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NIFTY 50 - Complete Breakdown of ChartHi Traders, As we breakdown the hourly chart for short term analysis, we have a short term bearish bias on nifty 50 because it is trading below the 50SMA. Nifty 50 has closed below a major support level today. Other Key levels as per hourly chart are between 11458.05 and 11418.18 which can act as a resistance in case of a pullback. We have a support at 10897.84 and 10861.36. Now we will have a look at the daily chart. The daily shows that this counter is inside a support zone(White) and we have a resistance at 11445.87(Green). This resistance can be only for a short term because the daily chart shows we are still in an uptrend because we are trading above the 50SMA. Nifty has broken a trendline to the downside but in can still be a corrective wave. A close below 11077.42(Red) will indicate the start of a downtrend. Note:- This analysis can be used for short term and medium term analysis. We need to breakdown the weekly chart for long term investments. If u have any suggestion on which counter u need an analysis, please comment below. Pls like and follow for more. Happy Trading............
NSE:NIFTY
by Hari_krishnan_S_Kumar
7
Bitcoin Forecast for AutumnFirst, let's take a look at the RSI indicator. It got as close as possible to the overbought line and cannot break through it yet. At the same time, RSI did not show significant corrections for 6 months. Stochastic is already in the overbought zone and is now consolidating there. Also, this indicator has drawn a double top, which may be a sign of a trend reversal. Let's take a look at Bollinger Bands: You can see from the chart that the price has been above the Bollinger average line for a long time. Moreover, the chart pierced the upper border 4 times, which serves as a signal for a reversal in the classical technical analysis. We should also pay attention to the structure of the last candles. They are small in size and at the same time the body of the candles is much smaller than the shadows of the candles. This indicates that there is simply no strength to break through to the upside. We stretched the Fibonacci grid in the first chart to understand where to expect the Bitcoin price in the medium term in the fall. It shows that the closest levels at which Bitcoin can stop is $ 9,700 - $ 10,000, and then $ 7,000. For now, we can see a slight rise in Bitcoin to $13,000, as there is still some headroom to go up. However, this growth is unlikely to become decisive and will be rather manipulative, since there are no preconditions for further growth. We believe that the Bitcoin uptrend will be broken in the near future. There are many prerequisites for this, including long-term growth, starting from March 2020, which, sooner or later, should be significantly corrected.
Short
by Crypterium_Analytics
3
NZDUSD Long Trade SetupHello Traders As far as I can see, the last top was the end of the upward movement, and in this case, the drop after that should be the reversal impulse. We have a complete correction now. That's why it can be a good idea to wait for a small correction and place a pending order. My expectation is a pretty big correction for more upside, and my target will be the A wave inside that correction. 0.62300, which is 0.382 retracement of the upward movement can be a good place to book profit. Trade with care. Bulent
Short
by WaveAnalysis
Short setup for DAX30 Hello Traders !!! Hope you are doing good. I've been actively trading for 8 years now and in all my experience I have never seen the market being so out of place so this is why my favorite action now a days is to wait for the best moment to get in the market. I recommend using lower exposures. DAX as I see it is under a key area that has been resistance turned into support and now is resistance again. So i will monitor the price action inside this area and what i will do is to sell DAX from inside those levels with a target of 12250 but this is only if resistance holds in place. If it breaks above that, i will not buy. I will wait for the price to move higher and cover the gap at 13500 and from there open a sell with target back down to the area mentioned on the chart @ 13000. Patience is the key in today's market. Please share your ideas and your thoughts in the comments so we can grow together. Best of luck
XETR:DAXShort
by opentrader08
AUD might suffer after Melbourne lock-downHello Trader !!! Hope you are doing well. After yesterday's news on the lock-down of Melbourne for another 6 weeks due to COVID-19, I believe that we should see the AUD under some pressure in the next few weeks. It also helps us to see the price close to a resistance level. That gives me more confidence in the success of this trade. My target will be 0.6600 and depending on how things will progress I will extend the trade even down to 0.6400. Either way i will be happy at 0.6600. This is my opinion and in no way or form this should be considered as Investment advice. Trade at your own risk. Please share your toughs and ideas in the comment section so we can grow together. Best of luck
Short
by opentrader08
2
XLMUSDT - Medium term trading planDAILY: -MACD had a bearish cross -we saw a bearish divergence RSI/PRICE -looking to buy the area between 0.38 and 0.5 fibs wich also converges with DMA200 -needs to be checked that the 200DMA turned to strong support (check reaction around that level) -we have 100DMA crossing 200DMA up which is a golden cross and a bullish signal (retest of that area confirms the bullish setup) -VOLUME is very low which is bearish There is no upcoming event to support a run up. Tools MA's 10/20/50/100/200 (swing trade) RSI , MACD , VOLUME , FIBONACCI,DIVERGENCE STANDARD PIVOTS , CANDLES, TRENDLINES
Short
by Tzyganwu