Get started

Relative Strength Index (RSI)

Last Leg To The Finish Line - UCHFHere I have USD/CHF on the Daily Chart! Now we've been following USD/CHF since it created its NEW LOW back in Dec. '23. This LOW I believe sparked the beginning of an Elliot Wave and currently we are looking at what seems to be a possible LAST LEG of this Impulse Move! Price has currently created a HIGHER HIGH @ .90721, so we will be looking for Price to either: 1) Finish its BULLISH run to the Fib-Ext Ranged Target @ ( .91572 - .93426 ) -OR- 2) Look to make another Retracement to the ( .88726 - .88418 ) B/C Zone for another Potential Entry to surf the Wave the rest of the Way! *RSI is showing we are currently Over-Bought, so this leads me to believe we could see price descend to our Zone. Fundamentally- -The BIG contributor to this scenario is with the SNB being the FIRST this year to cut their Interest Rates making the CHF look less attractive to investors & The FED holding rates gives the USD a Leg UP! *Forecasters for Next Weeks News (Apr. 1 - Apr. 5) are leaning towards Bullish Outcomes so that could help feed the Bullish Mindset of traders for USD to start the new month off but ANYTHING can happen so BE MINDFUL OF NEWS!!
Long
by Novi_Fibonacci
35
GBP/USD maintains upward despite dipping to 1.2550 post-US NFPThe British Pound continues its upward momentum against the US Dollar, however, there has been a decline below the 1.2550 mark after surging to a high in the past three weeks at 1.2634 following the release of the US Non-Farm Payrolls (NFP) report. On the 4-hour chart, the Relative Strength Index (RSI) has been trading above the 50 level and continues to trend upwards without any signs of change. This indicates stability and the continuation of the bullish trend in the market.
by Lily_Anna
Gold Stabilizes Below 2,300 USD Amid Market FluctuationsGold traded below the $2,300 mark during Friday's U.S. trading session following the release of the Nonfarm Payrolls and Unemployment Rate report. However, gold still maintained stability and closed the session around the $2,300 level. On the daily chart, gold continues to show an upward trend, despite dipping to $2,227. Technical indicators are still supportive of this trend continuation. The Relative Strength Index (RSI) remains above the 50 midpoint. Nonetheless, the risk of price decline persists if XAU/USD drops below $2,300.
OANDA:XAUUSD
by Lily_Anna
XAUUSD: Gold Maintains Stability Around 2,300 USDGold recorded a slight increase to near $2,230 in Thursday's US trading session, amidst optimistic market sentiment, declining US treasury bond yields, and a weaker US dollar. In the Asian trading session on Friday, the price of gold continued to maintain stability, fluctuating around the $2,300 mark. Based on technical analysis on the 4-hour chart, the Relative Strength Index (RSI) still remains below 50, indicating that the optimism is not yet fully stable. However, there are signs of recovery, with the RSI expected to rise to the Fibonacci 0.5-0.618 range. This presents an opportunity for further price increases, likely to attract the attention of investors.
OANDA:XAUUSD
by Stephen_Anders
10
EUR/USD Holds Firm Above 1.0700 Ahead of US Jobs ReportEUR/USD gained traction in the second half of the day on Thursday, maintaining its consolidation phase above 1.0700 into Friday as investors geared up for the highly impactful data release of the week, the April US employment report. Positive shifts in risk sentiment were observed, which exerted downward pressure on the US Dollar during Thursday's US trading session and aided EUR/USD in reversing course to the upside following declines seen during the European trading session. From a technical standpoint, the Relative Strength Index (RSI) on the 4-hour chart continues to hold above 50, and EUR/USD remains steadfast above the Simple Moving Averages (SMA) of 100, 50, and 20. This indicates that the upward trend remains intact and is likely to persist in the near term.
