EURCAD Market structure are on uptrend (Bullish). Spotted demand area (Green Rectangle). its the first demand area that breaking the downtrend structure and ussually its a very good area. Entry Position : Long Profit Target : 1:3 Shown on the chart image (Green Line) Stop Loss : Slightly below demand area (Red Line) Follow me if u guys making any gains from this idea. Thanks Vienmelodic
Still waiting for price to continue lower towards the target box. As I have said many times before, C waves can either be 3 or 5-wave moves. This appears as if it will be a 3-wave move based on the structure it has carved out thus far. I am of a mindset that we should move into the box within the next month or two. Gold in general just moves very slow the majority of the time. Every once in a while, it sees some volatility but that is very rare. Should it make a new ATH before entering the box, then wave 4 is likely already over and was very short. This is not my primary thought process but nonetheless it is very possible.
EURAUD Market structure are on uptrend (Bullish). Spotted demand area (Green Rectangle). its the first demand area that breaking up after a long consolidation phase and ussually its a very good area. Entry Position : Long Profit Target : 1:3 Shown on the chart image (Green Line) Stop Loss : Slightly below demand area (Red Line) Follow me if u guys making any gains from this idea. Thanks Vienmelodic
DRIP is showing signs of a breakout from a symmetrical triangle pattern on the 30-minute chart. Entry is set at the yellow line ($11.62) with the following trade parameters: Stop Loss (SL): $11.42 (below lower trendline support). Target 1 (T1): $11.97 (red resistance line). Target 2 (T2): $12.33 (green resistance level). Monitor volume for confirmation of breakout momentum.
AMEX:SPY December 27, 2024 15 Minutes. As expected, 602 gave resistance and AMEX:SPY managed to hold 597-598 yesterday. I expect a move today after 2 days consolidation. I will go long above 603 for a 3 to 4 $ move towatds 608-609 levels. Provided 597 is held today. A close below 597 will result i a 2$ trade. Possible. I prefer to go long above 602.6 - 603 for the day.
Hey Traders, in today's trading session we are monitoring EURJPY for a buying opportunity around 163.700 zone, EURJPY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 163.700 support and resistance area. Trade safe, Joe.
GOLD TODAY Gold broke the 2630 zone to extend its rally to near 2640 yesterday. And is now declining back to test the breakout zone. Gold seems to be moving in an uptrend channel and could target the 50% Fib zone of the previous decline around 2655. Therefore, in the Asian session, you can wait to buy gold around the 2628-2630 zone. If you want to sell, you have to wait for a market decline to ensure safety.
https://www.tradingview.com/x/uPDHRrg9/ TL:DR Currently Analyzing DOGE because one of my clients asked me to create a customized indicator and parameter set for him, and these are the results. Long story short, a backtest shows that the custom indicator and parameter set will yield 7000%+ profit compared to buying and holding DOGE which only resulted in 400%+ profits. According to that indicator, DOGE is currently in another buy state. Let me walk you through how I did it, the details and nuances, and next steps. Please let me know if you agree or disagree with me. I have a breakdown of the script and here is the link for it: https://www.tradingview.com/u/nhbprod/zEBjwITr Here is my general process for validating whether a script will be successful: 1) Determine performance vs buy and hold In the world of technical analysis, you must have a benchmark to compare your results to. Depending on your goals, that benchmark can vary. For my goals, I believe it makes sense to compare indicators directly to the buy and hold scenario, but in some scenarios, it makes sense to use other metrics to compare your indicator against (I'll discuss this in a future post.) When comparing your indicator to a buy and hold, I PREFER to use a 100% order size and this is obviously UNREALISTIC because there aren't many traders who dump 100% of their equity into a single investment. However, because I am doing a comparison test, it is important to max out the indicator since we are comparing it directly to the buy and hold. Similarly, we don't add in any trade costs, which mean I am neglecting the commission, fees, and slippage, which again show this is unrealistic. Again, the reason I do this method is so that I can verify if the indicator is any good or not. A "good" indicator will have consistent results and beat the buy and hold over the course of a long duration with a large number of trades. a "bad" indicator will be inconsistent, which may refer to huge drawdown, or periods of time where it is unsuccessful/unprofitable. The difference between a 'good' indicator and a 'bad' indicator in this context is that a 'good' indicator will be able to absorb some of the trade costs (mentioned earlier) whereas the 'bad' indicator can't be fixed. Trade costs, especially commission and fees, are highly dependent on number of trades. So if a 'good' indicator performs well on a 1 minute chart against the buy and hold, but it starts to fail when trade costs are accounted for, then you can still adjust the indicator or timeframe so that you perform less trades, which will reduce the trade costs, but still maintain the profits. Again, a 'bad' indicator is dead in the water if it can't outperform buy and hold in the first place. In this example, we have DOGE performing at +400% profits. In the same time period, this strategy would have yielded 7000%+ profits in the same time period. Therefore, these results show that the customized parameter set and indicator work well, and should be considered as a 'good' indicator to use for DOGE. The next step is to add in trade costs, and modify the timeframe IF NECESSARY. Most likely, from my experience, a strategy that yields 7000%+ profits won't suffer significantly from trade costs, and will still be SIGNIFICANTLY better than the 400% DOGE buy and hold scenario, which ultimately leaves my client and I with what he requested: a solid and profitable strategy that he can use to alert him when to buy and when to sell DOGE. ?If you'd like me to come up with a custom indicator and parameter set for whatever you trade, please send me a message and I'll work on it ASAP and make a post about it! ?Please respect each other's ideas and express them politely if you agree or disagree.? ?Be sure to follow the updated ideas.? Please do not forget the ✅' like'✅ button ?? & Share it with your friends; thanks, and Trade safe.
Technical Analysis of Deepak Nitrite Ltd. (DEEPAKNTR) - Daily Chart ?? ? A detailed dive into the technicals of DEEPAKNTR to identify key levels, potential zones, and actionable insights for traders and investors! Overview: The daily chart of Deepak Nitrite highlights critical price zones, offering insights into strategic entry and exit points. Let’s decode the price action and trend! Key Levels and Zones: ? Current Price: ₹2,571.25 (-₹30.65 | -1.18%) Support and Buying Zones: ? First Buy Zone (Optimal Trader Zone): ₹2,546 - ₹2,602 Potential entry point for traders seeking short-term price movement. ? Second Buying Zone: ₹2,386 - ₹2,431 Secondary entry level for long-term investors aiming for a safer risk-reward balance. Target Zones: ? Options/Swing Target: ₹2,800 - ₹2,828 Medium-term target for swing traders and options positions. ? Ultimate Target Zone: ₹3,018 Indicates a significant bullish breakout if reached. Stop Loss: ? Price: ₹2,261.20 A critical level to invalidate the bullish setup, ensuring risk management. ? Additional Insights: ? Change of Character (CHoCH): Two instances of CHoCH on the chart signal potential trend reversals or sentiment shifts. ? Wave B Retracement Zone: Highlighted in gray, this zone marks a corrective phase, possibly consolidating before the next bullish impulsive move. Educational Note: Always focus on identifying key levels, setting a stop loss, and using technical indicators like CHoCH and retracement zones to enhance decision-making. Patience and discipline in trading can yield favorable results. ? Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Trading involves risk, and you should conduct thorough research or consult a financial advisor before making any decisions. #DeepakNitrite #TechnicalAnalysis #TradingPlan #StockMarket #Investment
This is the analysis of kmd chart on daily fram for short term I expect this move to be done within few days good luck for all