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Mid Week Analyses 22/10/24 Welcome Traders, Price has continued to consolidate within a range 20,524-20,063 for almost 2 weeks. Following the 23H HL signalled at 20,063.6, price has now retested the previous 23H HH thereby signalling a new 23H LH. Since the 23H LH has now been signalled at 20,476.7, every timeframe from the Daily down, is at their highest point. As previously mentioned, the Daily TF still at a High and is in need of its HL to resume the uptrend of HH HL. One important thing to note is the time taken for the 23H TF to signal its respective HL and now LH. The 23H HL was signalled in only 2 days while it took 5 days for the 23H LH to be signalled. Furthermore, it took 6 bullish candles to recover one bearish candle which signalled the HL.This is important to pay attention to because retracements are usually marked by extended periods of consolidation with low volume. Signs of buyer exhaustion are often indicated by small bodied bullish candles. The 23H is LH is back at a resistance level where price previously retraced. This resistance level is indicated by the red zone. So it is possible for price to form a double top pattern and begin its retracement. Once price breaks the 23H HL at 20,063.6, the daily HL will signal. Trading Plan: 1. I am only entering a swing buy position which can only be achieved by buying at the lowest price. Whereas the market may present short term opportunities, I am continuing to exercise patience waiting for a deeper retracement signalling the Daily HL. 2. Once the price retraces on the Daily TF, this will present a swing buy opportunity for me to enter. 3. Even if price continues bullish to break ATHs first, I will not enter the trade trying to chase the highs. Price must eventually retrace to signal a Daily HL and so it is just a matter of when.
OANDA:NAS100USD
by jhannellefrancis
what structures are saying for the dollarplease Traders speak your mind and tell me how you see it. As a wave trader what the structure is showing me is that it has a full 5 wave corrective upwards and even there are signs of change of trend and clear 1-2 waves which I expect to be 5 wave structure before bigger correction, and for example are the ghosts candle patterns which are copies of the white line structures. It doesn't necessarily need to look alike but clearly change in trends are on the way. And as this is weekly chart so this might take time.
TVC:DXYShort
by sharing_is_caring
Dollar / DXY AnalysisOn the weekly chart, we can see that the Dollar is aiming to capture liquidity in the zones above. We also see that the Dollar is in consolidation on the weekly chart. On the daily chart, the Dollar is strongly bullish, which indicates to me that it will continue its bullish movement. What happened today is a pullback, which I mentioned in yesterday's analysis, followed by a continuation of the bullish trend. Tomorrow, we have news throughout the day that will affect the Dollar, so I will most likely take a break and observe what the price does during the day. We also have news for the EUR, which is not of great importance, and GBP news that may push the price in a certain direction. On the hourly charts, the Dollar continues with its bullish structure.
TVC:DXY
by andricstrahinja95
Very weak candle more pain may be in store for Nifty. Today we saw a confirmation of a pattern similar to head and shoulders pattern. The pattern is not exactly the classic head and shoulder but it is similar which can yield similar break down results meaning more pain might be in store if next 2 support levels are broken. The low of August 5 that is 24055 will be vital zone for Nifty to take support and make a comeback. There are 2 weak supports before we reach that level. These supports are near support previous to that at 24407 and 24113. If by chance 24055 is broken the next support is there near 23811 followed by 200 days EMA (Father line) at 23428. Below this level there is pure bear territory as this chart is drawn on daily candle sticks. On the upper side the resistances that Nifty will now face are at 24711 (Strong resistance along with a trend line resistance). If this resistance will be crossed the next resistance is at 24879. By chance we get a closing above this level Mid channel resistance and Mother line resistance of 50 days EMA awaits us near 24995 and 25231 respectively. The Macros of Israel Vs Iran++, US Elections and China stimulus are the major factors affecting FII outflow. Indian Growth story remains intact sectoral churning near the bottom is a real possibility. Overbought sectors of Defense and PSU in addition to some Mid and Small caps are taking most of the beating. At some point their PE will become attractive and at some point their dividend yield will also attract investors. whether that point has arrived or will arrive soon is yet to be known. There are no signals of bottom formation as of now and Shadow of the candle remains negative.
NSE:NIFTY
by Happy_Candles_Investment
1
Dow Jones - There Is A Lot More Upside!Dow Jones ( TVC:DJI ) is just starting the next bullish impulse: Click chart above to see the detailed analysis👆🏻 The Dow Jones is anything but bearish and over the past couple of months, value stocks in general have actually been outperforming growth stocks significantly. I do expect all time highs on basically all major indices and the Dow Jones might even head for the $50.000 mark next. Levels to watch: $50.000, $35.000 Keep your long term vision, Philip (BasicTrading)
TVC:DJILong
by basictradingtv
12
The Stock Market Tends To Crash Around October —Historical Trend➖ In 1929, the stock market started a major decline around October. ➖ In 1973, the stock market peaked in January and produced a lower high in October and then a major crash. ➖ In 1987, the stock market crashed in October ➖ In the year 2000, the major decline started right around October. ➖ In 2007 the stock market peaked and a major crash happened in October 2008. What's up with October? The S&P 500 Index is now trading at All-Time Highs. Volume has been dropping since March 2009. It is now October 2024 and the world is at war... Forever higher or market crash? Imagine, can it top in October 2024 and then a crash in October 2025? Based on past history, there are many potential variations for a bearish scenario. Namaste.
