Selling
SHORT ON USD/CADThe dollar is currently in a downtrend and has formed a double top on the lower time frames,
The Usd/cad has also created a double top on the lower timeframe. I expect the dollar to continue falling throughout the rest of the day.
here is the play I will be takin:
Entry: 1.37488
SL: 1.37842
TP: 1.36589
DOGECOIN SHOCKED!!!!Dogecoin price analysis is bearish today.
DOGE/USD retraced to $0.06 earlier.
Slight selling pressure returned over the past hours.
The dogecoin price analysis is negative today because of the recent sharp loss and the overnight retest of the previous bottom at $0.059, which was quickly followed by a move higher. As a result, DOGE/USD is now likely to see more resistance below $0.06 and look to decline much more.
Over the past week, as the retracement from the $0.068 prior high began to conclude, Dogecoin price movement has gradually built c above $0.059 level. Due to this, DOGE/USD began to trend laterally, reaching a fairly small trading range at the end of September.
From there, a brief increase in price led to $0.63 resistance, where a sharp decline in price immediately followed. Since then, DOGE has progressively retreated to the $0.059 support level, where additional selling has come to an end.
The current Dogecoin price analysis is pessimistic.
SHORT ON USD/CADPrice has broken the support area of a long term rising wedge.
Since the breakout it has retested the highs of the wedge making a double top pattern on the higher timeframes and currently making lower lows and lower highs.
The dxy is also showing weakness.
I expect this pair to fall through the day especially if the job openings reports show lower numbers than expected.
Here is the play:
Sell stop order
entry = 1.36419
stop loss = 1.36821
take profit = 1.34307
SHORT ON USD/CADPrice has broken support of a rising channel and the dxy is very weak.
I will be shorting this pair as market structure is picture perfect and the previous swing low has been broken.
here is the play i will be taking on this trade:
Entry - 1.36561
SL: $ 1.37106 54 PIPS
PT: $ 1.34731 183 PIPS
NASDAQ, 21ST SEPT MEETING ANALYSIS!!- REUPDATED!!due to the hikes in interest rates, US markets are not getting that freedom to freely enter the market and make their positions. the hike is creating a fear among the people of not entering into the market, and keep on people selling their positions, making markets keep falling.
"A BULL RUN can only happen when all the news has been factored".
this explanation is also set for the INDIAN markets too. and people do have a good and fresh mindset to enter into the markets. when such a thing happens US markets will have a boom. and this will gonna be happening soon.
support lines are too mentioned. news is much factored in the indices, if by a chance nasdaq, broke the particular drawn supports to, then the next support will be forming around 10000, which is about 10% fall, but i dont feel now there is such more news aspects lefty to cover which will make the markets to fall with such a high number.
final words, do watch out for 200 MOVING AVERGE, because from past few weeks, this indicator is acting a very good support for nasdaq.
Scenario for Gold possiblyAt glance we see a down trend based on moving averages. With the yellow being tested and rejected multiple times. Suggesting further downward move can be expected. Zones 1 has bin a str9ng hold for gold. Patience is key for long term trades as a break on upside or downside would suggest further moves. Short term possible selling is availible but will be watching key areas in zone 2 for breaks or rejection.
Please take note this is not trading advice.
NASDAQ TARGET 11541!!, MARK IT. i have made a detailed analysis, that why Nasdaq is falling, and based on different corrections, bear markets and from various crashes, i have made the support and resistance, which determines the supply zone. finally, the markets will not face any crash such, the Nasdaq is just falling because of the hike of interest rates, thats much. people and institutions are moving out from the markets, making the index to get corrected, and this selling pressure, is basically preventing from a huge crash(when the government will such announce hike in interest rates, in some future, just to correct the markets that far).
so analytically, this selling pressure, is making the index to correct itself and preventing it from going in crash.