WORKX ready for bull phase, new highs incomingHello
The last time I covered workX it turned out to need more time consolidating.
This time I think everything looks fine for a new bull phase. Also considering overall market conditions.
When the price surges past the old resistance it can surge very fast because it is a low marketcap gem.
Please do your due diligence, then you will find a hard-working team backed by big companies and also the European Union.
Full send!
Greetings, Corné
Bullishmomentum
DOW JONES │ US30 │ WEEKLY OUTLOOKWeekly timeframe
As anticipated the highs were raided even if it was a mere ±40 pips. So what is next? Bullish scenario we may see participants run us all the way to round levels – 40100; 40200; 40300; 40400; 40500 and so and so forth. Where it turns around to sell, I do not know. However, if we do see it sell there are two fair value gaps we can look for a reaction to buy on the chart
Daily timeframe
Because we believe the market is now bullish, a break of ATH is eminent. So we just wait for that break to see price reach high to around 40800, Unmitigated imbalance sit around 38680. A very deep retracement that would be.
Four-Hour timeframe
Clear as daylight; just wait for price to get into discounted levels to buy. When you see selling opportunities in premium, sell but as always, these are high resistance counter trend trades that is full of stop hunts so always try and half the risk you take.
Final Thoughts
When you are in no man’s land as we are here, it is always best to stick to the short-term trades. Session to session, fixed RR etc. I will personally wait for price to get into discounted levels to buy and try to sell in premium when the opportunity presents itself.
INJ Trade Analysis: Bullish Outlook 📈Current Market Context:
INJ is breaking out of a downtrend and demonstrating bullish momentum. The recent transition to a deflationary model adds a strong fundamental case for long-term holding.
Trade Strategy:
Entry: Initiate a trade at the current market range of $25 - $26. This entry point leverages the ongoing bullish breakout.
Take Profit: Set multiple take profit targets to lock in gains at different stages:
First Target: $29
Second Target: $35
Third Target: $45
Stop Loss: Place the stop loss at $23.17 to manage risk and protect against potential downturns.
Rationale:
Fundamentals: The deflationary model and strong metrics support a positive long-term outlook.
Technical Analysis: The break of the downtrend indicates a potential shift to a bullish phase, supported by lower time frame (LTF) analysis.
From Inception to Present: Our Crypto Model's Trades to DateIntroduction
In this idea, we'll analyze the performance of our crypto trend model by breaking down each individual trade made since it went live on 27th July 2023 . We'll delve into key market events that occurred around these trades and the run-up gains or drawdown avoidance achieved by the model.
Trade Breakdown
Short Signal - July 27, 2023
Trade Outcome :
Date : July 27, 2023
Signal : Short📉
Market Context :
Event : In July 2023, Bitcoin faced a significant resistance around $30K, leading to a sharp rejection and subsequent price drop. This resistance level was critical, and the rejection marked the start of a downturn.
Performance : The short signal successfully captured the decline, gaining almost 15% at it's climax on just Bitcoin alone. The model's entry just before the major resistance test was well-timed.
Long Signal - September 19, 2023
Trade Outcome :
Date : September 19, 2023
Signal : Long📈
Market Context :
Event : By mid-September, Bitcoin found solid support around $25,000 after a volatile summer. This support level triggered a significant bounce, making it a prime entry point for a long position.
Performance : The long signal capitalized on the bounce from $25,000, leading to a max run-up of 80% as Bitcoin rallied. Holding positions on altcoins in confluence with this signal would have likely yielded at least twice of what was gained on Bitcoin.
Cash Signal - January 15, 2024
Trade Outcome :
Date : January 15, 2024
Signal : Cash💰
Market Context :
Event : Early January saw a recovery in Bitcoin prices driven by positive macroeconomic signals, such as slowing inflation. However, regulatory pressures and market volatility prompted caution. This pullback was also likely due to the Bitcoin ETFs Launch having a "sell the news" narrative.
Performance : The cash signal helped avoid drawdowns of up to -10.61% and even more on altcoins during a period of increased market uncertainty and regulatory challenges.
Long Signal - January 30, 2024
Trade Outcome :
Date : January 30, 2024
Signal : Long📈
Market Context :
Event :The approval of Bitcoin spot ETFs in January 2024 significantly boosted market sentiment. This approval was a pivotal event, sparking a bullish trend right after a small retracement.
