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Parallelchanel

50EMA (Mumma Support again pulls back the child like a magnet.) 50 EMA (Mumma Support again pulls back the child like a magnet.) Nifty which tried to break the shackles of 50 EMA is again under the same and now the full zone between 19566 to 19684 is full of resistances. Nifty will be bullish only after it closes above 19684. Till then there will be stock specific action based on results. Supports on the lower side are at 19528 and 19471. Other major support of 19471 is broken will be 19423. Below 19423 Nifty becomes very weak and Bears will be calling the shots totally.
NSE:NIFTYLong
by Happy_Candles_Investment
Resistance of ATH Zone works again today and stops Nifty.Resistance of ATH Zone works again today and stops Nifty. As expected the resistance zone between 19437 and 19523 again got activated. Nifty made a high of 19515.1 and returned closing the day at 19439.4. End was just above 19437 which should act as a support no.1 for tomorrow. Further supports will be at 19419, 19399, 19337, 19296 and 19232. Again 19500 to 19523 will act as resistance zone. Crossing and closing above 19525 will open the doors for 19600 or even 19700. All eyes on the Speech of FOMC member Bullard tonight.
NSE:NIFTYLong
by Happy_Candles_Investment
Our Chart continues to work perfectlyAs you can see and we had depicted yesterday Nifty had taken a firm support at 18646 and the only now was upwards. Despite negative to Neutral US markets Nifty opened gap up above what was 50 Hours EMA, confirmed support of the EMA at 18742 for few hours and then marched ahead. The march of Nifty was halted by the Mid-Channel Line resistance at 18829 and that is where Nifty cooled down a bit to close the day at 18817.4. How is that for Precision? I hope you all are appreciating the efforts that we are putting in the analysis. What Nifty holds for tomorrow? If Mid channel line (18829) is conquered tomorrow and Nifty hold above it, we will be sooner than later looking towards re-approaching the All Time high of Nifty and probably this time around Nifty might even break it and make a new high. Resistances: 18829, 18840 and 18887.6. Post making a new high 18956 and 19018 can be very very tough resistances. Supports: If the Nifty is not able to conquer 18829 to 18840 range and sustain above it the supports will be at 18795, 18742, 18646, 18576 and 18421.
NSE:NIFTYLong
by Happy_Candles_Investment
Block Inc Long IdeaNYSE:SQ followed 102 Day Bearish trend, which was reversed 35 days ago with bullish divergences and increasing bullish volume. Since then, the trend is following a parallel channel. A trendline break out of this bullish run was confirmed 19 days ago. Trade Plan with 2 Entry Points Risky Entry Entry @ 66.60 TP @ 71.78 SL @ 63.27 Risk = 0.5% RRR = 1.56 Optimal Entry Entry @ 65.18 TP @ 71.78 SL @ 63.27 Risk = 0.5% RRR = 3.59 Since the stock is favored fundamentally, taking partials at the TP level is advisable, and letting the trade run with training SL using ATR with the multiple of 1.5.
NYSE:XYZLong
by C_T_E_Ltd
UVXY Potential Early Bear Flag Channel Entry at Moving AveragesThe UVXY is currently trading at the 89 Day EMA among other Moving Averages that it's often reversed from; if it reverses from here again and hits the bottom of the Potential Parallel Channel that will confirm the Validity of the Parallel Channel. If it breaks down from this Parallel Channel that will be a Bearflag breakdown that could take it down anywhere betwen the 1.618 to even the 2.618 which should signal a rally in the SPX. For the time being this is a speculative early entry.
CBOE:UVXYShort
by RizeSenpai
Importance of mid channel line in parallel channel tool. Last 3 weeks or so we saw the Importance of mid channel line in parallel channel tool. Thrice Mid channel line supported the Nifty and Nifty bounced from there. When a support is taken multiple times mostly it becomes weak. This led to fall of Nifty below Mid channel line. Once the price is below the line which was a support. The line becomes a resistance. Mid channel line is now a resistance and the same line is stopping Nifty from going ahead since couple of sessions. It was an important lesson hence explaining at depth. Nifty Resistance remain at: 18624, 18678, 18722 and 18778. Nifty Supports present at: 18555, 18512, 18465, 18402 and finally 18371.
NSE:NIFTYLong
by Happy_Candles_Investment
Bank Nifty Trade Setup (29-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. As posted in previous day setup that from price as Banknifty is in parallel channel with 44151 to 44071 as resistance zone and 43470 to 43370 as support zone and on 26-May-2023 price was near support zone after a sell off in previous sessions and it took support near that support zone and moved all the way up to resistance zone moving almost 400 points in a day. so far it was a good session and worked as per trade setup. ( Cannot post previous day chart to keep record of this price action have to look for previous day trade setup.) For tomorrow this will be my trade setup: 1.) If opens flat which is near resistance zone. if price doesn't hold near this resistance on 15 min TF then will look for selling after break of nearby support of 43880. If price took support on break of this resistance zone i will look for buying. (Views are bullish so will only trade against the primary trend with strict stop loss and target levels. 2.) If opens gap up above resistance zone and if takes supports above the resistance zone on 15 min TF with good candle pattern and volume. then will look for buying only for target will be open with stop loss of 44151 (ATH). 3.) If opens gap down at nearby support 43880 will look for price to take support or if it became resistance and target will be as per this parallel channel support zone which is 43750, 43650 and 43500. Things to keep in mind: As mentioned above views are bullish so will trade cautiously against the primary trend with strict stop loss and target level on downside. Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. also one can comment how i can make it better or need any improvements in my trading setups and improving this journal. as this is my only trading journal not keeping any excel or any online sheets as i never used before.
