ShivkumarMenon

ShivkumarMenon

Markets have been riding downhill for a long time now and closer to parity.....BIG intersections at these Levels Watch out ....

ShivkumarMenon

Gold is at a very critical support level, threatening the bullish structure. In the short term I do see this as a very good buying opportunity, the risk is below 1720, a break which could eventually test the 1678 handle and a break will subsequently bring markets to the 1422 handle (projected target in the long term) Coming to the immediate bullish structure,...

ShivkumarMenon

Market have been coiling in a stubborn range for sometime now, but at the same time respecting key levels and moving exactly as per technical indicators. 1822 is the key over here and as long as this level holds we could see a move up towards area closer to 1920. The bears should kick in again and drive markets below 1822 and then 1677. In case 1822 breaks here...

ShivkumarMenon

One can go long at current levels or closer to the 28700 handle, mind you there is nothing below 28700 and a convincing break below 28700 will take markets to the 18K range. One really needs to be careful trading crypto, its not the best of the instrument to have in your portfolio. Don't just get into the markets because of random news or FOMO or the MOON :)...

ShivkumarMenon

The best part about trading is "buy at high and sell at low" or did I miss a point or so... over the last many years retail crowd follows the golden rule of buy at high and sell at low and get butchered. It amuses me how people cannot understand a simple trading logic, or maybe the herd mentality can't get over. Gold for instance is the classic example over...

ShivkumarMenon

I have been short at 1995 the 61% of the correction and market come true, the targets for the shorts were around the 1835 mark. I have exited my shorts and looking for buy at current levels with stops below the rising trend line. We could go back to the 1950 handle and bears will come back hard. If markets has to break 1835 we could go as low as 1679. Will market...

ShivkumarMenon

market is carving out a plausible H&S pattern, break of 1911 (so called neckline) will take markets to the 1950 handle, over all the trend is bearish and we can still see a drop towards 1836. use your stops

ShivkumarMenon

Thats a monstrous inverted head and shoulder pattern on a monthly chart, shorts be very careful

ShivkumarMenon

Market carving out a typical bearish flag patter, I wouldn't want to add longs here for few pips, instead will look to short around 1970 levels or on a break of the flag, once we have the short set up in place look for targets closer to 1820 and 1775 in extension

ShivkumarMenon

Market is making a larger H&S pattern, and as long as it is below the 190 handle expect market to make a decent correction towards 1745. Break of 1906 will accelerate the slide

ShivkumarMenon

I see a lot of articles where traders are trying to draw all possible lines and diagrams to justify their particular trade, and unfortunately they are all trading against the trend and forcing markets to go the other way round. Unfortunately markets are currently going down and we should be hitting 1875 region before any substantial correction, I am short from...

ShivkumarMenon

I did mention about a possible H&S pattern in the making while prices were around 1992, it did form and as expected the downside spiral has come into action, price breached the 38% with ease and now settling around the 50% mark, move stops below the 38%, I don't think the 50% level would hold too long and we should see a drop towards 1891 which is the 61% mark.

ShivkumarMenon

I do apologize for the disaster drawings :) anyway head and shoulder pattern in the making, 1975 gives away we are heading to 1875, stops should be at 2022 and that ironically is the year we are also in...use stops and ride the bus

ShivkumarMenon Updated 

looking to sell against the high with targets around 1940/1920...use stops

ShivkumarMenon

I don't want to chase this markets, anyway its hit the upper rising line and we may see some pull back towards 1945. War or no war the market has stretched a lot and there could still be a meaningful correction, 2030/2045 are interesting levels and market could see a significant drop to 1875. use your stops wisely and don't chase markets

ShivkumarMenon

I was skeptical to join the longs after the break out at 1835, markets were still capped by the trendline at 1958 from early Jan 2021. Longs can be initiated at current levels or closer to the lower band of the trend line, there is a important major support at 1833 and as long as this level holds market will go back to 1863/1870. A clear break of 1870 will...

ShivkumarMenon

I wont be joining the bulls at these levels, it clearly looks like some correction, will bear take over or the bull continues is to be seen, anyway if there is a clear break of the 18769/71 handle we will see much higher levels towards 1914 and beyond. If markets do have to correct from here we will see lower bands towards 1780. A break of 1755 will drag markets...

ShivkumarMenon

1766 is the double bottom, 61% of the rally and a trend line from the march low, if this level holds we will see 1845 , a break will take market to 1745 before resuming the uptrend, the uptrend is still in place as long as march low holds use your stops and dont ride losses