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Candlestick Analysis

GBP/JPY Consolidation Tightens: Bulls Eyeing a Break Above 195.7After a strong correction and finding a bottom at 180 in early August, OANDA:GBPJPY began to recover, initially rising to the 193 zone. Another leg down followed, but this time, bulls regained control at the 183.90 level, forming a higher low supported by a double bottom pattern. The next upward move stalled at the 195 resistance, and the pair has since entered a consolidation phase. However, the recent consolidation range is tightening, and it appears that the price is gearing up for an upward breakout. I am slightly bullish on this pair, and a break with a daily close above the 195.70 resistance level would confirm this outlook, potentially leading to further gains toward the key 200 zone. In the short term, interim resistance around 198 could also serve as a target for bullish traders.
Long
by Mihai_Iacob
4
GBPUSD SHORTMarket structure Bearish on HTFs DW Entry at Daily and Weekly AOi Weekly rejection at AOi Previous Weekly Structure Point Daily Rejection at AOi Daily EMA retest Around Psychological Level 1.31000 Entry at the same area as previous week Level, I will react accordingly as the week progresses H4 Candlestick rejection Levels 6.45 Entry 90% REMEMBER : Trading is a Game Of Probability : Manage Your Risk : Be Patient : Every Moment Is Unique : Rinse, Wash, Repeat! : Christ is King
Short
by mobbie_zw
Gold's Reversal Signals: Why I'm Watching for a Drop Below 2700?Yesterday, I mentioned that a correction in OANDA:XAUUSD seemed imminent, even though we didn’t yet have confirmation at that moment, and I emphasized that buying no longer appeared attractive at these levels. Indeed, after reaching another all-time high of 2740 during the day, a strong sell-off followed, pushing the price down to the 2715 zone. Currently, the bulls are back in control, but in my view, this looks more like a natural rebound aligned with the broader trend, rather than a renewed surge in buying interest. The 2740 level now serves as significant resistance, and a fresh reversal from this zone could very well occur. For the bulls, the key support level lies in the 2725-2730 range. A drop below this zone would signal the beginning of a potential new downward move. From my perspective, I'm focused on selling opportunities. A break below 2700, with a move toward the 2685-2690 support range, is what I’m closely watching for.
OANDA:XAUUSDShort
by Mihai_Iacob
11
SADR LOGISTICS CO (4H Timeframe) Technical AnalysisSADR LOGISTICS CO (4H Timeframe) Technical Analysis Price Movements and Structure: SADR Logistics' price action shows clear zig-zag patterns, illustrating the ups and downs in the recent market movement. The price has made a series of higher highs and higher lows, suggesting an overall upward trend with minor corrections along the way. The price is currently trading around SAR 3.76 , having recently peaked at SAR 3.83 . The recent surge to SAR 3.83 shows a continuation of the uptrend, supported by significant buying volume. Key Levels to Watch: Support Levels: SAR 3.55 : This level acts as a recent minor support, observed after a slight pullback following the peak at SAR 3.83. If price revisits this level and holds, it could provide a strong foundation for further upside. SAR 3.21 - 3.26 : This zone has previously acted as a solid area of support, evidenced by significant rebounds, which indicate buying interest around these levels. Resistance Levels: SAR 3.83 : This is the immediate resistance level that the price has to overcome to maintain the bullish trajectory. SAR 3.77 and SAR 3.65 : These previous highs can also act as minor resistance if the price retreats, highlighting their relevance in the recent trend. Zig-Zag Indicator Analysis: The chart has a zig-zag indicator drawn, helping us visualize the turning points of the market. The zig-zag movements reflect the price’s natural ebb and flow, with notable pullbacks after reaching new highs. The recent upward zig-zag pattern from SAR 3.04 to SAR 3.83 indicates significant buying strength, implying that the market has some bullish sentiment still in place. Volume Analysis: Recent price increases have been supported by higher volume, particularly the rise to SAR 3.77 and SAR 3.83. This indicates strong interest from buyers. On pullbacks (e.g., at SAR 3.26 and SAR 3.21), the volume was also relatively high, suggesting buyers are stepping in to support the price. This could indicate accumulation in these zones. Possible Scenarios and Expectations: Bullish Scenario (Confirmation Required): If SADR Logistics manages to break