BHEL Bears Dominate – TP1 Hit, More Downside Expected!Technical Analysis: BHEL (Bharat Heavy Electricals Ltd) – 1D Timeframe (Short Trade)
We initiated a short trade on BHEL at 288.71 on 2nd September 2024, using the daily timeframe. The first target (TP1) at 259.89 has already been hit, and we are now looking ahead for further bearish momentum.
Key Levels
Entry: 288.71 – The trade was initiated following bearish signals and strong confirmation for a downward move.
Stop-Loss (SL): 312.03 – Positioned above the entry to manage risk and protect against reversals.
Take Profit 1 (TP1): 259.89 – Already hit, confirming the success of the initial short move.
Take Profit 2 (TP2): 213.25 – The next short target to be tested as bearish momentum builds.
Take Profit 3 (TP3): 166.62 – If selling pressure continues, this level could be achieved next.
Take Profit 4 (TP4): 137.79 – The ultimate target for this short trade setup.
Trend Analysis
BHEL is showing strong bearish signals, with price clearly below the Risological Dotted Trendline, confirming the downtrend. With TP1 already done, we expect the continuation of the bearish move towards TP2 and beyond.
BHEL has already reached its first profit target, demonstrating the strength of the bearish trend. The remaining targets are now in focus as we anticipate further downward movement in the coming days.
Morning Star
BOJ capitulates spectacularly Shinichi Uchida, Deputy Governor of the Bank of Japan (BOJ), says the bank won’t hike interest rates when markets are unstable, delivering a clear message on what traders need to do to prevent them doing so again: create volatility.
It’s an amazing statement, signalling the BOJ can and will be bullied by markets to avoid doing what is right for the Japanese economy. It’s an incredibly dovish admission, giving traders the green light to re-establish carry trades until the BOJ starts making noise about hiking rates again, or we see a major global economic downturn.
The Yen is tumbling understandably.
Adding to the dovish surprise, Uchida said the BOJ must maintain the degree of monetary easing for now and suggested the BOJ would not be behind the curve if it didn’t usher through rate hikes “at pace”.
It’s a capitulation of the grandest scale, undoubtedly orchestrated to restore calm to financial markets. It was only just over a week ago the BPOJ hiked more than expected and provided a hawkish outlook on the monetary policy outlook.
USD/JPY surges as carry trades established
USD/JPY has surged back above resistance at 146.50 on Uchida’s remarks, putting a potential retest of the January 2023 uptrend in play. The formation is also yet to be completed, but the three-candle pattern looks like a morning star, adding to confidence that we may have seen the cyclical bottom.
Should the price manage to remain above 146.50, consider buying with a stop below the level for protection. The intersection of the former uptrend and horizontal resistance at 148.80 is one potential trade target. Should that go, 149.70, 150.90 and 151.95 are the next upside levels of note.
The downtrend in RSI (14) has been broken, signalling downside momentum may be ebbing. It has yet to be confirmed by MACD but looks trustworthy given the speed of the rebound.
It’s not just bottoming patterns being seen in USD/JPY but also other pairs such as EUR/JPY and GBP/JPY.
-- Written by David Scutt
SWING IDEA - FINOLEX CABLESA potential swing trade in Finolex cables , a prominent figure in the cable manufacturing sector.
Reasons are listed below :
The stock bounced convincingly from the strong support level of 850, indicating solid buying interest at this price point.
A hammer candlestick on the weekly timeframe signals a potential reversal, suggesting a shift from bearish sentiment to bullish momentum.
The appearance of a morning star pattern on the daily chart adds further confirmation to the bullish bias, signaling a possible trend reversal from bearish to bullish.
The stock finds support at the 0.382 Fibonacci level, reinforcing the bullish outlook. Volume Surge: Witness a notable increase in trading volumes, reflecting growing market interest and potential accumulation by investors.
FinCables has been consistently making higher highs on larger timeframes, indicating a trend of increasing bullish momentum and reinforcing the potential for upward movement.
