Technical Analysis of MODEFENCE ETFOverview of the Stock and Recent Price Action
The MODEFENCE ETF, listed on the NSE, has shown notable price movements over the past few months. The 4-hour chart reveals a descending triangle pattern, indicating a potential bearish continuation or a bullish reversal if the price breaks above the upper trendline2.
Step-by-Step Analysis
1. Trendlines and Channels
Descending Triangle: The upper trendline connects the lower highs, while the lower trendline connects the recent lows. This pattern typically signals a bearish continuation but can also indicate a bullish reversal if the price breaks above the upper trendline2.
Harmonic Pattern: A Gartley pattern is drawn on the chart, with points A, B, C, and D marked. The ratios between these points are:
AB = 0.976
BC = 1.726
CD = 2.4
AD = 0.549
2. Volume Analysis
Volume Spikes: There is a noticeable spike in volume towards the right side of the chart, suggesting increased interest and potential momentum.
3. Price Information
Current Price: 70.72 INR, with a change of +1.52 (+2.20%).
4. Indicators and Events
Earnings Announcements: Key earnings dates can significantly impact price movements.
Dividend Payments: Dividend events can also influence stock prices, especially around announcement dates.
Potential Price Movement
Bullish Scenario
Entry Point: A break above the upper trendline (around 72 INR) with strong volume could signal a bullish reversal.
Stop Loss: Below the lower trendline (around 68 INR) to manage risk.
Profit Target: The next resistance levels at 74 INR and 78 INR.
Bearish Scenario
Entry Point: A break below the lower trendline (around 68 INR) with strong volume could indicate further declines.
Stop Loss: Above recent highs to avoid false breakdowns.
Profit Target: The next support levels at 64 INR and 60 INR.
Conclusion
The MODEFENCE ETF shows a descending triangle pattern and a bullish Gartley harmonic pattern. The recent spike in volume suggests a significant move is likely2. Traders should watch for a breakout above the upper trendline for a bullish signal or a breakdown below the lower trendline for a bearish signal. Proper risk management with stop-loss orders is essential to protect against adverse price movements.
Triangle
PAYTM Ascending triangle PatternPaytm Daily Chart Analysis
This daily chart of ONE 97 Communications Ltd (Paytm) shows a strong uptrend with prices consistently following an ascending trendline, forming a triangle pattern with higher lows. The stock is currently testing the resistance zone around ₹780 - ₹790, which aligns with previous rejections.
Key Observations:
1. Triangle Pattern Formation: A triangle pattern is forming as the price consolidates within narrowing boundaries, indicating a possible breakout soon. The lower trendline has acted as strong support throughout this rally.
2. EMA Support: The price is trading above the 13, 48, and 200 EMA levels, signaling a bullish sentiment. These EMAs have provided reliable support, reinforcing the ongoing uptrend.
3. Volume Analysis: There is steady volume, with spikes on green days, suggesting accumulation. This volume behavior often precedes a breakout, where a significant volume increase can confirm the direction.
4. Resistance Levels: The key resistance levels to watch are ₹790 and ₹803. A breakout above these levels, especially with high volume, could push the stock into new highs.
5. Potential Scenarios:
• Bullish Breakout: If the price closes above ₹790 with strong volume, it may lead to a breakout, targeting ₹850 and higher.
• Reversal Scenario: If it fails to break ₹790 and reverses, it may retest the support around ₹748. A breakdown below this support could lead to further downside toward ₹700 or lower.
RSI: The RSI is around 59, indicating mild bullish momentum. Watch for an RSI break above 60 to confirm strength on a potential breakout.
Summary: Paytm’s price action suggests a high probability of a breakout. Traders should watch for a close above ₹790 for confirmation. Maintain caution around resistance and support levels, as a failed breakout could lead to a pullback.
Disclaimer: This analysis is for educational purposes only and should not be considered as financial or trading advice. Please conduct your own research or consult a financial advisor before making any trading decisions.
BAYER CROPSCIENCE - Potential 40% upmove Mid Term IdeaThe stock is in strong uptrend.
Moving out of a 4 year old consolidation zone.
Coming out of a 5 week old
consolidation, Daily VCP Breakout.
Ready for Swing Targets
15% 8215, then 9579 - Short To MId Term Targets 3-6 months.
SL 5% 6576 Daily closing Basis.
Give me some energy !!!As you can see, the price is in an ascending triangle. If a breakout occurs, we can say AB=CD.
Give me some energy !!
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✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
LTC trianglesLTC price action goes through descending triangles. Every triangle takes longer to play out (lengthening cycles)
First triangle was from mid 2017 to beginning of 2019. (yellow triangle)
Second triangle from beginning 2019 to 2021. (orange triangle)
Third triangle took from 2021 till 2024. (red triangle)
The base of every next triangle is set at the last upper touching point of previous triangle (last candle that touched resistance before breakout).
