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EURJPY Potential BEARISH SetupEURJPY Bearish Setup Breakout Analysis: Distribution pattern with breakdown below key support suggests downside acceleration/momentum. Strategy Framework: Since the forecast calls for more downside momentum we can anticipate a corrective move towards BOS. The zone between BOS and Resistance Zone give us our POI, where we should be looking for shorts to ride the downside wave towards our targets. Technical Analysis: - Breakdown Level: - Entry Strategy: Looking for Shorts at confirmed BOS level - Stop Loss: Above Resistance zone. Target Zones: - Primary Target: 1 (R:R 1:2) - Secondary Target: 2 (R:R 1:3) - Extension Target: 3 (R:R 1:4) Bearish Confirmations: 🔻 Rejection candlestick patterns 🔻 Bearish Reversal patterns 🔻 Impulsive moves in line with setups directional bias IDEA INVALIDATION: - BULLISH momentum above Resistance Zone Position Management: - Exit: Partial profits at targets - Stop adjustment: Trail below resistance LIKE or COMMENT if this idea sparks your interest, or share your thoughts below! FOLLOW to keep up with fresh ideas. Tidypips: "Keep It Clean, Trade Mean!"
Short
by Tidypips
Nifty50 Intraday Levels TradePlan Analysis Aug 08Black Line zones - Resistances R1 - 19617-19639 R2 - 19723-19795 R3 - 19805-19822 R4 - 19842-19876 Green line zones - Demand S1 - 19593-19574 S2 - 19555-19510 S3 - 19595-19462 S4 - 19350-19295 Analysis:- Nifty is in a process of forming a retracement , Lower High for the Downtrend formed. But if it moves strong above 19684-19733 which is the 78.6% to 88.6% retracement levels of the previous major swing, which also coincides with the Gap supply zone and out of the falling channel that has formed, then there are high probabilities that the market trend would change to uptrend. Trade Plan:- If the Market opens flat, 1) Would look for any rejection at the Trendline and initiate shorts till the demand levels such as today's day low, Friday's day low based on price action and setup confirmation. 2) Can also look for reversal trades at the demand zones marked post consolidation beyond 10:15 AM. 3) One can initiate longs if the trendline breakout happens post-consolidation beyond 60-75 minutes of market opening. If the Market opens gap up, 1) Will look to short the market at the mentioned supply zones and run till the gap filling happens or till the Trendline support or the marked demand zones based on Technical setup confirmations. 2) One can initiate longs if the trendline breakout happens post-consolidation beyond 60-75 minutes of market opening. 3) Can go long once the gap filling is complete based on Technical setups. If the Market opens gap down, 1) Will go short if today's or Friday's low is broken. 2) Will go long if gap is at demand levels marked with CONSOLIDATION and setup confirmation. Would look to run till Trendline/Gap resistances. Happy trading! Please do comment for suggestions. Please do check for Demand zones below 19200.
NSE:NIFTY
by Rugminik