BSE - Better to Safely Exit BSE Ltd has been in limelight offlate with the rumors of listing of its cousin NSE :) But let's do a deep dive analysis to see if it is safe to Hold / Buy BSE
1. On Quarterly Chart - the Price had a 4 year Rounding Bottom BO above 480 levels, followed by a Retest of BO zone with a Fib 0.618 Golden Ratio retracement
In the Long Term view - the price has COMPLETELY exhausted ALL possible "Extended" Targets of Fibonacci up until 4.764 levels without ANY retracements in the Quarterly chart. After completely reaching all targets, price is now retracing from 4.764 level as well. Also, the price broke out of multi-year parallel Channel but giving it is retracing, it will definitely come inside the channel before end of this Quarter (Dec 2024)
So, given the Quarterly view - without a retracement - DON'T expect any more rally - any intermediate bursts would be a perfect Honey Trap to innocent retailers - SO AVOID
2. On Monthly Chart - the price took 2 small dips when it tested the Multi-year Parallel Channel around 2,500 levels and then at 3,265 level - thus forming a Double Bottom structure at 2,200 level
The Double Bottom target is 4,420 which has already surpassed. While forming Double Bottom on Monthly, the price took a Fib 0.382 retracement with Fib 1.0 target of 4,975 (which matches the Fib 4.764 target of larger quarterly pattern)
Also, on Monthly, the price has given a Massive 1,128% return within just 1.5 years since Mar 2023. How much more do you expect ??
As you can see - ALL possible Technical Targets have been met and its risky if the price falls within the long term parallel Channel
So, existing holders - Book 50% or take your Principal out.
STRICTLY NO FRESH Entries - until clear consolidation which will either be a Price consolidation by falling a minimum of Fib 50% or time consolidation by going sideways until it reaches the Bottom of the Parallel Channel - sometime until Dec 2025 or even later (depending on the angle it takes)
Bearishsignal
EURUSD Bear Flag PatternHi Traders!
There is a bear flag pattern on the EURUSD 4H chart.
Here are the details:
The price action looks bearish, and the market is currently in a consolidation phase in the flag's channel. The 20 EMA has been broken, and we are getting bearish momentum candles forming, and we are awaiting a possible test of the flag's channel to the downside.
Preferred Direction: Sell
Resistance: 1.09160
Support: 1.08566
Technical Indicators: 20 EMA
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
AUDUSD Possible Pennant BreakHi Traders!
There is a potential bearish pennant break on the AUDUSD.
Here are the details:
Price is currently on the 20 EMA, and with market swings with lower highs and lower lows, the price action suggests that this is a bearish setup.
We are looking for the market to target the trendline support with a possibility of a break below to target levels near the monthly low at 0.66406.
Preferred Direction: Sell
Technical Indicators: 20 EMA
Resistance: 0.62748
Support: 0.66406
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
EURUSD Downside ContinuesHi Traders!
EURUSD looks to be continuing to the downside, and there is potential for a support price break.
Here are the details:
The market continues to swing lower with lower highs and lower lows; the price has also broken below the 20 EMA recently.
We are looking for the market to remain below the 20 EMA to continue downwards towards the support area. Should the market reach the support area, there may be some demand there as the market will not have been that low in a month.
If there is a break below the support area, then the target level is 1.08300.
Preferred Direction: Sell
Technical Indicators: 20 EMA
Resistance: 1.09547
Support Area: 1.08929–1.08700
Target Level: 1.08300
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
SPX Bull Run May Be OverHi Traders!
SPX looks to have fallen short of the record high, and there could potentially be a big pullback that is about to occur.
Here are the details:
There is an evening star candle pattern currently on the 1W chart, and this is the first week the market's weekly open price has opened substantially lower than the previous week's closing price in about 8 weeks.
We are looking for a pullback to test the previous resistance break at 4637.30, which is now the support, and if the market breaks below that, then the next level will be trendline support at 4331.90, which lines up with the 38.2 Fibonacci retracement level at 4311.69.
Preferred Direction: Sell
Technical Indicators: 20 EMA
Resistance: 4818.62
Support: 4637.30
Trendline Support: 4331.90
38.2 Fibonacci Support: 4311.69
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
AUDUSD Fails At 6-Month HighHi Traders!
AUDUSD has tested the 6-month high but has failed, and there is a potentially big pullback that is about to occur.
Here are the details:
After the range zone breaks to the upside, The market was in an aggressive bull rally to tray and test the 6-month high but has exhausted due to a strong bearish presence at the 6-month high.
The next signal to confirm this will be a price break below the 20 EMA for a confirmation signal.
Preferred Direction: Sell
Technical Indicators: 20 EMA
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
GBPUSD Head & Shoulders OpportunityHi Traders!
There is a pullback on the bullish momentum we have had over the past few days on GBPUSD, and there is a head-and-shoulders pattern on the 2H chart.
Here are the details:
The market is rapidly approaching the neckline, and there are opportunities for short entries to target a break below the neckline.
The market has also broken below the 20 EMA, and a close below the 20 EMA will be an added confirmation signal.
Preferred Direction: Sell
Entry Level:1.27504
Stop Level:1.27806
Target Level: 1.26900
Technical Indicators: 20 EMA
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
USDJPY Under More PressureHi Traders!
USDJPY is under more pressure as we head into the final trading days of the year.
