utsavroy

utsavroy

Crude oil is forming a descending triangle on the 4 hour time frame in an already established downtrend. Even though a descending triangle is a continuation pattern in general case but I believe that this descending triangle should be traded carefully as it might mark a trend reversal. My ideology is if crude breaks below 21.48, it will break out of the triangle...

utsavroy

As seen from the DOW JONES chart over the daily timeframe , it is following the Elliot wave pattern and DOW is currently in the 4th corrective wave. All the signals are pointing towards a lower bottom. The next area of major monthly support is between 13000-15000 level where the market bottom can be seen. Tread carefully in the coming days. The market is only...

utsavroy

Bitcoin has been in a volatile state these past weeks. Even though many blame it on the current scenario of market turmoil, i believe BTC is behaving the same as it did all these years. Bitcoin tends to follow a period of high volatility and low volatility. My analysis shows that BTC is holding its long term upward trendline on weekly chart which it tested in 2017...

utsavroy

Bitcoin is following the same pattern as it followed in 2013 October bull run where the price jumped from 100 USD to 1200 USD and crashed again to subsequent years to come. The bear market after 2013 bull run continued for 1 and a half year till February 2015 where the price bottomed out. All the while during the bear market the price of the bitcoin tested a...

utsavroy

The chart clearly shows dow jones increasing change of angles for each trend line after 2008 recession. In the most recent trendline, DOW JONES became parabolic. With the fundamentals already weak due to coronavirus and DOW JONES already testing 30000 level, It was inevitable for the market to go short. This is the beginning of recession as DOW has broken key...

utsavroy

Hi Guys, GBPJPY is forming a descending triangle with the base as 138.238 on the daily timeframe. The price is getting consolidated and GBPJPY is possibly going to breakout of this level and continue the downward trend towards its next major support of 128.883 Short GBPJPY with a take profit of 128.883

utsavroy

NATURAL GAS is forming an ascending triangle on 4hr timeframe which is indicative of an upward breakout. It is also on a major support level of 3.163 and has tested it twice. Long natural gas with a take profit target of 3.472 which is the next resistance level.

utsavroy

Hi guys, USDJPY is forming a Flag Pattern on a daily and weekly timeframe. It was in an uptrends from 102.36 to 118.18 forming the pole of the flag and has retraced back 38% fibonacci level to a price of 111.363 which is a major support level. The stochastic rsi indicated that the retracement is complete and now the price is heading towards buy setup. Take...