shoulder Pattern breakout in DALBHART🔍 Technical Analysis on DALBHARAT (1-Hour Timeframe): Pattern Formation: An Inverted Head and Shoulders pattern has recently formed and broken out on the 1-hour chart of DALBHARAT. This bullish reversal pattern is often a strong indicator of a potential upward movement, particularly after the breakout from the neckline. Breakout and Entry Point: The breakout occurred as the price crossed above the neckline, which was near the 1795 level. This breakout is a key signal for a potential long entry. Traders can consider going long above 1795, anticipating further upward movement. Projected Target: Based on the head height of the pattern, the projected target for this breakout is around 1865+. This target is derived by measuring the distance from the head (the lowest point) to the neckline and adding it to the breakout point. The 1865 level serves as the potential upside target, representing the full price move expected from this pattern. Stop Loss Consideration: To manage risk, a small stop loss can be placed at 1751, which is safely below the neckline and the recent low, allowing some room for market fluctuations without prematurely exiting the trade. Summary: Entry: Above 1795 Target: 1865+ Stop Loss: 1751 This trade setup aligns with the technical structure of the inverted head and shoulders pattern, offering a favorable risk-to-reward ratio for those looking to capitalize on the potential bullish momentum in DALBHARAT.
NSE:DALBHARATLong
by TradZoo
Gold Price Analysis August 21☘️Fundamental Analysis Gold prices extended their bullish consolidation above the psychological $2,500 level heading into the European session on Wednesday and remained within striking distance of the record high hit the previous day. Investors appeared to be betting that the Federal Reserve would begin its policy easing cycle and announce 25 basis points (bps) in September. This continued to weigh on US Treasury yields and became a key support for the non-yielding yellow metal. In addition, geopolitical risks, China’s economic woes and a slight decline in global risk sentiment served as a boost for the safe-haven commodity. Investors also appeared reluctant and preferred to wait on the sidelines ahead of the release of the July FOMC meeting minutes. In addition, Fed Chairman Jerome Powell's speech at the Jackson Hole Symposium on Friday will be closely watched for clues on the US central bank's policy path. ☘️Technical Analysis Gold is trading in a narrow range of 2500 and 2532. That is the wide range we can trade when gold breaks out of the sideways range in the Asian session around 2519-2510. Today's key support resistance zone around 2550 and 2476 to ensure that gold's price range does not increase or decrease too much. RSI corrected in the US session yesterday but is still at a relatively high level. If gold fails to close below 2500, it is very likely to create a new ATH in the following days. Resistance: 2527 - 2531 - 2540 - 2552 Support: 2500 - 2495 - 2488 - 2475 - 2470 SELL scalp zone 2528 - 2530 stoploss 2533 SELL zone 2550 - 2552 stoploss 2556 BUY zone 2477 - 2375 stoploss 2471
OANDA:XAUUSD
by TVS-Trader
XAGUSD / GENERALLY PRICES UNDER BULLISH PRESSURE - 4HXAGUSD HELLO TRADERS Tendency , the price is under bullish pressure , until trading above turning level at 28.58 . Turning Level: The price is currently trading above this level around 28.58 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected. support Level (1) : around 27.80 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 28.58 . If the price reaches 27.80 , and stabilizes below it, it will likely attempt to reach support level (2) . support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 27.08 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 26.44 . Resistance Level (1): As long as the price remains above the turning level of 28.58 , it suggests a rising towards 29.56 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2). Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 30.75 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 31.64 . Channel Trend: the prices trading rate within the descending channel . TARGET LEVEL : RESISTANCE LEVEL : 29.56 , 30.75 , 31.64 . SUPPORT LEVEL : 27.80 , 27.08 , 26.44 .
OANDA:XAGUSDLong
by ArinaKarayi
BITCOIN / UNDER BULLISH PRESURE - 4HBITCOIN HELLO TRADERS Tendency , the price is under bullish pressure , until trading above turning level at 55,101 . Turning Level: The price is currently trading above this level around 55,101 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected. support Level (1) : around 51,322 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 55,101 . If the price reaches 51,322 , and stabilizes below it, it will likely attempt to reach support level (2) . support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 47,703 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 44,845 . Resistance Level (1): As long as the price remains above the turning level of 55,101 , it suggests a rising towards 61,267 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2). Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 65,742 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 69,670 . Channel Trend: the trading rate within the descending channel . TARGET LEVEL : RESISTANCE LEVEL : 61,267 , 65,742 , 69,670 . SUPPORT LEVEL : 51,322 , 47,703, 44,845 .