Here are the details:
The price action here on the 4H chart is extremely bearish. The 20 EMA has been broken, the market swings are getting lower and lower without any bullish pullbacks suggests that there are hardly any bulls in the market at this current time.
We anticipate that the market will soon break below the 140 psychological level.
Preferred Direction: Sell
Technical Indicators: 20 EMA
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
NZDUSD Short Trade Setup A short trade opportunity recently presented itself on the kiwi-dollar trading chart 📉.
This is indicated by the bearish engulfing candlestick 🕯️ pattern just on the 0.60210 horizontal resistance level.
This indicates a false breakout (fakeout) of the same level, with potential price move in the downward 👇 ⬇️ direction.
Sufficient downward momentum should see price dumping towards the 0.59000 psychological level and possibly testing the strength of the 0.58590 horizontal support level.
As always, please apply appropriate risk management.
Happy trading!
NZDJPY Sell Setup A bearish trade opportunity recently presented itself on the kiwi-yen trading chart 📉.
This is indicated by the bearish inverted pin bar just below the 88.957 horizontal resistance level.
This shows a rejection of the same resistance level, with potential price move in the downward ⬇️ 👇 direction.
Sufficient downward momentum should see price dumping towards the 86.000 psychological level and possibly testing the strength of the 85.715 horizontal support level.
As always, please apply appropriate risk management.
Happy trading!
#NZDJPY #kiwiyen #shortsetup #bearishsignal #sell #trading #crosspair
Will shorting ETH today lead to a breakoutI am anticipating the top of this intraday indecision uptrend. The 4 hour has been creating weak candles throughout this bullish push to retest 38.2. or the bearish engulfing for the daily Lower high. Intraday on the 1hour chart price presented a shooting star at a retest of a prior shooting star. I placed my stop loss just above some prior highs in that area.
BTCUSD Pullback to Neckline AccomplishedPrice action pulled back to the dynamic neckline resistance from the major Head and Shoulders in formation. From the chart pattern perspective, this phase can considered a important turn-point, which psychological terms can rise interests for the bearish-side and growth of bearishness of market. In addiction, retroactive Fibonacci retracement potential fractal suggest a 88.6% targe in decline to fill in confluence to the potential double-down correction from this H&S. Classical short setup. In addiction, a strong reaction by buyers HODLers can be expected in a potential bounce from the Anchored VWAP of 2018 low, which is a strong area of interest / equilibrium to fill. If the price breaks-down the demand, a new phase of bearish leg-downwards / collapse can plays-out, which will lead us to a capitulate.
BTC 4H ADAM AND EVE PATTERNBTC's new range? its still bearish.
> 4h Adam and Eve pattern.
> btc didnt hold above 21200 last day
> rejection from importatant level
> quaterly results are bad
> 6 month chart will result in panic selling and capitulation
if btc rallies up then any long above 23k (above this range) is safe. if that happens we target imbalances on top till 28k-39k.
everything else explained in chart..
aiming for 16k-14k-11k next
Msft:Even the giants are falling!Microsoft
Short Term - We look to Sell at 260.71 (stop at 269.78)
The primary trend remains bearish. A sequence of weekly lower lows and highs has been posted. We can see no technical reason for a change of trend. Preferred trade is to sell into rallies. Further downside is expected.
Our profit targets will be 238.72 and 230.00
Resistance: 267.00 / 290.00 / 315.00
Support: 238.00 / 200.00 / 180.00
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AMC to $55 by the end of November?From the $34.50s to $47.23 sell off. The 1.618 suggest $55 is the next swing. From what I see today AMC peak at $44 and start to show bearish signal. I expect harsh retracement. Ideally I would love it dip around $40-42 and consolidate goes up. But if it has a harsh reaction $37-39 is the bottom. AMC atm most likely will form a smaller symmetrical since the beginning of November before ripping out. I will update in the next week or so to see the price pattern changes.
ETH USDT: SELL @ 3520Hello All, hope you are having a great day!
Welcome to today's "Aglogains - Daily Trade Series"
ETH USDT has rallied up to 3533 making new short term higher highs, proving the strong continuation of the uptrend we have been seeing. If we look towards the left a bit, around the price range of 3520 to 3560 ETH USDT has seen a strong resistance.
Since ETH has now reached this key resistance area, I'm now looking to take a SELL entry if there are objective signs of reversal.
In the 15 MIN time frame ETH has formed a double top, followed by a bearish engulfing candle, which gave us the SELL entry signal at 3510, I missed this price and could enter at 3521
Key resistance zone: 3520 - 3560
As this is a trend reversal trade please manage your position size accordingly as there is a higher chance our stop loss will get hit.
Entry - 3520
Stop Loss - 3554
Take Profit - 3450
Will keep you posted on the progress of the trade.
What do you think? Will the market reverse at this point? What's your outlook?
Berkshire Hathaway (BRKB) breakout the Triangle:The technical figure Triangle can be found in US company Berkshire Hathaway (BRKB) at daily chart . Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. The Triangle has broken through the support line on 04/09/2021. If the price holds below this level, you can have a possible bearish price movement with a forecast for the next 50 days towards 260.16 USD. According to the experts, your stop-loss order should be at 291.81 USD if you decide to enter this position.
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USD/MXN LOOKS BEARISHHello Traders!
USD/MXN looks bearish! MACD has just crossed below with a good bearish strength – RSI looks pessimistic with a good range from being oversold.
HISTORICAL SUPPORT might be reached, so stay alert!
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!