by Stephen_Anders
2
EUR/USD: Maintaining Upward Trend Channel !Overal, the EUR/USD pair continues to maintain an upward channel, sustaining stability around the 1.0730 level in the Friday's Asian trading session. This stability is attributed to investors awaiting the April employment report from the United States, which will include non-farm payroll data and the unemployment rate. Looking at the chart, it shows that technical indicators are supporting the upward trend. The Relative Strength Index (RSI) is trading near the 60 level, indicating the strength of the upward trend.
by Daisy_Anna
📈Intraday Analysis:Identifying Short Entry Points For Bitcoin👑🔍In today's market, we witnessed a minor downturn as the support at 6115 was breached, signaling a brief downward trajectory. However, a significant bounce occurred at the first critical support level of 56708, indicating a corrective move towards the upside. As anticipated in the previous analysis, a rejection from 66480 validated the dominance of sellers, leading to the breach of the 61115 support level and initiating a downward trend. 📈Now, let's focus on identifying new entry points amidst this market correction. Currently, I perceive the market to be bearish, hence the entry points I'm proposing are for short positions. I'll refrain from considering long positions until the downtrend is decisively broken and the trendline trigger is activated. ✅We have two promising entry points for short positions during this correction. Firstly, the Price Rejection Zone (PRZ) ranging from 60000 to 61115 is a formidable area of both support and resistance, coinciding with the Fibonacci Golden Zone. Additionally, the SMA25 acts as resistance within this zone, potentially acting as a pullback point for the upward movement. Therefore, upon confirmation of a bearish candlestick pattern or a breach of short-term support levels on lower timeframes such as the 1-hour and 15-minute, entering short positions within this zone could be opportune. ⚡️However, this entry carries inherent risks. Alternatively, if you prefer a more conservative approach or miss this entry point, a safer option is to enter a short position upon the breach of the 56708 support level. Let's delve into the distinctions between these two entry points: 💎The first entry point poses a lower risk of invalidation and potentially higher profits in the event of a market decline. However, it also entails higher risk and may require a longer holding period within the position. Conversely, the second entry point is less likely to be invalidated and provides additional confirmation but may result in missing out on potential profits due to a stronger bounce. 💸Regarding targets, our initial target for this correction is set at 52437. Additionally, if the RSI enters oversold territory and breaks below the 23.79 support level, we can expect further downside movement, potentially reaching the aforementioned target. 📝In conclusion, amidst the current market correction, identifying strategic entry points for short positions is essential for capitalizing on potential downward movements. Traders are advised to carefully consider their risk tolerance and choose entry points that align with their trading strategies.
Short
by itsparham96
📈Analyzing OP: Fundamentals and Technical Outlook💎🔍Today, we delve into the analysis of Optimism (OP) coin, a leading project in Ethereum Layer 2 solutions. Being one of the earliest and most reputable Layer 2 solutions, Optimism has garnered significant attention, particularly from DeFi enthusiasts, due to its substantially lower transaction fees compared to Ethereum. This has allowed users with limited capital to participate in DeFi and reap profits, further boosting its popularity within the crypto community. 📰Fundamentally, Optimism has demonstrated its potential with a daily trading volume of $500 million across 38 markets. Now, let's shift our focus to the technical aspects. Nearly a year since its listing on Binance, Optimism reached its all-time high (ATH) of $4.865 in early 2024. Presently, after a corrective phase, it has found support around $1.8 and currently resides at approximately $2.77. The next significant resistance lies at $2.943, with expectations high for its eventual breach. 📈The weekly timeframe indicates an upward trend, despite a recent selloff candlestick accompanied by significant volume, suggesting the possibility of further upward movement if green volumes begin to increase. However, persistent selling volumes and the SMA25 acting as resistance, particularly aligning with the $2.943 level, present a formidable barrier that could impede price action. 🛒In the event of further correction, a buying opportunity may arise in the range of $1.97 to $2.3, but it's advisable to exercise patience and wait for candlestick confirmation before entering the market. Subsequently, lower timeframes such as the daily can provide additional confirmation for our buy signal. ✅Our initial target is set at the ATH, with further targets to be identified upon consolidation above this level, utilizing Fibonacci extensions to pinpoint higher targets and resistances. Regarding the RSI, maintaining support at 41.7 is crucial to avoid potential heavy bearish pressure on the coin. 📝In conclusion, Optimism (OP) coin presents a compelling opportunity for traders, supported by both fundamental strengths and promising technical indicators. Traders are advised to exercise caution, await confirmation signals, and implement effective risk management strategies to navigate the market successfully.
