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Candlestick Analysis

BTCUSDT - Above $65K or Below $50k...Out of all the markets that I analyse, Bitcoin is the MOST volatile with liquidity pools being ran on minute in and minute out! Looking at the weekly timeframe, it is evident that weekly buystops @ $65,000 did not manage to maintain the bullish nature of price action despite the huge psychological impact it is. There is still inefficiencies in the delivery of bitcoin to the upside from $60,625 - $62538.75 where last week we managed to wick down there. There could be the chance of a candle body closure inside of the region but for the time being, i will be sitting on my hands and awaiting more data
by LegendSince
GBPUSD - Old FVG Still Pays!Studying the consequent encroachment of the daily fair value gap is where you are able to identify whether there is a stronger likelihood for daily highs to be targeted. 5 consecutive days of bearish price action for cable and you think it wouldn't be healthy for a minor relief rally to occur up to 1.31424? Manipulation before distribution and right now, I feel that the accumulation has already taken place inside of the daily FVG with the manipulation next in line, first targeting the most immediate daily high which is 1.31341.
Short
by LegendSince
US T-Bonds - The 120.00 Region Looks Real Promising Similar to US10Y where we have seen 4 consecutive up close candles, with T-Bonds, we have witnessed 4 days worth of bearish price delivery with he volume imbalance on a higher timeframe (1W) consequent encroachment being met as support for the time being. Not shying away from a manipulative run, targeting 122.25 but would not be phased if we do not even make it to 122.08. Bias is bearish until 120.25 - 120.08 is booked. Back to the revaluation stages once I see a daily candle close above Monday's high.
CBOT:ZB1!Short
by LegendSince
Brent crude: Buying into the stormAny trade you take in oil right now is probably going to make you a quick win or loss . Oil has easily been the most volatile market this week - it's pretty obvious why 1) Hurricanes in the US disrupting supply 2) War in the Middle East For us, the trend is higher since breaking through $76 / bbl. And the latest fractal forming a higher low helped confirm this idea. This uptrend has not been properly established with 2 higher highs, which offers bigger possible upside but also a greater chance of never getting going. You can see the price is trapped between the 50 SMA and 200 SMA. We see a chance for a favourable 2:1 risk reward by trading the pullback from yesterday's bullish engulfing candlestick up to this week's high around 81.50. What do you think? Please share your ideas in a comment
OANDA:BCOUSDLong
by jasperlawler
EUR/USD SEll setup1-Hour Chart Analysis The 1-hour chart is consolidating within a tight range after the recent sell-off. A breakout from this range could signal the next major move for EUR/USD. The bearish trend is still in play, but a short-term retracement to test the upper range boundary is possible. Key Observations: Price is consolidating in a tight range between 1.09350 and 1.09548. There is potential for a breakout either to the upside (corrective move) or to the downside (continuation of the bearish trend). The next significant target for sellers could be around 1.08994 (marked as TP1 on the chart). Trade Opportunity: Traders can consider shorting the pair if price breaks below the current consolidation range, targeting 1.08994 for a take-profit level. Alternatively, a break above 1.09548 could lead to a quick corrective move, allowing for a short-term long trade.
