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USD$ is set to rise. On Monday I said the opposite: Falling I stand corrected on what I published last Monday right before the Asia session, I think a rushed analysis and when you see what you want to see in a chart to support an idea, it can all go wrong. Or did the USD$ have such a bullish week to turn the charts around in such a short space of time. I don't know but both the Daily and Weekly chart of the USDX have a very bullish W/Bottom. For those who don't know these patterns, they are basically a double/bottom or bottom1 & a bottom 2 and a W is formed as price is written up to a Neckline which is the yellow lines on the daily and weekly charts here. I initially thought and stated that the USD$ may run up to 1.11 /1.12 and from a technical standpoint of these W/bottoms that is exactly where price may end up. But lots can happen in the meantime. Briefly on Gold and Silver: The Gold price has turned around bullishly after turning down in a Double/Top for many days. This turnaround also coincides with the bottom trend-line which is also the bottom line of a Triangle formation on the daily. Next trading day I would expect Gold to continue to climb for a couple of sessions before turning back down to the trend line and bottom of Daily-triangle which is all but complete and price would then either breakdown or breakout from triangle. I think that despite the USD$ continuing to climb, the Gold price will do the same thing and climb but probably won't go to an ATH just yet. Silver has a bearish Head n Shoulders on the Daily. Price will retest the sell area next session on the daily which means the Silver price will get a false Long rally and selling will resume into the daily H n S pattern. The Silver price is right on the daily 200ema and back in January and February 2024 price got a little below the 200ema and then took off on a Long rally. Same thing expected, the HnS will play out and price will fall back a little more and then a buying spree and rally upwards will commence in Silver, possible just before the New Year.
PEPPERSTONE:USDXLong
by Easy_Explosive_Trading
Nifty Upside and downside predictionRecently, Nifty has performed poorly, causing the markets to move downward, which doesn't correlate with others. I believe this is an opportunity to grab as many stocks as possible and find the better-looking ones for the long term. Levels to watch: 23,250: If Nifty reaches this level, it could form a double bottom and continuously move upward. We can expect an upward trend until the budget and a rate cut of about 0.25 basis points, possibly even 0.50 basis points. This could shock the markets and potentially cause a downward reaction if it happens too late. This is my optimistic prediction. 22,150: If Nifty doesn't form a double bottom and continues downward, it could reach this level. 21,250: This level is almost 9% down from today. Additionally, there's a CME gap around the 20,500 to 20250 level on the weekly chart. While I don't expect such a severe drop, it's important to note. You never know about markets; they could severely go down that path. If it does, prepare yourself and get your bags ready to fulfill your dreams because it couldn't get better than this. This is a once-in-a-lifetime opportunity, so make sure to use it wisely and change your life for the better. NSE:NIFTY
NSE:NIFTY
by Mayanksinghrader
Testing //@version=5 indicator("Range Filter with Support and Resistance", overlay=true) // Inputs for Range Filter length = input(10, title="Range Length") multiplier = input.float(1.5, title="Multiplier") // Calculate Range Filter src = close basis = ta.sma(src, length) range = ta.stdev(src, length) * multiplier upper = basis + range lower = basis - range // Trend Detection trendUp = src > upper ? 1 : na trendDown = src < lower ? -1 : na trend = ta.valuewhen(trendUp or trendDown, trendUp ? 1 : -1, 0) // Support and Resistance Levels lookback = input(20, title="Lookback Period for Support/Resistance") support = ta.lowest(low, lookback) resistance = ta.highest(high, lookback) // Plotting plot(upper, color=color.new(color.green, 70), linewidth=1, title="Upper Range") plot(lower, color=color.new(color.red, 70), linewidth=1, title="Lower Range") hline(support, "Support", color=color.blue, linestyle=hline.style_dotted, linewidth=2) hline(resistance, "Resistance", color=color.orange, linestyle=hline.style_dotted, linewidth=2) // Background Color for Trends bgcolor(trend == 1 ? color.new(color.green, 90) : trend == -1 ? color.new(color.red, 90) : na) // Alerts for Breakouts alertcondition(src > resistance, title="Price Above Resistance", message="Price broke above resistance!") alertcondition(src < support, title="Price Below Support", message="Price broke below support!")
