Chart Pattern: Telcoin is forming a symmetrical triangle over the past 3 days, with the support level at $0.0067. This pattern suggests a potential breakout, with a price target of $0.009 (33% potential return). MFI Indicator: The Money Flow Indicator (MFI) has moved from oversold (10) to neutral (50) in the past 10 hours, indicating that the selling pressure has subsided, and the market is entering a more balanced or slightly bullish phase. Liquidity: There is strong liquidity below the current price, with 137M + 44M in buy orders just under the current price, suggesting potential support levels. There is also 211M in red volume at the $0.0078 resistance level, which will be key to watch for any breakout confirmation. Previous Breakout Attempts: The previous breakout attempt at $0.0073 was unsuccessful, with 20M red volume and an MFI of 85, signaling overbought conditions. The current MFI is more balanced, suggesting a higher chance for success on this attempt. Pattern: Symmetrical Triangle (3 days) Support Level: $0.0067 Target: $0.009 (33% return potential) Liquidity: Strong buying interest below at 137M + 44M. Heavy resistance at $0.0078 with 211M in sell volume. MFI: Improved from oversold (10) to fair value (50) in the past 10 hours, signaling reduced selling pressure and neutral momentum. Previous Resistance: Previous breakout attempt failed at $0.0073 with 20M in red volume and an MFI of 85 (overbought). Conclusion: Watch for breakout confirmation above $0.0073. Target of $0.009 with 33% upside. A failure to break above $0.0073 would invalidate the bullish scenario, with a potential revisit to $0.0067.
No wrong or right reasons, I just know that this most likely continue to rise
Hey Traders, in today's trading session we are monitoring CHFJPY for a selling opportunity around 170 zone, CHFJPY is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 170 support and resistance area. Trade safe, Joe.
Check the green box for buy. I marked the points and there is a small resistance in the orange line. If it breaks, it can go up to the upper lines.
Rail Vikas Nik Ltd view for Intraday 4th Dec #RVNL Resistance 450. Watching above 451 for upside movement... Support area 430 Below 445 ignoring upside momentum for intraday Support 430 Watching below 429 for downside movement... Resistance area 450 Above 435 ignoring downside move for intraday Charts for Educational purposes only. Please follow strict stop loss and risk reward if you follow the level. Thanks, V Trade Point
get ready boys. waiting for that 200 EMA touch and bounce.
Someone please collect this free $$$... Daily ascending channel swing within a Weekly downtrend. Just wow SHORT to the low #simple
NSE:NIFTY Key Notes: NIFTY FUTURES OI Data is Bullish Bias. Previous day, Price closed at Demand (M15) zone. Price is looking for Buy Stops at the premium zone. There are cluster of Institutional bearish reference levels to hold the price. If there is a gap up opening today, price must break the bearish reference level. If price fails to break even with gap up, Price will like to take U turn from bearish levels.
With market making HL as seen from 1-2 and with market finding support at structure 2- resistance becomes support if you move to the left, I see price moving further. What are your thoughts?
It was a swing trade, I caught 30pips profit. Price has longer term bearish bias. Wait for the right entry