Dow Jones Triangle and Eur/Usd Channel

UPDATED CHARTS OF THE BELOW POST

DOW JONES TRIANGLE

EUR/USD CHANNEL 

• The triangle gives a false break out.
• The eur/usd channel has broken. An hourly close below the channel will confirm the breakdown

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DOW JONES TRIANGLE

EUR/USD CHANNEL

• The fate of the Triangle will be decided by the channel.
• If the channel gets support and followed by an up move the triangle will get an upside breakout.
• If the channel Breaks its support line and closes below it,  the triangle will dow the same.

Dow Jones resistance points

• It seems Dow Jones has taken support at 10100 area and now the hour chart looks positive.
• But has resistance points on its way.
• First is 10200 if a successful close above that is made then comes the resistance band of 10260 to 10320 closing above this will be crucial for bulls.

Nasdaq Composite index support zone

HOURLY CHART

• I have shown the Nasdaq composite indexes hourly chart above.
• See how it trades in channels and now it is trading near the bottom of the main channel.
• A Bounce from a range of  2185-2215 can be expected.
• One should keep 2185 as stop loss because a close below 2185 means a large correction will follow.
• But for now one should try to take a low risk high reward trade here with 2185 as stop loss on closing basis.

EUR/USD Reversal attempts in daily chart

EUR/USD WITH 50 DMA

EUR USD WITH ICHIMOKU CLOUD

• The first chart shows Eur/Usd reversal attempts combining with 50 DMA. 
• White arrows show how the pair got sold off from the 50 DMA. The pair is doing a similar set up now.
• The second chart shows the resistance of the Ichimoku cloud. Even if the 50 DMA is taken out the cloud is looming large. Only a beak out and close above the cloud can be called as a valid reversal till then the pair will get sold off at every bounce.

Nifty Hourly chart in a channel

UPDATED CHART

CLICK THE CHART TO ENLARGE

• Nifty Futures hourly channel is shown above.
• The channel has given support twice. and the top line of the channel has acted as resistance as well.
• And on friday it has taken support at the bottom line of the channel take a look at the long shadow of the last hour candle.
• Let's see if the support is able to give a gap up for nifty

Nifty futures 5 minutes chart

• I posted a 5 minutes chart few days ago with support and resistance lines
• I believe those supports and resistance might help the traders again 
• This is nifty futures chart not spot.

Dragonfly Doji in oil stocks

HINDUSTAN PETROLEUM MONTH CHART

BHARAT PETROLEUM MONTH CHART

• The charts shown here are monthly chart of bharat petroleum and hindustan petroleum.
• See how the dragon fly doji appears in the monthly chart in april itself.
• Smart money has entered these stocks months ago while the news broke out last week.
• So some profit booking may take place in these stocks before they take off again.

EUR/USD Trading near resistance levels

DAILY CHARTS OF EUR/USD PAIR

• EUR/USD is trading close to its 50 day moving average.
• It coincides with a resisting trend line too so good place to short here.
• Even if it break above, The the daily ichimoku cloud which has been holding euro below it since it broke down below 1.47 is a resistance too large to break.
• So if the pair has to reverse all the three above resistance has to be broken.