I have observed a clear bullish signal on the USDCAD chart following a successful test of an important support level. The price has created an ascending triangle pattern on the 4-hour chart and has broken above its neckline. I anticipate that the price will soon reach levels of 1.3739 and 1.3800.
On the above 2 month chart price action has enjoyed a 340% rally from the $7 lows of 2016. A number of reasons now exist to take a bearish outlook. 1) Broken market structure printed in 2013. Confirmation of broken structure printed recently in March 2022 (yellow arrow). 2) Trend reversal. Lower high replaces higher high. 3) The rising flag pattern is...
Gold fell back from around 2330 today and is currently oscillating within a narrow range around the 2312-2315 area. In fact, it is still quite difficult to trade gold today. It is relatively ideal to participate in shorting gold near the 2330 position, but we cannot aggressively chase short gold during the decline. Therefore, if we did not short gold near the 2330...
Current Situation: GRT faced rejection yesterday and is now testing the next support area, presenting a potential buy opportunity. Trade Setup: Entry: Long spot trade at $0.2825. Take Profit: Target $0.3050 - $0.3200 and next resistance area at $0.35 - $0.3625. Stop Loss: Just below $0.2750 to manage risk. 📊🚀 Stay attentive to GRT's price action for trade...
Deal Colleagues, FX:AUDUSD price have rejected at the rejected counter of times in 3 days timeframe. It shows sellers will be positioning in coming days. While we also expecting USD to become extremely bullish in coming days. While AUD expected to remain bearish. Remember to use proper risk management.
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
The price of DOGE surpassed the dynamic resistance in the 4-hour time frame and reached the resistance range of $0.1721-$0.1654, but was unable to break through and subsequently dropped back to the dynamic resistance. It is expected that the price will increase once more, with the initial goal being to surpass the resistance level, potentially leading to a rise...
NSE:CIPLA Day TF Healthy Hammer candle formed in day 15 Min TF Price is under consolidation which is very good sign for further movement Price has rejected from support level. Price has reacted well with 200 EMA & 50 EMA today. Good Recovery after 10 AM Buy: Risky trader: Buy at 1428. Target 1% Direct Gap-up entry should be avoided Get confirmation...
📊 Script: DEEPAKNTR 📊 Sector: Chemicals 📊 Industry: Chemicals Key highlights: 💡⚡ 📈 Script is trading above its Resistance level which is 2500 on Weekly Chart. 📈 If Script is able to sustain above 2500 level we may see good rally into stock. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 2513 🟢 Target 🎯🏆 - 2733 ⚠️ Stoploss ☠️🚫 - 2396 ⚠️ Important: Always maintain...
BANKNIFTY closed below va 1. gapup 48550 long till 48900 2. 48550-48250 trade breakout 3. gapdown 48250 short
NIFTY closed below va 1. gapup 22425 long till 22500 2. 22400-22320 trade breakout 3. gapdown 22320 short
Trading Plan for Tuesday, May 7th, 2024 Market Sentiment: Bullish, but increasingly cautious following a strong breakout. The RSI is deeply overbought, increasing the risk of sudden pullbacks. Proceed with heightened awareness of volatility. Key Supports Immediate Supports: 5186-88 (major), 5163 (major) Major Supports: 5144-46 (major), 5060-65 (major) Key...
MACRO MONDAY 8 S&P500 / M2 Money Supply ( SP:SPX / $WMN2S) M2 is a broad measure of the US money supply that includes cash, checking deposits, and other types of deposits that are readily convertible to cash such as CDs. M2 is seen as a reliable metric for forecasting/predicting inflation and for this reason it can be used as leading economic indicator....
AUDUSD - 24h expiry The medium term bias remains bullish. The sequence for trading is higher highs and lows. Setbacks should be limited to yesterday's low. Bespoke support is located at 0.6575. Preferred trade is to buy on dips. We look to Buy at 0.6575 (stop at 0.6549) Our profit targets will be 0.6640 and 0.6650 Resistance: 0.6635 / 0.6665 /...
Is it possible to predict a big move in price? I think it is. You just need to wait for a confirmation breakout candle with upper volume. I think this chart is ready for a great rally in the next few months. Just wait until you see a breakout candle ...
U.S. crude oil inventories are forecasted to grow by 1.2 million barrels for the week ending May 3, a decrease from the 7.3 million barrel surge reported in the prior week, according to strategists at Macquarie in a recent Monday briefing. The overall U.S. crude balance is projected to be considerably looser than previously expected. technically: The price...
IDEA has reached very lucrative levels for Long term investing. Bounced off near Anchored VWAP which should act as short term support. Stop loss is weekly close below 11.20 fib zone
The XAU/USD trades at around $2,320 after bouncing off daily lows of $2,291. The latest employment report in the United States (US) increased the odds for a Fed rate cut of a quarter of a percentage point in September 2024. Target 1 reached. Enjoy traders! #MOONTHETRUSCALPER #M88NVIP