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Breakdownanalysis

XAUUSD Technical Analysis 5th March 2024 1h chart– Monday Daily candle closed extremely Bullish tapping into 2120.000 level as the Friday Bullish momentum continues. I’ll be looking for potential Buys above 2120.000 targeting 2130.000 and 2140.000 as strong Key Levels to be tapped in the anticipation for price to fill parts of the Rejection Wick on the Monthly timeframe. I’ll be looking for potential Sells below 2107.600 targeting 15min Support around 2099.000 and 1h previous Resistance around 2088.700. Ideally is to allow price to range during Asian session and wait for Pre London session to either continue the Bullish momentum or correct the recent Bullish move.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 5th March 2024 1h chart– Monday Daily candle closed strong Bullish around 191.000 below recent Daily Resistance formed on Tuesday 27th February 2024. I’ll be looking for potential Buys above 191.280 targeting Weekly Support formed on 27th July 2015 around 191.840 and next Daily Support formed on 10th August 2015 around 192.380. I’ll be looking for potential Sells below 190.730 targeting previous 4h Resistance formed on 1st March 2024 around 190.280 and next 4h Support around 189.770. Despite the Monday been extremely Bullish price still closed below recent Daily Resistance so there is a probability for Daily Retracement.
by SalimFX20
XAUUSD Technical Analysis 4th March 2024 1h chart– Previous Weekly candle closed extremely Bullish above recent Weekly Resistances, Friday Daily candle also closed strong Bullish around 2082.900. I’ll be looking for potential Buys above 2088.500 targeting Asian session open formed back on 4th December 2023 around 2096.000 and the Pre Asian session formed on 4th December 2023 aswell around 2110.000. I’ll be looking for potential Sells below 2080.000 targeting previous Weekly Resistance formed on 4th December 2023 around 2072.000 and previous Monthly Resistance formed in January 2024 around 2063.000. As the Friday Daily candle has been extremely Bullish there is a higher probability for price to correct The breakout.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 4th March 2024 1h chart– Previous Weekly candle closed Bearish forming Weekly Resistance around 190.630, Friday Daily candle closed weak Bullish around 189.850 forming weak Daily Support formed around 189.290. I’ll be looking for potential Buys above 190.310 targeting 4h Resistance formed at 190.870 and the previous Monthly High to be filled around 191.330. I’ll be looking for potential Sells below 189.590 targeting 4h Support around 189.210 and the previous Strong Daily Support formed on 16th February 2024 around 188.800. Ideally is to allow the Asian session to form a new range for the new week ahead and wait for a good setup around the Pre London / London open.
by SalimFX20
XAUUSD Technical Analysis 1st March 2024 1h chart– Thursday Daily candle closed extremely Bullish around 2044.500 breaking above recent Daily Resistance. I’ll be looking for potential Buys above 2050.800 targeting 4h Resistance around 2056.900 and Weekly Resistance around 2062.900. I’ll be looking for potential Sells below 2041.500 targeting 4h Support around 2034.500 and 30min Support around 2028.200. High Impact News ahead of the New York session for the US Dollar which may create volatility in the market.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 1st March 2024 1h chart– Thursday Daily candle closed strong Bearish breaking out of the recent Daily range. I’ll be looking for potential Buys above 189.510 targeting 1h Resistance at 190.020 and 4h previous consolidation zone around 190.450, I’ll be looking for potential Sells below 188.940 targeting 4h Support around 188.320 and next 1h Strong Support around 187.890. Thursday Daily candle played exactly as anticipated early on the week and there is a good probability for the current Weekly candle to close Bearish forming Weekly Resistance.
