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Capitalizing on Bearish Breakout: Ideal Selling Opportunity 📉🐻We've got an enticing EUR/USD setup on the 1-hour timeframe that deserves your attention. Here's the lowdown: 📌 Technical Analysis Highlights 📌 📉 Bearish Breakout: After a period of range-bound trading (or a bearish flag, depending on your perspective), the price has decisively broken below a key support level, which has now flipped into a formidable resistance. This signals that bulls have been trapped, allowing the bears to regain control. The trend remains bearish 📈 Price Action Insight: With the balance tipping in favor of bears, I anticipate an escalation in bearish momentum, potentially leading to a sharp price drop. This presents an optimal entry opportunity for selling. 🎯 Trade Strategy 🎯 Given these compelling technical signals, it's time to consider a short position on EUR/USD. Look to enter the market with confidence. 📉 Take Profit Targets 📉 1️⃣ First Target: 1.06650 2️⃣ Second Target: 1.06250 3️⃣ Ultimate Target: 1.05900 Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful 🌊🚀
Short
by Thomas_Zito
9
📈 Exciting Trading Opportunity Alert! USDJPY: bull flag🚀✨Delving into the intricacies of USDJPY on the 4H TF Take a step back and witness the grand narrative of the chart—an unwavering uptrend punctuated by calculated retracements. Recently, a significant consolidation occurred at the pivotal 145.000 level, a strategic move accompanied by the emergence of a promising bull flag pattern. This pattern speaks volumes, reinforcing the notion of an ongoing trend. But the real excitement? Brace yourself for the breakout! 🚀📈 The trajectory is set for a huge leg up, mirroring the upward momentum. 🌟 Now, aligning with the persistent bullish sentiment, I'm pinpointing two juicy targets: 148.000 and 150.000. 🎯 In this intriguing juncture, let's seize the opportunity to navigate the market waves, buoyed by the prevailing trend's tide.📈🌊
Long
by Thomas_Zito
3
AlertNVDA stock just breaks out of a bullish flagThis week, Wall Street will focus on Nvidia's quarterly report as investors search for potential catalysts to rekindle the U.S. stock market recovery. In addition to a 6% gain last week, the chipmaker's shares are up 6.66% so far on Monday ahead of Nvidia's quarterly report on Wednesday. NVDA stock just broke out of a local bullish flag. Traders expect it reaches $500 in the short term. The technical target of the pattern is just below $600!
NASDAQ:NVDALong
by almmaye
6
Can HIRECT Re-Erect ?Hind Rectifiers Ltd. is primarily engaged in developing, designing, manufacturing, and marketing Power Semiconductor, Power Electronic Equipment's, and Railway Transportation Equipment's. The Co. provides complete solutions in design, manufacturing and services in the field of power electronic equipment for aviation, power, telecommunication, and various industrial plants. It manufactures Active Harmonic Filters, Constant Current Regulators, Water Cooled Rectifier, Thyristor Controlled Rectifier, etc. It offers a range of products including Stud/Flat Base/Capsule devices, Power Stack/Assemblies, and Rotating Assemblies. The Co. is involved in the transport projects of Railways, Mass Transit Projects, and Metropolitan Transport Systems and it manufactures Propulsion system, Transformers, Microprocessor, Driver Display Unit & Inverters. The Company has a strong brand and leadership position in the market for the equipment of 3Ph locomotives and LHB coaches along with the pollution control and environmental protection equipment. The Co. caters to major players such as Indian Railways and Bharat Heavy Electricals Ltd (BHEL), resulting in repeat orders from them and an increase in revenue. The Co. derives 70% of its revenue from the railway sector and increased competition and slowdown in the railway sector will hamper the growth of the company. The Co. has incorporated 2 wholly-owned subsidiaries with an objective to leverage the growth opportunities in the service activities and to leverage the growth opportunities in the E-commerce place for B2B as well for B2C business respectively. In Q4FY22, the Co. has secured orders of Rs.127.72 Cr (including an order of Rs.46.18Cr from Railways) This analysis is only my view and is in no way responsible for your trade. Please consult your financial advisor before making any investment.
NSE:HIRECTLong
by CannySunny
GOLD → Support retest indicates buyer weakness OANDA:XAUUSD has weak buying power at the moment. There is no update of local highs, the price is returning to the support retest. The probability of support breakdown is increasing On the daily timeframe the price tried to test the strong resistance 1939, a false breakdown is formed and consolidation below the level. After this phase we saw a local distribution and another retest of the downtrend support. The price is testing another support at 1935.8, consolidation below the level will create a bearish potential and in the short term the price may form an impulse to 1927. Support levels: trend support, 1935.8, 1927.5. Resistance levels: 1943.3, 1954. The probability that the support breakout will be true at this point is very high, the above described prerequisites for why the bulls are weak. On these bases, I am prioritizing a decline Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
25
Dlink has given a strong breakout!As seen in the chart, Dlink has formed a flag and pole which was broken 2 days back. The flag is a beautiful cup and handle pattern which justifies strength. This is an exceptionally good chart for a positional trade to buy on dips till 300 with an SL of 260. A swing trade is risky at CMP with SL of below 290 DCB. Targets can be 370, 400 and above. Note:- Idea is shared for educational purposes only. It should not be considered as a recommendation.
