LoveForCharts

LoveForCharts Updated 

NYSE:RH This time its time to look at RH RH has been moving upwards and forming an uptrend since early June 2019. A quick look on the chart and we can establish a few key support/ resistance lines Support 1 : 218.23 Support 2 : 206.60 Support 3 – 192.12 Support 4 : 171.34 Resistance – Stop buy entry level : 228.72 Resistane 2: 243.84 There seems to be...

LoveForCharts Updated 

This is a continuation of my previous chart. I am providing an update and will do that regularly on this chart as this is a set up stage and we are in a very interesting timezone for this stock. The important number for us to look for closing price on this chart is 219.39 on support and 229.64 for positive breakout confirmation. Price opened at 221.83 quickly...

LoveForCharts

While Nifty 50 on weekly charts still looks positive and we await signals on alternate time frames to see for signals, lets have a quick look what the monthly chart is suggesting Observations : 1. We have seen (you can see my other post on Nifty Next 50) that the Next 50 stocks are not making new highs like the Nifty 50 (sign that not very broad based move, not...

LoveForCharts Updated 

NSE:NIFTY looks exciting on charts on weekly as well. If you see my H4 chart analysis, we saw we were in an uptrend and crucial levels for resistance. On the weekly charts too, we seem to have entered a nice uptrend. Important zones and levels have been marked for your reference. Play long Nifty for daily time frames should be along the trend trades A good...

LoveForCharts

Nifty weekly chart is very interesting to look. 11,941 is a critical support while we have seen good support in the past at 11,173 levels also and these are levels to look out for (as indicated in the charts) NIFTY has been on a secular uptrend if you see the chart and there seems to be little on weekly chart showing any sign of change in trend. Look out for...

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FX:USDJPY USD JPY has broken downwards on the attempt to create an up-trending channel that it had created recently on Daily TF If you see carefully the charts, I have laid down the various important levels S1 : 107.869 S2 : 106.754 S3 : 105.217 R1 : 109.748 R2 : 112.342 With Downwards breakout and ADX showing increase in the current trend, I feel more...

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AMEX:KRE KRE, looks good to push higher! CMP : $57.28 We are witnessing a continuous higher high and higher low on the RSI indicator and price has just been pushed lower by the Resistance Line (R1) @ $58.60 levels Price has already created a support level near $48.87. Important trading levels R1 : $58.60 R2 : 65.77 S1 – 50.88 S2 : 45.16 S3 : 36.25 RSI...

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The story of Gold. Lets look at weekly charts first on XAUUSD. 3 observations 1. RSI over the last 20 weeks has fallen 2. Price fall is in line with RSI during this time of 20 weeks 3. Price has formed a descending triangle and has just broken out of the descending Triangle Actionable : Upward breakout bullish, wait for confirmation ( Next few candles are...

LoveForCharts Updated 

Now that we have looked at the weekly charts, where we saw signals, link attached below for your reference, lets take a step back and look at what is happening on the monthly charts Out here, we see, price has rebounded/ rejected from the Resistance level of USD 1556 and has been inching downwards Below are the various support levels S1 : 1406 S2 : 1333 S3:...

LoveForCharts Updated 

XAUUSD analysis continued Continuing from our weekly and monthly reviews, we analyze the daily charts to look for cues After a good long run up from end of May 2019, price went into a downward channel from Sept 2019. Price has just broken out of the channel. However, one must beware and look for confirmation before going long. RSI is showing a bullish...

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NSE:VEDL on the H4 chart approaching oversold zone on the RSI which is coinciding with the bottom of the sideways channel formation and on the daily charts we can see that is currently in the mid green zone on RSI, price could test 139 levels. Watch out if the price bounces off support , if yes, may go upwards toward the upper channel. Ideally, don't trade the...

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MA has moved strongly as visible in the charts, creating some turbulence with downward pressure in the recent past but inching forward towards the 300$ mark. I thin there is more steam in the stock and we have strong supports in place, at least 3 levels as identified on the charts. I would have a target of 315-320 on the upside, but will buy at various supports...

LoveForCharts

In continuation to my previous chart on CQQQ, price has continued to move up in the channel and broken the previous resistance of 52.30, which will now act as immediate near-term support levels for the ETF Meanwhile, price continues to make higher highs and higher lows, indicating current trend is upwards Chart is self-explanatory Important Support and resistance...

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AMEX:CQQQ on daily charts is trying to finds its wings to fly, awaiting clear direction I have showed a few cases here, where after a significant up-move, we had a double top formation and also bearish divergence on the RSI, indicating high probability that the uptrend may end and fizzle out and then after a significant downside, price formed a double bottom,...

LoveForCharts

TVC:USOIL on H4 charts was in an uptrend which looked to have entered a momentary pause While now it may still be looked as in a channel, but seems to be making higher highs and higher lows, slowly but steadily moving upwards Watch out for breakouts on channel and then await confirmation signals to buy Cheers

LoveForCharts

Please refer my article below. I had shared some quants on how markets have behaved in the past in trading sessions before and after Jobless claims data being published Below are pointer and the feedback on the performance so far! 1.75% of the time ( 9 out of 12 times), SPY has given an average return of 0.7% 1 week prior to Jobless Claims data announcement...

LoveForCharts Updated 

As discussed in my previous charts, NSE:VEDL was looking to make a move from Downtrend to an uptrend by breaking the previous high and making higher low. We were looking for a continuation of this and wanted to see more confirmation by another higher high and higher low being created. However what we are seeing is a congestion zone (more of a rectangle channel)...

LoveForCharts Updated 

Long OANDA:CN50USD , Like I mentioned in my previous posts, price has formed a higher high and is on its way to test the support levels, as per the trend line. Price hit the support line and closed higher! Look at the RSI. key is to look at price making higher moves and change in RSI back upwards after finding support in the Green zone (in the center) IF the...