Performance : The long signal leveraged the positive sentiment and regulatory clarity, benefiting from the ensuing price surge and experiencing a max run-up of almost 72% on Bitcoin.
Cash Signal - April 13, 2024
Trade Outcome :
Date : April 13, 2024
Signal : Cash💰
Market Context :
Event :April 2024 witnessed mixed signals with regulatory updates and market corrections. The Financial Stability Board's new regulatory framework added to the cautious market sentiment. And with added FUD coming from Iran's attacks on Israel, the prices of not just crypto but other assets such as stocks started to tumble.
Performance : The cash signal once again helped sidestep market turbulence, preserving gains from earlier trades, essentially avoiding up to -11.51% of drawdowns.
Long Signal - May 17, 2024
Trade Outcome :
Date : May 17, 2024
Signal : Long📈
Market Context :
Event :As of May 2024, the crypto market showed resilience with new institutional interest and advancements in blockchain technology. This renewed interest provided a solid foundation and confluence for a long position
Performance : As the signal came in just 3 days ago as of writing, we will update on the performance of this signal at a later date.
Conclusion
The crypto trend model demonstrated robust performance by effectively navigating through various market conditions and key events. Each and every trade has been overwhelmingly successful, and the model's signals is expected to continue capitalizing on gains and avoid major drawdowns in the future.
Stay tuned for more updates and detailed analyses on our crypto trend model's performance.
All time high! Dow Jones bricht die 40,000-Marke! Der Dow Jones Industrial Average hat Geschichte geschrieben und kurzzeitig die 40.000-Punkte-Marke zum ersten Mal überhaupt durchbrochen! Diese bemerkenswerte Leistung unterstreicht den starken Aufwärtstrend, der den Markt derzeit antreibt. Lass mal einen kurzen Blick darauf werfen.
WHSELFINVEST:WALLSTREETCFD
Gleitende Durchschnitte bestätigen Stärke: Der Kurs des Dow liegt deutlich über seinen 50-, 100- und 200-Tage-Gleitenden Durchschnitten, was ein starkes Indiz für einen anhaltenden Aufwärtstrend ist.
40.000: Psychologischer Widerstand? Auch wenn der Ausbruch zweifellos bedeutend ist, ist es ratsam, einen sofortigen Einstieg mit Vorsicht anzugehen. Die 40.000er-Marke könnte als psychologischer Widerstand dienen und möglicherweise zu einer Konsolidierung oder Rücksetzern führen, bevor der Aufwärtstrend sich definitiv in Richtung neuer Höchststände fortsetzt.
Trendkanalanalyse: Der Trendkanal auf dem Tages-Chart, der die Aufwärtsdynamik seit Ende Oktober 2023 nachzeichnet, zeigt den aktuellen Kurs in der Nähe der Mitte des Kanals. Diese Positionierung ist ein weiterer Hinweis auf einen anhaltenden Aufwärtstrend, könnte aber auch auf einen möglichen Rücksetzer auf die Unterstützungsmarke von 39.000 hindeuten, bevor sich die Rallye möglicherweise fortsetzt.
Interessiert am Handel mit einer breiten Palette von CFDs? Werf einen Blick auf unsere Website !
Shipping Corporation Of India Showing Expected Up-Side MomentumCompany has reduced debt.
Company has delivered good profit growth of 24.4% CAGR over last 5 years
Strengths
Long track record of operations along with diversified business segment
SCIL is one of the largest shipping companies in India with an operational track record of around six decades. It benefits from the experienced management of qualified professionals and nominees of GOI. The long track record has helped them establishing relationships with major PSUs in India like IOCL, HPCL, BPCL, ONGC, etc. The company have diversified business segments which includes crude oil/product tankers, dry bulk, offshore services, and container operations, and has a presence in passenger vessels, chemicals, and gas transportation. SCIL currently has the largest fleet size of 59 vessels; a relatively younger fleet, with an average age of around 11-12 years which helps them in getting better charter rates and achieving higher operating efficiency. Vessels on behalf of third parties, primarily Public-Sector Units (PSUs)/Government Departments/Union Territories are also managed for service income. Currently, SCIL are managing 53 third party vessels.