Long
by ArinaKarayi
2
Gold prices are standing still and waiting for results from FEDAfter completing the new history, gold easily becomes a time-limited investor. Not only that, gold prices at such a high level are difficult to attract new buyers to the market, also causing this commodity to decrease in price. Sharing the same opinion, Anuj Gupta - Head of Commodities and Currency at HDFC Securities - determined that the upward trend in gold prices is still there and the direction of the precious metal will depend on the main direction of the US Federal Reserve. (Fed). He believes that the speech of Fed Chairman Jerome Powell at the upcoming Jackson Hole congress will find a clearer picture of the monetary policy presentation of the Bank of America. Accordingly, if Mr. Powell shows concern about the balance between economic growth and deflation, this will strengthen the possibility of cutting interest rates. Conversely, if he is optimistic and does not offer a commitment instrument, the school may have to adjust its current expectations.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Gold Price Analysis August 19Fundamental Analysis Gold prices remained on the defensive in early European trading on Monday, although they held above $2,500 and remained within striking distance of their record highs. Growing expectations that the Federal Reserve (Fed) will begin lowering borrowing costs in September triggered a fresh decline in US Treasury yields. This, in turn, dragged the US Dollar (USD) to its lowest level since January and acted as a boost for the non-yielding yellow metal. In addition, the risk of escalating geopolitical tensions in the Middle East and the protracted Russia-Ukraine war contributed to limiting the decline in the safe-haven commodity. However, traders appeared reluctant to place fresh bets on Gold prices, preferring to wait for further signals on the Fed’s rate cut path. Therefore, the focus remains on the release of the FOMC meeting minutes on Wednesday and Fed Chairman Jerome Powell’s speech at the Jackson Hole Symposium. Technical Analysis From a technical perspective, Friday’s breakout above the $2,470-2,472 horizontal barrier and subsequent strength above the previous all-time high is seen as a fresh impetus for bullish traders. Furthermore, the oscillators on the daily chart are holding in positive territory and are still far from overbought territory, suggesting that the path of least resistance for Gold prices is to the upside. That said, the failure to build momentum above the psychological $2,500 mark warrants some caution for the bulls. Therefore, it would be prudent to wait for some follow-through buying above Friday’s time-allowed top, around the $2,509-2,510 region, before positioning for any further gains. On the other hand, the $2,472-2,470 resistance level currently seems to protect the immediate decline. Any further decline is likely to attract fresh buyers and remain limited in the $2,448-2,446 zone. The latter will act as a key pivot for short-term traders, a decisive break of which will open the way for deeper losses. Resistance: 2509 - 2519 - 2533 Support: 2495 - 2488 - 2475 - 2470 SELL scalp price zone 2508 - 2510 stoploss 2514 SELL price zone 2532 - 2534 stoploss 2538 BUY price zone 2477 - 2375 stoploss 2471
OANDA:XAUUSD
by TVS-Trader
GOLD 1H CHART ROUTE MAP UPDATEHey Everyone, Great start to the week with our 1h chart idea playing out perfectly, as analysed. We got the cross and lock below 2500 opening the retracement range, which was hit perfectly. This followed with the perfect bounce for a nice catch and now heading for 2509. We currently have a gap above at 2509 and will need a cross and lock above this level to open the range above. Failure to test and break 2509 level will follow with a rejection for another retracement test to the full retracement. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2509 EMA5 CROSS AND LOCK ABOVE 2509 WILL OPEN THE FOLLOWING BULLISH TARGET 2519 2533 BEARISH TARGETS 2500 - DONE EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2488 (DONE) - 2472 EMA5 CROSS AND LOCK BELOW 2472 WILL OPEN THE SWING RANGE SWING RANGE 2458 - 2446 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
16
NAS100USD ( TRADING BELLOW TURNING LEVEL ) ( 4H )NAS100USD Yesterday, we reached our target of +450 pips. The current price is trading below the turning level at 19,547. As long as it remains below this level, it’s likely to continue declining towards the first support level. Tendency , the price is under bearish pressure , until trading below turning level at 19,547 . Turning Level: The price is currently trading below this level around 19,547 . As long as it remains stable and stays below this level, a drop toward the support level is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level can be expected. Resistance Level (1): around 20,080 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 19,547. If the price reaches 20,080 , and stabilizes above it, it will likely attempt to reach resistance level (2) . Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 20,538 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 20,969 . Support Level (1): As long as the price remains below the turning point of 19,547, it suggests a drop towards 19,115 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2). Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 18,696 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 18,315 . Channel Trend: the trading rate within the ascending channel. TARGET LEVEL : RESISTANCE LEVEL : 20,080 ,20,538 , 20,969 . SUPPORT LEVEL : 19,547 , 18,696 , 18,315 . Time Frame : 4H
OANDA:NAS100USDShort
by ArinaKarayi
Gold price remained steady at 2500Gold costs have surged beyond report highs as a aggregate of upbeat US monetary reports, expectancies of Fed hobby charge cuts and growing tensions withinside the Middle East boosted demand. secure haven assets. Fears that Iran should retaliate towards Israel for current conflicts have heightened geopolitical tensions, and not using a enormous development in ceasefire negotiations. This uncertainty keeps to underpin gold`s rally, making it a key attention for traders looking for shelter amid worldwide uncertainty. Gold costs are buying and selling better whilst presently checking out resistance. MACD has illustrated growing bullish momentum. However, the RSI is at 68, suggesting the commodity should face a technical correction because the RSI enters oversold territory. Resistance levels: 2500.00, 2535.00 Support levels: 2465.00, 2445.00
OANDA:XAUUSDShort
by FalCol_TradingMaster