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Wipro is ready to blast for 750 Targets !!Wipro Chart is Bullish after 20% correction Wipro is on Law of Polarity working from 2021 Stock has achieved the targets of LOP which was coming around 550 And stock has corrected exactly from there !! Now stock is around Law of Polarity and also Wipro is making Falling Broadning pattern in an uptrend which indicating Bullishness. Stock is still around the support area and looking lucrative. Thank You !! Disclaimer : We are not SEBI registered analyst. Do your own research before taking any investment decision.
NSE:WIPROLong
by FiveCircles
1
ETH - Deja Vu🦋Hello TradingView Family / Fellow Traders, For those who know me, I always enjoy studying previous price action. 📌Today, I want to share an interesting pattern I found on ETH. Back in Summer 2021, ETH experienced a parabolic bullish impulse (depicted in blue), followed by a correction (shown in purple) to reject the $3000 support before commencing another bullish impulse movement. If we apply the same logic to the current price action, ETH is currently in the correction phase, rejecting the $3000 support. Thus, I will be looking for buy setups on lower timeframes, speculating on the next bullish impulse movement. Of course, this pattern will be invalidated if the $3000 mark is broken downward. 🗒 What do you think? Will history repeat itself? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! And always remember: All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
18
XAU/USD SHORT RETRACEMENT FOR HL AND CHART PATTERN. Given the current price of XAU/USD at 2418 and a target price (TP) of 2390, here’s a detailed technical analysis and trade setup for a short trade based on the specified conditions. ### Technical Analysis for XAU/USD Short Trade #### Current Market Context - **Current Price:** 2418 - **Target Price (TP):** 2390 - **Pips Targeted:** 28 pips #### Key Technical Indicators 1. **Support and Resistance Levels:** - **Resistance:** The recent high and significant resistance level. Let's assume recent resistance is around 2425. - **Support:** Target support level at 2390. 2. **Moving Averages:** - **50-period EMA:** Check if the price is below the 50-period EMA on the 1-hour chart, indicating bearish momentum. - **200-period EMA:** Confirm if the price is also below the 200-period EMA to reinforce the bearish trend. 3. **Relative Strength Index (RSI):** - **RSI Level:** Ensure the RSI is below 50 on the 1-hour chart to confirm bearish momentum. - **Overbought/Oversold:** Ensure the RSI is not in the oversold region (below 30), which could indicate a potential reversal. 4. **Fibonacci Retracement:** - Draw Fibonacci retracement levels from the recent swing high to the recent swing low. - Identify key Fibonacci levels around the current price and check if there is confluence with other indicators. 5. **Candlestick Patterns:** - Look for bearish reversal candlestick patterns on the 15-minute and 1-hour charts (e.g., bearish engulfing, shooting star). #### Trade Setup 1. **Entry Point:** - Enter the short trade at the current price of 2418. 2. **Stop-Loss:** - Place the stop-loss above a key resistance level. If recent resistance is at 2425, consider a stop-loss around 2428 to allow for market noise. 3. **Take-Profit:** - Set the take-profit at the target price of 2390. #### Example Trade Plan - **Entry Price:** 2418 - **Stop-Loss:** 2428 (10 pips above entry) - **Take-Profit:** 2390 (28 pips below entry) - **Risk-Reward Ratio:** 1:2.8 #### Risk Management - **Position Sizing:** Determine position size based on risk management rules. For example, if you risk 1% of your account on this trade, calculate the position size based on a 10-pip stop-loss. - **Monitoring:** Continuously monitor the trade for any signs of reversal or unexpected news that could impact the market. #### Example Calculation for Position Size Assuming a trading account with $10,000: - **Risk Per Trade:** 1% of $10,000 = $100 - **Stop-Loss Distance:** 10 pips - **Value Per Pip:** $10 (for a standard lot) Position Size = Risk Amount / (Stop-Loss Distance * Value Per Pip) Position Size = $100 / (10 pips * $10 per pip) = 1 standard lot #### Conclusion The trade setup for shorting XAU/USD at the current price of 2418 with a take-profit target of 2390 and a stop-loss at 2428 offers a favorable risk-reward ratio of 1:2.8. By using key technical indicators such as support and resistance levels, moving averages, RSI, Fibonacci retracement, and candlestick patterns, the trade is well-structured and aligned with market analysis. --- This analysis is hypothetical and for educational purposes. Actual trading decisions should be based on real-time data and individual analysis. Always ensure proper risk management when trading.
