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Nifty 50 Index - Head and Shoulders Pattern with Fibonacci ** Introduction :** The Nifty 50 Index on the NSE has shown a clear head and shoulders pattern on the 1-day time frame, followed by Fibonacci retracement levels drawn on the 4-hour time frame. This combination of technical analysis tools provides valuable insights for traders looking to predict potential price movements. ** Head and Shoulders Pattern: ** The head and shoulders pattern is a reliable indicator of a potential trend reversal. In this case, the pattern suggests a bearish reversal: - **Left Shoulder:** The initial peak before the highest peak (head). - **Head:** The highest peak in the pattern. - **Right Shoulder:** The lower peak after the highest peak (head). The neckline, drawn at the lowest point between the shoulders, acts as a critical support level. A confirmed breakdown below this neckline indicates a strong sell signal. ** Fibonacci Retracement Levels: ** Fibonacci retracement levels help identify potential support and resistance levels where the price might react: - **0.00% at approximately 26,200.00 INR** - **23.60% at approximately 25,600.00 INR** - **38.20% at approximately 25,400.00 INR** - **50.00% at approximately 25,000.00 INR** - **61.80% at approximately 24,600.00 INR** - **78.60% at approximately 24,200.00 INR** - **100.00% at approximately 23,800.00 INR** ** Price Prediction:* * Given the head and shoulders pattern, the Nifty 50 Index is likely to experience a downward trend if the price breaks below the neckline. The Fibonacci retracement levels provide additional support levels where the price might stall or reverse. Traders should watch for key levels such as 25,000.00 INR and 24,600.00 INR. ** Conclusion :** Combining the head and shoulders pattern with Fibonacci retracement levels offers a comprehensive approach to predicting price movements in the Nifty 50 Index. Traders can use these tools to make informed decisions and manage their trades effectively. Proper risk management and position sizing are essential to maximize profits and minimize losses.
NSE:NIFTYShort
by stocktechbot
Is the ape still alive?Long position: There is no special explanation for Long, we just have to consider that we are correcting our big trend📈 Because of this, the drop in volume has decreased We can take a long position by breaking the channel from above And the long position is a little safer, high resistance 1.18 Short position: If it loses the support of 1.013, it can go to the bottom of the channel📉 Also, there is another support space there, so it increases the probability of reaction at that point 😉The important point is that long shadow that I drew a circle around, it actually shows the strength of that area If you want me to analyze a coin, tell me in the comment🫡 ⚠️ Do capital management to survive ⚠️
by parsa_xa
AUD/JPY continue with the UptrendOn AUD/JPY , it's nice to see a strong buying reaction at the price of 100.610. There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again. GAP + Uptrend and high volume cluster are the main reasons for my decision to go long on this trade. Happy trading Dale
by Trader_Dale
Trading ICICI Bank Ltd. Using Fibonacci Channels ** Introduction :** As a Fibonacci channel trader, identifying strong resistance and support levels is crucial for making informed trading decisions. The chart for ICICI Bank Ltd. on the NSE provides a clear illustration of these levels, helping traders predict potential price movements and plan their trades accordingly. ** Strong Resistance and Support Levels: ** The Fibonacci channels on the chart highlight several key levels: - ** Support Levels :** - 0.236 (966.75 INR) - 0.382 (998.35 INR) - 0.5 (1,023.90 INR) - 0.618 (1,049.45 INR) - 0.786 (1,085.85 INR) - 1 (1,132.20 INR) - ** Resistance Levels :** - 1.618 (1,266.05 INR) Currently, the price is at 1,299.40 INR, which is above the 1.618 Fibonacci level, indicating a strong bullish trend. The next resistance level to watch is around 1,360.00 INR, as indicated by the upper blue channel line. ** Prediction as a Fibonacci Channel Expert :** Given the current bullish momentum, the price is likely to test the next resistance level around 1,360.00 INR. However, if the price retraces, it may find support at the 1.618 level (1,266.05 INR) or lower Fibonacci levels. ** Trade Type and Position Sizing: ** This trade can be classified as a trend-following trade, capitalizing on the ongoing bullish momentum. To calculate position sizing, use the formula: Where: - **Account Risk** is the percentage of the account you are willing to risk (e.g., 2%). - **Trade Risk** is the difference between the entry price and the stop-loss price. For example, if you enter at 1,299.40 INR with a stop-loss at 1,266.05 INR, the trade risk is 33.35 INR. ** Potential Entry :** A potential entry point could be at the current price of 1,299.40 INR, with a stop-loss at the 1.618 level (1,266.05 INR) to manage risk. ** Personality Fit for This Trading :** This trading strategy suits individuals who are patient, disciplined, and have a good understanding of technical analysis. It requires the ability to follow trends and make decisions based on chart patterns and Fibonacci levels. ** Conclusion :** By identifying strong resistance and support levels using Fibonacci channels, traders can make informed decisions and manage their trades effectively. The current bullish trend in ICICI Bank Ltd. presents an opportunity for trend-following traders to capitalize on potential price movements. Proper position sizing and risk management are essential to derive profitable outcomes while minimizing losses.
NSE:ICICIBANK
by stocktechbot
X Empire(X) can PUMP[+10%_+20%_30%]Today, I want to analyze the telegram game token X Empire , which has been listed in various exchanges for about 1 day , so that if you participate in the Airdrop of this telegram game , where you can sell your tokens or even profit from the increase in the price of the token X . X token ( OKX:XUSDT ) has managed to break the Downtrend line . I expect X Empire(X) to rise again after the pullback to the Downtrend line and attack the resistance zone , and if the resistance zone is broken, we should expect it to rise to $0.000084 & $0.000091 . ⚠️Note: Because there is not much data on token X, be sure to observe capital management in this position more than before.⚠️ ⚠️ Note: If you have the X token and want to sell, the resistance zone can be a suitable zone, or if the support zone breaks, it is better to sell this token because it is more likely to fall. ⚠️ 🔔Be sure to follow the updated ideas.🔔 X Empire Analyze ( XUSDT), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
4
More details for solBefore reading this text, please read the previous post👨‍💻 Fallout symptoms:📉 One of our most important signs 1. Volume reduction It is true that Saturday and Sunday volume will decrease, but I am considering it 2. The last time we hit this resistance, we had a nice fall 3. We can see compression Signs of price increase:📈 1.Our big cycles are upward I could not see any other sign That's why I know the possibility of falling more😉 ⚠️ Do capital management to survive ⚠️
Short
by parsa_xa
10
Technical Analysis of Coca-Cola (KO)The stock ( KO ) is currently in a retracement phase from its all-time highs reached in September 2024, having momentarily paused at previous relative highs. Given Coca-Cola’s long-term uptrend, we can identify several key support levels where the retracement may halt and resume its upward trajectory: SUP 1 : The first support area could be the current level, marked as SUP 1. SUP 2 : The second area is around $64, labeled as SUP 2. Analyzing the Volume Profile, we notice significantly higher volume levels here. POC : Just below SUP 2, we find the POC (Point of Control) area in the Volume Profile, located around $60. SUP 3 : Another support level, marked as SUP 3, is around $57. In the worst-case scenario, a drop down to SUP 3 would represent a drawdown of around 20%. Historically, Coca-Cola has seen similar drawdowns of 15%-20% and even as much as 40% at times. The final potential support area is between $54-$53, corresponding to a secondary peak in the Volume Profile and an area where the stock has previously found resistance. This scenario would reflect a drawdown of about 30% An additional note: the SUP 2 and POC levels align precisely with the 0.382 and 0.618 levels of the Fibonacci Retracement indicator.
NYSE:KOLong
by Giovanni_Bandini