Demand Zone
NIFTY 50 for tomorrow - 8TH NOVEMBER 2022Nifty opened with a huge gap today @ 18215( vs. yesterday's close @ 18127).
The index saw a sell-off in the first hour of the trading, followed by weakness in the next following hours as well, and made a low of 18064.
Though it recovered post 1.30 p.m and was able to close near the day's High.
Today's candle: Long legged Spinning candles
Candle Interpretation: Long-legged candle at highs, suggesting increased volatility and increased risk of buyers trapping at highs.
Since all the time frames still look good and the price is also positive, one can still hold their long position but with strict stop loss, and it's better to play light in the current market price scenario.
IMMEDIATE SUPPORT: 18160 - 18166
IMMEDIATE RESISTANCE: 18200-18240
Brent could trade higher only if...Energy prices climbed on Friday as Brent reached the 92.60 price level and WTI climbed a high of 98.75. This move higher was due to the weakness of the DXY and the anticipation that China was ready to reopen borders, spurring demand for oil.
However, as China reiterates its intention to maintain its current Covid policy, both Brent and WTI are retracing lower from last week’s climb higher. Look for the completion of the retracement before a continuation of the uptrend.
The prices could test the key resistance level of 97.00 for WTI and 102.00 for Brent, if prices clear above the immediate resistance of 94.00 and 100 respectively.
BTC/USDT Buy at 21253Price pulled back to an important demand zone and then showed strong buying pressure.
Entry:
SL:
TP:
Will keep you guys updated on the progress
EURUSD-Weekly Market Analysis-Nov22,Wk2Regarding the overall trading setup, I'm waiting for a Buying opportunity on the EURUSD. EURUSD is on a sideway bounce setup, so I can wait for a buying at the blue solid line(0.9739) and shorting at the red solid line at(1.0082) for a trading opportunity.
Aggressive traders can wait for buying opportunities within the Demand Zone /Blue Box at 0.9843.
S&P 500 E-mini FuturesSupply and Demand
Supply and Demand is one of the core strategies used in trading. It focuses on the ancient laws of supply and demand and how price moves in a free-flowing market. The foundation of this strategy is that the amount of an instrument that is available and the desire of buyers for it, drive the price. It identifies zones on the chart where demand overwhelms supply (the demand zone ), driving the price up, or where supply overwhelms demand (the supply zone ), driving the price down. Most supply and demand traders wait for the price to enter these zones, where major buying or selling activities have taken place, before entering a long or short position themselves.
I MOSTLY DO DAY TRADE BASED ON THESE ZONES. THE TIME FRAME I PREFER IS 2 MIN AND 5MIN TO TRADE THESE ZONES.
GBPNZD I LONG from 1 hr. DemandWelcome back! Let me know your thoughts in the comments!
**GBPNZD - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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AUDCAD - Buy ZoneA retest on 0.8709 could allow me to engage this trade that has already show a RSI Divergence on the setup. Patience is the key for setup like this.
Audcad long Am entering this high probability confluence setup......
A confluence of a demand zone, a trend line and a fib level has occurred on the 4hourly chart.....am going in for a quick 6.6R......Like and Subscribe .....maintain strict Risk and Money management and Let's ROLL.....
Peace!.
ATOM - Tagged Demand, now what?I shared this chart weeks ago and expected a tag in yellow if we broke down.
it broke down, tagged yellow and now pushing to the upside.
IF we get some strength in the market, this chart does not look too bad.
Targets above if we get a push, for obvious reasons yellow must hold now.
Cheers
USDJPY is still a strong Bull!With all the BOJ intervention, USDJPY still stands strong; by the end of this week, at max next week, it will be back at the previous level.
So, counter-trend traders, if you are looking for an aggressive kind of trend reversal trade; think twice before you act.
USD/CADBeautifull PA on UC is printed last friday We have liquidity sweep in last 4H low. Then we seen push up. Curently we siting at M15 strong high. My expectation is that price can go little bit highter and then slowly selling down for that demand that I drow. If we get nice confirmation in this area we can get nice trade of that. All demand behind are filled. Exapte one IC candle with i drow another demand (that lower and tighter). I recommended watching PA in that demand and trying to find long entry.
NZD USD LONG TRADE hello traders
In today's session, I am buying the NZD/USD because we have a break in the sellers wall and the sellers reaction after the break is corrective and the price reached a support level that is concentrated under the buying forces
USDCHF - Head and shoulder patternUSDCHF has presented a head and shoulder pattern after the break of the neck line. Price is pulling back for a possible retest and continuation to the downside
S&P 500 E-mini FuturesSupply and Demand
Supply and Demand is one of the core strategies used in trading. It focuses on the ancient laws of supply and demand and how price moves in a free-flowing market. The foundation of this strategy is that the amount of an instrument that is available and the desire of buyers for it, drive the price. It identifies zones on the chart where demand overwhelms supply (the demand zone ), driving the price up, or where supply overwhelms demand (the supply zone ), driving the price down. Most supply and demand traders wait for the price to enter these zones, where major buying or selling activities have taken place, before entering a long or short position themselves.
I MOSTLY DO DAY TRADE BASED ON THESE ZONES. THE TIME FRAME I PREFER IS 2 MIN AND 5MIN TO TRADE THESE ZONES.
AUDCAD potential setupAudCad potential setup to watch out on 4h chart. Expecting a potential bounce on a demand zone or if shoot through a potential break and retest .
XAUUSD LONG hello traders
Buyers are still strong and sellers reaction is correct, so it is expected that the price will retest the demand level and we will get an upward wave that may reach the 1676 area.
USDCAD - Bullish BatA Bullish Bat Trading opportunity present itself on USDCAD, as this is a 4-hourly chart, the earliest I would decide would be 5pm(GMT+8) but I believe most likely it will be 9pm.
EURNZD 1hr Demand zonesI like finding demand zones within larger timeframe patterns like candlesticks. These are found within a daily bullish engulfing pattern.
EURUSD SELL SELL A LITTLE HIGHER.Good day to all dear colleagues, I am new to sharing my trading ideas so I hope you support me with your likes and comments, be happy to answer them.
I have been waiting for a new bearish impulse for this pair, however, the eurusd has turned rebellious. I'm waiting a little higher to sell again.
USDCAD LONG TRADE hello traders
We have an important buying area that you can rely on to take short-term buying trade
AUDNZD...4H bullish view..Clear daily/4H demand zone is facing that pair for potential pullback and nice R/R ratio long trade after bouncing off the zone with rejection candle...waiting for confirmation for short term bullish pullback up to fibo 0.23/0.38 level..be safe..
