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Candlestick Analysis

Resistance zone of Trendline Mother Line on stopping BullsOn the Daily candles chart of Nifty we can clearly see that Mother line and the trend line resistances are acting upon the Nifty and restricting it's further flight. Today we saw creation of another Doji like Monday. The Gap theory probably is also adding pressure on the Nifty. (Gap Theory is a very interesting subject about which we will sometimes do a special video.) Most of the gaps when a stock or index takes a leap should be filled in future as per the theory (in short). There was a gap up on Monday due to Maharashtra election results. In my opinion not all gaps are supposed to be filled there are some substantial gaps which never get filled. However we will do a webinar on this subject in future some day. Right now the major resistance zone is here for Bulls this zone starts from 24354 and ends at 24396. Nifty might need some consolidation or strong FII+DII buying to fly above this zone. If this zone is conquered further resistances will be at 24530, 24673, 24893 and 25253. Above 25253 there is pure Bull territory. Supports on the lower side are at 24135 major support (Higher Cradle of The Gap on Monday), 23948 (Lower cradle of the Gap), 23563 Major support from the 200 days EMA or the Father line, 23362 and finally 23254. Below 23254 we have a strong Bear territory. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation . Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
AAVE/USD short term buy signalCOINBASE:AAVEUSD has been building a nice long term bullish setup but the short term price action has been neutral for quite a while. Until today where we now have a short term buy signal with a pinbar continuation setup on the 1D candle chart. The invalidation area is around $164. If this starts running we could find ourselves at the 1st long term price target (400ish range) sooner rather than later, but since this is a short term setup it's best to manage risk and profits on a short term time scale. That can mean a tighter trailer stop or more conservative price target ($250-280), whatever suits you.
BINANCE:AAVEUSDLong
by krugman87
GBPAUD Wave Analysis 27 November 2024 - GBPAUD broke daily down channel - Likely to rise to resistance level 1.9600 GBPAUD currency pair today broke the resistance trendline of the daily down channel from the end of October (which encloses the earlier downward ABC correction (2) – which stopped earlier at the support level 1.9275). The breakout of this down channel should accelerate the active impulse wave (3) – which belongs to the higher order impulse wave 3 from October. GBPAUD currency pair can be expected to rise to the next resistance level 1.9600 (former top of wave B of the previous ABC correction (2)).
Long
by FxProGlobal
EURUSD Wave Analysis 27 November 2024 - EURUSD reversed from support area - Likely to rise to resistance level 1.0620 EURUSD currency pair recently reversed up from support area located at the intersection of the long-term support level 1.0455 (previous yearly low from 2023) and the lower weekly Bollinger Band. The upward reversal from the support level 1.0455 will form the weekly Bullish Engulfing if the pair closes this week near the current levels. Given the oversold weekly Stochastic and the strength of the support level 1.0455, EURUSD currency pair can be expected to rise to the next resistance level 1.0620 (former support from May).
Long
by FxProGlobal
GBPUSD: Today's Trade PlanGBPUSD is currently testing a key support level on the short-term chart. For a potential short trade, watch for the formation of an ascending triangle on the 4-hour timeframe. A confirmation signal would be a breakout above the horizontal neckline, with a 4-hour candle closing above 1.2616. In this case, you could either enter an aggressive short position immediately or wait for a retest before shorting, targeting 1.2700. Alternatively, if the price breaks below the horizontal support, it would signal a continuation of the bearish trend.
Long
by NovaFX23
6
SNEK: Adapted tools for Regime filtering & SystematisationYou should never rely solely on one tool when trading, think of trading as putting together a jigsaw. You are looking to form a picture. The more tools at your disposal allow you to form this jigsaw and make better, more informed decisions. Understand these concepts: - Orderflow - Momentum - Trend-following - Volatility - Time - Price Here's the #SNEK SNEK/USDT chart leveraging a few of my tools: - Momentum (Adapted RSI w/ Multi-Crypto Regime Detection) - Trend-following (SMA RF) - Volatility, Time, Momentum, & Trend are packaged in a third strategy with the long/short signals... Systematising our trading. Believe in something.
CRYPTO:SNEKUSD
by igreycrypto
GBPUSD: Your Trading Plan For Today GBPUSD is currently testing an important level of support on a short-term chart. To consider shorting the pair, look for an ascending triangle pattern on a 4-hour timeframe. A confirmation signal would be a breakout above the horizontal neckline, specifically a 4-hour candle closing above 1.2616. If this occurs, consider aggressively shorting the market or waiting for a retest before entering a short position with a target of 1.2700. On the other hand, a bearish violation of the horizontal support level would indicate a strong continuation of the bearish trend.
by linofx1
EurUsd could correct higher (1.0670 target)The drop in EUR/USD has been remarkable, with the pair even breaking below the critical 1.0500 technical and psychological level. On Friday, it even spiked to a low of 1.0330. However, following this sharp decline, the pair opened on Monday with a gap up, which has since been filled, potentially signaling the beginning of a correction. Confirmation of a new bullish leg requires a break back above 1.0515. A daily close above this level could pave the way for a rise toward the 1.0670 resistance zone. As long as Friday's low remains intact, the outlook remains bullish. Dips near the 1.0400 level could present attractive buying opportunities, offering a favorable risk-to-reward ratio.
Long
by Mihai_Iacob
12
S&P 500 futures: Bulls eye breakout beyond record highsS&P 500 futures have been marching higher for more than a week, attracting buying on dips towards uptrend support. With RSI (14) and MACD confirming the bullish price action, the path of least resistance looks higher, putting a retest of 6053.25 on the radar. With the bias to buy dips near-term, there are two setups available: the first would be to wait for a break above 6053.25. If it were to hold beyond the ultra-short term, you could initiate with a tight stop beneath for protection. Alternatively, if we were to see another retest of uptrend support, longs could be established above it with a stop beneath for protection. Some traders use extension measures to assess potential targets when trading at record high, but I’m more simplistic; round numbers, such as 6100 using this example, are one option. Another would be to wait for an obvious topping signal from either a single or multiple candle pattern. When one comes along, bail. Otherwise, let it ride. If the price were to break and close beneath the uptrend, the bullish bias would be invalidated. Good luck! DS.
CME_MINI:ES1!Long
by FOREXcom