I just looked at easily 50+ charts that all look pretty much identical to this chart. There is a good chance whatever one does, the others will follow mostly. If there is a break out, there should be systematically, dozens of breakouts that can be jumped on, all happening at varying times within a short time frame. Similarly, could be a pretty big broad market pull back where we should be hunting support lines to buy the dip. Here is general analysis on the chart. Structure and Price Action: Rising Wedge Breakdown: The chart shows a clear rising wedge pattern that has broken down decisively. Rising wedges are bearish patterns, and this confirms further downside potential. Downward Red Trendline: A clear descending resistance line has now formed, rejecting price attempts to climb higher. The recent price action shows consistent lower highs, reinforcing bearish momentum. Consolidation Zone: Price is currently consolidating near the $6.8 level, where it is testing both horizontal and diagonal support zones. Support and Resistance: Immediate Resistance: $6.9–7.0 (aligned with the descending red trendline and EMA resistance). Key Support Levels: $6.5: Current short-term support. Below $6.5: Next support around $6.0 and $5.5, where historical levels exist. Indicators: Moving Averages (EMA 20/50/100/200): Price is below the EMA 20 and EMA 50, which confirms short-term bearish sentiment. The EMA 100 and 200 are flattening around $6.9–7.0 and acting as strong resistance. Money Flow Index (MFI): 49.24 indicates neutral momentum, suggesting there’s room for a move either up or down, depending on breakout direction. Stochastic RSI: The Stoch RSI has just crossed upward from oversold territory, indicating a possible short-term bounce but not yet a reversal signal. If price fails to reclaim higher levels, this could be a false signal. Volume: The volume during the most recent downward move remains relatively high, confirming bearish pressure. Current low volume during the consolidation suggests indecision and potential for a breakout. Pattern Analysis: The combination of the rising wedge breakdown and the descending trendline suggests that bearish pressure is dominant. Current price action resembles a bearish pennant or continuation pattern within the broader downtrend. Probabilistic Outlook: Bearish Continuation (Primary Scenario): If price fails to reclaim $6.9–7.0 and breaks below $6.5, further downside is likely. Key downside targets: First Target: $6.0 Second Target: $5.5–5.3 Short-term Bounce (Less Probable): If Stochastic RSI momentum and MFI push price above the descending trendline (~$7.0), a short-term recovery may occur. Key upside targets: First Resistance: $7.0–7.2 Second Resistance: $7.5 Key Signals to Watch: A breakdown below $6.5 = Bearish confirmation. A breakout above the descending red trendline (~$6.9–7.0) = Short-term bullish reversal. Volume will confirm the breakout or breakdown direction. Conclusion: The chart remains bearish overall, with a high probability (~65–70%) of further downside unless price breaks the descending trendline with conviction.
Dear friends, as you can see on the chart that aca is approaching to break the above resistance & it will break those levels in next week , it will climb higher and higher this is your chance now for react. nfa dyor initial tp's 0.14 , 0.16
a clear plan for entry, exit, and risk management. Here's a summary of your trade setup: 1. **Yellow Line (Entry Point)**: - **Price Level**: 10B - **Action**: Entry into the trade after confirming a breakout. 2. **Red Line (Take Profit 1 - TP1)**: - **Price Level**: 10.2B - **Purpose**: Secure partial profits at this safer, more conservative target. 3. **Green Line (Take Profit 2 - TP2)**: - **Price Level**: 10.44B - **Purpose**: Maximize potential gains if the upward trend continues. 4. **White Line (Stop Loss - SL)**: - **Price Level**: 9.82B - **Purpose**: Limit losses by exiting the trade if the price moves against your setup. This structured trade setup demonstrates a balanced approach, focusing on capturing profits while minimizing risk. The entry point aligns with a breakout confirmation, and the take-profit levels allow for progressive profit-taking based on market performance. The stop-loss level ensures disciplined risk management.
Using both HTF and LTF analysis and comparing this to the Dollar we can see that the pound will drop this week. From market open we can expect price to either take the ASH tapping into the 4H supply and continue in the downtrend from last week taking the ASL and further breaking structure to the downside. However, there is also an ASH above so it is possible price may push up slightly in order to grab liquidity and continue pushing down. With the extreme bearish euphoric price movement price may have already taken enough liquidity in order to respect the ASH and just move to the downside with no point of entry. Regardless of the way price decides to move when the markets open and asian session is in play, I expect price to push down as we have seen a heavy downtrend.
In our last analysis we were heavily on sell from 2720 area to 2650. as we have discussed in our video all the important areas and where we can took buy trade aur sell trade.
With overall market bearishness, we could see Ripple move down to the external range liquidity region after its initial unwillingness to settle there but rather move up to claim more orders at the order block. As you all know, I deal mainly with scalps and intraday, this is a good 3.3RR! I have drawn outlines for possible entry, exit, and stop out orders. I based my entry on the order block created in the 1H timeframe, and still on that timeframe we see our entry at the golden zone called O.T.E which will mark our confluence. O.T.E, Bearish OB, Premium sell, Liquidity sweep all used as our confirmatory confluences. Only an institutional news will render this analysis invalid. LEAVE A FOLLOW!