Acuité believes that SCIL will continue to benefit from its long operational track record and established relationship with the PSU's./b]
Strategic importance to Government of India
With more than six decades of operational track record, SCIL, remains strategically important to the Government of India. The company have been playing a pivotal role towards supplying vessels for the Indian Government key operations such as Mars Orbitter Mission of ISRO (Indian Space and Research Organisation) and other defence missions via agreement with DRDO (Defence Research and Development Organisation). Furthermore, SCIL have created strategic alliances with other governments such as Maldives, Andaman & Nicobar Islands for providing maritime services among islands. They have also been serving projects of national importance by partnering with ONGC and Geological Survey of India (GSI) for offshore services. Apart from that, the company deployed its container vessel on direct "India - Middle East Shipping Service" which connects East & West Coast of India with Middle East ports of Jebel Ali and Hamad and will also cater to other ports in Persian Gulf.
Stable business operations
The business operations of the company remained stable over the years marked by healthy growth in revenue from operations by -25% CAGR over FY21-23 period. The consolidated company achieved revenues of Rs.5794.01 Cr. in FY23 compared against Rs.4988.08 Cr. in FY22 and Rs.3698.09 in FY21. The improvement in revenue is attributable to significant improvement in liner freight indices and bulk segment due to significant improvement in charter rates. A surge in the tanker charter hire rates helped the Tanker Segment to post significant profits. The dry bulk segment is still recovering from historically bad period and loss of key cargoes such as iron ore exports from India, resulting in long non-profitable ballast legs thereby putting pressure on earnings. Although, in later parts of 2020, dry bulk trade recovered remarkably well on account of stimulus packages given by various governments and with China, the main driver of dry bulk demand, recovering quickly from COVID-19 crisis. Simultaneous occurrence of multiple factors conducive for the dry bulk shipping business, viz., spike in dry bulk materials demand, strong trade in grain, coal and iron ore segments, low active fleet growth maintaining tonnage balance etc. gave a good push to the dry bulk rates. Also. strong trade growth and tapering dry bulk carrier deliveries bode well for the near future.
Healthy Financial Risk Profile
The financial risk profile of the company remained healthy marked by strong net worth, gearing ratio and comfortable debt protection metrics. The tangible Net worth of the company stood at Rs.6902 crore in FY2023 as against Rs.5974 crore in FY2022. The debt/equity of the company improved and stood comfortably at 0.37x and 0.53x as on 31 March 2023 and 31 March 2022 respectively. The TOL/TNW of the company improved and stood low at 0.66x as on 31 March 2023 compared against 0.82 times as on 31 March 2022 respectively. The debt protection matrices of the compar mained comfortable marked by interest- coverage-ratio of 9.45x and Debt-service e ratio of 2.30x for FY2023.
Acuité believes that financial risk profile of SCIL may remain strong owing to no major capex plans and stable profit accretions.
BALAXI Pharmaceutical LTD is Showing Good Strength Can be Held
Company has a good return on equity (ROE) track record: 3 Years ROE 47.3%.
Debtor days have improved from 71.3 to 56.7 days.
Financial
Performance Commentary
6
Revenue
Higher contribution from the pharmaceuticals business led to y-o-y growth of 20% in revenues for FY23
compared to FY22. The share of LATAM markets increased to 40% of pharmaceutical revenues, highlighting
our ability to quickly expand geographical presence. Key contributions to growth came from recently
launched operations in markets like Honduras and El Salvador that are showing stronger demand for our
products apart from substantial growth in Guatemala and Dominican Republic. Our pharma business in
Angola continues to generate strong cash flows that are being re-invested for expanding into new markets
EBITDA
During the year, operating EBITDA stood at Rs. 59.17 crore, a growth of 7.2% y-o-y. This was on account of
increasing contribution from LATAM markets and expansion into newer geographies. EBITDA margin has
declined by over 200 bps to 17.6% in FY23 - however, going forward with contribution from the newly
entered market rising, there should be a steady rise in our margins
Profit After Tax and EPS
During the year, Profit After Tax stood at Rs. 45.96 crore. Earnings per Share (EPS) for the year was recorded
at Rs. 45.81 compared to Rs. 47.66 in the previous year.
Upwork a calm before the storm? Will we have a massive Bull run?Hi guys! This is a Macro analysis on Upwork (UPWK). Macro meaning larger timeframe aka the 1 week in this instance.
Alot of stocks are down fromt heir previous tops. Which means potentials for longterm gains for many names are possible. I try to make sense if things have the technical signs to buy or not.
