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Breakouttrading

Will SILVER Finally Break The Support Level?Hi Traders! There is a potential breakout on SILVER as it tries again to break the long-term support level.   Here are the details: Looking at the price action, it looks bearish; the market swings are lower with lower highs and lower lows. The market has broken and closed under the 20 EMA, and this is the third time around the 21.885 support level. The plan is to wait and see how the market reacts at 21.885. If the market holds above this level, then it will likely target the resistance trendline. However, if there is a break and close below 21.885, there is a good chance of targeting the long term support level at 20.696. Preferred Direction: Sell Technical Indicators: 20 EMA Resistance 1: 22.639 Support 1: 21.885 Support 2: 20.696 Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
TVC:SILVERShort
by BluetonaFX
1
Cup and Handle Pattern Breakout Arbitrum (ARB), observed on the 1-day timeframe, has constructed a substantial Cup and Handle pattern, signaling a potential bullish sentiment in its price movement. The recent breakout above this pattern confirms the bullish bias. The analysis suggests an expectation of a retest around the support zone, with an ideal entry point identified at $1.44. 🔄 Cup and Handle Pattern Formation: ARB has successfully formed a significant Cup and Handle pattern on the daily chart, a technical formation often associated with bullish reversals. The breakout above this pattern indicates a potential continuation of the upward trend. 🚀 Bullish Momentum Confirmation: The breakout above the Cup and Handle pattern serves as a confirmation of bullish momentum in ARB. This pattern suggests a shift from a consolidation phase to a potential uptrend, and traders are likely to monitor for opportunities aligned with this shift. 📉 Anticipated Retest and Entry Point: The analysis anticipates a retest of the support zone following the Cup and Handle breakout. The ideal entry point for traders could be around $1.44, coinciding with the potential retest zone. This level provides an opportunity for traders to enter bullish positions. 💡 Trading Strategy: Traders considering ARB may strategize for a potential entry around $1.44, contingent on the anticipated retest of the support zone. Confirmation of support at this level could serve as a signal for bullish positions. Implementing risk management strategies, such as setting stop-loss orders, is crucial. 🔮 Future Outlook: The technical analysis suggests a bullish outlook for ARB following the Cup and Handle pattern breakout. Traders should closely monitor the anticipated retest around $1.44 for potential entry opportunities. As with any trading decision, adaptability and risk management remain essential in navigating the cryptocurrency market's dynamic nature.
by AlexWhale
SWING IDEA - NEW INDIA ASSURANCE COMPANYthe New India Assurance Company Limited (NIACL) currently presents a compelling swing buying prospect. Reasons are listed below : After multiple tests in the 250-260 zone, NIACL has successfully breached this critical level, signaling a potential shift in momentum. A bullish marubozu candle on the daily timeframe emphasizes the strength of the upward movement, suggesting sustained buying interest. Breaking free from a two-month consolidation period, NIACL is poised for a new directional move, indicating a release of pent-up energy in the market. The consistent formation of higher highs underscores the stock's upward trajectory, reflecting a positive trend. The overall uptrend is evident, providing a favorable backdrop for traders looking to capitalize on potential price appreciation. Trading comfortably above both the 50 and 200 exponential moving averages (EMA) signifies a robust position and adds a layer of confidence to the bullish case. Increased trading volume during this period supports the validity of the breakout, providing additional confirmation of the stock's upward momentum. Target - 300 // 347 StopLoss - daily close below 242 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:NIACLLong
by Visionary_Growth_Insights