Long
by itsparham96
Triple Top Breakout - RECLTD 📊 Script: REC 📊 Sector: Finance 📊 Industry: Finance - Term-Lending Institutions Key highlights: 💡⚡ 📈 Script is giving breakout of Triple Top pattern of daily chart with volume. 📈 Today was the result date and numbers are pretty good. 📈 Trading at upper band of Bollinger band and giving breakout of it. 📈 MACD and Double Moving Averages are giving Crossover. 📈 RSI is around 70. 📈 Initially we may see some profit booking because stock was up almost 10%. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 507 🟢 Target 🎯🏆 - 551 ⚠️ Stoploss ☠️🚫 - 488 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:RECLTDLong
by radha_23
4
🔥 Bitcoin Blood In The Streets: A Great Buy Opportunity?""The time to buy is when there's blood in the streets." A quote that most traders are familiar with. It basically means to buy assets during periods of weakness. Bitcoin is currently experiencing a very volatily bearish period. With a daily RSI sitting around 32 points, it takes just one red day for the daily RSI to hit oversold levels. During strong long-term bullish trends, buying when the daily RSI hits oversold generally indicates a great time to buy. Seeing that the overall trend has been bullish for almost 1.5 years, I wouldn't pass on a potential swing-trade. Chances are that this is the final dip before 100k. Do I know for sure? No. However, it's a bet I'm willing to take. My overall perception is that there's likely more selling ahead from this point, but we cannot ignore statistical data. You buying the dip? Interested to hear your thoughts.
Long
by FieryTrading
8
📈Potential Short Opportunity in FTM: Technical Analysis🔥🔍In today's analysis, we observe a continuation of yesterday's market movement, characterized by a minor downward trend. Yesterday's correctionary movement, as discussed in our previous analysis, has extended into the London time frame today. This movement has nullified all corrections suggested yesterday, indicating the potential for a second wave of decline in altcoins, notably in FTM/USD. ⚡️Our focus today is on positioning for a short trade in FTM/USD, leveraging a strong trigger point at $0.6267. This level currently serves as the coin's primary support, and should a candle close below this mark, it could signal a continuation of the downward movement. Our entry point for short positions aligns with this trigger, allowing us to capitalize on further market decline and potentially maximize profits. ✅The initial target for this short trade is identified at the 0.786 Fibonacci extension level, residing around $0.54. With the price having moved approximately 13% towards this target, setting a logical stop-loss can offer an attractive risk-reward ratio for our position. It's crucial to remain vigilant as the price approaches this support level, ensuring readiness to execute short positions upon confirmation of volume surges and support breaches. 📈From a wave perspective, this movement could potentially constitute a significant wave, necessitating full commitment to maintaining short positions in the event of a breakthrough at this critical support level. Volume indicators strongly suggest a bearish sentiment, with price showing a greater inclination towards decline rather than ascent. Therefore, it's reiterated to remain prepared to re-enter short positions upon volume surges and the breach of the $0.6267 support. ⏳Regarding timing, a period of rest appears adequate, as indicated by the SMA7 reaching candlesticks, potentially exerting downward pressure on the price. In the event of failure to do so, we may anticipate price consolidation until it aligns with the SMA25. Despite multiple attempts, the SMA99 has thus far maintained market bearishness, failing to stabilize above it despite three price encounters. 📝In conclusion, FTM/USD presents a compelling short opportunity, with technical indicators aligning for a potential continuation of the downward trend. Traders are advised to remain vigilant, adhere to risk management principles, and capitalize on short positions upon confirmation of key support breaches. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
Short
