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Technical Analysis

SWING IDEA - TORRENT POWERTorrent Power, a major player in the power sector, is showing strong technical signs of a swing trading opportunity. Reasons are listed below : 1650 Support Zone : The 1650 level has acted as a strong support zone, and the price is holding steady around this level, indicating potential upside. Bullish Engulfing Candle on Daily Timeframe : A bullish engulfing candle on the daily chart suggests strong buying momentum, indicating that the stock may reverse from its current support zone. Double Bottom Pattern : The formation of a double bottom pattern is a bullish reversal signal, indicating the stock may have completed its downtrend and is now primed for an upward move. 0.618 Fibonacci Level Support : The stock has bounced back from the golden Fibonacci retracement level, providing additional support to the bullish thesis. 50 EMA Support : The price is holding above the 50-day exponential moving average, adding strength to the current setup and suggesting the trend is intact. Target - 1908 // 2000 Stoploss - daily close below 1610 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:TORNTPOWERLong
by Visionary_Growth_Insights
SWING IDEA - AMBER ENTERPRISESAmber Enterprises , a leading player in the Indian air conditioning and refrigeration industry, is showing technical signals that suggest a promising swing trading opportunity. Reasons are listed below : 4600 Resistance Breakout : The 4600 level has been a significant resistance zone. The price is now breaking out above this level, indicating strong bullish momentum. Strong Bullish Marubozu Candle on Daily and Weekly Timeframes : The recent formation of bullish marubozu candles on both the daily and weekly charts indicates strong buying pressure and suggests potential for further upward movement. Trading Above 50 and 200 EMA : The stock is trading above both the 50-day and 200-day exponential moving averages (EMA), reinforcing the bullish sentiment and providing strong support levels. Higher Highs : The stock is consistently making higher highs, indicating a strong upward trend. Gradual Increase in Volumes : A noticeable increase in trading volumes confirms the strength of the price move and indicates growing investor interest. Trading at All-Time High : The stock is trading at its all-time high, suggesting strong market confidence and potential for further gains. DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:AMBERLong
by Visionary_Growth_Insights
Dont Buy Silver Here; Watch Gold/Silver RatioSilver has been mostly sideways since 2021 and till 2024, when metal clearly formed a corrective price action because of choppy and overlapping moves. Ideally, that was a very big triangle that sent prices sharply higher this year as shown on weekly chart below. We have seen some nice turn up, due to inflation hedge, CB easing and geopolitical tensions. In fact, we can see some volatility in last few weeks with sharp move out of a big contracting range; its an impulsive reaction since price broke above $25, but notice that price now trades $34-37 area as expected; marked as potential resistance zone identified by swing highs from 2012, 2013, and Fibonacci levels. The reason why we should be aware of a resistance on silver and also gold, is gold/silver ratio (XAUSD/XAGUSD ), which is pointing higher after an A-B-C corrective setback. Based on past correlations, bullish gold/silver ratio is usually bearish for metals, so if ratio start moving higher, then watch out for a limited upside on silver. From an Elliott wave perspective this push higher on XAUSD/XAGUSD chart would deffinitely not be a surprise because of bullish pattern. If someone wants to join uptrends on gold and silver, then due to the reasons described above, it may not be a bad idea to wait on some pullback first. $30 can be an interesting levels in such case.
COMEX:SI1!
by ew-forecast
GBPUSD BEARS STILL GOT IT! WHAT HAPPENED TO THE BULLS??!The bears came in this week as anticipated but failed to reach the expected AOI from the previous short projection, hence, leaving us with no short trades this week, yet. Now attention is shifting towards the bullish side of the curve as price approach two significant AOIs (a weekly FVG and a 3-month demand zone). As we still seek to see a potential retracement of all the shorting from September, we will watch keenly what price does first within the FVG for bullish signal. Should it violate this level also, the demand zone below becomes our ultimate area for longs.
Long
by LloydFX
Gold Pauses Before Continuing Its Climb Gold is currently on a dramatic "adventure." After a sharp rise to 2,735 USD, it seems to be taking a break around the 2,727 USD support level, as if it's catching its breath before climbing further to new peaks in the 2,750 - 2,767 USD range. The EMA 34 and 89 are providing solid long-term support. However, remember that the gold market can be unpredictable, and a “slip” could happen if strong resistance is encountered. Traders should keep an eye on U.S. bond yields rising amid geopolitical tensions in the Middle East and the U.S. election.
