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Candlestick Analysis

Topside wicks, sagging momentum suggests AUD/JPY break may stickAUD/JPY looks primed for downside. The price has broken the uptrend it's been sitting in since late September. RSI (14) is trending lower with the bearish signal confirmed by MACD. And one look at the topside wicks above 101.00 suggests sellers are lurking and unwilling to budge. If the price manages to close beneath the uptrend, you could sell with a stop above for protection. To make the trade stack up from a risk-reward perspective, the 50-day moving average or 98.04 are potential targets. Good luck! DS
Short
by FOREXcom
Trade Recap: EURUSD - SHORT & USDJPY - LONG, 29/10/2024EU Bias Analysis: Although price is deeply discounted on the 1D timeframe, the 4H counter trend persists. Short entries were in line with the 1H bearish range and price pulled back into the 79% OTE area, which confluently overlapped with a 1H bearish OB. Grade: High Quality Valid UJ Bias Analysis: Similarly to EU, price from a 1D perspective was in a premium area but with the 4H counter trend also persisting, the bias remained long and in line with the 1H bullish range. After a pullback into the OTE area following high volume news releases, I waited for a retest of the 1H FVG to seek entry confirmation. Grade: Valid What I did well or could've done better - Persisting in my execution of EU shorts despite being taken out on multiple occasions (both at full loss and with partial profits) - Read through the news "noise" and executed on UJ longs despite the volume which could've been misleading. - Executed on my phone and set the wrong take profit area. Had I not done this recap, I probably would've left money on the table (Given full TP is realised) so I need to be mindful of double checking trade parameters on my laptop if execution takes place on my phone.
Long
by The_Modern_Day_Trader
SOLUSD A lesson learned.Although yes, I know I am being negative with this play with the Bitcoin Bullrun going on but hear me out. Doge took off two days ago and is still rising my only issue is that I sold to early, but I am happy that I took my winnings when I did. Anyway, this can go either way I am fully aware of Solana ability to perform well. But I have seen Solana perform terribly as well it we can also. Before I got heavily involved in the markets the way that I am now I see prices rise and fall many times and I was always mad when I see it go high and I didn't put something sooner, and I always seen prices drop really low, and I was happy I never put anything in. So far, I have had really good plays since sticking to my plan of looking at what the Trend lines are telling me and waiting for a breakout and entry. I recently made a play not sticking to my plan with SUIUSD and it cost me a pretty penny I just did it just because I thought I had it figured out. But I am going to stick to my plan of watching trends line and trying to catch the breakout that is what is helping me win. As long as I can remember that I will be fine. So, my plan for here is to see what's happening because I am seeing a descending triangle with the trend lines, and I am also seeing a cup and handle so ill wait
COINBASE:SOLUSDShort
by Christian_J_Cruz
Will Three White Soldiers Lead the Way?OANDA:XAUUSD Analysis 4H Chart Current Price: 2447.215 Analysis Summary • Three White Soldiers Pattern • Volume Analysis • Overbought and Resistance Zone • Overall Bullish Trend Three White Soldiers: The chart shows a clear Three White Soldiers pattern, a strong bullish reversal candlestick formation indicating potential upward momentum. This pattern suggests consistent buying interest, as each candle closes higher than the previous one, signaling sustained demand. Volume Analysis: A closer look at volume reveals a weakening trend in the third candle of the Three White Soldiers pattern, suggesting a slight decline in buying strength: • 1st Candle: 74.889K • 2nd Candle: 134.962K • 3rd Candle: 41.235K This drop in volume in the last candle may indicate limited buying pressure, warranting caution before assuming continued upward movement. Overbought and Resistance Zone: The price is approaching a significant Overbought and Resistance Zone, which could act as a barrier to further upward movement in the short term. Combined with the lower volume in the third candle, this zone could lead to a potential consolidation or minor pullback before the next upward move. Despite this, the bullish reversal signaled by the Three White Soldiers suggests that the overall trend remains positive. Interpretation: Considering the overall bullish trend, the weakening volume in the last candle of the Three White Soldiers, and the approach to the Overbought and Resistance Zone, we anticipate the following: 1. Retracement to Support: The price may retrace down to 2739.624 before rebounding back to the Resistance Zone. 2. Potential Pullback to Ultimate Support: A further dip may take the price towards Ultimate Support at 2734.375. 3. Continued Bullish Momentum: After testing these support levels, the price is expected to resume its upward trend, with a potential breakout beyond the Resistance Zone, targeting the Extreme Overbought Zone. Key Levels to Watch: • Support: 2714.844 • Ultimate Support: 2734.375 • Retracement Level: 2739.624 • Overbought Zone: 2754.116 • Extreme Overbought: 2758.565 • Resistance: 2758.565 Overall Trend: The overall trend remains bullish, with expectations of continued upward movement following any short-term pullbacks. This analysis combines technical patterns, volume insights, and trend direction to provide a comprehensive outlook. Happy trading!