NSE:DLINKINDIALong
by chartistamey
GOLD → Consolidation below support ahead of NFP. Trap? OANDA:XAUUSD has been consolidating below the previously broken descending channel support for two days. From the basic fundamentals, this formation suggests a strengthening sentiment for further declines, but there are always nuances to it Analysts were expecting bearish news for the dollar, which was previously published, but the index is showing a bullish bias, suggesting an improving economy. Fitch downgraded the long-term rating of the US to AA+ from AAA This is not good news for the dollar, but still: The U.S. was downgraded to AA in 2011, which caused the market to fall hard, but earnings and economic conditions were different at the time. This downgrade by Fitch is not fundamental as the economy is growing and profits are rising to service this debt. In terms of technical analysis, after a rally to the 1980 area, a correction in the format of a flag-like descending channel is forming, but at some point things don't go according to plan and price breaks the channel support, forming a consolidation and forming liquidity before further declines. Ahead of NonFarm Payrolls and Unemployment Rate publication, analysts are expecting bearish data, but based on earlier press releases, the numbers could be the opposite, which could provide new bullish potential for the dollar, and gold could fall to 1900. Support levels: 1933, 1930, 1927, 1912 Resistance levels: 1943, 1954 In priority I expect the price to fall to the lower support levels, but the price can break the situation if the expected fundamental data is confirmed. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
🥇 GOLD - Retest of market support, readiness to decline Gold breaks through the 1963 resistance, but as it turns out this maneuver is false. The descending price channel is contributing to the price action, while at the same time price is retesting the support area and retracing back to that area to test the breakout attempt. TA on the high timeframe: 1) Price is approaching range support. NFP related news may negatively affect the price 2) The liquidity area against which an entry point can be formed is around 1942. A breakout or false breakdown is possible TA on the low timeframe: 1) On July 27, the price tests 1942 and forms a rally to 1973, after which the price does not go further, but comes back and tests 1942 again, but now already updating the local bottom 2) After a few hours and a retest of the liquidity area 1950-1955, the price returns to the support retest. Most likely the market is negative. 3) A pre-breakout consolidation is forming, which may break the market support under the pressure of fundamental factors. Key resistance📈: 1950 Key support📉: 1942.5
OANDA:XAUUSDShort
by AndeWave
10
BTC Falls Below $29k on Flag BreakdownBitcoin is back below FWB:29K this morning after a flag breakdown and failed attempt to hold above $30k in July. Price is now trending below the short MAs(8,21,34) with the short MAs crossing bearish in late July. Price is testing the 100ma which rests near $25.5k, a failure to hold there will likely lead to a test of the rising trendline and 200ma in the FWB:27K area. Should diagonal support and the 200ma fail to prop up price we'll likely see a continued move lower and test of horizontal support near FWB:25K as a violation of the diagonal support line will indicate that the uptrend in price since early 2023 has exhausted. The PPO indicator has been in a decline since early July with the green PPO line falling and trending below the purple signal line. This indicates short-term bearish momentum. Both lines have now crossed below the 0 level indicating bearish momentum in the intermediate to long-term. As long as the green PPO line is below the purple signal line, and below the 0 level, we can expect momentum to favor the bears. The TDI indicator shows the green RSI line has been in decline since early July with the RSI trending below the 50 level, below the purple signal line and trending in the lower half of the Bollinger Bands which all indicate a bearish trend in the short-term. The RSI is now crossing below the 40 level which indicates a potential shift to intermediate to long-term bearish trend. When the RSI is trending between 20-60 the overall trend in price is considered bearish. For now, the overall outlook and expectation for price is bearish with a continued move lower the likely move. Keep an eye on on the 100ma, a violation of that to the downside will confirm bearish bias and lead to tests of the rising trendline and 200ma, a failure to hold above those will increase the bearish outlook.
INDEX:BTCUSDShort
by PrepForProfit
🥇GOLD - The current scenario is a bear channel Gold is forming a bearish channel, the area of density on the side of resistance, which the price failed to pass, begins to pressure the market and thus makes the price of the asset weaken. TA on the high timeframe: 1) Price is still in a range 2) The bearish trend is valid 3) The liquidity area where the price can go is below 1943. TA on the low timeframe: 1) Price breaks 1963 again and forms a false break of the level 2) We should expect price to consolidate below the level, or below 1953 to look for a selling entry point 3) The price is likely to acquire a target in the form of a downtrend support area around 1940. Key resistance📈: 1963 Key support📉: 1953
OANDA:XAUUSDShort
by AndeWave
7