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Bullishpriceaction

MGL-LONG DAILY TIMEFRAME NSE:MGL Stock is consolidating in Descending triangle pattern from past few days. It is taking support on previous Break out level which is 1015-1020. On 22nd June we can see a clear rejection from top. Following to the rejection there is a big red candle which is closed near support levels. Now here comes the interesting part the red candle did not got the follow through. The stock has opened slight gap down on Monday (27th June) and it has been sharply pushed up by buyers. This is a good opportunity to go long and with low SL (approx. 2%) Please wait for the bullish price action if it opens gap down on Tuesday (28th June) SL: 1010 Target: 1070 The entry is bit early as I mentioned that previously red candle did not got the follow through. This is only for educational purpose, please manage your risk accordingly.
NSE:MGLLong
by Rushikesh_09
XLM/USDT | Head and Shoulders | Trend Reversal | Trade Setup Today's analysis – XLM/USDT – Retracing after a strong break of structural resistance Points to consider: - Macro trend reversal - Bullish price action - S/R flip re-test - Volume influx - Oscillators overextended - 21 EMA visual guide XLM showing convicting signs of a macro trend reversal as it breaches a key level coinciding with monthly structural resistance and its head and shoulders neckline forming a bullish bias in the market. Multiple bullish engulfing candles with strong volume follow-through is indicative of buyers present in the market and trend continuation is probable. Price respecting structural support upon retest will solidify the S/R flip and substantiate the bullish bias. The influx of volume needs to sustain as price retraces and tests support to solidify the price action and avoid any fake-outs. Both oscillators cooling off from overbought conditions, a retrace and consolidation above support will neutralise and prime the oscillator for a trend continuation. Both the RSI and stochastics need to range above 50 to maintain the bullish bias in the market. Further price development will allow the 21 EMA to act as a visual guide, assisting in trade management. Overall, in my opinion, a successful S/R flip re-test of neckline resistance validates a long trade to technical targets above with risk defined below support. What are your thoughts? If you’ve read this far - thank you for following my work! And as always, Focus on you, and the money will too!
Long
by Kudiiee
Multi-year Resistance BrokenThe multi-year resistance level we have been discussing in this market in recent times has now been broken with price making a solid move higher. There looks to be a large amount of space for price to move higher into, so the resistance level price has just broken out of looks to be crucial. If this old resistance can hold as a new support price flip level it could be the key for price making a new leg higher. It could also be a solid level to watch for bullish price action clues. Thanks for your like and support
FX:XAUUSDLong
by TaherJalili