Retest of major level of support Looks like CADJPY has come to retest previous level of support following with some rejection candles around the zone. Will most likely reject this major level as it remains strong and reverse to the upside
Candlestick Analysis
Continuing the Moon Phase Vs Nifty chart further. Yesterday in the message we understood how The dark circle resonates with the dates of no moon day and Grey circle indicates the day when we saw a full moon. Invariably in most of the no moon days as can be seen in the chart index is at the peak near no moon day. Then there is a fall seen in Nifty. Recovery starts in few days of Full moon day and then again Nifty makes a peak near no moon day. We were trying to contemplate if it is a coincidence. Now we saw a small turnaround today. We do not know if this will hold and if the recovery will start from here and now but we will juxtapose Moon Phases Vs Nifty chart with our Mother, Father and Small Child theory, RSI and Bollinger bands and see what levels we get for support and resistances further.
RSI is currently on daily chart is at 41.27 having taken support near 37 zone. This seems to be a good support zone for RSI as it as bounced from there and there about several times. Nifty took baby steps to recovery on Friday as Full Moon is done. Lowest RSI on daily chart was around 32 that was exactly one year back so we can expect either of these two levels to hold fort.
Father line support is near 23404. Bollinger band shows a support zone near 24373 range in case Nifty takes a dip from here. Mother line resistance is near 25026 and Bollinger Median resistance is near 25372. Resistance for nifty based on Bollinger band top seems to be at 26372.
Mother, Father and Small Child theory is explained in my book Happy Candles Way to Wealth creation. The book is available on Amazon in Paperback and Kindle version. Do read it as many reviewers on Amazon consider it as a Hand book to equity investment.
In this way we have tried to deduce support and resistance levels of Nifty with the help of Mother, Father and Small Child theory, Bollinger band, RSI. We tried to predict the turnaround phases for Nifty’s upward and downward runs by juxtapositioning it with phases of Moon. To a normal eye all this looks a little complicated and difficult but when you dissect it and spend time with the chart you will be able to deconstruct it bit by bit, frame by frame and level by level.
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New strategy based on 50/200 EMASaw this strategy on Reddit and tweaked some things to what I am showing to you now with a 80-85% win rate. You wait for the 50 EMA to cross over the 200 EMA either the same day or post/pre market before. After the crossover, you wait for the pullback and when a wick hits the 50 EMA and reverses, you enter a long trade until either the trading day is over or the RSI shows overbought. Anybody have any changes that would make it better or that I’m missing? I’ve noticed it works best on 15m.
retest of support level the market has come back to retest level 0.62660 of support with some signs of rejection, before bouncing back to the upside
major level of resistance will it break?major level of resistance of has been reached 83.782 with what appears lots of consolidations around that zone from lack of volume, we shall continue to monitor to see if there is a break out or reject
NZDUSD 4H long watchlistIt's a quiet week no trades yet, but that's a good thing.
That means also no losses are taken. So my decision-making ability to spot only good quality trades for my system works.
NZDUSD 4H long is on only thing that caught my attention and I will explain why.
First thing what I always want to see a long clean downtrend breaking support. It's hovering arround that level so that's good.
Second thing consolidation pattern with a couple of fakeouts. The last deep red candle pierced deeper than the rest. So that indicates price is looking for liquidity to move up again.
What's also really nice after the deep red candle we see some small indecision candles.
The only thing what needs to happen now is one medium to strong bullish candle I draw it on the charts as example. That's enough reason for me to enter.
If not I skip the trade with no problem :)
End of the Trend?It is not a Shooting Star and not a Hanging Man. And I am to lazy to look into my Nison bible what the name of such a candle on top of a Flagstaff is. At least it is not a bullish signal.
When we will hold this price level until Thursday -and I expect it to do so- then a downward correction is likely. I will have a look at the Fibonacci levels to get an idea of the first targets.
Harami?I will check, whether it is a Harami building today. Probably it is not a Harami as the lower lunt ist to long. Nevrtheless it is not a confirming candle but a reversal one.
I am selling some NIO stocks now. The rise seems to have been to fast and the downward correction may still continue a bit longer.
Possible short on AUD/CADThere is a lot of internal liquidity to take and also there is a huge gap that should be filled, so I set the first target on the beginning of the GAP an the second Target on the beginning of the order block, or what I consider order block. I think that could start a short because the price is arrived in a upper order block, and also for my past analysis I think that this pair is in a bearish configuration on a large time frame.
Possible long on CAD/CHFI am long on this pair, but I think that now is the time to enter long for Target 1 and then for Target 2. The rose box are the order block that for my opinion are important to consider as target. There is also a red pin bar, usually the price retrace over these candles, for that reason I set the Target 1. Going long then there is a quite good carry trading.
Gap filled on GBP/CHF and now long continuationGap filled originated by the news in the morning about GBP and now I entered long with the target as in the picture.
retest of resistance level market is currently retesting previous level of resistance with some signs of rejection on the 30 minute and 15 minute time fame, although it does seem to be breaking through. if it does break, there should be a retest before continuing to the upside
here is a free signal, waiting for a confirmationthis is how I plan to trade this pair, my confirmation will be a 4hr candle close below 0.92507...
rejection on major level of resistance There seems to be signs of rejection upon the 91.146 level of resistance as bullish momentum has decreased
Breakthrough or reject of resistanceLooks like the market is retesting previous level of resistance for the third time at 0.52621its possible that it could break through since its a third retest of this zone and volume looks promising keeping a close eye on how the market reacts around this zone
