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Breakout in Cipla?Potential breakout in Cipla? Let's understand. Candle made yesterday followed by the candle made today indicates a lot of strength. Both the candles are big green candles backed up with big green volume bars. This gives me a hint that the resistance zone between 1520 and 1525 might be broken now and we might see a strong breakout. Coming to my momentum indicator, RSI, it is moving in the buy zone now. We generally consider the zone between 40 and 60 as neutral and RSI is just breaching the 60 mark. So, I will buy as and when I get a new buy signal in the hourly chart with SL below 1470 and targets above 1525.
NSE:CIPLA1!Long
by travellingtradermumbai
EUR/NZD Short, SOYBN/USD Short and WTICO/USD ShortEUR/NZD Short Minimum entry requirements: • 1H impulse down below area of value. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it. SOYBN/USD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of interest. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it. WTICO/USD Short Minimum entry requirements: • 1H impulse down below AOI. • If 3 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
OANDA:WTICOUSDShort
by StewySongs
EURUSD - Bullish and Bearish at the Same TimeOn the 1 hour, we see price in a current Bullish bias. This is the same bias on the 4 hour chart. But there is a strong likelihood that this Bullishness might not hold for much longer. On the Daily chart, we see the price as being in a bearish swing. Prices had no doubt gone above the protected high last week, but unfortunately did not close above the protected high. The price went above and came back to close the daily candles below the protected high. We will therefore treat such price movement as a spike while holding on to the current bearish perspective on the daily chart. What is my Trade Perspective...? Because i trade the lower timeframes from off the 1 hour setup, i will still hold on the bullish perspective off of the 1 hour chart. I will look to monitor price movement and follow through as it meets each of every condntion of my Bullish trade setup. It is only when the bullishness of the 1 hour chart is invalidated and I see a trend shift on the 1 hour from Bullish to Bearish, that I will begin to consider the Bearish perspective. And if that happens, we will be looking to trade bearish, all the way to the Daily liquidity target.
by PanzyPips
EUR/NZD Short, WTICO/USD Short and SOYBN/USD ShortEUR/NZD Short Minimum entry requirements: • Tap into area of value. • 15 min rejection or phase line break. WTICO/USD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it. SOYBN/USD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of interest. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
OANDA:SOYBNUSDShort
by StewySongs
1
3rd try at breaking through long-term resistanceGold is showing a classic long-term cup and handle period. Spent about 7 years in the "cup" (long shakeout period from the bubble that had formed after the last financial crisis followed by an eventual rally to previous all-time high). It has spent over 2 years now in the "handle" (period of consolidation giving the appearance that price can't break through the previous all-time high). After a recent shakeout and false breakdown from the handle pattern, it looks like it wants to test the all-time high again and this time there's a major catalyst (flight to safety due to all the uncertainty recently with the banks and the potential for yet another financial crisis). Due to that, I don't think you need to wait for a breakout of the all-time highs around $195 in GLD but that would be a safer entry (a monthly close above that level). Of course another shakeout from that level could follow because if I have picked up on this potential trade, then many others likely have also. Anyway, I am just speculating and not a financial advisor, if you decide to follow this please trade at your own risk and diversify (this trade won't break the bank for me personally if it doesn't work out and it shouldn't for you either).
AMEX:GLDLong
by PatientContrarian
Potential BTCUSD Reversal and Downtrend from ResistanceAnalysis Overview: In this analysis, we observe a potential reversal pattern for BTCUSD based on the 4-hour chart. The price is approaching a significant resistance zone, indicating a possible turning point. Key Points: Swing High & Lower High: BTCUSD has formed a recent swing high followed by a lower high, suggesting weakening bullish momentum. Resistance Zone: The price is nearing a critical resistance area marked by the PREVIOUS monthly ATH and the 4-hour FVG. Bearish Order Block: The red zone indicates a bearish order block, which could act as a strong resistance. Possible Scenarios: Rejection and Downtrend: If BTCUSD gets rejected at the resistance zone, we could see a decline towards the swing low and potentially further down. Break and Continuation: Conversely, a break above the resistance could invalidate the bearish outlook and suggest further bullish movement. Trade Idea: Short Entry: Around 70,000 USDT. Target: Initial target at 55,000 USDT. Stop Loss: Above the resistance at 72,000 USDT. Conclusion: This analysis highlights a potential short trade opportunity based on the identified resistance zone and bearish order block. The targets and stop loss levels are clearly stated to manage risk effectively. Please ensure to conduct your own research and consider the market conditions before taking any trade.
Short
by stavkog
WTICO/USD Short and SOYBN/USD ShortWTICO/USD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it. SOYBN/USD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
OANDA:SOYBNUSDShort
by StewySongs
BANKNIFTY Trading Strategy for 15th May, 2024 | Expiry TradeNSE:BANKNIFTY Trading Strategy for 15th May, 2024 | Bullish Reversal confirmed. ✅ Breakout from lower end of rising channel at daily chart. ✅ Breakout from Falling wedge patter at 15 min Time Frame Trading Strategy :- ✅ Initiate CE trade if Banknifty crosses and sustains (min 30 mins) above 48000 - 48070 ✅ Target - 48258/48461 ✅ Initiate PE trade if Banknifty crosses 47800-47750 ✅ Target - 47607/47429/47099 Look at the chart for more information Do share your thoughts on the analysis. Lets decode the charts together.
NSE:BANKNIFTY
by Nivesh_Labs
Canadian Dollar Futures Trading Plan and ExplanationAfter analyzing options trades on CME, we found a promising opportunity to short Canadian Dollar. The option contract is for April with an expiration date of April 5, 2024. We noticed an interesting option portfolio on March 22 that aligns with the trigger level on the futures chart (refer to chart). A trigger level is a graphical pattern on the underlying asset that prompts traders to take or avoid specific trading actions. For the Canadian futures chart, the trigger level is the price breakdown of the local resistance at 0.7403-0.07406. Opening long positions at the breakdown point was encouraged by the bullish shape and intensity of the candlestick with minimal shadows. This level was attractive for making purchases for both chartists and adepts of candlestick analysis. The study of options trading has revealed that these levels are useful for opening counter positions when the price reaches them. To execute this strategy, smart traders use naked options in advance, specifically PUT options with a strike of 0.74. By utilizing the leverage effect of options, traders can create substantial short positions on futures contracts while maintaining a risk-free position for a limited time. IMPORTANT! We do not expect the price to move towards the strike level. Instead, we recommend using the obtained exchange data and analyzing it to gain an edge when opening a trade, providing a better starting point and improving the risk/reward ratio.
CME:6CM2024
by ClashChartsTeam