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📝 $USDJPY: Watch Potential Breakout and Bounce From Trendline👋 Full-time trader here. Posting out here free Forex analyses for you. Welcome to like, follow, & share. Thanks for your continued support. 👍 Scenario 1: Bullish Breakout Trendline-bounce plays can be dangerous if you're new to trading. It's always good to wait for confirmation. In this case, an ideal scenario would be to bounce off the TL's third touch (now) and break into resistance for a confirmed breakout. If bulls come in here, they'll reclaim the resistance as support and continue higher. That's the ideal move. A safe trader would buy on break of resistance ONLY AFTER resistance becomes support. Here's a visual: Scenario 2: Bearish Rejection Many traders will like to think that this was a bearish rejection on the 4th touch of TL and they hopped in to short it. But wait. Not so fast - that can be a bearish fakeout. Need to be careful here and wait for proper confirmation, which would look something like this: First, the blue trend gets broken. Next, the resistance holds up well for a violent breakdown. You can start shorting on a lower high after that. You can play both sides, as long as you wait for confirmation. Waiting for confirmation is difficult in a fast-paced trading environment. You want to jump on a trade, make some pips right away, and log off. It doesn't work like that. Patience pays off. Wait for confirmation and take safer trades. Always check the shorter timeframe for the best entry and for trend confirmation! If you see the wick of the last candle, it bounced PERFECTLY on the high wick from before. Also, what's great is that it confirmed a fakeout under the trendline on a strong, bullish, high-volume candle. As I always tell my followers, go LIGHT on your trades. Baby gains add up! When you refine your strategy or hit 100 green trades, start making heavier trades. Follow for more free insights. Posting a few times daily!
Long
by kingdips
GEN CON at reversal point. possible uptrend from hereNSE:GENCON Currently the stock is at a crucial reversal point, which has acted as a major support several times in the past. Uptrend reversal is likely from here. Also, it has filled the gap which was made in Jan' 23. Fibonacci levels at 78%, could fo to 100% (Rs.30). In that case, can keep accumulating on dips. Note: Trade with caution! Do not trade solely based on my strategies, these are just individual ideas, kindly consult your investment advisor before taking trades.
NSE:GENCONLong
by StockSession
📈 Litecoin's Ascending Channel: A Sign of Strength 📈Litecoin, often referred to as "digital silver," has been quietly making waves in the cryptocurrency market. A compelling technical pattern has emerged, signaling the coin's strength and potential for a sustained bullish trend. Let's explore the concept of an ascending channel and what it suggests for Litecoin. The Ascending Channel: A Bullish Structure An ascending channel is a technical pattern characterized by a series of higher highs and higher lows. It represents an upward trending channel where buyers consistently enter at higher price levels. Litecoin's Strong Position: Riding the Channel Litecoin's price action has been remarkably consistent within this ascending channel. The channel's boundaries serve as support and resistance levels, providing clear trading signals. The Significance: Strength and Potential The presence of an ascending channel is often seen as a sign of strength. It reflects a consistent balance between buyers and sellers favoring upward momentum. Trading Strategy: Navigating Litecoin's Channel For traders, an ascending channel provides valuable reference points. Consider long positions near the channel's lower boundary and take profits as the price approaches the upper boundary. Conclusion: Litecoin's Ascending Channel Litecoin's ability to maintain this ascending channel is a promising sign for its future performance. However, always remember that the cryptocurrency market can be volatile. Stay informed, adapt your strategy, and manage risk wisely. As Litecoin continues to ride this bullish structure, it demonstrates the resilience and potential for growth within the crypto space. 🚀📈🌟 ❗See related ideas below❗ Like, share, and leave your thoughts in the comments! 💚🚀💚
BITFINEX:LTCUSDLong
by Yaroslav_Krasko