SP:SPXShort
by AlanSantana
WHY I THINK DOLLARS ARE IN DEMAND...ITS GOOD BUSINESS.The Case for Dollar Strength Amid Margin Compression The relationship between U.S. Treasury yields and the U.S. Dollar Index (DXY) continues to draw attention, particularly as we observe a divergence between 10-year yields and the DXY. With the 10-year yields showing signs of a sell-off, the dollar has managed to surge, reflecting broader market sentiment favoring the dollar as a safe haven. Margin Compression and Its Implications Margin compression refers to the reduction of profit margins, often due to rising costs or increased competition. In the context of financial markets, when profit margins tighten, investors tend to seek safe assets to protect their capital. The behavior signals caution, leading to a flight towards more stable currencies like the U.S. dollar. The observed margin compression across various sectors could indicate heightened demand for dollar-denominated assets. This trend is consistent with the movement in the DXY, which has seen a sharp uptick, possibly fueled by global investors buying into the dollar to hedge against market volatility and declining yields. 10-Year Yield Dynamics and Dollar Demand The graphical comparison of the 10-year U.S. Treasury yields against the DXY reveals an interesting narrative. As yields show signs of a sell-off, typically indicating lower confidence in growth or inflation outlooks, the dollar has strengthened. This inverse relationship can be attributed to investors shifting capital into the U.S. dollar as a safety net amid broader economic concerns. Essentially, when there is less faith in long-term yields, the appeal of holding dollars rises. What This Means for Future Dollar Movements Given the current landscape, where margin compression is forcing businesses and investors to tighten their strategies, there is a potential for continued buying pressure on the dollar. The DXY's consistent rise suggests that the dollar could maintain its upward trajectory, especially if the U.S. economy continues to outperform its global peers or if there is increased economic uncertainty worldwide. In conclusion, margin compression, often underappreciated, is proving to be a critical indicator of where capital flows are heading. As long as investors remain cautious and seek stability, the dollar is likely to remain strong. Keep an eye on these dynamics, as they could play a significant role in guiding trading strategies in the weeks to come.
TVC:DXY
by moneymagnateash
BANKNIFTY : Trading levels and Plan for 23-Oct-2024Bank Nifty Trading Plan for 23rd October 2024 In the previous session, Bank Nifty experienced a volatile session, testing key resistance near 52,250 Prices declined drastically as mentioned in yesterday's trading plan. This range highlights a crucial “No Trade Zone” where price consolidation has been observed. As the market prepares for the 23rd October session, it's important to focus on key levels such as 51,786 for trend change and 50,817 as buyer’s support, as these areas will determine the next major move. Gap-Up Opening (200+ Points): If Bank Nifty opens above the resistance zone of 51,786, look for price action confirmation before entering a long trade. A breakout above 51,786 may lead to a rally towards the 52,363 zone, but keep in mind that this is a significant resistance area. Any rejection here could lead to a quick retracement. Place a stop-loss just below 51,786 to manage risk and prevent getting trapped in a false breakout. If Bank Nifty fails to hold above 51,786 after a gap-up, expect a reversal back into the “No Trade Zone” near 51,382, where price may consolidate. Flat Opening: A flat opening near the 51,271 level suggests consolidation in the "No Trade Zone" between 51,382 and 51,124. Avoid taking trades unless there’s a clear breakout or breakdown from this zone. If Bank Nifty breaks above 51,382, watch for momentum to push prices towards 51,786. A sustained move above 51,786 can signal trend continuation to the upside. If the index breaks below 51,124, it opens up downside potential towards 50,817, where buyers might step in to defend. Maintain a stop-loss below 51,124 for long positions and above 51,382 for shorts to manage risk in this consolidation area. Gap-Down Opening (200+ Points): If Bank Nifty opens with a gap-down below the 51,124 level, selling pressure may intensify towards the support level at 50,817. A bounce from 50,817 could present an opportunity for a long trade, but wait for a clear reversal signal to avoid getting caught in further downside. If Bank Nifty breaks below 50,817, the next support is at 50,517, which is a crucial level for bulls to defend. Failure to hold this level may result in further selling towards 50,000. Place a stop-loss below 50,817 for any long trades and consider shorting if this level is breached. Risk Management Tips for Options Trading: For gap-up scenarios, use call spreads to limit risk as Bank Nifty approaches resistance zones like 51,786 and 52,363. In case of a gap-down, consider buying put options or using put spreads to capitalize on increased volatility towards support levels like 50,817 and 50,517. Avoid trading naked options positions, especially near key support/resistance zones, as rapid moves in either direction could lead to significant losses. Use stop-losses diligently when trading options, and consider using straddles or strangles in high-volatility conditions to capture both sides of the market. Summary & Conclusion: For 23rd October 2024, the critical levels to watch are the resistance at 51,786 and support at 50,817. A gap-up may lead to a test of 52,363, while a gap-down could bring Bank Nifty towards 50,517. Be cautious within the “No Trade Zone” (51,382 - 51,124) as price may consolidate here before the next major move. In options trading, use spread strategies to manage risk and capture gains during volatile conditions. Disclaimer: I am not a SEBI registered analyst. This trading plan is based on my personal analysis using technical parameters. Traders are advised to conduct their own research or consult with a financial advisor before making any trading decisions.
