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Trendlineanalysis

MAHLOG is on the verge of breaking out of 2.5years old trendlineThe stock is attempting to breakout from a major trend line resistance that has kept the stock in a 'downtrend' for almost 2.5years now. A close above INR 400 could mean a quick run for the stock towards INR 420 level. Above INR 420 however is the region where the stock would almost 'fly' towards INR 500. But since 420 is a prior supply zone one could expect some congestion in the 400-420 zone before the stock takes out 420. INR 360-420 can also be considered as a long term accumulation range in the stock. The stock has spent almost 10-11 months in this range giving ample time to the interested parties to accumulate it for the future. A breakout above the trendline and also above 420 could provide some great momentum to the stock in coming weeks/months to scale up to INR 500 mark. Note*- The explanation of chart is based on personal opinions/observations. Please do your own research before making any trading/investing decisions.
NSE:MAHLOGLong
by neeraj_2_sharma
SOL/USDT Trading ScenariosWe are considering two scenarios for the SOL/USDT pair. After reaching the $68 level, the asset's price dropped to $51.08. At this point, there was a successful test of a strong inclined support level, followed by a confident rebound. Currently, due to the decline, an inclined resistance level has formed. First Scenario: Upon the third approach to the inclined resistance level and price consolidation below it, there is a possibility of entering a long position. The potential target is $60, with a second target set at $68. Second Scenario: If the decline continues and the price consolidates near the inclined support level, followed by a break above it and reaching $47.5 with a solid rebound and confirmation above $47.5 on high trading volume, there is consideration for entering a long position within this price range. The growth potential is estimated up to $60.
Long
by Rick_SimpleSwap
BTC/USDT ScenariosWe are considering two possible scenarios for the development of the situation with BTC. At the end of October, following a significant impulsive rise of BTC from $29,614 to $35,300 , there was an increase of more than 18%. In the following month, an ascending trading channel was observed, which was successfully broken after testing the upper boundary at $39,670. As a result of the breakout, the asset reached a price level of $44,436 , marking an increase of more than 11%. The first scenario focuses on the current overbought condition of the BTC price, which suggests the potential for a correction. There is a possibility of a downward corrective movement until reaching the upper boundary of the trading channel, located around $40,600, with a subsequent potential reversal. If the price remains stable at this level, there is consideration for opening a long position on BTC. In the second scenario, a significant price decrease towards the level of the highest volume POC at $37,100 is anticipated. From this level, a price reversal might occur, followed by a continuation of the upward movement. If the price remains stable at this level and there are signals for a reversal, we are also considering the possibility of buying BTC.
by Rick_SimpleSwap
💡 XAUUSD: Gold breaks all-time highSo the Gold price has officially broken its all-time peak and begun the search for a new peak. The chart below is a candlestick chart that visually represents the spot price of Gold on the OANDA:XAUUSD exchange. Based on the momentum indicator below, we can see that there is still a lot of room for Gold to increase, so maybe our main strategy in the near future for Gold should be to buy. The necessary strategy now is to consider Buy Limit. Avoid buying high to prevent risks
OANDA:XAUUSDLong
by Stone_Haven
GBP/USD - AnalysisAnalyzing the chart provided, it is evident that there was a break of the trendline earlier this month, followed by a reversal of the trend upwards. Currently, there has been a break of the supply zone and the 0.5 Fibonacci level, after which the price is undergoing a retest of the same level. The Moving Average Convergence/Divergence (MACD) divergence before the trendline adds further insight. The expectation is for the price to retest the 0.5 Fibonacci level and move upward to reach 1.3100 before the year 2024.
Long
by ekesam