Mother Line Stopping moves to Nifty to go ahead.As you can see clearly from the chart with daily candles that mother line of 50 days EMA is stopping Nifty from progressing ahead. Nifty since October 7 is unable to close substantially above the mother line. This is the power of Mother line resistance. Trend lines are merging and Squeezing the Nifty with very less space left for it to maneuver. Nifty is at exact crossroads with possibility of Breakout or Breakdown at time later during this week.
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. The Happy Candles Way to Wealth Creation is a book currently rated highest in the category of financial analysis and strategy on Amazon.
Supports For Nifty are at: 24685, 24565, 24065 and Father line support of 200 day's EMA at 23417. (Below 23417 in unlikely situation of some major global escalation Bears will take total control of the market).
Resistances for Nifty: 24858, 25017 (Mother line Resistance of 50 day's EMA), 25321, 25469 and 25634. Above 25634 bulls can come back to action.
Disclaimer: There is a chance of biases including confirmation bias, information bias, halo effect and anchoring bias in this write-up. Investment in stocks, derivatives and mutual funds is subject to market risk please consult your investment advisor before taking financial decisions. The data, chart or any other information provided above is for the purpose of analysis and is purely educational in nature. They are not recommendations of any kind. We will not be responsible for Profit or loss due to descision taken based on this article. The names of the stocks or index levels mentioned if any in the article are for the purpose of education and analysis only. Purpose of this article is educational. Please do not consider this as a recommendation of any sorts.
Candlestick Analysis
S&P Bulls Hold Strong, But Is a Market Cooldown Coming?Last week wasn't particularly remarkable. Despite two bearish attacks (on Tuesday and Thursday), buyers still managed to push the market to a new historical high. It was somewhat concerning that they couldn’t sustain the high for even an hour after the open, but since the bearish movement didn’t gain momentum on Friday, the bulls still have the upper hand. We may see some consolidation in the upcoming weeks, as there are signs that the rally is approaching exhaustion (weakening of upthrust, weekly RSI entering the overbought zone, weakness in XLK). However, this market has repeatedly demonstrated its resilience and ability to exceed expectations.
The long-term outlook remains bullish, but given these signals, it would be prudent for buyers to downsize their positions and refrain from selling PUTs.
Mind TSLA report on Wednesday as it can cause some volatility and act as a trigger.
AUDUSD SHORTI think the AUDSUSD is going to do to the down side as well based on the same bar and trend analysis. I might be wrong but this is the feeling at get from the sentiment with this analysis.
Image below is of the daily chart
Image below is of the 5hr chart
The indicator im using has both heikin ashi smoothing a regular bar analysis.
AUDCHF SHORTI think the AUDCHF is going to go to the downside, based on the bearishness of the weekly candle. I could be wrong but this is the feeling of the sentiment i get from looking at the daily and weekly bar and trend diretion.
Image below is the chart of the daily,
Image below is the chart of 5 hour
EURCHF: Classic Day Trade From Trend Line 🇪🇺🇨🇭
EURCHF may drop from after a test of a falling trend line on a 4H.
Testing that, the price started to consolidate within a narrow range.
Last candle clearly reflects a local strong bearish momentum.
The pair may continue falling at least to 0.973 support.
❤️Please, support my work with like, thank you!❤️
Gbpusd new demand zoneHello everyone, I've identified a fresh demand zone in the GBP/USD pair, and the location looks quite promising. You can approach this trade in two ways: either set a buy limit at the weekly demand zone or use price action to enter on lower timeframes. Personally, I use both strategies.
As always, it's essential to apply proper money management and never trade without setting an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be evaluated over a series of trades, not just one.
Thanks!
Bitcoin’s bullish break opens door for run to record highsBitcoin’s break of downtrend resistance has opened the door for a run towards the record highs set in March, especially with the price action today suggesting the break will stick.
Even though RSI (14) is nearing overbought territory, both it and MACD continue to offer bullish signals on momentum. One look at historic price patterns also tells you overbought conditions are no impediment for further gains in the near-term.
Rather than buy around these levels, I’m waiting for a potential pullback/retest of the former downtrend before establishing longs, allowing for a tight stop to be placed below for protection.
$70000 would be the initial trade target with $71931.60 and record high the next after that.
Good luck!
DS
Italy 40: Trend Breakout34,820~ was a major level for the Italy 40 index. This level held since June 2024 and I saw price breach above it just near the end of last week.
As I look for the trading session ahead, further upside potential is expected provided that price is able to remain supported above this level.
ADR: 40
SL: 40
TP: 80
Next bullish impulse aheadBuy stop order placed. On the last trading day the downward correction could be finished with the creation of this hammer candle. If the price breaks the Thursday's daily high we can expect the next bullish impulse to take place. This should last as well for a couple of days.