OANDA:XAUUSDLong
by SpicyPips
U shape recovery on cards for Nifty. There is a chance of U shape recovery on Nifty if it is able to beat Mother and father line resistance. Today we saw a swift recovery by Nifty after making a low of 24140. Nifty closed at 24466. That was a recovery of 326 points which is quite remarkable. The only negative point was the close which is 2 points below the Mother line resistance of 50 Hours EMA at 24468. With this close if we can get an opening above Mother line tomorrow and if Nifty sustains above it we can see further swift recovery till Father line of 200 Hours EMA which is at 24887 with a trend line resistance at 24613. Nifty Resistances remain at: 24468 (Strong Mother Line Resistance) , 24613(Strong Trend Line Resistance), 24887 (strong Father Line resistance), 24917 and 25204. Above 25204 Bulls can come back aggressively. Nifty Supports Remain at: 24349, 24173 and 24073. Below 24073 Bears can get very aggressive in dragging the market downwards. To know more about Mother, Father and Small child theory and it's correlation to stock price and 50 and 200 days EMA read my book. The Happy Candles Way to wealth creation available on Amazon in Paperback and Kindle version. 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:NIFTYLong
by Happy_Candles_Investment
DIXON Short Setup: Evening Star & Potential HNS with Trendline Weekly Analysis Pattern Observed: Evening Star on Weekly Timeframe Additional Insights - The Evening Star pattern tends to be more reliable on Daily and Weekly timeframes, making this setup particularly noteworthy for swing traders. Trade Setup 1. Entry: Enter after a decisive break below the low of the third (red) candle in the Evening Star pattern. - Alternatively, you may enter on the fourth candle if it signals a reversal, with a stop loss set according to your risk tolerance. 2. Stop Loss (SL): Can be set based on your risk preference, usually just above the high of the Evening Star pattern. 3. Target (TGT): Consider scaling out at key support levels or use the measured HNS target as detailed below if the formation completes. --- Potential Head and Shoulders (HNS) Formation Trade Setup for HNS Pattern: 1. Entry : Enter when price decisively breaks below the neckline on a closing basis. 2. Target (TGT): Measure the distance from the top of the head to the neckline and project it downwards from the neckline for your target. 3. Stop Loss (SL): Place the stop above the head of the HNS pattern. --- Additional Confirmation I've drawn a trendline to monitor for a potential breakdown. If either the Evening Star or HNS pattern aligns with a trendline break, it would serve as an additional confirmation for a short position. --- This setup combines a confluence of technical factors, making it robust for weekly trading decisions. Comments and thoughts welcome! IMPORTANT THINGS TO REMEMBER 1. Don't be fooled by opearators Theyll try it take it up to sell 2. Don't be a hero, follow SL with 1% extra loss max. (as setup is on Weekly TF)
NSE:DIXONShort
by The2PercentTrader
GOLD (XAUUSD): Important Decision Ahead The price of GOLD is currently testing a daily resistance cluster base on the all-time high. With the long-term trend being bullish, there is a high likelihood that the market will update this resistance and reach a new high. Confirmation of this breakout will come with a 4H candle closing above the highlighted structure. If this occurs, the bullish rally could continue to at least 2780. For those looking to short the market, it is advised to closely monitor the 30-minute time frame. The market is currently trading within a narrow range, showing respect to the resistance and minor support levels at 2749 and 2748. A signal to short would be a bearish breakout below the support level of the range, with confirmation coming from a 30-minute candle closing below it. The next target for shorts would be 2742.