NSE:BANKNIFTYLong
by TradeInsights
NIFTY strong REVERSAL candle on WEEKLY TF#NIFTY Strong reversal candle this week & long leg Doji on Monthly Chart after 3 Consecutive months sell-off! If one had read the chart without any bias, the trend on weekly charts was up & not down. Only a break below 16740-50 levels would mean a change in trend to downtrend. The Price perfectly fulfills my last idea and moved towards the upside and also closes above the 17222+ On weekly chart. From the support zone of 16850 price moved towards the upside till the 17380+ with a bullish candle and price closes on positive note on weekly chart in the Friday session. After 3 consecutive red candle on weekly chart we closes in big green candle in the last week. Now the price can head towards the 17555--17600 level to touch the upper downward parallel channel and if price go sideways for 1 or 2 days near the upper hand of parallel channel and than breaks the upper parallel channel and level of 17600 and sustain above it than we can see tremendous move towards upside and targets will 18000/18222+ In coming trading sessions. If price unable to breaks the upper parallel channel and again respects it and face Resistance than we can again move towards the downside till the support level.
NSE:NIFTYLong
by Jha_Nidhi
DXY - TP1, TP2 or to the Top?Hey hey! Here we back again with another analysis, lots is going on lately, and we gathering more and more evidences pointing into a trend shift for the dollar, so I'm going to update DXY analysis from last time. The chart speaks for itself but let's try to add a little commenting to back it up. DXY has been taping the 115 level pretty strongly last september, and that's what started its correction all the way to the 100+ level. Since then, we're just crushing all the resistances up one after the other. Fundamentals have been highly bullish for USD lately, the main component being that inflation doesn't want to do what the Fed expects it to do. Instead of getting back under 2% like expected, it's being way more sticky, and the economy has been resilient to the Fed's interventions trying to slow it. We were expecting one last rise of the interest rates but now, looking at fresh datas, the consensus tends to say that there are going to be two more. And that translates into the chart into a strenghtening of USD. We're almost certain of one thing now, rates will be higher longer than expected. From a TA point of view, the major event that happened last week was the break of the descending channel, a nice and clear breakout. So, knowing this, it would be logical for DXY to go and get these highs, the first one being at 105.5 and the second is sitting at 108. We'll see how far the market wants to take DXY, but 108 is a strong resistance as you can see on the chart. For now on, I'm bullish on USD, and will try to buy the dips until we get to 105.5 first, then we'll see how the market reacts, and if more buying pressure is steaming then we'll help to push prices all the way to 108 Cheers everyone and safe trading!!!
ICEUS:DXYLong
by aemerydufoug
Expanded Flat Correction lines up with Various Pattern TargetsHere's a more bullish chart for Bitcoin, should the expanded flat correction play out and take us to a new ATH: *** This idea requires DXY to turn back and continue its downtrend, a resumed uptrend would likely negate this *** Expanded Flat stopped just below the 1.618 on the trend-based fib measurement (logarithmic), first stop after crossing ATH and 100% would be ~87500 at the -0.382 fib, then ~105k at -0.618, ~144k at the ~100%, and potentially even ~237k at the -1.618 All of the above (expanded flat fib extension) lines up with several common pattern targets and the fib retracement from our previous March 2020 low to our last ATH: 1.) 2018-20 Triangle - has a measured 1x TP 1 at 81k, very near the 87.5k target mentioned above. Then a 1.5x TP 2 at 241k, which very nearly matches the 1.414 fib retracement @ 225k and the expanded flat's trend-based -1.618 fib extension at 237k. 2.) Present Weekly Falling Wedge - has a measured 1.5x TP 2 at 87k, matching the expanded flat target at -0.382. The 2x measured target is at ~141k, less than 3k under the -100% trend-based fib ext from the expanded flat. 3.) The entire idea above fits perfectly into a logarithmic parallel channel uptrend. I've drawn a couple of suggested paths here within the channel, one not reaching channel top and the other reaching top, both then heading to channel bottom. If the move stays within the channel through 2025-2026, it could reach 323k.
BNC:BLXLong
by dudebruhwhoa
1
BITCOIN even more gain expected 💣 🚀Hello 🐋 we expected the retest of the support zone and ascending channel to be completed ✔️ if the price doesn't break the support zone to the downside and just complete the retest, we will see more gain, at least to our upper trend line 💣🚀 otherwise we can see more correction to lower support level ❌🧨 if breakout of the upper resistance zone be completed, we can see more pump to the upside ✔️🚀 👌 Notice: pay attention to the price on shortcut chart (located below the main chart with black colour) 📖💡 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
Long
by MadWhale
6