OANDA:XAUUSDShort
by TheFXCapital
After exiting from triangle, Ethereum can continue to growHello traders, I want share with you my opinion about Ethereum. Looking at the chart, we can see how the price declined to the resistance level, which coincided with the seller zone and even fell below this level but soon backed up to the seller zone. ETH some time traded in this area and later rebounded up to 3717 points, after which it turned around and made a downward impulse to the support level, which coincided with the buyer zone, breaking the 3360 level. Also, the price started to trades inside the triangle, where it bounced from the 2875 level and started to grow to the resistance line, which their moment coincided with the resistance level, after which it rebounded and fell to the buyer zone. But soon Ethereum turned around and rose back to the resistance line, but couldn't fixed and fell back to the support level. Some time later price made an upward impulse from this level and a not long time ago Ethereum exited from the triangle pattern. Now I think the price can make a small correction move and then continue to grow. For this case, I set my target at the 3360 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
🔥 FTM: Huge Reversal Possibility From Major SupportFTM has been trading in a very strong bullish trend since October of last year. This analysis is based on the idea that FTM will keep trading alongside the bottom purple support. I'm waiting for a minor sell-off towards the entry, or when the price hits the bottom support line. Target at 2$ and the stop below the most recent local low. The stop is very tight. If you prefer a higher probability trade (but lower RR) put the stop at 0.54
Long
by FieryTrading
1
TRX - Inverse head and shoulder - Breakout ImminentBINANCE:TRXUSDT (6H CHART) Technical Analysis Update TRX is currently trading at $0.12346 and has formed a inverse head and shoulder pattern. Price is currently around the resistance line, if see a resistance breakout then we have potential for a good LONG Trade. I will wait till we have a confirmed breakout of the resistance and enter the long trade only after that. Entry level: $ 0.12461 (Candle Close above this) Stop Loss Level: $ 0.11752 TakeProfit 1: $ 0.12778 TakeProfit 2: $ 0.13172 TakeProfit 3: $ 0.13764 TakeProfit 4: $ 0.14398 Max Leverage: 5x Position Size: 1-2% of capital Don't forget to keep stop loss. Follow Our TradingView Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts. Cheers GreenCrypto
Long
by GreenCryptoTrades
🔥 Bitcoin Inverse Head & Shoulders! New All-Time High Soon 🚀Over the last week or so I've made a few posts on Bitcoin's inverse head & shoulders pattern, which is a bullish reversal pattern. In my initial post below I expected the reversal to come in earlier, but apparently we first had to go down more before the right shoulder was completed. As of now, the H&S pattern is confirmed (unless we dump in the next ~30 min). In my eyes, this could be the start of the next leg up towards the current all-time high, and likely beyond.
Long
by FieryTrading
5
BITCOIN - Price can bounce up from support line of wedgeHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Some days ago price entered to falling channel, where it soon broke $68900 resistance level and fell to support line. Next, price tried to grow, but failed and declined to $60100 support level, after which bounced up. BTC rose to resistance line of channel and then continued to decline near this line, after which made downward impulse. Price exited from falling channel, and entered to wedge, where it broke $60100 level, which coincided with support area. Soon, price bounced from support line of wedge and rose to resistance line, breaking support level again. Recently BTC fell to this level and now I think price can bounce up from support line to $66500 resistance line of wedge. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
4
🔥 Bitcoin Inverse Head & Shoulders: Back To All Time Highs!Bitcoin has been trading fairly neutral over the month or so. In the process, an inverse head & shoulders has been formed. This is classically a bullish reversal pattern. In my eyes, this could be the definitive pattern to shoot BTC back towards the ATH around 73.5k, potentially even making a new ATH. Note: the pattern has not been confirmed yet, so wait for the price to break through the neckline for the pattern to be confirmed. Share your thoughts 🙏
Long
by FieryTrading
9
CHZ - Bullish on Weekly Chart#CHZ/USDT #Analysis Description --------------------------------------------------------------- + Looking at the weekly chart, CHZ is displaying a distinct breakout from the channel, indicating an overall bullish signal. + Examining the higher timeframe reinforces this bullish sentiment. + On the lower timeframe, we might anticipate a price pullback, presenting a favorable opportunity to improve our entry price through averaging. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 0.12756 Stop Loss: 0.04482 ------------------------------ Target 1: 0.16175 Target 2: 0.24233 Target 3: 0.35612 Target 4: 0.46627 Target 5: 0.90295 ------------------------------ Timeframe: 1W Capital Risk: 1-2% of trading amount Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Long
by VectorAlgo
🔥 ADA: Don't Miss The Entry Of A LifetimeI've made several analyses on ADA before where I talked about this parallel channel and argued that there's a possibility of ADA going for the top of the channel in the coming bull-cycle. It's not a likely outcome, but with a R/R ratio of 116 it's worth the risk. This could be your best ADA entry for the rest of your life. The best entry would be from the support of the channel, maybe a bit lower on a wick of some sort. Keep an eye on this trade!
Long
by FieryTrading
12
The weekly on btcusd.Interesting weekly candle, a hammer that needs confirmation in the next 2 or 3 weeks. These types of patterns require confirmation within the following 2/3 sessions, they represent a retracement in the majority of cases, only if seen on the top or bottom can they represent a reversal, here we have no such scenario, the candle has manifested itself during an intermediate correction, ergo the retracement or correction could end here. Now we just need to observe the next weekly sessions, a perforation of the hammer low could mean that the correction is not over, but at that point the scenarios would change if this hypothesis were to manifest itself.
BITFINEX:BTCUSD
by Melupira89