NIFTY taking a breather !As we can see NIFTY had been sideways to negative throughout the day as analysed in our previous post. We can consider this as a breather or retracement after a rally which is a good sign, for confirmation, break of 23800 will lead to 25000++ in coming sessions else it can remain sideways to negative so plan your trades accordingly and keep watching.
Trend Lines
Is NNDM Consolidation Finally Over?Weekly chart is being shown but I will summarize key bullish points on the daily as well.
General Note:
Found support at the 236 retracement($2.19) of the last low to high. This means alot of paper hands have exited.
If this did not hold it would be bearish.
Price is above a downward Trend line. We need to see this trendline broken on the daily chart and established as support.
Even better if we can weekly candles to do this in the next few weeks.
The orange areas are supply/demand zones at time frames lower than the daily but greater than and equal to an hour.
The red and green areas are supply/demand zones at the daily or higher. You need to see the orange zones
broken on the daily and established as support. The first red zone is the first boss. We need to get
through that and make it support to ensure this trend is changing.
It probably needs to happen soon because I expect to encounter resistance at the 200SMA on the weekly time frame
and I would like that resistance to be above that supply zone.
Weekly Notes:
The 8EMA crossed the 21 EMA on the weekly. It came down and touched the 21 and bounced.
This has not happened in the last four years I have been following this stock.
The 13 weekly EMA is equal to the 48 and if price stays above 2.40, it will cross it on the weekly.
The 30 Weekly SMA has leveled and is starting to point up. See Weinstein method.
Next thing I am looking for is the 30Weekly to cross the 50 Weekly and for the weekly 50 to level out and point up
Daily Notes:
13EMA has crossed the 48 EMA. This is generally bullish when both are not pointing down.
50SMA has crossed the 200 SMA
Broke above 200SMA Daily. Need to see a pull back and prove it's support.
Wave 1 as leading diagonal (better chart pic)
I think it's worth bearing in mind that we could see some significant downside during the lull at the end of Q1. Red for Valantines, Green for St Patrick's.
This shows how we may never have transitioned into wave 2, but may actually be about to finish wave 1 as a leading diagonal.
We could be looking at wave 2 as a running/ expanding flat, in which case we see a significant rally, but something is niggling at me about this.
Watch the break of the high at $3.39, I'll be looking at the 4hr RSI to see if there's divergence. A close above with that divergence will possibly spell more downside than just a subwave correction.
USDJPY Wave Analysis – 6 February 2025
- USDJPY under the bearish pressure
- Likely to fall to support level 150.00
USDJPY currency pair under the bearish pressure after the earlier break out of the support zone between the support level 154.00, support trendline from September and the 50% Fibonacci correction of the previous upward impulse from December.
The breakout of this support zone accelerated the c-wave of the active ABC correction 2 from the start of this year.
Given the strongly bullish yen sentiment seen across the currency markets today, USDJPY currency pair can be expected to fall to the next support level 150.00 (target for the completion of the active c-wave).
#1000PEPEUSDT expecting further decline!📉 SHORT BYBIT:1000PEPEUSDT.P from $0.009650
🛡 Stop Loss: $0.009875
⏱ 1H Timeframe
📍 Overview :
➡️ BYBIT:1000PEPEUSDT.P remains under selling pressure after failing to sustain an upward move. The price is trading below the key POC $0.010072 , which previously served as a high-liquidity zone.
➡️ The recent breakdown of $0.009815 , followed by a retest as resistance, confirms the bearish scenario.
➡️ If the asset holds below $0.009650 , this could trigger a move toward $0.009242, where buying interest was previously observed.
➡️ Current price action shows weakness in buyers as volume does not support an upward breakout.
⚡ Plan :
➡️ Enter short once a firm breakdown below $0.009650 is confirmed.
➡️ Risk management through Stop-Loss at $0.009875 , positioned above the nearest resistance zone.
➡️ The main downside target is $0.009242 , where profit-taking and a possible bounce could occur.
🎯 TP Targets:
💎 TP 1: $0.009242
📢 BYBIT:1000PEPEUSDT.P is showing signs of further downside, with no strong buying reaction at the moment.
📢 The $0.009242 level should be closely monitored as a potential support zone. If weakness persists, breaking this level could accelerate downward pressure.