For UPWK -> some interesting signs were observed. It was observed in comparison to previous patterns seen in the price action and indicators. Note however, past data does not reflect certainty. It does not need to repeat as is.
But again the resemblance is in your face! And it is something to keep in our minds.
Starting with price.
Notice the "Major Resistance" black trendline.
Price has been historically above it or below it with major moves seen.
Above it = Massive Bull Run
Below it = Downtrends followed by consolidation.
Being relatively new public company, we only have 1 data point to use.
Now notice the previous green box marked.
Red trendline shows the downtrend in price, followed by a black trendline that highlights the beginning of the uptrend before massive bull run.
Before we get ABOVE the "Major Resistance" trendline, we consolidate for a period of time in the orange rectangle. That then catapults prices significantly higher.
Notice Volume is seen to spike as well.
Also notice the indicators added:
STOCH RSI during price actions time inside the orange rectangle (consolidation) moves down.
As soon as it crosses Bullish, prices shoot out of the consolidation zone and above the Major Resistance.
Notice too the MACD, the pattern here is that it stalls here becoming almost flat, with histogram bars turning light green, as it turns Dark Green and Blue line curves up, this signals the price to shoot out of consolidation, moving above "Major Resistance".
Fast forward to our current data. We are repeating almost to the tee, the same pattern.
Will it be the same? Or will we be rejected?
Well, we need 3 signs to occur.
STOCH RSI must cross BULLISH (Blue line above orange line)
MACD needs Dark Green bar print with increasing size and Blue line to Curve UP
VOLUME Must start to increase/ spike
Without these 3 signals it is more likely we get rejected here!
Another thing to observe is the consolidation or rectangle pattern. Remember its never a good idea to trade within any chart pattern.
A confirmed break above will determine uptrend.
A confirmed break down will cause rejection.
Very important to continue to observe UPWK.
Ill be sure to update as things become clearer!
__________________________________________________________________________________
Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
Stay tuned for more updates on HOOD in the near future.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
DON'T FALL FOR IT!! Can you tell me what's next?Every #Bitcoin consolidation since the bottom has had 3 things in common...
1. Each time, it has created a "retail" pattern, such as a wedge.
2. The pattern seemed to #breakout (signaling traders to go long and becoming trapped), only to realize the move as a #fake-out back into the pattern.
3. Then, there seems to be a continuation to the breakdown of the pattern (liquidating late longs and signal traders to go short and becoming trapped), only to deviate back into the pattern just before a massive move to the upside (liquidating the late shorts).
This false move to the downside, so far, has also always correlated to the bottoming of the #StochasticRSI.
The market makers want your bags and this is how they get them.
------
Tell me what comes next... 😏
SHIB ANALYSIS🔮 #SHIB Analysis
🌟₹SHIB is consolidating in a Bullish Flag Pattern in 8hr timeframe. Incase of successful breakout in #SHIB we can expect solid bullish wave expecting 50-60% bullish wave 💲
🔖 Current Price: $0.00002396
⏳ Target Price: $0.00003656
⁉️ What to do?
- We have marked crucial levels in the chart . We can trade according to the chart and make some profits. 🚀💸
#SHIB #Cryptocurrency #Breakout #DYOR
Unfolding Waves in Chambal Fertilisers: Bullish Path AheadAn analysis of Chambal Fertilizers using Elliott Waves, we can observe an interesting progression in the stock's price movements on a weekly cycle. The chart has completed the initial waves I through IV, and it is currently unfolding wave V, signaling a strong potential for a bullish trend ahead. Let's delve deeper into the details of this wave analysis.
Weekly Cycle
Wave V: We are observing the unfolding of wave V on the weekly cycle. This wave is showing potential for further upside as the stock completes its final wave in the longer timeframe.
Subdivision of Wave V: Within wave V, the stock has already completed waves (1) and (2), and it is now unfolding wave (3).
Wave (3) of Wave V
Progression within Wave (3): In the ongoing wave (3) of V, we've seen waves 1 through 4 completed, and the current focus is on wave 5 of (3).
Hourly Timeframe
Progression within Wave 5 of (3) of V: In this specific timeframe, wave 5 has already seen the completion of sub-waves ((i)), ((ii)), ((iii)), and nearly all of wave ((iv)). This suggests we are likely at the end of wave ((iv)), poised for wave ((v)).
