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Candlestick Analysis

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!
Long
by MohammedFaysal
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
FOREXCOM:BTCUSDLong
by FOREXcom
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.
Long
by Jaytradermb
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 !
OLong
by IMRAN_96
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.
MYX:UEMSLong
by IMRAN_96
S&P 500 (ESZ2024) - Numerous Opportunities ScalpingVery efficiently delivered price during this week with little to no inefficiencies to the downside. This suggests a massive price to the downside if ES was to print bearish price action. $5,850 is the weekly lows is in the cards if we see a sharp retracement but due to the overall sentiment being bullish, it would be wise to anticipate longs up to $5,927.25 all-time highs but sitting back, awaiting for more data would be the best thing to do in this case. Studying Mondays price delivery will be key to detect whether the highs has been printed for the week.
CME_MINI:ESZ2024
by LegendSince
possible NZDCHF breakout looking from the 4 hour time frame we can see that the market has been in a state of consolidation retesting major level of resistance 0.52620 4 times, the current upside push is currently retesting previous level of resistance from a higher high, if you look at it on the 1hr or 30 min time frame the rejections on all these levels are very clear. Giving me the optimism of a continuous push to the upside, eventually break out of this consolidation phase
Long
by Fxphil_trade