Target - 1020 // 1150 // 1210
Stoploss - weekly close below 805
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@visionary.growth.insights
East Pipes: Trendline support; morning star (Bullish Setup)Price is moving in uptrend and recently take a correction
Price started forming HH, HL again after taking support from golden pocket
Trendline resistance breakout and retest is observed
Morning star formation at Trendline support confluence a bullish potential
Take entry with SL below 140 (aggressive), 131 (conservative)
Trail SL and enjoy the ride
PVR MORNING STAR !Very Good Setup seen in Weekly charts.
Low Risk High Reward.
Target 1600 , 1800 ...
Do Like ,Comment , Follow for regular Updates...
Disclaimer : This is not a Buy or Sell recommendation. I am not SEBI Registered. Please consult your financial advisor before making any investments . This is for Educational purpose only.
#RVN/USDT 1W (Binance Futures) Descending wedge on supportRavencoin just printed a morning star on weekly TF, looks promising for mid/long-term recovery towards 50MA resistance.
⚡️⚡️ #RVN/USDT ⚡️⚡️
Exchanges: Binance Futures
Signal Type: Regular (Long)
Leverage: Isolated (1x)
Amount: 10.1%
Current Price:
0.01924
Entry Targets:
1) 0.01703
Take-Profit Targets:
1) 0.02713
Stop Targets:
1) 0.01198
Published By: @Zblaba
NGM:RVN #RVNUSDT #Ravencoin #PoW #P2P
Risk/Reward= 1:2
Expected Profit= +59.3%
Possible Loss= -29.7%
ravencoin.org
#KMD/BTC 1D (Binance) Descending wedge breakout and retestKomodo bounced back on 50MA support printed two morning stars in a row, seems to be ready for another leg-up.
⚡️⚡️ #KMD/BTC ⚡️⚡️
Exchanges: Binance
Signal Type: Regular (Long)
Amount: 6.2%
Current Price:
0.00000835
Entry Targets:
1) 0.00000831
Take-Profit Targets:
1) 0.00001097
Stop Targets:
1) 0.00000698
Published By: @Zblaba
ASX:KMD BINANCE:KMDBTC #Komodo #PoW komodoplatform.com
Risk/Reward= 1:2
Expected Profit= +32%
Possible Loss= -16%
Estimated Gaintime= 3-6 weeks
FOR - breaking up soon?FOR was in a strong trend from June (pt A) till its peak on 7 Aug (pt B). It then went into 50% fib retracement over the next 2 months, hitting a possible final low on 6 Oct. A couple of bullish divergences between its price and RSI were also seen just prior to hitting this low.
What followed next was a bullish morning star pattern. Went long @ 26.35 on 10 Oct the day after this pattern was formed with initial stop loss slightly below the morning star's low @ 25.35.
Despite its long correction, the stock is still very much above its 200 day moving average.
Expecting that it will break out of it's downward trendline resistence soon.
Whether it could rise back towards its Aug's peak of 31.43 eventually remains to be seen. Will trail protective stops upwards from time to time.
Disclaimer:
Swing Trader here. This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie trailing stop loss and position sizing) is (probably the most) important! Take care and Good Luck!
BluetonaFX - EURUSD Morning Star Opportunity Hi Traders!
We have a morning star opportunity here on the EURUSD 1D chart. After the impulsive wave to the downside, the market has now found support around the 1.08336 level, and a morning star candle pattern has formed, confirming to us a potential pullback or reversal of the bearish trend.
We are now looking for a retracement wave upward; we have our first target at 1.10011 and a second target at 1.10566. This is a good risk-reward opportunity, as we are trading near a strong support level. That being said, we must exercise a bit of caution as we are still under our 20 EMA. Ideally, we are looking for a push to get back above the EMA, which will give us additional confirmation of a potential pullback or reversal.
Please remember to like, follow, and comment, as your support greatly helps.
Your support is greatly appreciated.
BluetonaFX
INDIGO BREAKOUT TRADING IDEAAs we can see after a 4-month breakout with a bullish candlestick pattern
RSI 64.26 towards an upward direction
HV 26
let's retrace as per shown on the chart whereas, on 15 min chart, you'll see a shooting star and an evening star which indicates slide retracement
so plan accordingly.
enty and exit levels
2080
sl 2020 to 2000 (2.80%)
taget 2230 (8%)
RR 2.70%
educational purpose only!
