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EMAS

NASDAQ - 1D - The 3 converging signals. This tutorial looks at the Daily chart main technology index in the World, NASDAQ. When evaluating its prices, NASDAQ has been down-trending in the past 8 months, in a steep decline. It started from its All-Time-High (ATH), when it held the 16700s level on the 21st of November 2021, sinking over 34% towards the 11300 level on the 16th of June 2022. However, since its recent low, the NASDAQ kept increasing in price. In the last trading week (8th - 12th of August 2022), prices formed an interesting technical pattern that could give way to a prolonged upward movement. Today, a new candlestick formed, sitting right on the 200 EMA line. I have highlighted 3 significant patterns which are converging. These patterns increase the probability of such upward movement, leading me to believe in a potential bullish movement: 1- Downtrend Breakout 2- Gap Up or Rising Window 3- 200 EMA (Exponential Moving Average) Breakout To understand the technical patterns I am discussing, it is necessary to identify two indicators within the chart. These indicators are the 200 EMA (Exponential Moving Average), which is the red line following the price, and the Downtrend Line, which is the purple line connected to the recent highs. I have drawn a red circle to point out where the signals converged.  1- The Downtrend was acting as resistance for over 7 months, from December 2021 until the 10th of August. From then, the Downtrend line will act as a support for the potential upcoming upward movement. 2- The Gap Up in price happened between the market close on the 9th of August to the market open on the10th of August. It brought the price up on a powerful movement, ignoring the downtrend resistance line and sitting on top of it, transforming it into a support line. 3- Major investors and hedge funds use the 200 EMA as a bullish/bearish indicator and a strong resistance/support level. The last candlestick (12th of August) closed above the 200EMA line, which did not happen for over 4 months. To conclude, the convergence of the 200 EMA plus the down-trend breakouts along with the rising window form an interesting signal that suggests the downtrend might run out of steam. Happy Investrading!
NASDAQ:NDX
by dmelchiades
Triangle Pattern Breakout in 1 DTF//IGL>The good triangle pattern with strong break-out can be seen in the following chart. >The pattern took 4 supports at the bottom and % resistances at the top! >Todays close is strong both 1 DTF & 1 WTF. >In day chart there is a strong support from the 20&50 Day EMA's. >In weekly chart it has just crossed the 20 Day EMA and heading towards 50 EMA. >Stop-Loss is fine under the green bullish candle and wait for the Volume's built-up and take the positions accordingly.
NSE:IGLLong
by AxionAjay
6
GOLD Bull, begin?hi, though i booked some good profits on last sell, i might change my view on gold to be bullish at short term. for bear scenario, this impulse and correction will act as A & B wave, then we will see one more high for C wave then one last push to the bottom. for bull, this could be wave 1 & 2 and the beginning for bull long journey for new ATH. everything can happen here, but not until end of wave C then we can decide further. For now, I trade what I see. Trade well. Alex
FX:XAUUSD
by oalalexlex
1
USOIL - Bearish analysis part 2Not much of an additional analysis here, rather more of an update. Take a look at my previous post to get an idea of the EMA rule I use so that this makes a bit more sense. As I mentioned in the last post, we fell through the 21EMA (red one) and failed to get back above it, which generally means we're headed to the 55 EMA (yellow one). Well, that pretty much just happened, so now we have to wait and see if it holds. If the price falls through and close beneath the 55, chances are it'll run up and retest it, possibly wicking the 34 or 21 EMAs (orange & red) before getting b**** slapped into downward oblivion. Where is oblivion, I hear you ask? That be the Sasha Grey EMA. Or the 200 EMA if you have more of a thing for numbers. No judgement here. That being said, we do have support levels that could be cushy enough for a bounce. That is where I'd expect one to happen if it does fall. However, if it doesn't fall, our next target would be the 21 EMA for a candle body close with the 55 EMA possibly receiving a good wicking. Another fun thing to keep in mind before I end this - the closer the EMAs are together, the harder it is for price action to rise through them. Think of them like brick walls. If the walls are all back to back, they form one thick wall that would need a huge amount of force to break through. If they're spaced apart however, you'd need a much smaller amount of force to break through one by one, making it easier to get through them. When you see them really spaced apart, have a look at your other indicators such as RSI for bullish/bearish divergences and volume. Chances are that when you get the divergence, the spacing of the EMAs could give you a great idea of how big a move there is to come. If the volume significantly tapers off, it's highly likely the move will be explosive. Hope this was useful - stay safe!
TVC:USOIL
by Shifty-Ifrit
Consolidated Support & Resistance 1 WTF//TTK Prestige*It is a consolidated Support and Resistance as you all can see! *Also marked the previous move of the Trend by forming the almost Identical Flag-Pattern. *Broke both the 20 & 50 EMA's with a good bullish momentum, that made our stop-loss clear! *i.e., the ideal S-L would be around the previous week Green Candle. *Let the trend take a little retrace, then take the position after your own Analysis and Due Diligence *The trend is bullish as of now but the momentum purely depends upon the next week's opening and close.
NSE:TTKPRESTIGLong
by AxionAjay