by SalimFX20
XAUUSD Technical Analysis 29th February 2024 1h chart– Wednesday Daily candle closed Bullish within recent Daily Range as price continue to consolidate. I’ll be looking for potential Buys above 2038.100 targeting previous Weekly Support formed on 8th January 2024 around 2045.400 and 1h previous Support formed on 2nd February 2024 around 2052.500. I’ll be looking for potential Sells below 2030.300 targeting Daily Support formed around 2024.300 and 4h Support around 2017.000. The High Impact News ahead of the New York session for Thursday might be the token for price to break out of the current Daily / 4h range.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 29th February 2024 1h chart– Wednesday Daily candle closed weak Bearish as price continues to consolidate within the 4h timeframe. I’ll be looking for potential Buys above 190.970 targeting 4h Resistance at 191.310 and previous Weekly Support formed on 22nd July 2015 around 191.840. I’ll be looking for potential Sells below 190.310 targeting 1h Strong Support around 189.940 and previous 4h Support formed on 21st February 2024 around 189.490. Sells are more likely to play out rather than Buys as price is failing to continue bullish and Monthly candle closing before end of the week.
by SalimFX20
XAUUSD Technical Analysis 28th February 2024 1h chart– Tuesday Daily candle close weak Bearish rejecting the upside and respecting recent Daily Resistance. I’ll be looking for potential Buys above 2038.100 targeting previous Weekly Support formed on 8th January 2024 around 2045.400 and 1h previous Support formed on 2nd February 2024 around 2052.500. I’ll be looking for potential Sells below 2027.500 targeting 1h previous Support formed on 21st February 2024 around 2020.700 and 4h Support formed around 2015.700. As price ranged within the 4h timeframe during this week.
OANDA:XAUUSD
by SalimFX20
1
GBPJPY Technical Analysis 28th February 2024 1h chart– Tuesday Daily candle closed weak Bearish forming Daily Resistance around 191.120. I’ll be looking for potential Buys above 191.300 targeting previous Weekly Support formed on 27th July 2015 around 191.840 and previous Daily Support formed on 10th August 2015 around 192.350. I’ll be looking for potential Sells below 190.450 targeting 1h Strong Support formed at 189.960 and 4h previous Resistance formed on 21st February 2024 around 189.490. as anticipated price is failing to continue bullish as the Monthly candle coming to a close so it would make sense to see pullback on the Daily to allow the Monthly candle to close with a top wick to the upside.
by SalimFX20
GBPJPY Technical Analysis 27th February 2024 1h chart– Monday Daily candle closed Bullish filling the previous Weekly High. I’ll be looking for potential Buys above 191.330 targeting previous Weekly Support formed on 27th July 2015 around 191.840 and previous Daily Support formed on 10th August 2015 around 192.350. I’ll be looking for potential Sells below 190.900 targeting 4h Support formed at 190.450 and 1h Strong Support around 189.960. The Bullish candle for Monday could of been Weekly forming a high before retracing to form a potential Weekly Resistance, that will also allow the February Monthly candle to close with a wick to the upside.
by SalimFX20
XAUUSD Technical Analysis 26th February 2024 1h chart– Previous Weekly candle closed strong Bullish around 2035.400 forming Weekly Support around 2013.200, Friday Daily candle closed Bullish within Daily Resistance formed back on Wednesday 7th February this year. I’ll be looking for potential Buys above 2041.700 targeting previous 1h Support formed on 1st February at 2046.200 and previous 4h Range formed around 2052.600. I’ll be looking for potential Sells below 2033.300 targeting 30min Support around 2027.000 and 1h previous Support around 2020.700. Despite the Weekly and last Daily candle closing Bullish there is a high probability for price to reject the 2050s / 2052s range as price previously ranged around those levels.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 26th February 2024 1h chart– Previous Weekly candle closed strong Bullish at 190.650 , Friday Daily candle closed weak Bullish leaving a Rejection wick to the upside. I’ll be looking for potential Buys above 190.840 anticipating for price to fill the previous Weekly High at 191.140 and previous Daily Support formed on 28th July 2015 around 191.460. I’ll be looking for potential Sells below 190.400 targeting 1h Support around 189.930 and another Hourly Support around 189.590. Despite the previous Weekly candle closing Bullish, there is a good probability for price to form Daily Resistance for Monday knowing that the Friday Daily candle closed weak Bullish with a Rejection wick to the upside.
