let's take a quick look at #usdtd #tradingviewAll right guys what we have here is very important for the market's next move, the most important point of this chart that you are looking at is the #usdt #dominance I already marked on the chart for you the possible movement of this #index, I still bleve as #usdt #dominance is broken out the trend line that we can clearly see that its happened yesterday, I can say that the best positions that we can take right now are just #short #positions on the #resistance, try to find the best coins on your #whatchlist and #point the #resistance #zone for all of them, manage your risk and stick to your strategy and pul the #short #postions trigger.
#stay #safe
Positional
MCDOWELL - Breakout TradeThere has been a shift in the trend on the hourly chart of united spirits.
We can clearly see a breakout with a big bull candle.
Since Breakout stock manages to sustain above 790 levels, and also consolidates above it, hence sustaining the same, the stock could move towards 850-860 levels, in the coming trading sessions.
Type of trade:
Long Trade
Positional Trade
Breakout Trade
Great Risk Reward Ratio
Keep Tata motors stock in watchlist.Tata motors stock has been in bull run since last 2 years.
Observing the weekly chart shows a clear formation of Inverted Head & shoulders pattern in the stock.
It can test the neckline definitely in near future which is around 500-520 which is almost 7-8% from CMP.
A weekly closing above 520 levels or above 52 week high of 537 can make the stock move to its ATH levels of 600 and above.
TVSMOTORS Cup & Handle breakoutAuto sector is in bullish momentum considering the hype around electric vehicles and reducing steel prices.
TVSMOTOR is looking very bullish and looks like a good positional trade.
It is very close to its ATH of approx 814 and is currently on the verge of giving ATH weekly closing.
Sterling tools near its supply zoneStertools has been on a downtrend since 2018.
The stock has made a double bottom and currently at the neck line which is very strong supply zone of 250rs-260rs which coincides with 38.2% fib level.
If the stock manages to give a weekly closing above 250rs and sustains the same in the following week, we might see a big upmove in this stock.
Keep this stock in radar for a good positional trade since volumes have increased in previous few weeks
CHF/CAD FOR POSITION TRADINGHello traders. This is the CHF/CAD monthly chart. I just want to show you a potential opportunity in which long-term traders can, perhaps, establish long-term short positions. As you can see in the chart, the pair has been on an upward trend since 2007 and we can draw an upward trend line connecting exactly three touches. But the price has broken the trend line and the price is in a short-term downward trend. But be careful, we still don’t have a confirmed downward trend on the monthly chart. To confirm the downward trend on the monthly chart, we need to wait for the price to make a minimum of two lower highs and two lower lows. The first sign would be if the price breaks the most recent low of 1.2600. In that case, we would get the first lower low and more confidence regarding the bear’s long-term outlook. Of course, after that we have to wait for another lower high and lower low for confirmation and if we get this we can establish a short position. But keep in mind that this would be position trading, and in that case your stop loss would be far away, so this may not be appropriate for scalpers and day traders. Also, the realization of this scenario could take months, but it is worth monitoring. And one more thing, just because the trend line is broken doesn’t mean you should sell right now; if the higher low at 1.26 isn’t broken, we’re still in a long-term uptrend on this pair, but in a retracement mode (or sideways consolidation).
Trade safe,
Merjem
OFSS at multi timeframe supportThe stock is trading near-monthly and weekly price support i.e 2930-3020
Keep an eye on the price action near these levels for any bottom/reversal formation.
Bullish divergence near these levels can be seen on the daily chart.
Wait for more such positive confirmation in price action for initiating any positional trades in the stock with great RR.