📢 For those holding long positions, caution is advised when facing repeated resistance retests.
🚀 BYBIT:1000PEPEUSDT.P continues to show weakness — expecting further decline!
SEI | ALTCOINS | +150% Bounce Zone TARGETSEI is an altcoin that bounces well from support zones and therefore excellent to trade as a swing trade.
You can confirm that SEI bounces from support zones by taking a look at this post I made in August last year, just before SEI increased 232%:
For the short term, there seems to be no clear indication of a turnaround, but the good news is that a better buy zone is approaching for the next impulse wave up - which could be a really big swing.
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BINANCE:SEIUSDT
HelenP. I Bitcoin can start grow to trned line, after correctionHi folks today I'm prepared for you Bitcoin analytics. In this chart, we can see how the price declined below a support level, which coincided with the support zone, and quickly backed up and continued to move up next. Later BTC rose to a resistance level, which coincided with the resistance zone, some time traded near, and then made a correction movement, after which made an impulse up to the trend line. Then the price turned around and started to decline near the resistance level. Sometimes BTC rose back to the trend line, but didn't fixed and continued to decrease next. A few time later price rebounded from the resistance zone and dropped below, breaking the resistance level last time. After this movement, BTC rose to the trend line, little time traded between this line, and then dropped to the support level. Then Bitcoin rebounded from this level and rose to 102500 points, after which started to decline. So, in my opinion, BTCUSDT will fall one more time and then start to grow to the trend line. That's why I set my goal at 102K points, which coincides with this line. If you like my analytics you may support me with your like/comment ❤️
US30 Technical Outlook: Bullish Momentum Holds Above 44410US30 Technical Analysis
The price maintains bullish momentum as it has already stabilized above the pivot line at 44410.
As long as it trades above 44410, the price is expected to push higher toward 44620 and 44760.
However, if a 1-hour or 4-hour candle closes below 44410, a bearish move is likely, with potential targets at 44250 and 44075.
Key Levels:
Pivot Point: 44410
Resistance Levels: 44620, 44760, 44920
Support Levels: 44260, 44150, 44075
Trend Outlook:
Bullish while above 44410
Bearish below 44410
Gold Retreat Slightly but Bullish Momentum Remains IntactGold Futures Slip but Stay Near Record Highs; Bull Market to Persist, Citi Says
Gold Technical Analysis
Gold reached an all-time high (ATH) of 2,882 yesterday before reversing.
Currently, Gold is expected to correct towards the breakout level near 2,809. Initially, the price may attempt to test 2,841, and a 1-hour or 4-hour candle closing below this level could lead to a drop toward 2,823.
On the other hand, if a 1-hour candle closes above 2,861, the price could reach 2,873. Furthermore, a 4-hour candle closing above 2,873 would confirm a bullish continuation toward 2,895 and 2,918.
Key Levels
Pivot Point: 2861
Resistance Levels: 2873, 2895, 2918
Support Levels: 2841, 2823, 2809
Trend Outlook
Bullish confirmation above 2873
Expected movement range: 2861 – 2841
Bearish scenario if the price remains below 2861
GOLD (XAUUSD): Bearish Reversal at Trend LineGold has reached a key ascending trend line on the 4-hour chart.
After a strong bullish rally, the market seems overbought, and a head and shoulders pattern on the 1-hour chart indicates weakening buyer momentum in the short term.
A retracement to 2844 is expected.
Gold BUY Trading RecommendationsGold faced some positive pressures at the beginning of the week, as it crossed the resistance line of its ascending channel, and today, it is providing additional strength in drawing a deeper correction. It is worth noting that the fundamental analysis is indicating positive momentum, which indicates the possibility of further upside in the near term.
Given the current technical setup, it is reasonable to expect gold to continue its positive trend in the upcoming general sessions.
So, with the broader bullish scenario continuing as long as prices remain above the $2840 support level.
After the short-term bearish correction,
the overall market trend remains constructive for gold buyers.
For today, traders can expect gold to trade bullish in areas such as; $2883.00
, $2903.00 and $2933.00
. If the metal can hold above the $2880.00 resistance level and maintain its bullish stance, it is likely to push towards the upper end of this range in the near future $3000
.
Trading Recommendations
Buy Gold