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Candlestick Analysis

WTI USOUSD Short day tradingBearish Arguments VANTAGE:USOUSD Previous Month Low (PML) is holding strong. Previous Week Low (PWL) remains unbroken. Previous Day Low (PDL) is respected. Daily Bearish Fair Value Gap (FVG) is acting as resistance. Monthly Bearish FVG is also being respected. 4H Bearish FVG is holding. 4H Swing High is capping price action. 4H Swing Low is holding as a short-term support, but may break down soon. Trade Management Risk-Reward Ratio (RR): 2 Stop-Loss (SL): Placed near the 4H FVG to protect against upward moves. Take-Profit (TP): Targeting the swing low (SSL). Although price could extend lower, securing profits in this zone ensures gains in case of a rebound. Risk: 3%
VANTAGE:USOUSDShort
by Jaytradermb
MANYAVAR: Analyzing Potential Bullish Reversal, Festive DemandNSE:MANYAVAR : Analyzing Potential Bullish Reversal Amidst Festive Demand Surge Current Price: ₹1337 Date: 16 October 2024 In the dynamic landscape of the retail market, MANYAVAR is currently navigating a pivotal phase, with signs indicating a possible bullish turnaround. As the festive season unfolds, characterized by heightened consumer activity due to significant celebrations like Karwa Chauth and Diwali, this analysis provides a comprehensive outlook on key support and resistance levels that could influence trading strategies. Key Technical Levels: Support Levels: ₹1305: A significant psychological support level. A decisive move below this could trigger bearish sentiment and signal increased selling pressure. ₹1316: This level serves as a secondary support. Maintaining prices above this threshold is vital for sustaining bullish momentum. ₹1336: Currently serving as immediate support, this level is crucial for determining short-term price action and trader sentiment. Resistance Levels: ₹1346: The first major resistance level. A breakout above this price point could catalyze bullish sentiment and attract momentum traders. ₹1357: An additional resistance zone. Close monitoring of price reactions here will be essential to confirm a potential uptrend. ₹1376: Further up the chart, this level is critical for the validation of sustained bullish momentum. ₹1427, ₹1466, ₹1496: Long-term resistance levels that, if breached, could signify a strong bullish phase and draw in significant institutional interest. Breakout Zone: The pivotal breakout zone lies between ₹1346 and ₹1357. A robust close above ₹1357 may set off a chain reaction of buying activity, propelling the stock towards higher resistance levels and potentially unlocking significant upside. Market Sentiment and Context: The approach of the festive season presents a unique opportunity for retail stocks, particularly in the ethnic wear segment. With consumer spending historically surging during this period, demand for jewelry and traditional attire is expected to increase. This favorable market environment positions MANYAVAR well to capitalize on the seasonal uptick in consumer behavior. Strategic Outlook: Given the current price action and the backdrop of impending festive demand, traders should closely observe key support and resistance levels to refine entry and exit strategies. A careful assessment of price movements around these thresholds will be critical for identifying potential bullish opportunities. Conclusion: MANYAVAR stands at a crucial crossroads that may lead to a bullish reversal, particularly as market conditions favor increased retail activity during the festive season. By monitoring key technical levels and market sentiment, traders can position themselves effectively to leverage potential price movements. Disclaimer: I am not a SEBI Registered Research Analyst (RA). This analysis is for educational purposes only and should not be considered as investment advice. Please conduct your own research or consult a financial advisor before making any trading decisions.
NSE:MANYAVARLong
by Fight_Bulls_vs_Bear
USD/CAD generates sell signal after massive winning streak The USD/CAD epic winning streak is over, delivering an obvious topping signal on Tuesday. There’s a couple of options available to traders: the first would be to sell now with a stop either above 1.3792 or Monday’s high of 1.3806. Possible targets include 1.3700 or 1.3647, depending on the risk-reward ratio you’re looking for. The other would be to wait for a potential push towards 1.3792, allowing for a stop to be placed above Monday’s high or 1.3839 for protection. Targets would be identical to option one. Momentum indicators have yet to confirm the price signal, but may encourage more traders to join the move if they too are triggered. With no major data set for release in the US or Canada or Wednesday, traders may begin looking towards the US jobless claims, retail sales and industrial production reports on Thursday. As I’ve discussed in the note attached, it would not surprise to see another ugly jobless claims report given disruptions caused by Hurricane Helene and Milton on the US Gulf states, creating downside risks for US bond yields and dollar. Good luck! DS
Short
by FOREXcom
Traders could veer towards the yen with risk events loomingIt is no coincidence that VIX futures have been creeping higher in recent weeks despite Wall Street hitting record highs, as traders are presumably hedging downside risk as we approach the US election. And that means it may not take much to spook traders out of bullish bets with markets at frothy levels, and that could see the yen strengthen as a safety play. Matt Simpson takes a technical look at yen pairs of interest.
Editors' picks
Short
by CityIndex
5
Euraud long trade ideaHello everyone, I've identified a fresh Demand zone in the EUR/AUD pair, and the location is quite appealing. As always, it's essential to apply proper money management and never trade without placing an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be measured over a series of trades, not just one. . . . Guys always read this quote.It will help you mentally."I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, 'I just lost my money, now I have to do something to make it back.' No, you don't. You should sit there until you find something.” “Jim Rogers: Thanks!
Long
by MohammedFaysal
Nasdaq 100 Trade idea/Second Trade"Hello, everyone! This is my second trade on Nasdaq. I've adjusted the stop loss on my first trade and now I'm placing an order for another trade, risking half an 'R'. Good luck!" As always, it's essential to apply proper money management and never trade without placing an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be measured over a series of trades, not just one. Guys always read this quote.It will help you mentally."I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, 'I just lost my money, now I have to do something to make it back.' No, you don't. You should sit there until you find something.” “Jim Rogers: Thanks!
OANDA:NAS100USDShort
by MohammedFaysal
Usdcad short trade ideaHello everyone, I've identified a fresh supply zone in the USD/CAD pair, and the location is quite appealing. As always, it's essential to apply proper money management and never trade without placing an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be measured over a series of trades, not just one. Guys always read this quote.It will help you mentally."I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, 'I just lost my money, now I have to do something to make it back.' No, you don't. You should sit there until you find something.” “Jim Rogers: Thanks!
Short
by MohammedFaysal
Reliance breaks the trend line and mid channel support. Reliance breaks the trend line and mid channel support after below par support. Only saving grace can be that it is entering the oversold zone and another major support territory. The major support territory for Reliance is 2561 and 2657. We can expect a reversal from this zone. The stock can be added post bounce and further compounded after it crosses the mother and father line. After bottom formation takes place. Which has not taken place as of now. The stock can be bought/added/averaged in X/4 quantity. Remaining 3 X/4 entries will be above Mother line 50 days EMA, above Father line that is 200 days EMA and finally after closing above 3007. As it is a long term investment Idea and Portfolio stock, Part of my personal portfolio too I would rather not keep a stop loss here. If a trader and investor wants to keep a stop loss he / she can do it after monthly closing below 2250 zone. One or 2 quarters poor / below market expectation result should not deter an investor in holding on to GEMs. Jio Platforms Q2 profit rises 23.4% to Rs 6,539 crore; ARPU for JIO is at Rs 195.1. Green Energy Segment may start performing for Reliance from 2025. Long term outlook for the stock still remains positive. 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. I an my clients have long positions in this stock. 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.
NSE:RELIANCE
by Happy_Candles_Investment