above SAR 3.83 with strong bullish momentum and increasing volume, it may head towards the next psychological resistance around SAR 4.00 . A breakout above SAR 3.83 with confirmation (i.e., a retest that holds or a strong bullish candle with high volume) could indicate a continuation of the upward trend. Confirmation Signal: Look for a strong bullish candlestick formation and increased volume at or above SAR 3.83 to confirm the bullish breakout. If the retest of SAR 3.83 holds, it would further strengthen the potential for upward movement. Bearish Scenario (Risk Considerations): If the price fails to hold above SAR 3.76 and breaks below the SAR 3.55 support level, it could lead to a deeper correction towards SAR 3.26 - 3.21 . This level has previously provided support, but any break below it could weaken the overall bullish structure. Confirmation Signal: A close below SAR 3.55 with increasing bearish volume could signal a move towards SAR 3.21. Traders should watch for significant selling pressure and a lack of bullish response at support to confirm further downside potential. Technical Indicators and Risk Management: Trend Strength: With the price trading above previous resistance levels, the trend remains bullish for now. However, the presence of a double top or failure to make a new high above SAR 3.83 could signal a potential trend reversal. Risk Management: It is crucial to have well-defined risk parameters, such as setting a stop loss below key support levels (e.g., SAR 3.55 or SAR 3.21), to minimize exposure in case the market reverses against expectations. Summary: SADR Logistics is in an upward trend with notable higher highs and higher lows, but it is currently facing resistance at SAR 3.83 . Bullish Scenario: A breakout above SAR 3.83 with confirmation could signal a continuation to new highs, with SAR 4.00 as the next target. Bearish Scenario: A break below SAR 3.55 might see the price retrace towards the SAR 3.26 - 3.21 area, which could be a buying opportunity if support holds. Disclaimer: This analysis is for informational purposes only and should not be taken as financial advice. Always conduct your own research (DYOR) before making any trading decisions. This is not a buy or sell recommendation, and risk management should always be a priority when trading.
TADAWUL:1832
by hansonju
Very weak candle more pain may be in store for Nifty. Today we saw a confirmation of a pattern similar to head and shoulders pattern. The pattern is not exactly the classic head and shoulder but it is similar which can yield similar break down results meaning more pain might be in store if next 2 support levels are broken. The low of August 5 that is 24055 will be vital zone for Nifty to take support and make a comeback. There are 2 weak supports before we reach that level. These supports are near support previous to that at 24407 and 24113. If by chance 24055 is broken the next support is there near 23811 followed by 200 days EMA (Father line) at 23428. Below this level there is pure bear territory as this chart is drawn on daily candle sticks. On the upper side the resistances that Nifty will now face are at 24711 (Strong resistance along with a trend line resistance). If this resistance will be crossed the next resistance is at 24879. By chance we get a closing above this level Mid channel resistance and Mother line resistance of 50 days EMA awaits us near 24995 and 25231 respectively. The Macros of Israel Vs Iran++, US Elections and China stimulus are the major factors affecting FII outflow. Indian Growth story remains intact sectoral churning near the bottom is a real possibility. Overbought sectors of Defense and PSU in addition to some Mid and Small caps are taking most of the beating. At some point their PE will become attractive and at some point their dividend yield will also attract investors. whether that point has arrived or will arrive soon is yet to be known. There are no signals of bottom formation as of now and Shadow of the candle remains negative.
NSE:NIFTY
by Happy_Candles_Investment
1
Gold (XAUUSD) - Aiming For Low Hanging FruitsGold has been on a TEARRR for the beginning of October, making gains of up to 5% within the space of 1.5 weeks! When accumulating Gold, its best to purchase in a discount (in this case, Gold's discounted price is below $2,690*) but with this raging bull momentum rolling over all short sellers, it's challenging to expect this in the near future. Analysing short term plays, $2,740 - $2,750 are reasonable targets for longs to take their profits if already in a long. If waiting to enter, I would look out for a sweep below STL's
FX_IDC:XAUUSDLong
by LegendSince