Candlestick Analysis
Nasdaq Outlook: 07-NOV-2024Good morning, traders! Welcome to today's Nasdaq market analysis. Compare my price action insights with your own charts and enhance your trading skills.
#Nasdaq
#StockMarket
#Trading
#Investing
#DayTrading
#SwingTrading
#TechnicalAnalysis
#MarketAnalysis
#FinancialNews
#WallStreet
#NasdaqToday
#NasdaqAnalysis
#NasdaqTrading
#StockMarketNews
#MarketTrends
#InvestmentStrategies
#FinancialMarkets
#TradingTips
#NasdaqForecast
#MarketInsights
#Nasdaq100
#TechStocks
#GrowthStocks
#IndexFunds
#ETFs
#StockMarketAnalysis
#TradingStrategies
#RiskManagement
#InvestorEducation
#FinancialLiteracy
#EarningsSeason
#FederalReserve
#EconomicIndicators
#MarketVolatility
#GlobalMarkets
Nifty Analysis: How much more pain left? Where is the bottom?Nifty Analysis:
1) Today's low 23816 is very important level to watch.
2) Next support at 23502 (Father Line or 200 days EMA).
3) Final Major support near 23201(Trend line meeting point and 50 weeks EMA (Major Mother Line).
4) Closing below 23201 has potential to break the hell loose.
5) Resistance on the upside at 24145, 24320, 24506 and 24781 (50 days EMA-Mother Line).
6) Bulls can take control only after we get a closing above 24781.
To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
BITCOIN Is this my first one I'm not sure Here in this video, we take a look at the monthly, The Weekly, accidentally the 1 hour, and The Daily, any way here is my analysis of the chart. You can go back on your own in your own chart and look at it and see if you see something different if you do let me know. Monthly and Weekly, we see a cup and handle forming. On a Daily a Bearish Rising Wedge. As you can see where this goes is depending on how tomorrow goes, If Kamala wins everyone is selling because they are going to have to pay the taxes that she will raise, If Trump wins everyone is Buying cause of the Taxes that he is going to cut
USD/CAD teeters on bearish reversal brink ahead of US electionBearish reversal patterns generated by USD/CAD on the daily timeframe have enjoyed a decent track record recently, especially following a pronounced bullish trend. That makes today's early price action interesting, with the price reversing hard after closing at fresh 2024 highs on Friday.
As the daily candle has yet to be competed, getting short pre-emptively screens as a low probability setup. But if we do see a bearish engulfing candle print, it will provide a decent short setup heading into US election day, especially if the price bounces a touch from current levels.
To make the trade stack up from a risk-reward perspective, the price would need to break several nearby levels, including the uptrend from October 15 and horizontal support at 1.3869. If they were to fold, 1.3815 is one potential target with 1.3748 and 1.3700 the next after that. A stop-loss order above Friday's high would offer protection against reversal.
Bolstering the case for potential downside, RSI (14) has broken the uptrend it was sitting in after sitting in overbought territory for more than a week, hinting bullish momentum may be starting to turn. While the signal is yet to be confirmed by MACD, that too is looking like it may soon rollover as it moves closer to the signal line.
Good luck!
DS
AUDCHF SHORTAs outlined in the video i expect this pair to continue short as it has been the last few weeks, toward the end of last week it did pull back quite abit, along with all other AUD pairs so i was just watching it for another entry which it has given. I must say the position is pretty text book and i will have eyes on for the market open and the first few higher timeframe closes to see the sentiment likely continue.
Monthly
Weekly
Daily
4hr & Entry
All ideas ill be posting are strictly for journalling purposes, therefore always do your own due diligence but if you like the analysis and breakdown pls leave a thumbs up and comment ;)
Bitcoin (BTCUSD) - There's A Problem...On the 29th Oct 2024, you would expect a blow out top, sweeping all time highs, running on all time highs whilst maintaining a strong bullish closure going into the ending of the week but what we are seeing right now is a bullish shooting star formation with the candle body currently under the previous 2 weeks highs. This signifies weakness in bullish momentum, especially if price closes this way on Sunday.
Relief retracement back down to $65,000, even if it's a manipulated spike down to that region does not seem far fetched.
Gold (XAUUSD) - Is $3,000 Per Oz Possible In 2024?There is growing sentiment for gold to reach $3,000 per oz, with the market peaking @ $2,790 current all time highs.
Minor retracements is healthy in the grand scheme of the bull run and bearish continuation down to the daily fair value gap @ $2,214 - $2,697, taking daily buyside liquidity is a reasonable draw going into next week.
EUR/USD - Will We See Bearish Continuation? Much clearer price action than GBPUSD, with Friday rejecting the weekly order block, closing below the prior days low.
Daily bullish order block up for grabs, aiming for low hanging fruits @ 1.07793 - 1.08069.
Very cautious as the US elections is right around the corner.
GBP/USD - Fickle Market Conditions There will be times where higher probability conditions presents itself in GBPUSD but for now, the market is riddled with high resistance, ever since we have dropped down into a discount below 1.30497.
With the election taking place on the 5th November 2024, next week, i am expecting volatility.
Dow Jones (YMZ2024) - Patience Pays In Conditions Like ThisIt's the best time to sit on your hands and gather more price data as there is a lot going on right now making the probabilities for a draw on Sellside 50/50.
High probability trading conditions is where i thrive in but right now, we are not seeing that.
Nasdaq (NQZ2024) - Better Trading Conditions Is ComingSimilar to S&P 500, we have seen a lot of high resistance periods, making it challenging to anticipate with a high accuracy where the next draw on liquidity will be.
Recently, we have seen a shift in market structure, with $20,398* being the weekly consequent encroachment for this week.
S&P 500 (ESZ2024) - It's Margin Call SeasonIt's been a rough few weeks for traders as many are complaining about high resistance conditions throughout the past couple of weeks and booyyyy are they right!
Although i have managed to eek a tiny bit of success recently in these conditions, I HIGHLY RECCOMEND against trading with maximum leverage in conditions like this, especially if not a scalper.
Unfinished business @ Sellside is tickling my fancy @ $5,725.25
Dollar Index - Believe In The Bulls!For close to 2 weeks price has been stagnating but when you take the overall medium term trend into consideration, you have to ask yourself this; does this minor relief rally have the possibility of causing a major market structure shift before reaching a major buyside liquidity pool above 104.636?
US T-Bonds - Will Buyers Continue To See Pain?Slowly we see the decline in price action and although it's a very choppy time we are in, the continuation to the downside, at least down to 115.30 going into the next weeks seem very reasonable.
Although bearish, placing shorts in market conditions like this is high risk.
It's worth, at times waiting for the market to draw to you.
US 10Y Yields - 4.493% Is Up For Debating Bullish but taking a lot of cautions due to the current sentiment at the moment.
Low resistance liquidity run from 3.599% to 4.386% in a little over 7 weeks is a trend that could continue but as a trader who likes to see both sides of the story, it's; only a matter of time before the trend will reverse.
The real question is when??