NSE:BANKNIFTY
by LiveTradingBox
BANKNIFTY Short Entry – BIG Targets Await!We’ve entered a short trade on BANKNIFTY based on a clear bearish signal at 51733.25. The setup looks strong, and we're now awaiting the targets to hit. Key Levels Entry: 51733.25 – Initiated as bearish momentum took hold. Stop-Loss (SL): 52155.40 – Positioned above the entry to manage risk. Take Profit 1 (TP1): 51211.50 – First target expected to be reached soon. Take Profit 2 (TP2): 50367.25 – Next key level to watch. Take Profit 3 (TP3): 49523.00 – Anticipating continued selling pressure to hit this target. Take Profit 4 (TP4): 49001.25 – The ultimate target in this short trade. Trend Analysis The price is moving decisively below the Risological Dotted Trendline, confirming a strong downtrend. All indicators suggest that the targets are within reach as selling pressure builds. This is going to be a high profit trade if it works out as per the chart. But, let's be ready for rude surprises and have the trailing stop at 51,748 in worst case scenario.
NSE:BANKNIFTYShort
by ProfitsNinja
NIFTY : Trading Levels and Plan for 23-Oct-2024Nifty Trading Plan for 23rd October 2024 In the previous session, Nifty traded Sharply Downtrend, testing resistance at metioned levels yesterday . The market showed volatility but remained largely Bearish trend. This setup hints at a possible breakout from the current consolidation zone, with key levels to watch for both bulls and bears as the market opens on 23rd October. Gap-Up Opening (100+ Points): If Nifty opens above the 24,630 resistance, wait for confirmation of a breakout toward the next key resistance zone at 24,714. Once the price holds above 24,714, a long position can be considered with an upside target of 24,936, where strong selling pressure might emerge. Set a stop-loss below 24,630 for long trades to manage risk effectively, especially if Nifty reverses after hitting 24,714. If the breakout is false, expect a retracement back to 24,630 or even lower toward 24,555. Flat Opening: If the market opens flat near the current levels of 24,481, the immediate range to watch is 24,555 to 24,358. A breakout above 24,555 could trigger a move toward the 24,630 resistance level, where price action should be monitored for continuation or reversal. On the downside, a breakdown below 24,358 may lead to retesting the 24,298 support level, with potential to go even lower toward 24,164 if selling pressure intensifies. Place stop-losses below 24,358 for long trades, and above 24,555 for shorts to protect against sudden reversals. Gap-Down Opening (100+ Points): If Nifty opens with a gap-down below 24,358, expect increased selling pressure, with the immediate target being the 24,298 support level. If 24,298 holds as support, a reversal trade could be initiated, but it is crucial to wait for a confirmed bounce before entering long positions. If the gap-down results in a break below 24,298, watch for further declines toward the 24,164 support, where buyers may try to defend. Maintain a stop-loss below 24,298 for longs and above 24,358 for short trades to manage risk in case of sharp movements. Risk Management Tips for Options Trading: For a gap-up scenario, consider using call spreads to limit risk as Nifty approaches key resistance zones like 24,714 and 24,936. In case of a gap-down, consider put spreads or long puts to capitalize on increased downside volatility. Avoid holding naked positions, especially near high-volatility areas. Opt for limited-risk strategies like iron condors or vertical spreads to minimize losses. Be prepared to exit quickly if Nifty approaches key support or resistance zones, as sudden reversals can cause options premiums to decay rapidly. Summary & Conclusion: For 23rd October 2024, the key levels to watch are the resistance at 24,630 and support at 24,358. A gap-up could see a move toward 24,714 and 24,936, while a gap-down may bring Nifty closer to 24,298 and 24,164. Volatility is expected around these levels, and it is crucial to maintain strict stop-losses to minimize risk. In options trading, consider spread strategies to manage volatility and protect against sudden reversals. Disclaimer: I am not a SEBI registered analyst. This trading plan is based on my personal analysis using technical parameters. Traders are advised to conduct their own research or consult with a financial advisor before making any trading decisions.
NSE:NIFTY
by LiveTradingBox