by itsparham96
📈ADA Market Analysis: Navigating the Current Trends🎯🔍et's embark on our daily market analysis journey. The market witnessed another minor downturn recently. Bitcoin's dominant bullish candles may have overshadowed, causing altcoins like ADA to experience further decline. Among these altcoins, ADA, which we previously analyzed, remains under our scrutiny. 🔄First and foremost, let's review the trading triggers provided in the previous analysis. For long positions, as previously mentioned, a breakout and consolidation above $0.5886 could have initiated a long position, offering a commendable 5% profit with a modest 2% stop loss. However, it's crucial to acknowledge that for long positions, the risk should have been lower. Therefore, if you've earned more than 0.25% to 0.5% profit, a reassessment of your risk management strategy is warranted. For short positions, our trigger was at $0.5633, offering an attractive risk-to-reward ratio of 2 to 3%. Hopefully, you've leveraged these insights for profitable trading endeavors. If not, fret not; every day presents new opportunities in the market. 🔔Now, let's delve into the chart analysis. A cursory glance reveals a predominantly bearish trend on the 4-hour timeframe. While weekly and monthly trends are influential, for day trading, we primarily focus on the 4-hour timeframe, followed by the 1-hour and 15-minute timeframes. Currently, the daily trend is transitioning from bullish to bearish, with a potential confirmation upon breaking and consolidating below $0.43. However, until then, the bullish trend persists, albeit with weakening momentum. Given these interpretations, it's prudent to prioritize short positions and manage risk accordingly, with a greater percentage of risk allocated to short positions. 📈As for the long positions, exercise patience! The first obstacle is the trendline resistance, which has been a steadfast resistance since the beginning of the downtrend, continuing to exert its influence on price. Therefore, await a definitive breakthrough of this trendline and subsequent consolidation above it. The box trigger is at $0.5198, suggesting patience until this level is breached for long positions. 📊Regarding indicators, the recent surge in volume triggered a sharp downward movement, indicating selling pressure. The RSI's oversold optimized level is at 26.99, suggesting that significant downward momentum may initiate below this threshold. ✅Lastly, SMA25 and SMA99 act as significant resistance levels above the price, reinforcing the bearish sentiment. 📝In conclusion, as we navigate the currents of the ADA market, exercise caution, patience, and strategic risk management. Remember, each day offers new opportunities, so maintain composure and seize them wisely.
Short
by itsparham96
NIFTY DAILY - 30/4/2024Nifty opens gap up and hits records high which is 22783 level but didn’t sustain at upper level, into last trading hour nifty wipe out all day gain nifty was up by almost 120 points and turn negative -38 points. Nifty has formed bearish Belt Hold Candle on daily chart which indicates participants were selling from day high. RSI is around 57. Nifty is able hold 22600 level so, further resistance will be 22700 level with support of 22425. Today’s Advance Decline ratio of NIFTY50 Advance - 24 Decline - 25 Unchanged - 1 FII Buy + 1071.93 crores DII Buy + 1429.11 crores. ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:NIFTY
by radha_23
📈Exploring Atom's Market Moves: A Detailed Analysis⚡️☀️Today, let's delve deep into the intricate dance of the market, particularly focusing our attention on Atom. As we navigate the current landscape, it's evident that the market is still caught in a state of indecision, oscillating without committing to a definitive direction. However, amidst this uncertainty, there's a subtle shift in momentum—a slight dip followed by a surge in selling volume. Could this be the prelude to a more significant move? 🔄🎯Reflecting on our previous discussions surrounding Atom, it's noteworthy that our trading triggers have been quite active. The long trigger was activated, followed swiftly by the short trigger, resulting in a commendable 32% target hit. Kudos to those who capitalized on this opportunity! 