Now Looks like every chart has Head & Shoulders Pattern. A Upside can be seen of around 250 points. This post is just my perception and for study purpose only. I am not a SEBI registered analyst. As stock market has risk of loosing money. Please invest your hard earned money carefully. I will not be responsible for any loss in the stock market.
After months of a persistent downtrend within a clearly defined descending channel, GBP/USD is showing signs of a potential reversal from the lower bounds of the structure. The pair is currently trading near a key support level at 1.2135, and the RSI indicator suggests oversold conditions, hinting at the possibility of a bullish recovery. Technical Breakdown: Descending Channel: The price has respected the downward-sloping channel, bouncing off its boundaries several times. Currently, the pair is at the lower edge, which has historically acted as a strong support zone. Support and Resistance Levels: Key support levels: 1.2135 and 1.2054. Upside targets: 1.2305, 1.2450, and potentially 1.2616 if bullish momentum intensifies. Bullish Divergence: Momentum indicators (e.g., RSI) are beginning to show divergence, indicating waning bearish momentum and the potential for a reversal. My Expectation: I anticipate a consolidation around the current levels, followed by a breakout to the upside. A bounce towards 1.2305 and 1.2450 is on the cards, with the possibility of further gains if the pair breaches the descending channel’s upper boundary. This move would align with broader market dynamics and technical recovery patterns. Strategy: For traders, this could be a great opportunity to watch for bullish confirmations such as a breakout of minor resistance levels or strong candlestick formations at support. Tight stop losses below 1.2054 can manage downside risks.
Waited for it to sweep sell side liquidity, waited for confirmation of reversal and not a continuation, Traded within a bullish order block, entered at 1.02144 Aiming to TP 1 at 1.02500
LUCK made high of 1229 and dropped to 1057 and then it is bounced from Fibonacci Golden Zone, Weekly Trend Line and from 50 EMA line and expected to go up with first Target ?Price could be 1229 Stopp Loss would be: 1045.
In this video, you will see the top 2 stocks to short-sell in this bear market coming. Its sad to note that w are in a bear market but you can still learn more about how to spot the stocks that are trending downwards in this bear market in the stock market so to learn more watch this video right right now also you will see how to use the rocket booster strategy and candle stick patterns So remember in this video you will see: ->2 Candlestick patterns ->The rocket booster strategy ->Two top stocks that are leading the bear market in the stock market Rocket boost this content to learn more Disclaimer: Trading is risky please learn risk management and profit-taking strategies also feel free to use a simulation trading tools before you trade with real money.
On Friday, EURUSD tested the previous low following the news. This confirms the downtrend, leaving selling opportunities as the only option. This week, the key news is on Wednesday, when inflation data will be released. This is the next major event likely to have a significant impact and could trigger a correction.
While USD/JPY remains strongly correlated with yields in the belly of the US Treasury curve, that’s not translated to explosive upside recently, a noticeable departure from the trend seen in previous months where rising yields saw dollar-yen rip higher. With the pair unable to hold gains despite the blowout nonfarm payrolls report last Friday, the price action hints of fatigue following the substantial bullish run from the September lows. The inability to follow US Treasury yields higher may also be a sign carry trade flows may be slowing or even stalling. RSI (14) has diverged from price over the past month, and with MACD generating a fresh bearish signal, it points to waning bullish momentum, potentially increasing the risk we may see some form of bearish reversal. With dips below 157 bought over the calendar turn, the risk-reward of going short around current levels does not screen as compelling, suggesting those considering bearish trades may want to wait for a potential retest of Friday’s high of 158.88 before initiating trades. If the price were to be rejected again at this level, it would generate a decent setup, allowing for shorts to be established beneath the level with a tight stop above for protection. 155.89 would be a potential trade target.
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Despite being at the local support zone, Bitcoin is not showing any strong signs of buying volume but rather we see the pressure from sellers, which might result in a market structure break and we might see a bigger downward movement towards the next major support zone (which, btw, has not yet been re-tested and secured by buyers). So that's exactly what we are looking for here ? Swallow Team
If the first line, which is blue, breaks, it can drop to the lower lines, which are the bottom of the channel.