by SalimFX20
XAUUSD Technical Analysis 23rd February 2024 1h chart– Thursday Daily candle closed weak Bearish forming Daily Resistance and rejecting Daily Resistance formed on 7th February around 2035s. I’ll be looking for potential Buys above 2031.100 targeting Daily Resistance at 2036.000 and 1h Resistance at 2042.600. I’ll be looking for potential Sells below 2021.100 targeting 4h Strong Support at 2016.900 and next 1h Strong Support around 2011.700. The Buys and Sells targets remained the same for 3rd day this week as price still ranging on the 4h timeframe within the No Trade Zone we’ve had in place.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 23rd February 2024 1h chart– Thursday Daily candle closed Bullish as price fills the previous Weekly High. I’ll be looking for potential Buys above 190.800 targeting previous Daily Support formed on 28th July 2015 around 191.460 and previous Weekly Support formed on 27th July 2015 around 191.850. I’ll be looking for potential Sells below 190.250 targeting 1h Support formed at 189.800 and previous 4h Resistance formed at 189.500. Despite current Weekly candle trending Bullish, there is a slight probability for price to retrace on the Weekly meaning Friday Daily candle could possibly form Resistance.
by SalimFX20
1
XAUUSD Technical Analysis 22nd February 2024 1h chart– Wednesday Daily candle closed weak Bullish as price keeps on consolidating on the 4h timeframe. I’ll be looking for potential Buys above 2031.000 targeting Daily Resistance at 2036.000 and 1h Resistance around 2042.600. I’ll be looking for potential Sells below 2021.900 targeting 4h Strong Support around 2016.900 and 1h Strong Support around 2011.700. The analysis kept almost the same as the one posted yesterday as price consolidated within the No Trade Zone identified previously.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 22nd February 2024 1h chart– Wednesday Daily candle closed Bullish above recent Daily Resistance formed on Wednesday 14th (last week). I’ll be looking for potential Buys above 190.000 targeting previous Weekly Support formed back in 2004/2005 around 190.340 and Daily Rejection formed on 27th July 2015 around 191.000. I’ll be looking for potential Sells below 189.610 targeting 4h Support formed at 189.280 and Daily Support formed at 188.940. High Impact News ahead of the London session for the Pound Sterling which may bring volatility to the market.
by SalimFX20
1
XAUUSD Technical Analysis 21st February 2024 1h chart– Tuesday Daily candle closed Bullish around 2024.500. I’ll be looking for potential Buys above 2030.500 targeting Daily Resistance around 2036.000 and 1h Resistance around 2042.600. I’ll be looking for potential Sells below 2022.500 targeting 4h Strong Support at 2016.900 and 1h Strong Support around 2011.700. The idea posted on the previous analysis for price to form 4h Resistance is already coming into a play despite the last 4 Daily candles being Bullish as the current Bullish trend on Gold could be Weekly candle forming top wick before breaking the lows to fill the previous Weekly low.
OANDA:XAUUSD
by SalimFX20
GBPJPY Technical Analysis 21st February 2024 1h chart– Tuesday Daily candle closed weak Bullish and Rejected Daily Resistance formed Wednesday 14th February (Last week) as price still consolidating on Daily timeframe. I’ll be looking for potential Buys above 189.670 targeting 4h Resistance formed at 190.030 and previous Weekly Support formed back in 2004/2005 around 190.300. I’ll be looking for potential Sells below 188.840 targeting 4h Support at 188.320 and 1h Strong Support around 187.920. Targets for both Buys and Sells kept tight due to price ranging on the Daily and 4h timeframe up until we get decent confirmation on price breaking out of the current range.