Bullrun after breakout from red triangle was rejected for now by green line, which has been important level since 2018 (app. 100 EUR). It also coincides with the last touch point before breakout from red triangle. This green line is very important level LTC needs to break before it can go into bullrun mode.
Stoch RSI on the monthly is below 20, curving towards the upside. And RSI on LTCBTC chart has been creating higher lows since January this year while price action has been making lower lows (bullish divergence).
Could this be the much needed push?
DC. $0.0014 price target.The falling wedge, as one of the basic patterns for this chart, is an excellent indicator of where the price will go in the medium term. Also, I noted potential trading levels, which in turn are resistance and, in the case of a bullrun and continuation of the upward trend, will be support levels.
EUR/USD: PAT + VPA 10/02/2024Good afternoon,
Today, my focus will be on identifying long entries for a long position, as we appear to have reached a selling climax.
On the 15-minute time frame, a robust demand zone is evident between 1.0300 and 1.0400. The market has made a significant move towards 1.0300, leaving indications of early buying activity from "Market Makers." A notable reversal occurred on October 1st, followed by the formation of a bullish wedge (which is typically a bearish pattern) that pushed the market below the previous low. Currently, we are beginning to form a triangle on the 15-minute chart, which serves as a critical signal for a potential market reversal, particularly since it has not managed to fill the liquidity above it. This downward movement seems designed to eliminate the remaining sellers and early buyers. Additionally, my strategy, "High Clear," has materialized, suggesting that a liquidity sweep of the recent low was anticipated.
I am now monitoring the fourth leg of the triangle as it approaches the lower congestion line, preparing for a potential breakout with the fifth leg. It is important to note that if a sixth leg forms, it would indicate a continuation of the market trend.
I suspect that the market is attempting to prompt traders to shift to short positions, setting the stage for one final significant rally towards 1.1300. I anticipate that the market could reach this level in the coming weeks, unless we observe the formation of a six-legged triangle.
The Pip Assassin
FX:EURUSD TVC:DXY XETR:DAX
Bitcoin can breach retracement level and resistance levelBitcoin could not break ATH and once again fall to the retracement level and also break ascending triangle it is the sign bitcoin should go down and retrace more to the given levels in chart. bitcoin never go up without doing retracement so here we need a retracement of 63K for Bullish trend.
SOLANA → Resistance retest. Will there be a reaction?BINANCE:SOLUSDT , after a strong growth, bumps into the conglomerate of resistances formed on D1-W1. It can be assumed that there is not enough potential to break through this area at the moment....
There is a clear resistance of the sideways range with gradually narrowing borders on the chart. This is a consolidation, which is most likely not over yet. The market continues to accumulate potential before further strong movement.
The price reacts very aggressively to the resistance of the figure every time: the retest is followed by a strong decline to the lower boundary.
The actual retest ends with a false breakout and the formation of a reversal pattern and the trigger of the 173.00 zone. Accordingly, if the SOL continues to decline, which leads to a breakdown of support, the market may enter a sell-off phase.
Resistance levels: 183.4, 188.3
Support levels: 173.0, 159.1
I don't exclude that on the background of bitcoin's active growth SOL may make another attempt of a bull run, for example, to 188.4-188.3. But liquidity formed above this zone will not let the price up the first time.
At the moment the focus is on 173.0. A breakdown and consolidation below this area will activate a sell-off...
Rate, share your opinion and questions, let's discuss what's going on with ★
BINANCE:SOLUSD ;)
Regards R. Linda!
WILL CARNIVAL CRUISE LINE ($CCL) CONTINUE TO SAIL HIGHER?! 50%+🚢 WILL CARNIVAL CRUISE LINE ( NYSE:CCL ) CONTINUE TO SAIL HIGHER?! 50%+ Potential! 🚢
NYSE:CCL had a rough ride during the COVID pandemic as everyone stayed home, not vacationing, and definitely not cruising. But could it be ready for a massive comeback?
In my latest video, I break down the "High Five Setup" trading strategy, the ascending triangle breakout, and when to possibly enter this exciting trade.
Trade Idea:
Entry: $20
Exit: $17.88
PT1: $26
PT2: $30.64
Thanks for watching and for all the support! Let me know what stock or video you want to see next.
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Not financial advice.
#StockMarket #Trading #Investing #CarnivalCruise #HighFiveSetup
My last resort for a bull caseI admit the earnings reaction was a bit of a surprise to me, but I'm only writing this because I was in denial of the technical signs I clearly saw. The Oct 9 - Oct 23 leg down was in five waves, so I should've anticipated that upon the earnings, we will move down - the move up in the days prior to the earnings was in three and retraced to the 61.8 - 78.6% zone.
