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Patterntrading

Understanding Gold's Path to$2680:Key Levels and Market BehaviorThe current correction in Gold is likely targeting the $2680 level, which remains relevant. However, there's also an interesting level at $2640 that has emerged along the way . This doesn’t change the overall bearish outlook for Gold, but I want to highlight something new! I’m pointing out an important detail for you: the price behavior at the $2590 level. Previously, this level was broken by a bearish candle (1), and the price has returned to it (2). The devil is in the details! Here’s the insight: if the price approaches this level from below again (as it has), breaks through, and then holds above it (1-2), we could see an upward trend. And vice versa. This pattern occurs very frequently across all instruments. The reason for the 'trigger' nature of the candle breaking support is that it serves as a trigger for many traders, including large ones. A well-established breakout pattern generates a chain of events and actions that are subsequently utilized by 'other' market participants. Keep an eye on it, or better yet, backtest it and draw your own conclusions!
OANDA:XAUUSDLong
by ClashChartsTeam
CXW Inverse Head and Shoulder + Bullish Divergence!Hey Folks! Not a fundamental analysis or financial advice, but trading idea on why it could do well in the coming months and beyond. I have discovered a technical repeat pattern in this one. I first found this stock after Trump made his statement regarding large deportations if elected. So naturally I look up prison stocks lol. I made a nice trade on it last time it dipped and reversed, and I want to bring it to everyone's attention. The overall pattern is shaping up nicely for a big move, a long election season is approaching border security will be a big deal and Core Civic will benefit in form of major government contracts, especially if Trump gets re-elected, even Biden might get pressured to crack down on border security. From the company, I'd like to see a new fundamental catalyst to capitalize on this bullish setup. Happy Trading! OnePath
NYSE:CXW
by OnePath
2
VANRY ALANYSIS (update)🔮 #VANRY Analysis - Update 🚀🚀 💲💲 #VANRY is trading in a Descending Broadening Wedge Pattern. And the price pullbacks from support zone. There is an instant resistance area and if it sustain here then we will see a bullish move 💸Current Price -- $0.1045 📈Target Price -- $0.1500 ⁉️ What to do? - We have marked crucial levels in the chart . We can trade according to the chart and make some profits. 🚀💸 #VANRY #Cryptocurrency #Breakout #DYOR
Long
by ZEUS_Market_Alerts
Aditya Birla Capital Ltd. (NSE: ABCAPITAL) Technical AnalysisCurrent Price: ₹201.60 (-0.82%) Price Target (Jefferies): ₹265, maintained at Buy Technical Overview Price Action: The chart reflects a strong support level near ₹197-₹201, where the price is currently hovering. The support zone is reinforced by a trendline that has been respected several times (highlighted with green arrows). This support level aligns with a high-volume node in the volume profile, indicating considerable buying interest around this area. Volume Profile Analysis: A significant amount of trading activity has occurred around the ₹190-₹200 range, suggesting strong demand. On the upside, high trading volume can also be seen around ₹227 and ₹241, which could act as resistance if the stock attempts an upward move. Moving Averages: The 50-day and 200-day moving averages are providing additional support and resistance signals. The stock is currently trading near its 200-day moving average, which has historically provided solid support. A sustained break below this level could indicate bearish momentum. Resistance Zones: The stock has encountered resistance around ₹240 (indicated by red arrows), with multiple attempts to break this level failing. This level will be crucial for the next bullish wave, and a breakout above it could lead to a new upward trend. Key Pattern Observations: A broad ascending triangle pattern is observed, with the stock making higher lows since last year. This bullish structure indicates underlying strength, but a break below the support line could invalidate this pattern. Technical Indicators 1.RSI: The Relative Strength Index is nearing the oversold territory, suggesting that the stock may be due for a reversal or consolidation phase. 2.Support and Resistance Levels: Immediate Support : ₹197 Critical Support : ₹190 Resistance Levels: ₹211, ₹227, ₹241 Outlook and Conclusion With Jefferies setting a revised target of ₹265 and maintaining a Buy rating, there is an optimistic long-term outlook. However, in the short term, the price may continue to consolidate around the ₹190-₹200 support region. Bullish Scenario: If the stock bounces off the ₹197 level, supported by increased volume, it could make another attempt to reach ₹227 or even test the critical ₹240 resistance. Bearish Scenario : A sustained break below ₹190 might attract further selling pressure, pushing the stock toward the ₹175 region. Investment Idea: Traders may look for buy signals around the support zones of ₹190-₹200, with a potential target near ₹227 and ₹240, while maintaining a stop loss slightly below ₹190.
NSE:ABCAPITALLong
by AngshumanSaikia