Meanwhile, all the moving averages are still bullishly aligned, indicating that the price could be ready for another move.
CHAINLINK SWING TRADINGSwing trading
BINANCE:LINKUSDT
Seeing that the structure has been respected, I decide to open a position now. These are my arguments:
Bullish arugments:
Monthly PCL being disrespected
Weekly PCL being disrespected
Daily swing low being disrespected
4H swing low being disrespected
So far I see no bearish arguments.
Trade management:
SL at $9.94 which that would indicate strong rejection and would power a search for liquidity at the lower end of the range. However, there does not seem to be so much weakness to look for a lower low than the September low.
TP, partials could be obtained. A partial TP would be on liquidity on the buy side at $13.90 and let profits run to ITH with SL on BE once the 1TP profit is taken.
Silver (XAGUSD) - Has The Bull Run To $50 Begun? 10%* appreciation if you were buying Silver in a discount below $30.32 which is something to be proud of.
Silver should be seen as a long term hedge against inflation. There will always be a need for silver and as long as the money printer goes Brrrrrrrr, price will slowly trickle to the upside overtime.
Quarter time chart dax weekly time frameDax hit the XAMD model in the annual quarter, so it is in the distribution cycle. I expect a downward correction to FVG or BPR and the start of the movement, so I expect the rise of Dax in the last three months of the year, as a result of active Euro sellers. and we have a decline
ORGABIO - Proposed Bonus Issue (Free Warrants)ORGABIO - Current price RM0.375
An analysis on price action without using any indicator.
On 21 May 2024 the stock made a significant Rising Window (Breakaway Gap) and closed at RM0.405. From there, the share price made a rally until 11 July 2024, hit an intraday high at RM0.520 (surge 28% from RM0.405) and closed at RM0.475 - lower than previous session closing price. Based on JAPANESE CANDLESTICK CHARTING TECHNIQUE , it made a BEARISH ENGULFING pattern which indicates potentially a decline is coming. As expected, from that BEARISH ENGULFING pattern, price falls until 12 Sept 2024, an intraday low at RM0.325 (strong support level of RISING WINDOW zone) and bounced back higher to closed at RM0.335. As such, the support level made on 21 May 2024 is still intact. At this point, traders may view this as an opportunity to buy on support.
On 02 Oct 2024, the company made an announcement to proposed BONUS ISSUE of up to 61,967,000 FREE WARRANTS in ORGABIO ("WARRANT(S)") on the basis of 1 WARRANT for every 4 existing ordinary shares in ORGABIO held on an entitlement date to be determined and announced later.
After that announcement, on 03 Oct 2024 the stock made a small rising window and closed higher at RM0.360. Then for 4 days the stock test the resistance RM0.360 and finally made a breakout to closed higher at RM0.370 on 17 Oct 2024. This price action added more the BULLISH scenario for this stock.
In my view, the stock may extend its uptrend as supported by :
i) SUPPORT LEVEL OF RISING WINDOW 21 MAY 2024 STILL INTACT - RM0.325
ii) GOOD NEWS OF BONUS ISSUE (FREE WARRANT)
Lets monitor closely !
US CRUDE OIL (WTI): Bearish Outlook ExplainedThe USOIL price dropped below a strong horizontal support level last week and closed below it.
After breaking this support, upon retesting the broken structure, the market started to consolidate.
A bearish breakout of the consolidation range's support area confirms a strong bearish trend, increasing the likelihood of a continued decline.
The target price is set at 67.20.
UEMS (5148) - PropertyUEMS - Current price : RM1.08
Fundamentally broker house RHB Investment BHD give a target price of RM1.60 (19 OCT 2024 reports). The research house expect demand for property will continue to be driven by :
i) Better economic growth outlook,
ii) Influx of foreign and domestic direct investments
iii) Return of tourist arrivals
iv) Easing of the Malaysia Second Home programme
v) Major instructure developments
Technically there is a Falling Window (Gap Down) on 01 Aug 2024. As such, it may acts as a strong resistance. A breakout above that Falling Window resistance level RM1.10, may propel the share price towards RM1.20 and RM1.28 (52 Weeks High).
Based on ICHIMOKU, price manage to trend higher above CLOUD and CHIKOU LINE crosses up the cloud. This two scenario added more the BULLISHNESS outlook for the stock.
Lets monitor closely !
A breakout above RM1.10 , will trigger a buy signal.
Entry price at RM1.11 and our support will be EMA 50.
BTCUSDBTC is not telling us a market reversal at the moment. Let's see if on Sunday it reacts for a continuation of the rise or a bearish return.
The bollinger bands don't show us anything interesting for the moment, we see higher and higher highs for the moment and internally lows that are building.