Intuitive Mode!King W. Harbmayg's Journal Entry #30
Lesser Position: 1:5 R
Scheme 1— Bias via 1D
a. prior day printed long candle,
b. and so my bias is long
Scheme 2— Trade Setup via 15M
a. price is not in discount range,
b. demand zone is triggered
Scheme 3— Execute via 1M
a. market structure favors bias,
b. execute during entry window,
c. stop at the low of structure
Lesser Long PositionKing W. Harbmayg's Journal Entry #29
Lesser Position
1. Pair & Position:
USDJPY— 1:5 RR
Long—
according to the Harbmayg Schematic, the market has successfully:
a. aligned with the daily template,
b. liquidated the lows,
c. printed morning star pattern
2. Performance: (1 out of 5)
Confidence— 5
Discipline— 5
Execution— 5
ZS - opportunity to buy this dipZS gapped and broke above a neckline "zone" (142 - 145) on 2nd June, eventually hitting a high of 162.67 before retracing all the way back to the neckline. The stock is still in the early stage of an uptrend as it is now trading above it's 200 day moving average (with a golden cross that happened last Thur).
"Breakup and retest of a neckline" often provides a 2nd opportunity to long as stock rebounds back above the neckline. However, in ZS' case, the rebound that followed after the initial retest of the neckline was feeble at best. After whipping around the neckline for slightly more than a week, there was a sudden more aggressive sell off last Thursday (6th Jul) as it attempted to close the gap @ 135 that formed just prior to the breakup. The gap closing mission did not succeed as it appeared bulls came back in force resulting in the formation of a small pinbar (bullish) by the day's close.
The trigger to long however, came only this morning as ZS began to rise above the neckline decisively. The bulls appear to be back in control again with today's strong bullish candle thus far (a variation of "morning star" formation) . Currently stop loss should be placed just below the mini pin bar that formed on 6th Jul (ie under 138). I suspect we won't see anymore attempt to close the gap @ 135 in the near future (although nothing is guaranteed!)
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is (probably the most) important! Take care and Good Luck!
Morning Star on PIDILITE INDPIDILITE Industries' daily chart shows a Morning Star candlestick pattern, finding support at the 50 EMA and the Fibonacci 61.8% level. The 14-period stochastic oscillator indicates an oversold condition and recent reversal, confirming a potential uptrend ahead. Bullish signals suggest positive price movement.
Buy at Market, Target at 2700, Stop Loss at 2550
ALKEM LAB BULLSIH PATTERN _Daily Timeframe_NSE:ALKEM
Stock is consolidating between 3350 to 3450 approximately a month. Price 3350 is holding as good support.
Currently we can see there is a morning star pattern(Bullish Pattern) at support which is a sign of strength. We can go long at these levels and keep SL below swing. The stock should not open gap down on 28th June.
Following to this check 1hr time frame we can see there is a reverse head and shoulder although the Shoulder length is a bit low compare to usual H&S.
This is a good opportunity for positional traders stock has potential to go 3600 in upcoming weeks.
Keep eye, Thank you.
This is only for educational purpose, please manage your risk accordingly.
USDJPY uptrend scalp to higher highThe daily closed bullish but with some buy exhaustion which led me to believe that there still some bullish momentum but not much. The 1H made a clear higher high and decided to hold at its lows but created some bullish reversal signals on top of support. The moving avergae plays as support as well. Upon the breach of a 30min correction trendline. I believe price is on its way back to test its high or create a new one. Afterall, this is an overall uptrend.
Long PositionKing W. Harbmayg's Journal Entry #26
Primary Position
1. Pair & Position:
GBPUSD— 1:30 RR
Long—
according to the Harbmayg Schematic, the market has successfully:
a. presented the weekly template
b. triggered the interest zone
c. printed rejection structure
2. Performance: (1 out of 5)
Confidence— 5
Discipline— 5
Execution— 5
Catching Falling Knife Series= "IZMO"In this Knowledge Nugget, I have explained logic behind my own trade in "IZMO" which rallied 50% + from its swing low in just days. I am found of entering such stocks for one round of buying at support level with my own set up logic.
This is for educational purpose & please do not copy this trade without understanding risk & position sizing.
OIL - Bullish Swing ReversalNSE: OIL is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the trendline support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
Disclaimer:
This is for educational purposes only.