NSE:NIFTY
by Vasudevfor
[Education] The Brutal Truth About Trading DisciplineHere's what nobody tells you about trading discipline. It's not about motivation or willpower. You can't just "try harder" to be disciplined. If it were that simple, everyone would be profitable by now. Think about these scenarios. You see a setup forming but it's not quite perfect. You take the trade anyway because "close enough is good enough". Your stop loss is about to get hit, but you move it because you "feel" the market will reverse. You're down for the week and decide to risk 5% instead of your usual 1% to "recover losses". Sound familiar? These aren't strategy problems. These are discipline problems. Why Discipline Is Harder Than It Looks When you're backtesting, everything seems easy. You can fast forward. Drawdowns can be recovered easily. You don't feel the emotional impact of losing trades. You're not watching your real money disappear. But in live trading, every loss feels personal. It sucks when you miss an opportunity that could have given you a homerun trade. When a winning trade turns into a loss, you feel like pulling out your hair. I remember one trade where I had a perfect setup. Everything aligned with my trading plan. I got greedy. I didn’t close my trade at 2R profit as planned. I held onto the trade. The market reversed. My winning trade turned into a loss. That one moment of indiscipline cost me $500. But the real cost was much higher. It damaged my confidence and made me doubt my strategy. The Hidden Cost of Lack of Discipline Let's talk numbers. A strategy with 40% win rate and 1:2 RRR is profitable. However, if you cut winners early, that same strategy becomes a losing one. Instead of closing at 1:2 RRR, you closed at 1:1 RRR. With an average of 1:1 RRR, you need at least a 50% win rate to be breakeven. Things will get worse if you increase risk. If you increase your risk and lose, that one bad trade can wipe out a month of profits. The Framework That Changed Everything After blowing multiple accounts, I developed this simple framework that transformed my trading: Pre-Trade Checklist Write down entry, stop loss, and target BEFORE entering Calculate position size based on 1% risk Take a screenshot of your analysis Compare setup with your trading plan During Trade Management No looking at charts if you're set-and-forget No moving stop losses unless to breakeven No adding to losing positions No checking P&L constantly Post-Trade Review Journal every trade, win or lose Score yourself on discipline, not profits Review weekly to identify patterns Celebrate when you follow rules, regardless of outcome The Psychology Behind Discipline Here’s something interesting. When I trade funded accounts, my discipline improves dramatically. Why? Because it's not my money. I treat it like a business. It’s capital I would lose if I am not disciplined with my trades. This taught me something crucial. To be disciplined, you need to trade like a business, not a gambler. You have to focus on the process, and not the outcomes. You won’t be able to predict the outcome anyway. Accept that losses are part of trading. They are your business expenses. Once you’ve accepted that losing is inevitable, you will be able to keep your emotions out of trading. Taking Action: Your Next Steps Here’s what you should do next after learning from my framework. First, start small. Use a demo account to practice following rules. If you want to trade live, then trade minimal size while you build your discipline in trading. Only scale up when you can follow your plan for 20 trades straight. If you break your rules for 1 trade, restart the whole process. Next, create accountability for yourself. Share your trades with a mentor or trading buddy. Post your analysis online before entering trades. Review your trades at the end of the week. See if you have broken any of your trading rules this week. Lastly, build better habits. Set up your trading environment for success by removing distractions during trading hours. Keep your phones and social media away from you. Create a pre-trade ritual. That can be meditating, or simply just close your eyes. Remember to also reward yourself for following rules, not for profits. The Transformation You Can Expect When you are disciplined, your equity curve becomes smoother. You will not see a big drop in your equity curve due to excessive loss taken on 1 trade. Your stress levels decrease and confidence increases. You aren’t afraid of being wrong and being FOMO’d into entering earlier. As such, your results become consistent. Remember, every successful trader you admire has gone through this same journey. The difference between them and the 95% who fail isn't their strategy. It's their discipline. I'm now managing multiple six-figure funded accounts, not because I found a better strategy, but because I finally learned to follow my rules. The question isn't whether you know what to do. It's whether you can do what you know you should do.