🔍Now, turning our attention to today's analysis, Atom finds itself retracing to the 0.382 Fibonacci level, comfortably nestled within the confines of its range box. Our focal point lies on the critical support level at $7.808. Should this support falter and find stability below, it may pave the way for a compelling short position. Reinforcing this perspective, the RSI indicator dipping below 32.71 lends credence to the bearish sentiment. 📉For those considering long positions, keen observation of the $8.914 level is warranted. A bounce from this level could serve as a potential trigger for long entry, although without such confirmation, we remain in search of a clear long signal. 💎Furthermore, let's not disregard the significance of SMA99, which has demonstrated resilience as a dynamic resistance barrier, repelling price action on two occasions. 📊In navigating these volatile market conditions, it's imperative to maintain composure and discipline. Impulsive trading decisions are best avoided, as they often lead to unfavorable outcomes. Instead, let's remain vigilant, adhere to our trading strategies, and prioritize effective risk management practices. 📝In conclusion, as we navigate the intricacies of Atom's market trajectory, let's approach with caution, patience, and a keen eye for potential opportunities amidst the uncertainty. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
by itsparham96
📈In-Depth COMP Analysis: Unveiling Trading Opportunities💵🔅Today, I'm excited to delve into a comprehensive analysis of COMP, providing valuable insights to aid your trading decisions in this dynamic market environment. 🔍To begin, let's take a closer look at the current state of the market. As we've observed, the cryptocurrency landscape continues to oscillate within a range-bound pattern, presenting both challenges and opportunities for traders. Amidst this backdrop, individual assets like COMP offer intriguing prospects for short-term trading strategies. ✅COMP, on the daily timeframe, has recently encountered a pivotal support level, triggering a phase of consolidation and corrective price movements. Notably, it has retraced to the 0.382 Fibonacci level, aligning with its broader range-bound behavior. Concurrently, a discernible downward trendline curve is exerting pressure on prices, although the selling volume appears to be waning—a potential indication of diminishing bearish momentum. 📈For those venturing into futures markets, a potential short entry could materialize following a decisive break below the $49.68 level, with a downside target around $39.54. However, it's crucial to exercise prudence and closely monitor price action, particularly for any signs of strong buyer presence that may prompt a reassessment of short positions. Additionally, a confirmed drop in the Relative Strength Index (RSI) below 30, coupled with stabilization, could signal an imminent sharp decline, warranting heightened attention. 📉On the flip side, for traders eyeing long positions, patience is paramount. It's advisable to wait for a clear breakout above the trendline curve, preferably accompanied by a breach of the trigger level at $59.75, before considering entry. Even for existing long positions, caution is advised, as formidable resistance lies ahead at $66.25, with the 0.618 Fibonacci retracement level remaining intact. In the spot market, a significant trigger for long positions stands at $95.77, representing a critical barrier from previous major upward moves—a breach of this level could herald a robust uptrend. 📝In conclusion, as we navigate through the twists and turns of the market, adaptability and vigilance are key. Remember, successful trading requires a judicious blend of technical analysis, risk management, and emotional discipline. Stay informed, stay patient, and above all, stay safe. 📣I'm eager to hear your thoughts and insights on this analysis. Let's continue to learn and grow together in this ever-evolving trading landscape. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
by itsparham96