N wave with E, V, N & NT projection. The price has broken above the Kumo, signaling a shift to bullish momentum. The Tenkan-sen and Kijun-sen lines are in a bullish crossover, supporting upward momentum. The Chikou Span is above the price, confirming the bullish sentiment. NT (0.905): This is the immediate support level, with the price sustaining above it after testing it during the correction phase. The Kumo thickness indicates support around the NT level (0.905), serving as a strong area for potential bounce back. Increasing volume during the breakout above the Kumo indicates strong buyer interest. Consider entering a long position near the current price of 0.945, preferably on a confirmed breakout above the N level (0.970) with a strong volume. Confirmation: Look for bullish price action (like a breakout candle) to confirm the entry, ideally watching for a close above the resistance level of 0.970. Set a stop-loss around 0.895, just below the NT level, to protect against downside risks and to account for normal volatility. Monitor overall market sentiment and any news related to MYEG or the Malaysian tech sector that could impact trading behavior. Volume analysis is crucial; increases in volume while approaching breakout levels will validate bullish sentiment. Keep track of potential volatility as the price approaches projected resistance levels, adjusting stop-loss orders to lock in profits upon favorable movement. Note: 1. Analysis for education purposes only. 2. Trade at your own risk.
Confident as I am, it is coming to a time when things start to reset. It still has buying pressure moving it higher, and I would anticipate a more significant move based on a few key indicators.
https://www.tradingview.com/chart/UaJz9uiT/ We have seen a dramatic dance of BankNIfty in past few day. Here is the postmortem of the Daily price movement in past 2 weeks on Daily time frame. Based on the chart of **Nifty Bank Index** on the **daily time frame**, here is a breakdown of the trader psychology and price action visible: --- ### ** 1. Recent Price Action Context ** - **Uptrend before consolidation**: - The chart shows an initial bullish momentum marked by **strong green candles** that signify buyers are in control, pushing prices upward. - **Consolidation period**: - After the strong upward move, you observe a few small-bodied candles (doji and neutral-type) at the top. These candles indicate **indecision** in the market or a **pause** in momentum as buyers and sellers wrestle for control. - **Large wick and recovery**: - A significant candle shows a **large lower wick** where price fell drastically but closed near its opening price. This reflects: - **Strong buying interest** after a sharp dip. - Sellers initially pushed the price lower, but buyers stepped in, absorbing the selling pressure and driving the price back up. - This could signify the presence of **demand** at lower levels. --- ### ** 2. Trader Psychology ** - **Strong buyers early on**: - The rally at the start of the chart reflects **bullish sentiment**, as traders jumped in with confidence, likely due to positive news or market sentiment. - **Indecision phase**: - The small-bodied candles (e.g., doji) represent a point of hesitation: - Bulls may be taking profits after the strong rally. - Bears attempt to sell but struggle to push prices lower. - **Large wick psychology**: - A large lower wick indicates that: - Sellers tried to break support but failed to sustain the move. - This failure emboldens buyers to step in, creating a sharp **reversal or rejection of lower levels**. - Many traders see this as a **bullish signal**, as it suggests buyers are still active and defending the price zone. --- ### ** 3. Key Observations from Price Action ** - **Support Zone**: - The large wick indicates the area around the wick's low is a **potential support zone**. Buyers defended that level aggressively, and traders will watch it closely for future moves. - **Bullish recovery**: - The strong close of the most recent candle suggests bullish sentiment may be returning. It shows that buyers absorbed the selling pressure and pushed prices back up. - **Volume**: - The high volume (139.91M) supports the validity of the price action. High volume on a bullish recovery suggests significant participation from buyers. --- ### ** 4. What to Watch for Next ** 1. **Breakout vs. Reversal**: - If prices break above the recent consolidation range, expect a continuation of the uptrend. - Conversely, failure to break higher could lead to further consolidation or a potential reversal. 2. **Support Retest**: - Monitor if prices revisit the large-wick low (support). Holding this level could confirm strong demand, while a breakdown might shift the sentiment to bearish. 3. **Volume Confirmation**: - Continued bullish price action with strong volume would confirm buyer strength. --- ### ** Conclusion ** The chart reflects **buyer dominance** after a brief period of indecision and a strong rejection of lower prices. Traders appear to see value at lower levels, and sentiment leans bullish unless prices break below the recent support. Watch for a breakout or retest of the key levels for confirmation of the next directional move. Always feel free to like and comment here. We would love to hear you and respond. Best Wishes, Team StoxWare
With indicators submerging into a bearish dance, you can see a few points drop but not a significant retrace before it convenes to the bullish side.