by SalimFX20
Paytm - Royal Trapping of Retailers (or) Real Bullish Reversal ?Paytm is Hot News for the past couple of weeks on all Social Media channels for obvious reasons. While RBI and Central Govt turned their back on Paytm, the once famed as Hero is now on the verge of becoming Zero. Right from the IPO valuations, Paytm is not in good books of many investors and has been losing its value continuously from 2000 all the way down to 300 range now While Many Retailers who are Trapped in there - looking up to the almighty for a saving hand, many feel the new about Axis bank taking up the role of Paytm Payments Bank is that Light at end of the Tunnel. Do the Technicals support this view ? or is it one more ploy by the Biggies to Royally Trap the Already Beaten down Retail investors ? Let's review below Technical Analysis: Monthly Chart: Right from IPO the price fell, then moved upside inside a Parallel Channel forming a Bearish Flag pattern then Breakdown of Flag which is so bad Weekly Chart: We published the Weekly Chart on Feb 14 - clearly calling Paytm to be a dangerous script to invest in right now. It Broke-down from the 2 Year Upward Parallel Channel and broke the Last 3 Rays of Hope (the 3 Support lines). It was a Classic case of Breakdown-Retest-Fall Daily Chart: On the Daily chart - for the past 3 days, Paytm is hitting 5% UC, but where is it heading ? Heading right to the Previous Bounce Zone - 395. Now Why is 395 so significant ? Its not just the Resistance Now - but rather on the Fibonacci Retracement scale - 395 is sitting right at 0.382 Retracement Level. Remember Fibonacci Retracement rule ? If any stock happens to Retrace to any one of Fibonacci Levels and It also happens to be a Support / Resistance then it adds more power to the Support or Resistance. In this case, its a Resistance. If the Price gets rejected from 395, then again its the classic case of Breakdown-Retest-Fall What is Safe Zone now ? Anyone Already Holding Paytm - continue to Hold and wait for confirmation of Rejection / Breakout of Resistance at 395 zone New Entries must strictly be avoided at this stage - No Bottom Fishing - else you wont survive to have your Sunday Fish Fry :) The Bullish Confirmation starts only after successful and decisive Break-out of all 4 Resistances (395, 440, 480, 525). Until then - it is still Bearish Play Safe..Advice Caution...No New Entries Disclaimer: 3+ Years Teaching Experience in Stock Market - Technical Analysis, Advanced Patterns, Emotional Management, News based Trading... We are NOT SEBI Registered Our focus is NOT providing Buy/Sell Recommendations/calls Primary Objective is to provide detailed analysis of how to review a chart, explain multi--timeframe views purely for Educational Purposes. We strongly suggest our followers to "Learn to Ride the Tide irrespective of its Side" *** Important *** Consult your Financial Advisors before taking any positions If you like our detailed analysis, please do rate us with your Likes, Boost and share your comments -Team Stocks-n-Trends
NSE:PAYTMShort
by Stocks-n-Trends
XAUUSD Technical Analysis 20th February 2024 1h chart– Monday Daily candle closed small Bullish as price ranges on the 4h timeframe. I’ll be looking for potential Buys above 2022.400 targeting 1h Resistance at 2028.400 and 4h Resistance at 2034.400. I’ll be looking for potential Sells below 2013.100 targeting 1h previous Resistance at 2007.600 and recent 4h Support at 2001.300. There is still a good probability for price to fill the previous Weekly Low. Would be good to have 4h rejection to upside followed by 4h / Daily Resistance to have the probability on our favour
OANDA:XAUUSD
by SalimFX20
XAUUSD Technical Analysis 19th February 2024 1h chart– Previous Weekly candle closed weak Bearish with an almost 300 pip Rejection wick to the downside. Friday candle closed Bullish retesting the previous Weekly Support area formed at the end of January 2024. I’ll be looking for potential Buys above 2015.300 targeting previous 4h Support area formed around 2020.000 and recent 4h Resistance formed at 2026.800. I’ll be looking for potential Sells on close below 2008.500 targeting recent 4h Support at 2001.400 and 1h Support around 1996.000. Despite the Weekly closing Bearish with a rejection to the downside there is still a good probability for the new Weekly candle to fill the Rejection wick.
OANDA:XAUUSD
by SalimFX20