AKRO At Least 1500% Move Is On The Table! New ATH Is ComingAKRO Has One Of The Most Clear And Perfect Charts Among The Market. In Classic View, It Formed So Sweet Patterns And All Of Them Did Exactly Well, Now We're Going To Look At It's Chart From Super-Big Picture And Find The Very Ultimate Pattern . Let's Go. 1- The First And The Most Important Thing Is The Monthly Change of Character ( CHoCH ) That Happened In Aug 2023 In Form Of a Powerful Big-Ass Candle. Monthly Chart Is One Of The Most Important Time-Frames Among The Others, Isn't It? As You Can See On The Chart Below, It Broke The Last High Caused the Bottom, So We Identify It As The CHoCH. From That Date, We Were Looking For The Best Entry Opportunity Until Now, Maybe The Best Time To Enter. Because The Break-Of-Structure (BOS) Is Going To happen In Coming Weeks. Price Reached The Monthly Support Zone Which Formed As a Red Hammer Candle. Do You See It? The First Step Was Detecting The Support Zone, The Second Step Is To recognize Reversal Elements Forming On That Support. So Let's Dive Into It! 2- There Is No Reversal Pattern Seen On The support Yet But : Very Strong RSI Bullish Divergence Seen On The Daily Chart Exactly On Monthly Support That I Mentioned Before. Price Is Making Lower Lows While RSI Is Making Higher Lows On Daily. The First Sign ... 3- Trend-Line Just Broke On weekly To Gather Liquidity, So a Heavy Come-Back To The Upside Is coming, Which Will Lead To Shatter All Of The highs And Perhaps Reach a New All-Time-High. There Are Two Weekly FVGs That Should Get Filled In The Future Highlighted On The chart. Take It So Serious ... 4- There Was a Head And Shoulders Pattern, Done In The Weekly, The PullBack Phase Almost done On The Weekly! Are You Ready To Rebound? 5- Now, Take More Distance From The Screen, Watch The Chart From Bigger Picture. The Ultimate Pattern That Akro Is Making On The Monthly chart, Is a Huge Cup And Handle. After Breaking The Top Side Of The Handle, It Will Throw Into The Sky, Probably In Search Of a New All-Time-High ... 6- Just See The Other Side Of The Box! Price Action Is Making a Three-Drive Pattern In Weekly Towards Major Liquidity Pool. The Only Concern ... But Don't Be Worry, After That We Can See Jump In Price In form Of a QM Pattern. Follow, Like, Share And Comment Below If You Enjoyed This Idea. See You On Top!
Long
by Trading-Mechanics
2
Will DXY break Descending Channel at Support?!Here I have the DXY on the 4Hr Chart! For the past 2 weeks, Price on DXY has been steadily falling! With our Highs and Lows marked, we can see that Price is outlining what looks to be a Descending Channel! If price continues to follow down this channel, I suspect that the ( 105.53 - 105.025 ) Support Zone will be the area price will Most Likely find support to push higher!! What I want to see is Price test the Falling Support of the Descending Channel for a Third Time with a successful bounce ultimately turning this Descending Channel into a Bull Flag Pattern! -For added confirmation, once the next low is formed, I'd like to see: 1) The low be Equal too OR LOWER than the Second test of the Falling Support 2) A Bullish Divergence to appear on the RSI so underlying direction Fundamentally to finish the week: Advanced GDP, Unemployment Claims, Pending Home Sales (Thur) Core PCE, UoM Consumer Sentiment (Fri) -Another big fundamental factor to DXY strength will be the results from JPY Policy Rate decision and Core CPI released Thur!
TVC:DXYLong
by Novi_Fibonacci
Cold "Shoulder" from AUDUSD - Head & Shoulders FormingHere I have AUD/USD on the 1Hr Chart! Price has found quite a Support @ .64848! Not only that, but we have 2 Clear Tops and price is working on a 3rd!! If price is unable to move any HIGHER than this Resistance @ ( .65296 - .65246 ), I suspect price will move back down to the Support or "Neckline" and with that, will have completed a VERY STRONG reversal pattern called HEAD & SHOULDERS!! Adding confluence to this idea is the Divergence forming based on the Highs on the RSI -INVALIDATION of Pattern will be if Price Breaks and Closes ABOVE ( .65296 - .65246 ) -CONFIRMATION of Pattern will come if Price Breaks and Closes BELOW .64848 *If CONFIRMED, will be looking for Selling Opportunities!!
