Downtrend on nifty tracking this 30m channel in nifty, its been acting as interesting support & resistance on both sides
waiting for a clean break
Market indices
Dow Jones 30-Minute Trade Targeting Key Liquidity ZoneCurrently, this 30-minute Dow Jones (US30) trade is focused on reaching the liquidity zone around 42,840. The price is trading near previous highs, and a fast move is anticipated from this level. Maintaining a strategic approach, we are closely monitoring this zone to confirm whether a breakout will occur or if the market will reject this liquidity level.
Technicals:
• The market has been ranging near previous highs, indicating a possible buildup of orders around this level.
• The price has shown consistent interaction with the FibCloud, suggesting institutional involvement.
• Current market structure points towards a possible bullish move if the liquidity zone is tapped, followed by a rapid price shift to the upside.
• A key resistance zone lies around 42,840, which will be the short-term target for this trade. If broken, this could lead to higher momentum.
Fundamentals:
• The market remains sensitive to macroeconomic factors such as interest rate updates and geopolitical tensions.
• Positive market sentiment has been bolstered by potential stimulus measures from both the US and international economic policies.
• The US Federal Reserve’s rate hike discussions and global monetary easing are contributing to volatility, impacting the broader market.
• Investor focus remains on earnings season reports and data releases such as the upcoming US jobless claims and inflation figures, which could shift market dynamics quickly.
This setup is poised for a quick move, depending on whether liquidity is tapped, leading to a potential sharp reaction.
Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
SPX at Great Depression and Dot-Com Crash LevelsCurrent deviation from long term mathematical model at the top of trend only reached twice in the last 100 years; once during the Great Depression and once during the top of the Dot-Com bubble.
Mathematical model = Ratio of Close to smoothed 300 Week SMA (SMA 10 of SMA 10 of SMA 70 Week Close)
SENSEX S/R for 24/10/24Support and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory.
Combining RSI with Support and Resistance:
Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal.
Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset.
BANK NIFTY S/R for 24/10/24Support and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory.
Combining RSI with Support and Resistance:
Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal.
Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset.
NIFTY S/R for 24/10/24Support and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory.
Combining RSI with Support and Resistance:
Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal.
Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset.
US100 Bearish Bias with Potential Support Test at 20135Prior to the sell-off, there was some consolidation followed by attempts to move higher. However, the price failed to maintain upward momentum, leading to the current breakdown.
The current price action is strongly bearish, and the support at 20135 will be crucial for the next move. A break below this level could extend the bearish trend, while a bounce could lead to a short-term recovery.
Another day another weak show by Nifty. Nifty again could not sustain the highs of the day and ended up in the negative. Nifty on an hourly chart is spiralling downwards in a downward parallel channel. Every bounce even if it is a small one is seen as an opportunity to sell specially by the FIIs. Even today the signs or signals for bottom formation are not visible.
To know more about a parallel channel do read my book the Happy Candles Way to Wealth Creation available on Amazon in paperback and Kindle version.
One thing is for sure upward curve also starts out of nowhere just like the downward slide started out of nowhere so there is no need to sweat about it as the Macros for India remain healthy. Dollar index gaining more and more strength is a sign of concern however. Once the Dollar starts to relent we will see a better performance from many sectors. RSI of Dollar index is just starting to touch the overbought zone.
Nifty supports remain at 24370, 24149, 23806 and finally 23111.
Resistance levels for Nifty remain at 24592, 24757 and 25069 levels.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
US30 Bearish confirmedBearish Bias, Watch for Key Support at 42,469
The market is currently in a bearish phase with strong selling pressure. Immediate support lies around 42,469 - 42,500, and a break below this could lead to further downside.
A reversal could only occur if the price holds this support zone and gains bullish momentum with a move back above 43,037.
NASDAQ LONG Looking for continuation setup. Going to LTF to look for longs in the selected poi with my target being 20477.3
Bulls and Bears zone for 10-23-2024S&P 500 has been range bound last several days.
Any test of yesterday's Close could provide direction for the day.
Level to watch: 5870 ---5872
Reports to watch:
US Existing Home Sales 10:00 AM ET
US Beige Book 2:00 PM ET
Stock market still in expansion phaseStepping back to longer timeframes, it's often easier to see the forest from the trees. It's easier to see patterns. For instance, you can see the rising RSI pattern that follows a long time-frame bull run. When the market starts substantial pullbacks, it breaks that trend to the downside and starts a new trend. That switch results in a recession and a longer timeframe cooling of the market. Currently, it seems we have not reached that point. That is not to say we could not quickly fall into that pattern, but understanding where we are at in a cycle is as import as the decisions we make when the market changes.
DXY short term topexpect a short term correction on the dollar, playing the euro on the long side now is a high probability trade will be buying down to 1.074 and take profit when the dxy reach 103.5
S&P500 Index -Liquidity Zone consolidationTechnical Analysis:
The price is currently trading within a liquidity zone between 5,849 and 5,891, showing consolidation. A retest of this liquidity zone is likely, with a potential rejection if the price fails to break above 5,891.
