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Consolidation

Hindustan Petroleum Corporation Limited (HPCL) Hindustan Petrol Corporation Limited (HPCL) looking great as per its structure. Base formation similar to Inverse Head & Shoulder. Also its major support from where it made a new high is likely to act as a major area of support.( Left hand side marked with blue arrow on charts) Will hold it till the levels of 300 if the trade goes in our favor. Stop loss below the previous swing low 233.50 maintaining strictly. Disclaimer: So many negative news out there for the oil & gas sector. Also the results of these companies has not been great at all. However, I personally do not follow news and results matters only if you are to invest for longer horizons. My analysis is solely based on price action and I have every right to be wrong. If my view turns to be wrong then I have no issues in taking the stop loss. Therefore, do your own analysis and have your own view with proper risk management.
NSE:HINDPETROLong
by mrphil001
Triangle Pattern Breakout in 1 WTF!>Good formation of the triangle pattern happened but the most important thing we need to watch for is good Volume build-up! > The 50-DMA should be broken with the good volumes is the only concern! >The 4 Supports Levels are significant because they respected the same levels of (335-354) every time. >There is also the formation of High-Tension Lines which is a good sign. >The Stop-Loss is the best part of this set-up(>5%) Let's Watch with patience!!!
NSE:KPILLong
by AxionAjay
EUR/USD still MANIPULATING traders!There seems to be no end to this sideways trend that EUR/USD has been forming for the last couple weeks. You could argue that some sort of SUPLY formed on the h1 and m30 timeframes, since plenty of volume came in to the market (news related), but still... the price failed to break significant structure and provide us with a new low... there fore, seeking sells in these market conditions is a bit risky for my taste. I'm staying away until we get a CLEAN break of this consodliation! *MANAGE YOUR RISK, TRADE SAFE!* Best regards, T.
by FerrariLover123
GBPJPY - ConsolidationHello traders, As you may have noticed, I haven't posted anything about GBPJPY for a long time as it is in a major consolidation. It may take a very long time but hopefully within a couple of weeks the price will decide to go somewhere, for now I'm trying to watch the SELL ZONE and BUY ZONE and in case of a touch I'm looking for a rebound opportunity on the lower TF. If the price goes below the BUY ZONE, I will then look for opportunities to sell, and if above the SELL ZONE, I will look for opportunities to buy in continuation up. IMPORTANT WARNING: --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Rebounds from marked zones created by trading positions of large institutions such as banks or various financial funds may not create new HH or LL and therefore it is very important to collect partial profits at least according to these rules. This will help you to keep your equity curve constantly growing and protect your funds from big drops if the price unexpectedly turns against you. But the decision is only in your hands. I personally prefer setting up multiple TPs , here's an explanation: 1) 1:1 allows you to take a 50% position and thus secure a balance against loss in case the market turns 2) 2-5 :1 means profit (25% trade volume ), after reaching this TP I move SL to BE 3) 5-10 :1 means bonus money with rest of trade volume (again 25%) Money is lying on the ground, just bend down for it! Be patient and wait for the price to reach a strong zone and open a position!
by TraderDominik
BIG Money Accumulating SHOP shares? Wyckoff Accumulation FormingOpposite the Wyckoff Distribution is the Wyckoff Accumulation. This is a sign of buying from big money. It shares many elements of the distribution and is broken into 5 phases. I will briefly outline them below... =================== Wyckoff Accum Phases Phase A: Phase A marks the stopping of the prior downtrend. Up to this point, supply has been dominant. We should see volume taper and spreads widen (price-volume divergence). Big money will scoop up shares to create the AR on increased volume. A trading range is created using SC and AR. Phase B: Is the actual accumulation phase. Prices are low and easy to grab. Expect the price to ping pong within the trading range as big money optimizes their average. Expect many stop hunts and false breakouts to free up shares. Phase C: It is in Phase C that the stock price goes through a decisive test of the remaining supply, allowing the “big money” operators to ascertain whether the stock is ready to be marked up. The shakeout is the optimal entry point but it does not always occur. Phase D: If we are correct in our analysis, what should follow is the consistent dominance of demand over supply. This is evidenced by a pattern of advances (SOSs) on widening price spreads and increasing volume, as well as reactions (LPSs) on smaller spreads and diminished volumes. During Phase D, the price will move at least to the top of the TR. LPSs in this phase are generally excellent places to initiate or add to profitable long positions. Phase E: In Phase E, the stock leaves the TR, demand is in full control and the markup is obvious to everyone. =================== I believe the following points are in line with the phases above: Decreasing volume and a widening spread before the start of the range. It is then followed by buying on increased volume. We have already seen Phase A. Phase B is the accumulation. Note the increases in volume on the up moves but decreases in volume on the down moves. I think Phase B is mostly over if it has not been completed already. Phase C will often have a shakeout. SHOP reported earnings and dumped to the lower end of the trading range. Although it did not break the range, I think this was the anticipated shakeout. We have since climbed higher on average volume and have now broken the upper range. It is reasonable to assume we are in or transitioning to phase D. It is important that we see some form of consolidation to confirm the upward move. If we do not, we could see more tests of supply and moves back into the trading range. We are currently above the 50 Dynamic Moving Average but below the 100 EMA. This shows that the medium-term trend is flipping bullish but the longer-term trend is still down. The vol osc is also showing increases in volume supporting the move upward. Higher time frames also indicate that this trading range formed at previous support. Overall, I think the stars are aligning to take this stock higher. Eager to hear your thoughts.
SLong
by Decam9
4
EUR/USD what's next?EUR/USD is overall in a bearish trend... this minor consolidation period has bullish potential, but we still have to be careful while looking for long positions. I marked an interesting SUPLY area, where plenty of short orders came in. I will wait for the price to print a cleaner picture before executing any positions. Like i said, i favour shorts over longs, but you never know what happens. If we see bullish price action, i might just shift my focus! Have a nice weekend guys, make sure to manage your trades before the market close today! *ALWAYS TRADE SAFE, NEVER OVER RISK!* Best regards, T.
Short
by FerrariLover123
4