Short
by Novi_Fibonacci
4
📈 Market Analysis of APT in the 4-hour Timeframe🚀🔍The market is currently still consolidating, and we've reached the bottom of the range box. We're waiting to see if the price will continue to move upwards within this range or if it will finally break out of the box and move downwards. Given the sensitive nature of the market, we're examining the 4-hour timeframe to identify potential triggers for trading opportunities. 🌐Over the past two days, the market has been moving downwards, and some coins, including APT, have reached the bottom of their range boxes. In general, we're dealing with a range-bound market where participants are gradually being eliminated with each touch of the box's ceiling or floor. This is a natural characteristic of the market, similar to how consistency and perseverance lead to success in personal life or any other profession. 📉Now, let's delve into the analysis of APT based on price action. Since April 12th, APT has reached the bottom at $8.69 and corrected to the 0.5 Fibonacci level, which is approximately equal to the resistance at $10.23. This range between $8.69 and $10.23 has persisted, and we've now reached the bottom of the box. The volume has been decreasing over time, which is natural as traders gradually exit the market. 🔄The RSI has also moved out of the oversold territory and is currently resetting, potentially confirming its trigger after the breakout. 🎯After analyzing the candlesticks, we need to identify entry triggers. There's a significant support level at $8.69, which could push the price back up. If the price returns from here and moves upwards, $9.14 could serve as a suitable trigger for scalping towards the box's ceiling. However, traders should be quick to take profits and not expect a risk-to-reward ratio higher than 2 to 3. If $8.69 fails to hold the price and is broken, we can expect the price to establish new lows. 📈For a long position, the primary level to watch is currently $10.23. However, if the price reaches this range and shows a different reaction, traders can consider opening positions based on the new trigger. 💰Regarding higher volume, it's decreasing over time as traders exit the market. However, with the fixed range volume profile, the Point of Control (POC) overlaps with $9.14, which could push the price downwards and break $8.69. On the other hand, high trading volume in this area could lead to significant buy orders, resulting in a large candlestick and reaching the box's ceiling. ⚡️For RSI, the oversold level is currently at 28.63, and I'm not considering 30 as oversold for now. For a long position, breaking $9.14 could coincide with breaking 39.2. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
by itsparham96
Triple Bottom Breakout - Keep An Eye - BANKINDIA📊 Script: BANKINDIA 📊 Sector: Banks 📊 Industry: Banks - Public Sector Key highlights: 💡⚡ 📈 Script is giving breakout of Triple Bottom on daily chart. 📈 Stock was facing resistance at 149 level, today it has given breakout and closed at 150, keep an eye on stock it may give good rally. 📈 Script is trading at upper band of BB. 📈 MACD is giving crossover . 📈 Already Crossover in Double Moving Averages. 📈 Right now RSI is around 63. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 150 🟢 Target 🎯🏆 - 161 ⚠️ Stoploss ☠️🚫 - 144 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:BANKINDIALong
by radha_23
1
EUR/USD Maintains Steady Upward Trend Amid Softening USDEUR/USD maintains an upward channel oscillating around the 1.0700 level. The weakening strength of the USD is gradually paving the way for a gentle rise in this currency pair. From a technical standpoint, we observe that EUR/USD continues to hold above the simple moving averages (SMA), while the relative strength index (RSI) remains around the 60 mark, indicating stability in the upward trend. Expectations for further price increases in this pair will encounter a resistance level at 1.0714, potentially shaping the trajectory of its future upward movement.
by Daisy_Anna
Gold Stability Amidst Rising US YieldsGold remains stable amidst a downward trend, given the backdrop of rising US yields. Reduced tensions in the Middle East contribute to market stability, albeit dampening the demand for gold. Looking at the one-hour chart, it's evident that gold's potential for price appreciation is still constrained. The Relative Strength Index (RSI) has solidified around the 40 mark, indicating a significant decline in upward momentum within the downtrend. Furthermore, the formation of a triple top pattern along with substantial price declines also signals a clear phase of market weakness.
OANDA:XAUUSD
by Daisy_Anna
2
Symmetrical Triangle Breakout - NETWEB📊 Script: NETWEB 📊 Sector: IT - Software 📊 Industry: Computers - Software - Medium / Small Key highlights: 💡⚡ 📈 Script is giving Symmetrical Triangle Breakout on 18th April but there was no rally todays candle is giving breakout of that little consolidation so we may see some good rally. 📈 Script is trading at upper band of BB. 📈 MACD & Double Moving Averages are giving crossover . 📈 Right now RSI is around 61. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 1730 🟢 Target 🎯🏆 - 1890 ⚠️ Stoploss ☠️🚫 - 1664 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:NETWEBLong
by radha_23