Elliott Waves Fundamentals
Wave Counts: The stock's progression through each wave provides valuable insights into potential market behavior. The typical characteristics of an impulsive wave, as seen in the unfolding of wave V, include strong, directional movements, which are followed by corrective waves.
It’s essential to apply appropriate risk management techniques, such as setting stop losses, to mitigate potential downsides. Be cautious in managing your exposure and avoid over-leveraging.
This analysis is purely for educational purposes and should not be taken as investment advice. Always conduct your own research and consult a financial professional before making any investment decisions. Remember, market conditions can change rapidly, and past performance does not guarantee future results.
This analysis aims to provide an overview of the potential trajectory of Chambal Fertilisers based on Elliott Waves. It's always important to stay vigilant and adjust your approach as new information becomes available. Happy trading!
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
#SARDAENProduct Portfolio
The Co. offers a wide range of products that include Wires Rods, HB Wires, Ferro Alloys, Pellets, Sponge Iron, and Billets.
Ongoing Capex Projects
Minerals: 1 Gare Palma IV/7 Coal Mine Chhattisgarh: Capacity enhanced from 1.2 MTPA to 1.44 MTPA in May-23, and increasing further to 1.68 MTPA in FY24 and seeking approvals for enhancement to 5.2 MTPA which will be carried out in phases. Also, setting up dedicated Railway Siding for more efficient coal transportation.
2 Coal Washery: Capacity expansion from 0.96 MTPA to 1.8 MTPA is under process.
3 Shahpur West Coal Mine : Extractable reserves of 13.4 MT and Production capacity of 0.6 MTPA – EC, CTE and Stage 1 Forest clearance received.
4 Surjagad 1 unexplored Iron Ore Block in Maharashtra: Declared as Preferred Bidder with 126.35% revenue share in May-23.
Energy
1 Hydro Power: 24.9 MW plant on the Rehar river in Chhattisgarh - construction has started; Expected to achieve CoD in FY25.
2 Solar Power: 50 MW plant to be installed at Chhattisgarh facility for captive consumption, replacing costly grid power; Contract awarded
Steel :
1 Wire Rod Mill: Received consent for capacity expansion from 180,000 MT to 250,000 MT, in FY23.
2 Iron Ore Pellet Plant: Received consent for capacity expansion from 8,00,000 tonnes p.a to 9,00,000 tonnes p.a., on 22-Dec-23.
Waste :
1 Setting up a new project for manufacturing Mineral Fibre with an estimated outlay of Rs. 70 Crores. The project is expected to be
operational by FY25.
#MANGLMCEMPositive factors
Improving scale of operation leading to increase in total operating income (to greater than ₹2,000 crore) and profitability
(profit before interest, lease rentals, depreciation and tax (PBILDT) margin greater than 18%) on a sustained basis
Improving capital structure (overall gearing less than 0.5x) and debt protection metrics (PBILDT interest coverage greater
than 5.0x) on a sustained basis
Negative factors
Lower-than-envisaged profitability leading to decline in PBILDT interest coverage going below 2.00x on sustained basis
Large-scale debt-funded capital expenditure (capex) leading to deteriorating capital structure
#NHPC Company has been maintaining a healthy dividend payout of 49.5%
The company is actively engaged in the construction of 15 Solar and Hydro Power Projects of 10449 MW Capacity (including JV & Subsidiaries). Total projects under clearance stood at 4112 MW and projects under survey stood at 4110 MW as on Dec’23.
MOUs
Company has signed a MoU on 3 Jan 2024 with GPCL for proposed investment of Rs.4000 Cr in Kuppa Pumped Storage Project (750 MW), Chhota Udaipur, Gujarat.
Company signed an MOU with Govt. of Odisha through GRIDCO Limited on 23 Jun 2023 for Development of Pumped Storage Projects and Renewable Energy in the State of Odisha.
It signed an MOU on 23 Aug 2023 with APGENCO for Implementation of Pumped Hydro Storage Projects and Renewable Energy Projects under Joint Venture Mode in Andhra Pradesh. The MOU envisages Implementation of two Identified Pumped Hydro Storage Projects namely Kamlapadu- 950 MW and Yaganti 1000 MW PSPs in the first phase.