Short
by FourtradesTV
Bullish rates reversal signals US dollar downside riskIf you want clues on directional risks for the US dollar, there are worse places to look than US 2-year Treasury note futures, shown in the left-hand pane of the chart. As one of the most liquid futures contracts globally, the price signals it provides can be very informative for broader markets, especially in the FX universe. Having tumbled most of October, implying higher US yields given the inverse relationship between the two, the price action this week looks potentially important. We saw the price take out long-running uptrend support on Wednesday before staging a dramatic bullish reversal on Thursday despite another hot US inflation report. The bounce off the 200-day moving average on the back of big volumes delivered not only a hammer candle but also took the price back above former uptrend support, delivering a bullish signal that suggests directional risks for yields may be skewing lower. You can see that in the right-hand pane with US 2-year bond yields hitting multi month highs on Thursday before reversing lower. But it’s the correlation analysis beneath the chart that I want you to focus on, looking at the strength of the relationship US 2-year yields have had with a variety of FX pairs over the past fortnight. USD/JPY has a score of 0.9 with USD/CNH not far behind at 0.89, signalling that where US 2-year yields have moved over the past two weeks, these pairs have almost always followed. EUR/USD, GBP/USD and AUD/USD have experienced similarly strong relationships over the same period with scores ranging from -0.88 to -0.96, the only difference being where yields have moved, they’ve usually done the opposite. The broader readthrough is that shorter-dated US yields have been driving US dollar direction recently, with rising rates fuelling dollar strength. But given the bullish signal from US 2-year Treasury note futures on Thursday, if we just saw the lows, it implies we may have seen the highs for US yields and the US dollar. Good luck! DS
Editors' picks
TVC:US02YEducation
by FOREXcom
HDFC Bank: Navigating Bearish Momentum Amid Key LevelsNSE:HDFCBANK : Navigating Bearish Momentum Amid Key Levels NSE:HDFCBANK : is currently facing bearish momentum, encountering significant downward pressure as it tests key support levels. As traders, it’s crucial to analyze the following resistance and support zones to gauge potential market movements: Resistance Levels: 1726 / 1716: These levels are pivotal resistance points. A failure to breach these zones may trigger sell-offs, reinforcing bearish sentiment in the stock. Support Levels: 1676 / 1636 / 1596: The stock is attempting to establish support near 1636. A break below this critical level could accelerate downward momentum, signaling further weakness and inviting additional selling pressure. Upcoming Catalysts: HDFC Bank will announce its Q2 earnings report on October 18. This upcoming event is likely to introduce volatility, potentially influencing price action significantly. Market Outlook: Despite efforts to maintain support at 1636, HDFC Bank's overall trend appears weak. Traders should closely monitor price action around these key levels to anticipate potential shifts in momentum. 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. If you found this analysis helpful, please consider sharing, following, or boosting this idea! Your support is greatly appreciated!
NSE:HDFCBANK
by Fight_Bulls_vs_Bear
3
BEL : Key Support & Resistance Levels at Current Price of 286.90NSE:BEL : Key Support & Resistance Levels at Current Price of 286.90 As NSE:BEL trades around 286.90, it shows signs of weakness, and it's essential to focus on the following support and resistance levels for potential trading strategies: Resistance Levels: Immediate Resistance: 295 – This level may act as a barrier for upward movement. Psychological Resistance: 300 – A significant psychological level that traders watch; a breakout above this could attract more buying interest. Key Resistance: 307 – A crucial level for confirming bullish momentum; a strong close above here may indicate a sustained upward trend. Support Levels: Crucial Support: 285 – This key level may provide buying interest. A break below this could lead to further downside. Stronger Support: 275 – Acts as backup support, offering a safety net for traders. Lower Support: 267 – If tested, it would indicate significant selling pressure, warranting close attention. Outlook: BEL appears to be weak at the moment. Holding below the 285 support could lead to further declines, potentially testing 275 and 267. A bounce back above 285 may provide a chance for a retest of 295, but caution is advised given the current weakness. 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. If you found this analysis helpful, please consider sharing, following, or boosting this idea! Your support is greatly appreciated!
NSE:BEL
by Fight_Bulls_vs_Bear
XAGUSD - When Is The Best Time To DCA?Utilising the most recent dealing range from the 6th Sep 2024 - 4th Oct 2024, we can establish where the equilibrium is located which means it is easier to differentiate premium prices from discount. Currently as it stands, Silver is trading at a premium and those looking to dollar cost average further into Silver should not be looking at anything above $30.32 as, although we could see a reversal before then, you would be incurring drawdown risk (heat as i like to call it) as there are higher time frame imbalances that has the opportunity to be filled, especially taking into factor the dollar index printing risk off conditions. Set your alert at $30.89, $30.36 & $29.71. If you want to play conservative, you could buy physicals or paper at these levels. Don't worry about further decline (especially if your a physical DCA investor) as Silver is the type of investment that you hang onto for years.
FX_IDC:XAGUSDShort
by LegendSince