NiftyBank trend for tomorrowToday a V- shaped recovery has been seen in Niftybank from previous day's low of 41900 today it stand near 42500approx and it moves beyond that and went upto 42700. If this upward trend sustains above 42700 for tomorrow then it will hit 43000++ and will show strong momentum. But it has reversed somewhat today which shows a clear indication of inverted head and shoulder pattern on a 15 min timeframe which says if it crosses below 42300 and sustains below that then niftybank will hit 41900 and fall below that which will ruin everyone's portfolio to some extent.
So, basically what I am trying to say is that opening and the market momentum after half day will clear our confusion. Moreover DIIs buying in cash market was more than the sellings by FIIs today.
Trendanalyisis
GOLD : Updates short term SetupHi everyone!
The trend is still bullish on daily chart, but at the same time, we expect some corrective structure (from here or new top) in play in near term. As we have already shown in the previous analysis, technically speaking the target of the corrective structure on 1H chart is around $1,791.
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COST - Who doesn't love costco?Costco is probably one of my favorite places to shop and I think the stock price over the last 14 years has proven that to be the case for a lot of people.
The main issue I have with buying this stock is valuation and growth of the company. I don't see how they will be able to grow fast enough to support a 35+ PE ratio.
Taking the fib from the 08 lows to the 2022 highs, we get targets around 395, 327, and 258 for the 38.2, 50.0, and 61.8 retracement levels. If you think about it, 258 from a valuation perspective only starts to make the stock a reasonable price at about a PE of 20 assuming 13.23 EPS.
It looks beautiful from a long term trend perspective and I think it has many more years to grow, but I wouldn't touch it unless it was 308 or less purely from a fundamental perspective. Might look to short this one this year.
This is not financial advice. Good Luck!
FedEx: Bearish consolidation in short term?Hi everyone!
FedEx's main trend still remains bearish, but in the near term we are following an interesting technical rebound, that said, our guess is that the price action might need some consolidation on the intraday chart with a target 1 around $168.
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(USDCAD) LOOK FOR BOUNCE FROM SUPPLY ZONE 1.35000!!Hope everyone's enjoyed a break, I took a lot longer then expected with moving in the process so I will have a mic set up very soon for more chart insight from myself! Anyway I thought id just share my view here on USDCAD and then cover some more pairs on request... The start of January is always quiet but as price picks up ill be watching this pair around the key area of 1.35200 for a possible bounce to continue in the current 4hr zone or a possible break of sideways structure for a move lower.
TATA STEEL Broken the Trend LineTATA STEEL took support on this trend line 3 times and now it broken with some big red candle in 1-day time frame.
Overall it looks like a bearish trend in weekly time frame and reverse in Fibonacci retracement tool at 61.8% level confirms the correction has finished and now ready to come down the mentioned levels. NSE:TATASTEEL
APE Squeeze $ Alert we got our breakout before the market closes last Friday as we spoke about it on our live streaming, now we holding above that major support box (1.85$/2$) if we did hold above that box, we going to have another pump to test our first profit taking around the 2.43$, then the second profit taking and squeeze area above the 2.80$.
BTC Bulls Next Target is $17600-$18200 After This HappensBitcoin Bulls are ready for some good green Holidays in December, The current pullback after hitting $16800 could go further down to a more stronger support range at $15800 - $15450 range. This range will provide buyers with sufficient buy capital to attempt the $16800 resistance of which I so see them clearing through it to hit $17300, but here I see market makers targeting Sellers(Shorters) stop-hunt around the $17600 all the way up to $18300.
I'm staying open minded on the support and a possible worst case scenario triple bottom could arise because for now the current Dojis on weekly support shows anything can still happen, What are the chances that the bulls will make it to above $18k in Dec?
I say we have over 75% chances of bulls making it to $18k and over 65% above $20k
The current pullback must not go below last low of $15433 range to be more open minded,
I do see that from December 2022to January 2023 will give buyers the opportunity with the current accumulation on going to achieve a little more recovery to the upside before a major more dump coming from Mid 2023 to 2024.
SPX: Be AWARE of these KEY POINTS!• In the 1h chart, the key resistance is the green line at 3,974, as this area was a multiple resistance for the index last week;
• Only if the index breaks its key resistance it could resume the bull trend and seek higher levels again, like the 4,083;
• On the other hand, the main support is the red area seen in the daily chart, and as long as the index stays above this area, it won’t reverse the mid-term bull trend;
• The mid-term trend is bullish because the index is doing higher highs/lows and it is trading above the 21 ema since October;
• The 3,911 seems to be the key support level, as only if the index loses this line it would do a technical reversal sign;
• For now, it seems the index is in a “no man’s land”, and we must wait for a proper reaction. I’ll keep you updated on this.
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SPX: Bullish reaction above a support. What to expect next?• The index is trying to react this morning, and the timing of this reaction is quite good, after all, it is just above our support area, which I mentioned yesterday;
• What’s more, yesterday’s candlestick indicates stabilization, while the 21 ema was working as a resistance;
• Now, the index is just moving according to our previous analysis, and if it closes above the 21 ema again, it might bounce to the 4,083;
• The 4,083 is a key resistance and it was a gap area;
• Only if the index loses the 3,911 I see this bull trend getting weaker. So far, nothing new or surprising is going on. Another update tomorrow.