Right now, I am leaning towards a $100 price target, I give it about 90% chance. However, I am giving it a tiny chance that the set of threes which have been printing since the March 8 ATH is forming an ABCDE triangle. If so, the local low is in and we move higher from here.
ETHEREUM - Time to buy again!The BINANCE:ETHUSDT is in a ascending triangle now which means the price will increase and also It is expected that the price would at least grow as good as the measured price movement(AB=CD). also a bullish Hidden Divergence (HD+) on MACD which shows Positive Signs for ETH.
Note: we should wait for the breaking of the triangle and than make a move, If the triangle breaks, we expect a new ATH to occur, but in new year.
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard.💚
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✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
ETHEREUM → Price can't break the bearish trend. False breakoutBINANCE:ETHUSD is facing selloffs. Technically, ETH is showing weakness on the background of growing sales. Any growth attempts are aggressively sold off. The price continues to test the support, which only increases the chances of a breakdown
Accumulation is narrowing. Ethereum is unable to leave the downtrend. The pressure formed by the bears is only getting stronger. Earlier there was a growth attempt, which became unsuccessful, after a false breakdown of the intermediate resistance 2717. The bears did not let anyone near 2817. On the background of yesterday's fall, associated with bitcoin correction in the 67K - 65K zone, the price tested the consolidation support and is forming a false breakdown.
From October 22: BITCOIN → False Breakout & Bearish Engulfment ↓
If the price does not start active growth, but returns to the support and starts to enter the risk zone, it can provoke the activation of orders and a strong impulse to 2100-1900.
Resistance levels: 2562, 2728, 2764
Support levels: 2392, 2318, 2111
It is not excluded that the price may return to the triangle resistance or 2728, but there are no hints for now. Emphasize on 2562 and 2392, two important zones from which a strong fall can be formed
Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:ETHUSDT ;)
Regards R. Linda!
Celsius ($CELH) is FINALLY BOTTOMING. NOW IS THE TIME TO BUY! NASDAQ:CELH is FINALLY BOTTOMING?! NOW IS THE TIME TO BUY!
5 REASONS WHY:
1⃣ We have DIVERGENCE on the Weekly Chart
2⃣ It's a "High Five Setup"
3⃣ It's a BUY according to my Valuation Metric Tool (4/6 score)
4⃣ Growth Beast! Beaten down over 40% this year
5⃣ Find out by watching. 👇
Video analysis 5/5. Stay tuned for more!🔔
Like ❤️ Follow 🤳 Share 🔂
Will Celsius finally get back on track with their growth or be defeated by the Goliath Monster?!
Sorry for the pauses in the middle of the video; my dog came in and was about to start howling 🐶🤣
Not financial advice.
GBP/USD Long (Rising Traingle)Going long on current rising triangle on GBP/USD
- Lately GBP/USD been trading at good levels of support and have been looking for a long entry for over a week.
- The Triangle set up here is very promising as we just recently broke out and we are making are way over some crucial EMA/SMAs
Can BNB reach around $1000 ?...The BNB is in a ascending triangle now which means the price will increase and also It is expected that the price would at least grow as good as the measured price movement(AB=CD)
Note: we should wait for the breaking of the triangle and than make a move!
See my first anaysis on BNB in 2020
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard.💚
_ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
DXY Descending Triangle PatternDXY is forming a descending triangle today signifying further downward momentum is likely. Take note of the lower highs and continued rejection at this same level of support. This shows a lower amount of buyers at each rejection. It is likely due to this, support will break unless new buyers come in to place.
Alphabet Inc. (Class C) | Chart & Forecast SummaryKey Indicators on Trade Set Up in General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Active Sessions on Relevant Range & Elemented Probabilities;
* London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management on Demand;
Overall Consensus | Neutral
EURJPY → Buyer pressure is mounting. Pre-breakout consolidationFX:EURJPY is forming quite an interesting situation on the background of inaction of the Japanese Central Bank (weakening of JPY exchange rate) as well as strengthening of EUR.
The currency pair has been in the realization phase for more than a week. Based on the general assumptions, we can assume that this is not the end and the growth may continue. An ascending triangle is being formed on H1 (pre-breakout consolidation) against the resistance at 166.065. Accordingly, this level is a trigger. Within the general technical and fundamental environment, we can conclude that the currency pair is preparing for the continuation of growth.
If the bulls are able to overcome 166.06 and keep the defense above this zone, we should expect the continuation of the growth in the short and medium term.
Resistance levels: 166.06, 166
Support levels: 165.68, 165.14, 164.95
The trend is bullish, buyers are actively defending the trend support. All market pressure is focused on the resistance. A break of the level may provoke a strong upward impulse
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURJPY ;)
Regards R. Linda!