Expecting 10-15% correction in Nifty very soon.After Great rally it seems like nifty is now tired and ready to correct till these levels. I presume that Nifty is not going to correct very sharply but it'll kill both bears and bulls in this fall so its better to stay away from markets for some time untill everything settles down.
Nifty needed a good correction and according to how chart is forming i believe its going to correct very soon but..
'Expect the unexpected' xD
Rally
$CLF earnings analysis*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Recap: My teams still holding $CLF shares from our three entries at $13.27, $18.06, and $20.60
We are not planning to sell anytime soon...In fact we have actually removed our original take profit from this trade in anticipation of the bright future this company holds.
Earnings are expected to be released premarket on 10/22/2021.
We're not huge fans of the current chart set-up from a technical perspective, but looks can sometimes be deceiving. Either way we're not selling our shares. If you do not have any early entries on $CLF my team highly recommends that you proceed with caution...but if you do then just sit back, relax, and enjoy the show. In the long-term we have absolutely nothing to worry about the way things currently stand.
Good luck to all.
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$TLRY girl scout sniper*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
$TLRY and other cannabis related stocks have finally broken out of bearish territory. My team doesn't expect this brewing bullish momentum to slow down any time soon, especially with loosening regulation around the corner.
My team entered $TLRY today at $11.56 per share and plan to take profit at $29.
Their next earnings report is expected to be released 11/8-11/12.
ENTRY: $11.56
TAKE PROFIT: $29.00
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USDJPY SWINGHey Traders, in the coming week, we're monitoring USDJPY for a long term buying opportunity around 112.4 - 112,8 Area.
we expect a bounce at 114.3 zone the weekly resistance before the rally to 116 - 118 zones.
use proper risk management, especially in the swing trades since the Market movements are a bit violent.
Trade safe, Joe.
EURUSD 1h DEMANDI like this demand zone area on the 1-hour chart. It is sitting on an already tested 4-hour demand zone (faded green area). The only thing it has against it is that it is counter trending against the downtrend of the Daily bias. But the consistent HHs and HLs tell me that price is going to rally for a while, probably to mitigate inefficiency and/or the institutional candle above on the Daily. With that in mind, I'm taking partials at about 1:5 but I am open to holding it much longer.
USDT DOMINANCE SPIKE: RELIEF RALLY SOON FOR ALTS/BTC?USDT Dominance measures USDT market cap against all other coins. While not as potent as BTCD or TOTAL2, it can be a helpful indicator to know what traders are doing, as many of them use USDT over fiat.
Obviously, when BTC sells off, USDTD spikes. Based on a little TA, we might expect a relief rally for the market soon. USDT is basically at resistance, but it did put in a slightly higher high. Recent volume is decreasing, signaling a reduction in selling pressure.
RSI is nearly at Overbought levels (which would be considered oversold for the rest of the market)
Just remember - When you think BTC can't go any lower... it always can.
Happy trades,
CD
-Rally- RLY Looks primed to pumpWith BTC rising Rally looks ready to go. The team just announced they are going to decentralize their platform a couple days ago. Currently at the 50ema on the hourly and pushing upwards.
GBP/CHF to rally down to 1.21963After breaking daily structure, the price tends to retest the resistance area on the daily time frame thus providing an opportunity to enter in lower time frames with a bearish bias. In the 15 min time frame was the formation of a consolidation that was broken and retested, providing a sell opportunity with the take profit at the nearest daily support and thus a hug R:R:R. So sell, sit back and watch the magic happen.
EURJPY to drop massively to 125.251A break and retest of the previous support of the head and shoulders on the daily time frame signaled for possible continuation of bearish pressure. So going done the the 15 min time frame we have a rising wedge that was broken with bearish pressure, thus the entry was made with the stop loss above the previous high. The take profit was set using the next support which is quite further down for a nice R:R:R. I anticipate the price to reach it as price has now taken a bearish turn just after a lengthy consolidation after an uptrend.
SCHW Trade RecapEarlier this week, I took a trade on SCHW on the 30 minute chart. Found it had been rallying on higher time frames (HTF) from a pullback.
I decided to scale down to a lower time frame chart to find an entry. Preferably a pull back.
Decided to enter on a bull flag.
The previous day had shown strong bullish buying pressure as indicated by the bullish candlesticks closing near their highs during the rally. The first flag that I entered on was a 2-legged pullback from the highs with a High 2 breakout. When the breakout bar closed on its high, indicating strength from the bulls, I took a long position.
My exit strategy was to trail my Risk Units. (For example, when risking $100 on a trade, $100 is 1 Risk Unit (1R). Therefore for every $100 move in profit, or every 1R move, you'd move your stop loss up 1R behind it.)
I bought more shares, equal to my first entry, on every bull flag that had occurred in the bullish trend. Therefore, I bought additional shares twice over the course of the trade. This increased my chances for earning bigger profits as long as it continued to go in my direction.
I bought my first additional shares after my stop loss had already been moved to 1R. Effectively eliminating my risk. Since I bought the new shares around 2R, my 1R stop loss was now breakeven. Due to share price averaging. So I was at no risk of losing any money.
As the trade continued to move in my favor, I continued to move my stop loss up, locking in profits.
I bought my last shares near 3R after the final flag in the move. Again, for the same amount of shares I had bought in my original entry. My size was now 3x bigger than my original entry.
After the trade had reached 4R, I moved my stop loss up to 3R and got stopped out there after the stock had came back down. Even though I got stopped out at 3R, I walked away with a 4R profit, due to buying additional shares on the way up and my risk never being greater than my original positions stop size due to my trailing stops.
$MIRM doubling down*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Recap: My team entered $MIRM on 5/28/21 at $16.30 per share.
Today we're taking the dip opportunity and doubling down at $15.60 per share.
FIRST ENTRY: $16.30
2ND ENTRY: $15.60
TAKE PROFIT 1: $20
TAKE PROFIT 2: $30
STOP LOSS: $14.90
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