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The breakout of a cup and handle pattern on HDFC Bank, one of the major constituents of the BankNifty index, is a positive signal for the stock and could potentially contribute to bullish sentiment for the banking sector and the BankNifty index as a whole. If HDFC Bank continues to exhibit strong bullish momentum and moves towards its next resistance level, it...

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In the first scenario, if BankNifty manages to break through a key resistance level, it may present a potential buying opportunity for traders who are looking to capitalize on the bullish momentum. These traders may wait for a retest of the resistance-turned-support level before entering into a long position, as this can provide a favorable risk-reward ratio. In...

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Reliance Industries Limited (RIL) looks attractive for a swing trade based on its current technical setup. The stock has been trading in an uptrend, with higher highs and higher lows, since December 2021, indicating a bullish sentiment. In addition, RIL's relative strength index (RSI) is currently above 50, indicating positive momentum. Furthermore, the moving...

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"Bearish signals on the EUR/USD chart! 📉🐻 This order block highlights a potential price reversal, with key support levels to watch. Keep an eye on this pair for potential trading opportunities."

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"Banking stocks have been on a rollercoaster ride lately, but this chart shows a potential buying opportunity. 📉📈 Stay alert and keep an eye on these key support and resistance levels."

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What is an order block? Order block is a market behavior that reveals the pile-up of orders by large entities. In forex, the order blocks are used by the banks to split their big orders into small chunks so that they get their orders filled at better prices without disturbing the market equilibrium

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he right way to make use of order blocks is to consider them as a high-probability trade setup alongside your key trading strategy. Order blocks are not usually formed; hence, they cannot be used as a single strategy. If you use order blocks as a trade setup, you can find really high-probability trade entries, and you can use them to reap additional profits...

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The term "supply zone" in the context of currency trading refers to a price level where there is a significant amount of supply (i.e. selling pressure) in the market. In other words, it is a price level at which traders are willing to sell a large amount of a currency, causing the price to potentially drop. In the case of the EUR/USD currency pair, a supply zone...

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How to identify demand zone ? First of all look at the chart. Look at the left hand side of previous low where the previous strong rally started. Find out the origin or start point of the strong rally. Draw two parallel lines: 1st line at low and 2nd line at nearest close.

Chetan_alpha Updated 

The right way to make use of order blocks is to consider them as a high-probability trade setup alongside your key trading strategy. Order blocks are not usually formed; hence, they cannot be used as a single strategy. If you use order blocks as a trade setup, you can find really high-probability trade entries, and you can use them to reap additional profits...

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The 3 things we look at before entering are: 1. Look at the overall market structure ( Higher Highs and Higher Lows or Lower Highs and Lower Lows. Bearish or Bullish ). 2. Look for supply or Demand zones according to the higher timeframe trend ( So if the higher timeframe trend is a down trend then you would look for supply zones and if you are in a bullish...

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EUR/USD ANALYSIS USD factors continue to dictate terms for EUR/USD. Mixed signals from ECB speakers highlight uncertainty. Rising wedge remains relevant on daily chart. EURO FUNDAMENTAL FORECAST: MIXED Friday saw the euro slip back below the 1.05 handle after better than expected Non-Farm Payroll (NFP) data which reinforced the tight labor market in the U.S.....

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An order block appears after a strong uptrend or downtrend. Then the order block looks like a bottom or top. Price escapes the order block with high momentum breakout, or it results in a reversal of a trend. Price should not remain held in the order block for a longer period. For drawing a bearish order block, simply mark the high of the rally and the recent...

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Order block is a market behavior that reveals the pile-up of orders by large entities. In forex, the order blocks are used by the banks to split their big orders into small chunks so that they get their orders filled at better prices without disturbing the market equilibrium. Order blocks are the same as supply and demand zones, but they are rare, and they can be...

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For big institutions and traders with a need to fill large orders, finding pockets of enough liquidity is absolutely essential. A market’s liquidity has a big impact on how volatile the market’s prices are. When these big players take positions in the market, they obviously aim to be filed at the best possible price. However, given the size of their positions,...

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USD, Gold, EUR/USD Talking Points:This morning brought the release of CPI data out of the US for the month of October.The data came in well-below expectations, with Core CPI coming in at 6.3% against an expectation of 6.5% and headline CPI printing at 7.7% versus an 8.2% expectation.This has led to a massive move already, with an instant fall in the US Dollar that...

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The dollar advanced against several major currencies on Wednesday, as results so far for the midterm elections showed little evidence of a "red wave" resounding Republican victory that some expected, leaving investors to focus on upcoming inflation data. A stronger showing by Republicans may have backed the idea of less fiscal support and potentially a lower peak...

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EURUSD has gathered recovery momentum and advanced toward 0.9800 in the early European morning on Friday. Later in the day, the October jobs report from the US is likely to impact the US Dollar's (USD) performance against its rivals in a significant way and drive the pair's action ahead of the weekend. The sharp upsurge witnessed in the EURGBP cross on Thursday...