Focus
Being a hydro power company shifting its focus toward the renewable energy segment as well. Out of 10499 MW capacity under construction 1135 MW is for Solar power. It has recently signed a contract to develop additional 2000 MW solar power capacity in Rajasthan. About 9090 MW Solar power capacity is under Tender and pipeline including as a Intermediary Procurer.
#Just Dial #JUSTDIAL
Pan-India Presence
The company has ~12000 employees in telesales, marketing, feet-on-street activities deployed across 250+ cities covering 11,000+ pincodes in India. It derives 70% of its revenues from top 11 cities including Mumbai, Ahmedabad, Hyderabad, Kolkata, Bengaluru, Chennai, Delhi, etc. Its technology and R&D division is located in Bengaluru
Business Model
Paid advertisers pay a fixed fee to run search led advertising campaigns for their businesses
on Justdial’s platforms. Various premium & non-premium listing packages available which determine placements in search results. Add-on products such as banners, own website, JD Pay, JD Ratings, etc.
Gold regaining uptrendthe gold market this year has essentially only seen upside. since all time highs theres been a run on available contracts during a contraction that has ended suddenly.
it appears that todays rally has been sustained, and the uptrend in futures has all but resumed according to a credit liquidity crunch and bear dollar environment.
according to tv alerts, forex and gold strategies the risk/reward for gold is long on multiple time frames up to 4hrs.
SHIBUSD need to rest LONG again laterShiba Inu has pushed quite hard. I can only think of sled dogs ona long marathon push over a
sun prepared snow trail. The ride might be frictionless but nonetheless grueling and perhaps
time for a rest. The chart shows the breakout and then extension above the VWAP lines that
are trying to catch up. In proper risk management. I will take half the position off here and
have it ready to add at least part of it back if the rest is a stable consolidation in the upcoming
day.
NEAR ANALYSIS🔴 #NEAR Analysis : ❓❓
🔮There is a formation of "Bullish Pennant Pattern" in #NEAR in 4hr time frame. We can expect around 25% bullish move if the price closes above the 7.400📈📈
🔰 Current Price: $7.087
🎯 Target Price: $9.034
⚡️What to do ?
👀Keep an eye on #NEAR price action. We can trade according to the chart and make some profits. ⚡️⚡️
#NEAR #Cryptocurrency #Breakout #DYOR
ETH ANALYSIS🔮 #ETH Analysis 🚀🚀
💸💸 #ETH is trading around it's demand zone from where we have seen a bullish move many times. If #ETH shows any bullish candle and closes above $3350 then we will see again a bullish move.
📌Current Price -- $3313
🔰Target Price -- $3960
⁉️ What to do?
- We have marked crucial levels in the chart . We can trade according to the chart and make some profits. 🚀💸
#ETH #Cryptocurrency #DYOR
XAUUSD PENDING PULLBACK for another rally? (buys from 22000Currently, I'm not favoring gold due to its lack of healthy price action characterized by abrupt bullish momentum without significant pullbacks. This has resulted in the creation of numerous Asian lows and imbalances below that need to be filled. Consequently, I'll wait for price to retreat and potentially reach a demand zone to sustain its strongly bullish trend.
If price consolidates and experiences a downward break, I anticipate the formation of a new supply zone, providing an opportunity to sell toward a demand zone. However, I'm keen to observe how price behaves throughout the week given gold's erratic movements.
- Gold has been moving very bullish on the lower and higher time frames.
- Lots of imbalances left below as well as multiple untaken Asia lows.
- Price took ATH's and candle stick anatomy is strongly bullish.
- Demand zones have been left around 22000 and below so potential rally from there.
P.S. With NFP scheduled for this Friday, I'm keen to observe its impact as it could significantly influence gold's direction. There's a possibility of a decline, which could fill the imbalances below and reach a demand zone, but we'll have to wait and see.
Have a great trading week guys!
INJ ANALYSIS🔮 #INJ Analysis 💰💰
🌟🚀 As we can see that #INJ is trading in a Falling Channel Pattern in 1hr time frame. Currently #INJ is trading above its major support area. Broken out of falling channel could lead to a bullish rally📈📈
🔖Current Price --- $37.96
🎯Target Price -----$43.11
⁉️ What to do?
- We have marked some crucial levels in the chart. We can trade according to the chart and make some profits in #INJ . 🚀💸
#INJ #Cryptocurrency #DYOR