If the price breaks and holds above the 5,891 level, the next target would be the resistance line at around 5,939.
On the downside, a rejection from the liquidity zone could send the price back down towards the support line near 5,825 or even further towards 5,781.
Correct Direction:
Bearish: If the price fails to break above 5,891 and the liquidity zone holds as resistance, the price is likely to move towards 5,825 or lower.
Bullish: If the price breaks and closes above 5,891, a bullish continuation towards 5,939 is expected.
The overall bias is bearish unless there is a confirmed breakout above the liquidity zone.
Key Levels:
Pivot Point: 5863
Resistance Levels: 5891, 5915, 5939
Support Levels: 5836, 5807, 5781
Trend Outlook:
Bearish below 5863
Bullish above 5891
Nifty likely to touch 24850 tomorrow.. Last week.. friday to till date nifty have aggressively broke its previous lows.. But currently it trades outside its value area and hoping to touch its VPOC earliest.. in addition to there is bullish divergence and double bottom at base.. trigger will be when it starts trading above 20 ema in 30 min chart i.e. above middle band in bollinger band..
DXY SELL OFF INBOUNDThe last twice DXY pushed through closed above and failed to stay above the downwards trend.
Dxy is now at the Downwards trend again.
Forecasting The same as the last two attempts with a major DXY sell off
Dollar Index Bullish to $109! (UPDATE)The Dollar has been pumping like crazy since last night. If you look at the right hand chart of the 8H TF, the DXY is up 400 PIPS today alone!
Our $109 target might come sooner than I expected if this bullish momentum carries on.
US30 Possibly bearish If the price consolidates above 43,150, it could move toward the 43,900 range. However, if it drops below 42,700, we might see a retracement toward lower support levels.
My personal bias is bearish from the resistance
DXY: Local Correction Ahead! Sell!
Welcome to our daily DXY prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 104.308
Wish you good luck in trading to you all!
NAS100 - UPDATE FOR MARKET OPEN SOON IN 2 HOURSTeam, please refer to the shorting price range, stop loss and target
We are preparing for the NAS100 in 2-3 hours.
We are planning to short at 20428-35 - with STOP LOSS at 20485 (from previous 20460)
Target 1 at 20383-76
Target 2 at 20334-26
Target 3 at 20257-45
PLEASE NOTE: We prefer to short the position. Long can be a little risky.
Please be patience for the price movement.
Once it hit our first target, please take some partials and trail stop loss to BE.
DAX Breaks Pivot: Bearish Momentum Targets Lower SupportDAX Technical Analysis:
the price has dropped below the pivot line of 19,489.2, showing signs of a bearish momentum. This break suggests potential weakness, especially after the price failed to maintain support in the highlighted zone near 19,400.
The bearish outlook remains intact as long as the price stays below the pivot and 19,400 area, suggesting that a move toward the lower support lines is probable in the short term.
Key Levels:
Pivot Point: 19400
Resistance Levels: 19490, 19565, 19660
Support Levels: 19270, 19110, 18970
Trend:
- Consolidation 19400 and 19270
- Bearish below 19400
- Bullish above 19490
BANKNIFTY to 48300 in 2024?This chart on the Bank Nifty 2-hour timeframe tells a story of critical support and resistance levels. After breaking down from the rising channel and falling below the 50-period SMA, the index has shown weakness, retesting the channel and getting rejected near key moving averages. Bullish sentiment remains in check, with potential recovery only if the price can break above 51,600, which aligns with the 20-period and 50-period SMAs, as well as the 0.236 Fibonacci retracement level. However, as of now, the rejection suggests downside risk.
The immediate support stands around 51,212, with a potential downside to 50,194 and even further into the 48,900 zone if the selling pressure persists. A clear bear flag formation on the higher timeframes adds weight to the bearish outlook.
Traders should watch these levels closely, with 51,600 being the crucial point for a bullish reversal. The current market structure indicates a probable correction phase unless bulls regain control above that resistance level. Keep a close eye on volume spikes for confirmation!
BoC Rates Decision Pending22nd October
DXY: Currently at 104.30, expecting further upside, needs to break 104.45 to trade up to 104.80.
NZDUSD: Sell 0.6015 SL 20 TP 40
AUDUSD: Sell 0.6635 SL 20 TP 65
GBPUSD: Sell 1.2950 SL 40 TP 130 (Hesitation at 1.2880)
EURUSD: Sell 1.0760 SL 30 TP 80
USDJPY: Buy 152.70 SL 30 TP 130 (hesitation at 61.8% 153.30)
USDCHF: Buy 0.8710 SL 15 TP 40
USDCAD: Buy 1.3860 SL 20 TP 60 or (counter trend) Sell 1.3920 or 1.3820 (need to hear hawkish BoC)
Gold: Buy on retracement, or scalp up to 2760 and 2768
