Nifty has been moving in tight range for some time now. It's time to book profit. 50 DMA is in up trend and green. Sentimental RSI just started to move to red. Trend is still bullish, but momentum has come down this is good time to book profit.
Be neutral don't go long or short on nifty.
Happy Investing !!
setup cup and handle
Upcoming Earnings Jun 05, 2019 (EST)
Horizontal S&R: yes $87
Channel S&R: yes rising trendline
>20 & 50MA S&R: yes bounced 50ma but never really closed below it
>200MA: yes clear up trend
Volume confirmation: no yes
Candle Confirmation: yes yes. gapped down on earning and finished strong
Stoch Divergence: yes turning up
Price is in between the 50 sma and the 100 sma
If price drops below the 50 sma in less than 8 bars
Then Sell Stop @124.49
Sell Take Profit @ 124.00
If Price stays above the 50 sma for over 10 bars
Then Buy Stop @ 124.95
Buy Take Profit @ 125.30
SL 20 pips below or above 50 sma
depending of a sell or buy
Watch Macd for direction
Price is in a range between the 50 and 100 sma
Trades will be breakouts from those ma lines
Buy Stop @ 4004.5
1st Buyy Take Profit @ 4258.5
2nd Buy Take Profit @ 4384.
Sell Stop @ 3844.7
1st Sell Take Profit @ 3747.7
2nd Sell Take Profit @ 3640.
Price broke out of range but failed.
Price stretched from ma's and returning
Macd stretched away from zero line and returning
Buy Stop @ 1.1315
Buy Take Profit @ 1.1366
SL below breakout candle back into range
Price is between 50 sma and 100 sma
Price below 50 sma so bearish bias
If price breaks above 50 sma again
Buy Stop @ 143.20
1st Buy Take Profit @ 143.60
2nd Buy Take Profit @ 144.60
If price stays below 50 sma
Sell Limit @ 142.90
Sell Stop @ 142.20
Sell Take Profit 141.40
Watch Macd for direction
Find a SL
I don't particularly think the CAT, WHR and NVDA results bear well for the market nor the economy in general and JPM is probably one of the biggest proxy out there. Recent price action has stalled at the 50-days moving average and a "support-turned-resistance" level; I personally do like buy/short breakouts/downs which had retested prior...
WHY BEARISH BIAS TRADE
Price had two failed breakout attempts of the 800 sma
A 3rd failed breakout attempt of the 800 sma was a news related event
Macd is below zero and Red signal lines
News related spike bullish candle low is support level to breakout @ .71725
Price should close below 50 sma
1st Sell Entry @ .71725
2nd Sell Entry is bearish...
Price is above 100 sma
Price could continue up to the 50 sma
Price usually moves sideways awhile when in-between 100 and 50 sma
Price may breakout above 50 sma and retest range top
Enter bullish breakout on a 15m chart with a break-hook-go candle pattern
Price could fail above 100 sma and cross below it again
Sell Stop @ 1.6725
Sell Take Profit @ 1.6690
Apply these SMA Indicators on your chart - 50 - 100 - 200
Step #1: Wait for the 50-day EMA to cross below the 100-day EMA. The two moving averages also need to converge with the price action.
If we get the crossover of the 50-day MA (blue line) and 100-day MA (orange line) at the same time the price is testing those moving averages, that’s the best-case situation...
Start scanning your trading pairs on 4h after the beginning of the new Monday Trading session
Setup chart with 50 sma & 100 sma
Setup chart with a Macd default setting of 12-26-9
Find a Macd indicator that shows zero line like TV - Indicators - Public Library - Macd Crossover
Trade Setup 4H
When Macd Blue like crosses over Zero line (above is buy signal - below...
Today's news events are NFP & Fed Powell speaking
Fractal Highs and Lows have been created by price
Price above 50 sma so Bullish bias trades
Macd above Zero line so Bullish bias trades
Breakout of fractal highs will be trade bias
1st and 2nd fractal high breakout trades have been entered
Take Profit will be 800 sma line
Adjusted SL at previous low point