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Trend Lines

NIFTY trading precariously - Down move head?NSE:NIFTY daily chart is looking bearish with multiple confluences signaling down move. Trend line break Head and Shoulders 5 waves down If we get a negative close below H&S neckline then it would be second close below neckline and might trigger downfall. On the positive side, ideally we should see a deeper retracement of the 5 waves down-move before the down slide starts. At the minimum 38.2% which would also coincide with downward sloping 20 day moving average, currently around 25300. Would this happen or not, only time will tell.
NSE:NIFTYShort
by YetAnotherTA
2
EURUSD InsightHello, subscribers! Please feel free to share your personal opinions in the comments. Don’t forget to like and subscribe! As expected by the market, the ECB implemented a 25bp rate cut last week. While the Eurozone’s September consumer price index recorded 1.7%, the manufacturing PMI declined, which is being interpreted as the ECB shifting its focus from controlling inflation to protecting economic growth. The market expects the ECB to implement another 25bp rate cut in December. In the U.S., Raphael Bostic, President of the Federal Reserve Bank of Atlanta, mentioned that the Fed doesn't need to rush returning to a neutral rate. Meanwhile, the market anticipates a 25bp rate cut from the Fed in November. In Japan, Masato Kanda, the head of Japan’s currency diplomacy, recently indicated that the yen's movements have been somewhat one-sided and rapid. He also mentioned that Japanese authorities are closely monitoring foreign exchange movements, including speculative foreign capital, hinting at possible intervention by the authorities. - October 24: U.S. Initial Jobless Claims, Service PMI EUR/USD is currently in a short-term uptrend, with a rebound seen at the 1.08000 line, where the lower trendline is located. If the current upward momentum continues, a rise to the 1.14000 line, where the upper trendline is positioned, seems highly likely. However, if the 1.08000 line is broken and the price falls below the 1.07500 line, the uptrend will be disrupted, potentially leading to a decline toward the 1.04500 line. If movements differ from expectations, we will quickly adjust our strategy.
Long
by shawntime_academy
GOLD → 2685 breakout trigger. News ahead. A new conflict! FX:XAUUSD stops correlating with the dollar. The price is testing the key resistance at 2685. Bulls continue to test this area and accumulate the potential for a breakout attempt. Important news on jobless claims and retail sales are ahead China's economic problems have a negative impact on gold as the country is the world's top gold consumer. At the same time, markets are resorting to profit taking on long USD positions ahead of the release of the most important economic data - the US retail sales report. BUT! Another escalation, but in another part of the world: North Korea has declared South Korea an enemy and completely cut off transportation links with it. The markets are clearly not going to let this fact pass their ears..... Technically, the buyers do not retreat from their intentions and continue to test the resistance with a breakdown target. A pre-breakdown consolidation and several possible scenarios are forming, no matter how many people don't like it. Resistance levels: 2685 Support levels: 2674.5, 2665, 2658 A breakdown of resistance will trigger an impulse, and this is a logical scenario based on the technical situation on H1 (ascending triangle, accumulation and compression to the level). BUT! The news can have an unpredictable impact. If gold forms a false breakout and goes back to 2674, having updated this low, the price may go even lower (to 2665, 2658), for liquidity, before returning to the way north Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
32
Bitcoin’s bullish break opens door for run to record highsBitcoin’s break of downtrend resistance has opened the door for a run towards the record highs set in March, especially with the price action today suggesting the break will stick. Even though RSI (14) is nearing overbought territory, both it and MACD continue to offer bullish signals on momentum. One look at historic price patterns also tells you overbought conditions are no impediment for further gains in the near-term. Rather than buy around these levels, I’m waiting for a potential pullback/retest of the former downtrend before establishing longs, allowing for a tight stop to be placed below for protection. $70000 would be the initial trade target with $71931.60 and record high the next after that. Good luck! DS
FOREXCOM:BTCUSDLong
by FOREXcom
USDJPY_maintains a steady uptrend OANDA:USDJPY Similarly, I analyze and trade the current flow or what you can also call the current price action, looking at the 1D Timeframe you can notice a strong buy momentum, creating new structures and leaving gaps behind to be mitigated or filled, once that is achieved by a pullback, USDJPY will irresistibly continue the rally to make a new higher high. Sit back and watch, or do your own research and join the flow. If I may ask, what would you have done currently, considering the latest steady movement, Buy or Sell?