CAPITALCOM:GOLD
by linofx1
1
USD/JPY rally facing fundamental test with US job openings data USD/JPY remains a play on the US interest rate outlook, sitting with an incredibly strong correlation with US two-year Treasury note futures of -0.98 over the past fortnight. When short-dated US debt futures have moved in a particular direction, USD/JPY has almost always done the opposite, mirroring US Treasury yields. With there's no obvious reversal pattern in US two-year note futures in the right-hand chart, providing reason to be cautious about getting to aggressive, with the first of the week’s major US economic releases on the way in the form of JOLTs job openings for September, the risk of profit-taking in USD/JPY appears elevated. After a surprise bounce in August, markets are looking for only a minor decline in openings of 50,000 to 7.99 million. Notably, this survey tends to bounce around and we haven’t seen back-to-back increases since late 2022. That hints at the potential for a downside surprise that could spark downside for US Treasury yields and USD/JPY which have run very hard in recent weeks. If the price holds below 153.19, you could initiate shorts with a tight stop above for protection targeting a return to the 200DMA. Good luck! DS
Short
by FOREXcom
4
Antony Waste is certainly not waste.Antony Waste Handling Cell Ltd. engages in the provision of solid waste management services. Its services include waste collection and transportation, mechanized and non-mechanized sweeping, waste processing and treatment, and waste to energy. Antony Waste Handling Cell Ltd. CMP is 736.75. The positive aspects of the company are Annual Profit Growth higher than Sector Profit Growth, Rising Net Cash Flow and Cash from Operating activity and Company able to generate Net Cash. The Negative aspects of the company are High Valuation (P.E. = 24.5), High promoter stock pledges, Stocks Underperforming their Industry Price Change in the Quarter and MFs decreased their shareholding last quarter. Entry can be taken after closing above 747 Targets in the stock will be 784 and 821. The long-term target in the stock will be 848 and 900. Stop loss in the stock should be maintained at Closing below 671 or 605 depending upon your risk taking ability. 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:AWHCLLong
by Happy_Candles_Investment
Alkem looks alrightAlkem Laboratories Ltd. engages in the development, manufacture, and sale of pharmaceutical products. It produces branded generics, generic drugs, active pharmaceutical ingredient, and nutraceuticals. Alkem Laboratories Ltd. CMP is 6039.55. The positive aspects of the company are Company with Low Debt, Company with Zero Promoter Pledge, Stocks Outperforming their Industry Price Change in the Quarter and MFs increased their shareholding last quarter. The Negative aspects of the company are High Valuation (P.E. = 35.2), Declining Net Cash Flow : Companies not able to generate net cash and Increasing Trend in Non-Core Income. Entry can be taken after closing above 6105 Targets in the stock will be 6202 and 6315. The long-term target in the stock will be 6442. Stop loss in the stock should be maintained at Closing below 5818 or 5363 depending upon your risk taking ability. 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:ALKEMLong
by Happy_Candles_Investment
SWING IDEA - ANAND RATHI WEALTH LTDAnand Rathi Wealth Ltd , a leading wealth management company in India offering financial advisory services, is presenting a potential swing trading opportunity. Reasons are listed below: 4300 Zone Breakout : The 4300 level has been tested multiple times, and the stock is now breaking out, suggesting renewed buying interest. Bullish Engulfing Candle on Daily Timeframe : A bullish engulfing pattern has formed on the daily chart, indicating strong upward momentum. Breaking Consolidation Zone of 6 Months : The stock is breaking out of a long consolidation phase, which could lead to a new bullish trend. Trading Above 50 and 200 EMA : The price is trading above both the 50 and 200-day exponential moving averages, reinforcing the bullish outlook. Volume Spike : An increase in trading volumes supports the strength of the breakout, indicating robust market participation. Target - 4850 Stoploss - daily close below 3990 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:ANANDRATHILong
by Visionary_Growth_Insights
Technical bounce in Nifty today, recovery can be a long processToday what we saw can be called as technical recovery by Nifty in the process of bottom formation. Actual recovery can still be a long process. Bulls can be back inn business only if we get a closing above mother line of 50 days EMA that is at 24898. 24898 is a critical level because mid channel resistance for the current parallel channel as well as Mother line. Whether Nifty can weather the storm and move ahead is only a question which time will answer in the short term. Long term investors can see current situation as partial entry zone for large and mid-caps which have given a good result this quarter or are giving a good result. Supports for Nifty remain at: 23865, 23684, 23464 (Father line Strong support 200 days EMA) and 23626 (Strong Parallel Channel Bottom Support). Resistances for Nifty Remain at: 24492 (Today's high and strong Trend line resistance), 24679, 24898 (Strong Mid-channel and Mother line resistance of 50 days EMA), 25221 and 25623. Strong momentum and positive action has potential to take Nifty back to 26K+ levels. As on date even after strong resilience shown by Nifty FIIs are still on the selling side as they were net sellers of Equity worth Rs.3228 Crores. DIIs and Retail investors have been on the buying side at every dip. This is what is not allowing the Nifty to fall currently beyond 200 days EMA. Let us see who given in first. Very interesting tussle going on between FIIs and DIIs + Retail investors combination. Shadow of the candle for tomorrow is neutral to slightly positive but it is hanging by a thin thread. (Approach for long term should be cautious but positive. Approach for short term is still very cautious as we are not out of deep waters).
NSE:NIFTY
by Happy_Candles_Investment