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SP500 Correction Alert: Supply&Demand, Ichimoku & Trend AnalysisHello friends,
SP500 is going to experience a rough patch in 1H timeframe.
as shown in the chart, two long term and short term upward trend lines are broken .
also from an Ichimoku point of view, conversion and baseline have crossed downward with a red Kumo cloud switch and the price is below the kumo cloud. this is one the most powerful Ichimoku signals.
so its probably very wise to close all speculative long positions if you have any, meanwhile I suggest opening a short position with stop loss at: 4020, and take profit at 3730 which is the next demand zone and is marked by an order block . this short position has the risk to reward ratio of 2.6 .
Please manage your risk responsibly and make informed decisions.
Good luck!
A Breakout Signal!The candlestick pattern indicates a price breakout signal right above the MA13 line due to significant price movement backed by high volume.
The MACD and RSI also show a positive reading which indicates a divergence signal.
Let's SOLUTN in WL and watch out for significant price movement toward the next price resistance.
R 0.380
S 0.270
LIQUIDITY RUNSLiquidity runs occurs when price gives a false break out below a support or above a resistance and the purpose is usually to take out the stops or liquidity lying around those areas. This liquidity is then used by market makers to open their large positions in the opposite directions. When a false break out occurs below a support, stop losses belonging to retail traders are wiped out and retail break out sellers get trapped. The opposite happens at a resistance level. Liquidity run is my favorite strategy when I'm anticipating market reversals or at times retracements like what happened with dollar pairs yesterday (5th Dec 2022).
HullBuster | USDCAD breaking out to the upsideGann Technical Analysis: USDCAD 4 hour chart
On this chart we measure the valley formed on 10 May 2021 which peaked out on 14 October 2022. Applying our Gann fans we can see a very nice symmetrical Gann pattern where all of the price action is neatly contained within the 4:1 and 1:4 lines. Overall, it’s a relatively shallow rise over the span of a year or so. However, it made a decisive move in September by piercing the 2:1 line. We’ve had some choppy trading since hitting the peak but the fall couldn’t break the descending 1:4 line. According to Gann principles this instrument is clearly going up at least until the declining 4:1 line. A break above the 8:1 line could see significant upside potential. While a fall below the 38% on the Gann Timing Box would indicate renewed dollar weakness. Happy Trading and Happy Holidays!
Methodology:
I use external Gann software to calculate the angles. The software uses a fixed grid calibrated per instrument. I use the TradingView Gann Fan to illustrate the analysis. It is not used in the calculation so the angles do not match your viewport orientation. Please see my angle gauge for a 360 degree representation of the calculation result using the current instrument price as of this date. The peak angle is represented using negative coordinates so as to preserve the Gann parlance and event recognition. It is not part of the formal indicator.
William Delbert Gann (1878-1955):
Commodities trader who developed a technical analysis method using geometric angles to forecast price movement. The core of his work relies on pivot points and lines drawn at fixed rates of speed. He is also the author of numerous finance books and trading courses. Although he developed several time and price indicators, this analysis uses only two: the Gann Fan and Gann Square.
Fundamental USDCAD:
The CAD is the official currency of Canada since 1858. The Canadian Dollar is a global reserve currency ranking as the fifth most held by central banks. Canada itself is a nearly two trillion U.S. Dollar economy measured by gross domestic product. It is a country rich in natural resources specifically lumber, minerals, oil and natural gas. In the forex market, the value of the CAD fluctuates in response to demand for its natural resources pegging the USDCAD as a commodity currency. In addition to its resources, Canada is a major exporter of finished goods. Namely, aircraft, plastics, equipment and machinery. Also, Canada has a vibrant local economy and is subject to much cross border activity with the United States. Needless to say, this is a very stable and widely held currency that sees its cross rate value strengthen during favorable RORO periods.
A Breakout Pattern!The price indicates a breakout pattern due to fresh buying interest backend by high volume.
MACD indicates a divergent signal backed by the price breakout.
RSI indexer is above 70 due to fresh buying interest on the stock.
Let's save EURO in WL and watch out significant price movement backed by volumes.
R 0.160
S 0.105
DXY 4HThere is a daily and 4H bullish order block at 104.14 and since DXY has been dropping, the order block might induce a retracement to fill the daily volume imbalance between 105.70 and 105.84 which would be a safe zone to take your profits if the setup plays out as explained. Price might also decide to climb higher to fill the fair value gap between 106.08 and 106.27. Price action will tell. NOTE: THIS SETUP DOESN'T GUARANTEE PRICE MOVEMENT. APPLY PROPER RISK MANAGEMENT.
BTC is getting ready for the Big moveHi guys, This is Martin, One of the most active trading view authors and fastest-growing communities.
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
#BTC UPDATE
BTC is forming this big falling wedge pattern
what is falling wedge pattern
The falling wedge is a bullish pattern . Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. In general, a falling wedge pattern is considered to be a reversal pattern, although there are examples when it facilitates a continuation of the same trend.
*BTC Need to Clear the 18,500 Resistance to Confirm the Falling Wedge Breakout
* RSI is also sowing some bullish divergences move
*If it conform this pattern then according to the pattern we will see good bounce
Stay tuned I will keep updating
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Long EURUSD
Daily
Green Kumo
Wide Kumo
Tekan San is Pointing Up
Chicko Above Price
4HR
Tekan is Pointing Up
Chicko Above Price
Kumo is just Changing to Green
Gold Cross
1HR
Kumo is Green
Fibonacci Level at 50.0%
Possible Trade Scenario
Price breaks and closes 4HR TL on 1HR chart then heads to TP1 or -27.00%