SP:SPX
by Keeleytwj
Bank Nifty | Pre-Market Report | 23 Dec ~ 27 Dec 2024Bank Nifty too has been massacred by the brutal selling last week! If we look at the weekly chart, the weekly candle close has wiped out almost the last one month of Buying in a single blow! However, Bank Nifty still seems the stronger of the two indices when compared to Nifty. For the upcoming week, Bank Nifty seems likely to trade between 52,900 & 49,700 The sentiment would be Sideways to Bearish. Option sellers could benefit from Straddles on a Weekly Expiry basis. Option buyers should look for reversals at boundaries for best risk reward opportunities. Presently Bank Nifty is at the crucial strong support zone line a Weekly Charting basis which is also the 50-Week Moving Average zone. For now, it is advisable to trade these boundaries and see how Bank Nifty plays out in the coming weeks.
NSE:BANKNIFTYShort
by Sky_Tracer
Nifty | Pre-Market Report | 23 Dec ~ 27 Dec 2024Nifty has been massacred by the brutal selling last week! If we look at the weekly chart, the weekly candle close has wiped out the last one month of Buying in a single blow! This clearly has signalled that we are in a Bear Market Grip. For the upcoming week, Nifty seems likely to trade between 24,400 & 23,155. The sentiment would be Sideways to Bearish. Option sellers could benefit from Straddles on a Weekly Expiry basis. Option buyers should look for reversals at boundaries for best risk reward opportunities. Presently Nifty is at the crucial Neck line on the Weekly Charting basis which is also the 50 Week Moving Average zone. Looking at the intensity of previous week's crash, this upcoming week could be a pause and then we could have a further downside crash towards 22,600 which is the 50% zone of the long term Weekly charting trend. If 22,600 doesn't hold then we will ultimately find good support around 22,000 level which is also the 100 Week Moving Average.
NSE:NIFTYShort
by Sky_Tracer
1
NAS100 DEC 23 -27 MARKET BREAKDOWNAnalysis Based on the Chart: 1. Bullish Context: The overall trend is bullish, and the market has recently pulled back to a key support zone: • The 50% Fibonacci retracement level aligns with both historical support and a daily bullish order block (OB). • Price action respecting this level suggests a potential continuation to the upside. 2. Daily Break of Structure (BOS): The BOS on the daily timeframe confirms a shift to bullish momentum, indicating that higher highs could be the next target. 3. Liquidity Sweep: The sharp pullback appears to have cleared out liquidity (stop-loss clusters from retail traders) below the recent swing low. This is a common pattern before a bullish push. 4. Confluences for Entry: • The pullback to the Fibonacci 50% level gives a high-probability entry point. • The price has respected both dynamic support (trendline) and horizontal support at the bullish OB.
FX:NAS100Long
by Saint876
3
NIFTY50.....Wave y up?Hello Traders, the NIFTY50 extend his gains to 24857 on December 05th! After, a sharp decline to 23537 occurr. This move took the shap of a flat in progress, and if so to come, the next move would be to the upside. Targets remain from 24537 to 25234 area. Note the detailed count. The advance from the December 5th low is three waves and so a wave w! The decline is an, so called, "whatever correction", and the possible move to the upside, if so to come, must be an ("a-b-1-2-3-4-5")-y advance! Thereafter a decline to lower lows below 23263 should be next! But it is to early to judge and we have an eye to the facts. In fact! If this move was all of the correction (@ 23263) the next move is an impulse to new highs in the coming weeks. Have a great week..... Ruebennase Please ask or comment as appropriate. Trade on this analysis at your own risk.
NSE:NIFTY
by ruebennase
2
The S&P500 is struggling to reach its previous peak The S&P500 is approaching the 5914-5892 support range on the one-hour timeframe after a price decline. This area acts as strong support due to previous reactions and a crossover with the 50% Fibonacci retracement level. The price reaction to this support area indicates buyers’ willingness to increase their strength. The bullish candles that will form after hitting this level indicate a possible price reversal. If this level holds, a move towards the targets of 6033 and then 6126 is possible in the short term. However, a break of the support level of 5892 could lead to a further decline and a drop to lower ranges. Traders should pay attention to the price reaction to these ranges as well as trading volume.
OANDA:SPX500USDLong
by arongroups