Long
by Samchi01
1
INJUSDT.P / H1 / LONGINJUSDT may rise from the order block Bullish Order Block :- 21.974 and 21.648 The price for INJUSDT Perpetual is currently near the bullish order block ranging between 21.974 and 21.648 . As the price has already touched this order block, it suggests potential upward momentum. Based on this, we can anticipate that the price may rise from this level. However, it’s important to monitor how the price reacts within this zone before making any decisions, as price movements around order blocks can vary depending on market conditions. My analysis suggests :- Entry Price :- 21.962 Take Profit :- 23.022 Stop Loss :- 20.895
Long
by PraveenTrader1
XAUUSD 20/10/24After calling for new all-time highs in gold over the past two months, we have now seen a clear breakout above the previous record. Currently, gold is trading at its highest price ever. Based on this, we cannot set higher targets because there are no previous highs to aim for. The market is still seeking a new all-time high, and once it is established, a pullback to some extent is expected. I do not recommend shorting the market when it is clearly trending upwards. Instead, consider looking for a liquidity low, as marked here, or an area of demand in a significant region. In this case, we have highlighted an area of demand located at the previous all-time high, where substantial orders are likely to be concentrated. If we reach this point, we can either expect a potential reversal or a continuation of the bullish trend. I would favor the latter, as the overall bias remains bullish based on fundamental factors and higher timeframe signals. The main level I'm focused on is the highlighted 4-hour low. I would like to see this level taken out, followed by a continuation to the upside.
OANDA:XAUUSD
by rosshayes
EURUSD 20/10/24Following the bias we had on the Euro last week, the same outlook remains in place. Our high time frame bias on the daily chart is clearly bearish, supported by a strong downward movement. All the indicators are aligning with further price declines, and as you can see, the institutional trajectory is also pointing lower. We are looking for a potential pullback to the supply area, where we would consider selling to target lower prices. This area is marked on our chart. If price breaks through the supply zone, we would then expect a rise towards some of the liquidity positioned above. However, if price does not break through and continues to drop, the next level we anticipate price stalling at is 1.08000, a key level that could serve as liquidity for the last low placed on the daily timeframe. As always, our markup is kept simple to help you stay on the right side of the market without overcomplicating things. Remember, a straightforward system can still provide a consistent directional bias. You don't need a complex strategy to achieve this. Trade safely, follow your plan, and stick to your risk management.
by rosshayes
BankNifty is in Bullish ZoneBank Nifty was recover itself into its channel and still trading in bullish channel near bottom of the channel. Resistance Level is also nearby so wait for the price come to near support level for good risk to reward. Learning : If any instrument is in bullish trend then all support act as strong support and resistance levels breaks. Note : Its just an analysis, wait for the price to confirm. Disclaimer : Always follow risk to reward, this is the only key to success in market, no matter how much good a trade is looking we never know the future.
NSE:BANKNIFTYLong
by smrgrover2
NIFTY50.....Buy signal with stop-loss @24660!Hello Traders, The NIFTY50 fell to 24660.25 on Friday, showing a "gap down"! This gap was closed with a hammer candle, a strong buy signal as long as the low of the hammer holds! It also bounced back to the lower trend line for the 3rd time, showing a good recovery from the lows. There is resistance at or around 24850 and a move around this area opens the door to 25065 depending on when and if it is reached. The descending trend line is also a good clue, as the price will extend this area. From an Elliott Wave perspective, we probably saw a wave b of an expanding flat this week, and the recovery would be a wave c of iv. This would take the rest of next week to establish! In some cases, a wave c of a flat only retraces a 0.618 Fibo of wave a. But only if wave a has developed into a "three-down"! The overall count is unchanged, and the next few days leading up to the US election will be quite exciting! Stay tuned and trade with patience! Have a great week..... Ruebennase Please ask or comment as appropriate. Trading based on this analysis is at your own risk.
NSE:NIFTY
by ruebennase
HelenP. I Bitcoin will fall to trend line and then rebound upHi folks today I'm prepared for you Bitcoin analytics. Some days ago, the price declined almost to support 2 but soon turned around and started to grow. In a short time, BTC rose to support 1, which coincided with the current support zone, and some time traded near, after which it dropped to support 2. When the price fell, it broke the 62000 support level and some time traded below, after which it quickly rose back and trades higher. Later price broke support 2 again and fell to the trend line, after which it turned around and started to move up. Soon, the price reached support 2, broke it, and then made a correction to the trend line, after which rebounded and continued to move up. Later BTC reached support 1, broke it, and rose one more, but a not long time ago it turned around and started to decline. So, in my mind, BTCUSDT will fall to the trend line, which is located inside the support zone, and then continue to move up. For this case, I set my goal at 69000 points. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
7