OANDA:XAUUSDLong
by Zola_Hello
SasanSeifi|Will 0.66800 - 0.66500 Support the Price Movement?Hey there, ✌ In the 4-hour timeframe, a downward trend is evident from the level of 0.69400. Currently, due to the breakdown of the significant support level at 0.68, the price has corrected to the liquidity zone of 0.67. If the momentum weakens in this price range and the level of 0.67 is maintained, we may witness a ranging trend with minor positive fluctuations. To better understand the continuation of the trend, attention should be given to the price's reaction at levels 0.67500, 0.67800, and 0.68. Overall, our outlook leans more towards a decline and correction towards the target of 0.66800 and the demand zone at 0.66500. It is expected that the price will be able to correct to the desired support levels. Subsequently, if the price maintains the ranges between 0.66800 and 0.66500 and confirms it, we will enter a ranging phase with positive fluctuations. The potential trends are also illustrated in the image above. ⭕The important support levels are 0.66500–0.66. 💢 This is just my personal analysis, not financial advice. If you found this helpful, feel free to like and comment – I'd love to hear your thoughts! Happy trading! ✌😊
by SasanSeifi
2
Gold at Key Resistance: Short Opportunity Before Breakout?Based on my chart, I’m analyzing XAU/USD (Gold) on the multi-timeframe, with key levels and trendlines marked. Here’s a potential trade idea derived from this technical setup: Trade Idea: • What: Short sell (SELL) Gold (XAU/USD) around 2,734–2,735 zone. • Why: • Price Action Resistance: The price is nearing a strong resistance area around 2,735–. 2,740, indicated by the horizontal orange and red lines. These levels have acted as significant selling zones in the past, which could cause a reversal. • MSS (Market Structure Shift): There’s a shift in the market structure (MSS) slightly below, indicating a possible breakdown of bullish momentum after the recent uptrend. • Ascending Trendline: The price is currently respecting an ascending trendline (in purple), but if it breaks this support level, it could trigger more downside. • Fibonacci/Support Levels: The levels 2,730.46, 2,723.67, and 2,714.22 (orange and red lines) represent possible key retracement or support points where price could fall to if resistance holds. How: • Entry: Enter a short position near the current price of 2,734–2,735. • Stop Loss: Place your stop-loss above the resistance at 2,741 to protect against further upward movement if price breaks above this zone. • Take Profit: Target support zones at 2,730.46 (first target) and 2,723.67 (second target) for potential profit taking. Risk Management: • Ensure you manage position size to risk no more than 1–2% of your account per trade.
OANDA:XAUUSDShort
by AdibAziman_
2
PayPal (PYPL): Ready for a pullback after hitting wave (iii)Plan the trade and trade the plan. That’s exactly what we’ve done with PayPal. In our last update a month ago, we stated: “We are going to take more profits once we are getting into the $81 area,” and now, we’ve done just that as NASDAQ:PYPL has reached the minimum target for Wave (iii) at $81. With the position now up 37%, we see more upside potential, but a pullback here could offer a prime second entry spot. Several factors are aligning in the chart, reinforcing our conviction for a good re-entry. First, we are seeing a bearish RSI divergence, suggesting a more significant drop than the minor one we've already seen. Ideally, we’d like to see the price dip below the last level before the low-volume node at $76. A low-volume node represents an area of little trading activity, which means the price tends to move quickly through these zones in the future. As for the entry, two key levels stand out to us. The high of the recent accumulation phase before the last leg up and the low of the same range, which aligns with the level of Wave (i). In theory, this level should not be breached. While we don’t strictly adhere to Elliott Wave theory, we prefer not to see the stock close below this level for an extended period. A wick below or consolidation around this zone would be valid for us. Additionally, the 38.2% Fibonacci retracement level sits in the middle of this accumulation phase, making it our targeted entry for Wave 4. Therefore, the level between $72.78 and $70.62 seems ideal for a re-entry. Given the upcoming election, it would be safer to play this setup with a wider stop-loss or soft stop-loss (manual stop-loss) to account for potential volatility or sudden price wicks. At the moment, we haven’t set a limit order but have activated alerts. Once the price dips below $76, we will activate our limit order and get ready for the next leg up. 🔥
NASDAQ:PYPLLong
by freeguy_by_wmc
Gold Uptrend - October 21, 2024A recent Kitco News survey shows a broad sense of optimism about the gold price outlook. The majority of experts (94%) predict further price gains, while only one analyst (6%) sees no significant change. However, gold’s ability to maintain its value may be challenged by concerns about the US dollar, which could see demand revive as the ‘Trump rally’ is revived. Additionally, with no major US economic data due for release on Monday, the focus will remain on risk sentiment and speeches from several Fed policymakers to provide fresh impetus to gold prices. When it comes to trading strategies for the start of this week, the priority will be given to buying in view of the Fibonacci extension on the bullish channel as mentioned on D1.
OANDA:XAUUSDLong
by ConanTradingFX
Can EURUSD continue to fall?EUR/USD is currently hovering around 1.0860 after an earlier rally, with stability in the Asian session. Notably, concerns about the possibility of a Federal Reserve rate cut in November have been dismissed, as recent data suggests that the US economy is still recovering. On the 1D chart, we can clearly see that after the price fell out of the uptrend channel and approached the support level of 1.0800, EUR/USD has reversed again. Currently, the price is hovering around 1.0865 and interacting with the 34 and 89 EMAs, combined with resistance at 1.0960. These factors suggest that the downtrend is still in place. My personal prediction is that EUR/USD is likely to continue falling and may hit a lower low around 1.0700 in the near term. Now the realization phase is taking shape we are waiting for confirmation with the prospect of strengthening the purpose.
Short
by ConanTradingFX
Gold Soars but Awaits a CorrectionXAUUSD isn’t just climbing—it’s soaring like a rocket. But wait, before continuing its adventure towards the 2,780 USD mark, the market might need to 'pause' around the support zone at 2,704 USD to refuel. The EMA 34 and EMA 89 are acting like loyal guardians, protecting the bullish trend in gold prices. If gold doesn't turn back and continues its upward journey, the bulls might start preparing for a celebration. However, don’t celebrate too soon; the market could 'flip' at any moment if it faces unexpected resistance. Traders must always be prepared for sudden turns to avoid being left behind! Traders should also be cautious of ongoing instability in the Middle East and Federal Reserve interest rate policies, which could further drive gold prices higher.
OANDA:XAUUSDLong
by Zola_Hello