EURCHF: Time For Correction?! 🇪🇺🇺🇸
After a strong bearish impulse, EURCHF was consolidating for 2 weeks
within a narrow range on a daily.
Yesterday's CPI report triggered a bullish reaction on the pair.
It managed to violate the upper boundary of the range.
I think that the market may start a correctional movement now.
Closest resistance - 0.94
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Swingtrade
Potential swing trade long for NZD/USDWe've seen a nice pullback on NZD/USD into a prior volume cluster, false break of 0.62 with a doji and a bullish divergence with the RSI (2).
Assuming US CPI doesn't surprise to the upside, this looks like a decent swing trade long setup. Although a risk-on vibe and broad USD weakness is required to make it work.
Take note that 1-day implied volatility is 2.5x its 20-day average, which is the highest among FX majors. The NZ-US CESI spread is also diminishing to show economic data from New Zealand is faring better than the US on a relative basis.
A break beneath the doji low invalidates the bullish bias.
EURJPY: Important Breakout 🇪🇺🇯🇵
EURJPY managed to violate a neckline of an ascending triangle formation
on a daily and closed above that.
It confirms the dominance of the buyers and increases the chances that the market returns to a global bullish trend.
The next goal for buyers will be 161.2
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Chambal Fertilizers - Ready for up-move.Stock gave break out from historical resistance on 26 Dec 23 with good volumes. Retest of the same completed today. A short-term long side opportunity may unfold if price breached 388 level with good volumes (preferably more than today) then stock may test 440-450 zone. sl to be kept below 367.5. RS and Volume are good. Momentum needed for trade to achieve desired target is not yet visible.
ELECON- Keep on RadarStock has formed Cup & Handle pattern. Price breakout of the handle was seen on 26 Dec 23 with good volumes, but stock started trading in a tight range right below the absolute top of the cup pattern with low volume. if price breaks above 950/- Level with good volumes and breakout sustains, the stock may give a good upwards move of 25% to 28%.
Entry: Above 990; SL: Below 905.
DIS Bullish Target 110 for April 1Taking a look at the weekly chart, Disney is beginning to show signs of a bottom with the RSI divergence dictation along with strong bullish impulse off these lows.
With that said, stocks to tend to underperform in January and I'm expecting to see similar follow through with DIS which is why my bullish target of 110 is set for April 1
Trade Safe - Trade Well
HOLDING UP MY 3 SWING POSITIONSWe are almost done with the first week of the year 2024, and still, my 3 open swing positions are holding up.
Currently, if I close all these 3 positions now, the results will generally GAIN.
I will keep holding this as long as the market does not hit my SL and TSL.
Happy Trading everyone in this Community!!!
Dark Pool Buy Zones for Trading Momentum or VelocityDark Pool buy zones, identified with Relational Technical Analysis of the candlestick patterns and where they form in the long-term trend, along with indicators that reveal large-lot activity, are the key to preparing early for momentum to velocity runs for swing trading, position trading and even for planning long-term investments.
NYSE:CHWY is working on a bottom, finally basing and now starting to test the bottom completion level. This can be a strong resistance level where Pro Traders who started a swing trade from the lows are likely to take profits.
Often we see a sideways action develop at this level, the lows of which are usually confined by the support level built on the way up.
This would be the level to watch for the next buy entry signal. If it consolidates narrowly or briefly, then there is potential for a momentum swing trade. If it platforms a little wider but within the last support level, then a position trade entry can develop.
Defence companies looking good againConchin shipyard after a 100% rally entered consolidation phase afterwards. During the previous week bulls were able to close it above a recent resistance of 1120 making a strong candle. Stock becomes a buy above 1130 with a target of 1300 and stop loss below 1050
SWING IDEA - BALRAMPUR CHINIBALRAMPURCHINI seems to be in a very crucial buying zone.
The reasons are listed below :
Stock price tested 411 levels multiple times and finally broke it and it is retesting those levels
again.
Broke the ascending triangle pattern i.e a bullish sign.
200EMA support on daily timeframe.
Stock was in a consolidation phase from last 1.5 years.
Higher high are being formed.
Support formed at 411 levels which was a strong resistance previously.
Target - 462 // 520
SL - 406 on closing basis
Boeing Stairsteps for Swing TradingNYSE:BA has the most powerful and longest momentum run of all of the 30 Dow components. The company reports earnings on January 24th and the run up implies that the 4th quarter is likely to be better than previous quarters in 2023.
This stock has moved strongly since the bottom in November and has been able to pattern out some of the speculation with stairsteps to keep the run moving upward beyond the resistance level of its range trend.
Some of this movement upward is ETF developers building more ETF units for certain industries and corporations.
Profit-taking is likely soon for this swing trade as it nears the long-term resistance at the 2021 highs. However, there is now support from the range of the August highs.
AJG: Entry, Volume, Target, StopEntry: with price above 219.23
Volume: with volume greater than 955k
Target: 243.31 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up)
Stop: Depending on your risk tolerance; Based on an entry of 219.24, 207.22 gets you 2/1 Reward to Risk Ratio.
This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
SPX500 Swing Short Idea!Price has been consolidating at a major Resistance level where price has dropped dramatically in the past. Short positions between 4600-4630 zone. Targets @ 4395 & 4330
Confluences: Consolidation under Resistance, Hanging Man candle on the weekly timeframe hinting at signs that buyers are losing steam, evidence of Divergence, 50MA and 200MA are at the .50 and .382 of Fib. for take profit targets.
Trade safe and good luck!
Swing Trade Patterns: $NKE ExampleNYSE:NKE stock has a 2-day resting pattern and then a candlestick buy entry signal that is slightly longer than its average price gains in a single day.
Most Volume Oscillators are not at the top of the chart yet. Flow of funds indicators indicates money flowing into this stock.
The higher line is the bottom completion level for this short-term bottom. The resistance is moderate for a swing trade, but the stock could break through if momentum to speculative buying continues.
AUDUSD: Bullish Rally Continues 🇦🇺🇺🇸
As I predicted, AUDUSD perfectly respected the underlined green daily support.
The price formed a high momentum bullish candle after a release of US fundamentals yesterday.
We may anticipate a further growth now to 0.6715 resistance.
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TTML bouncing from retracementTTML has been consolidating since september 2023 and is now trying to bounce from a crucial level. Fibbonacci 50% retracement level and a prior resistance level of 85 becoming support. Looks good for a long above 92-94 with stop below 85 and targets of 130.
Disclaimer- Just for educational purpose.