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Bearish Engulfing

XAUUSD Good sell opportunity!Hey guys, Based on the chart price is in a good situation for opening sell positions on XAUUSD. But let's go deeper on our reasons and see what's on the chart: 1. Price is in a downtrend ( Bearish ) 2. A correction have happened --> price reached to 0.618 Fibonacci and dropped ( Bearish ) 3. Bearish Engulfing Candlestick ( Bearish ) 4. Currently price is in an uptrend channel ( Bullish ) 5. Hidden divergence on RSI(14) ( Bearish ) So based on our analysis the bearish movement is more possible than the bullish one. So it leads us to be seller which have more probability and makes good risk reward ratio. One good trading scenario for this case is waiting for the price to reach to the top of the channel and opening sell positions regarding to considering risk management rules. So it is our analysis about XAUUSD. But please let us know what do you think about it? Buy or Sell and why? Any idea would be welcome and valuable for us. Good luck!
FOREXCOM:XAUUSDShort
by Brian_Philips
2
GRTUSDT At a key level!Hey guys, As you asked about GRTUSDT, We can say that the price is currently on a support area(However it is not a major) and we have different scenarios for it: 1. Breaking the support area: it would be possible for price to drop till 0.5 2. Rejection happening: At this situation the next target would be 1.1 ----------------------------------------------------------- But let's see what we have on the chart right now: 1. Price made a new higher high and higher low ( Bullish ) 2. RSI hidden divergence ( Bullish ) 3. Support area ( Bullish ) 4. Double top pattern ( Bearish ) 5. Strong bearish engulfing candlesticks ( Bearish ) 6. Breaking the trend line and a pull back is done ( Bearish ) ------------------------------------------------------------ What's my idea? Honestly speaking we don't have enough proofs to be seller or buyer at the moment. But as the Bitcoin market is bearish and here we have strong bearish engulfing, so I have more bearish bias at this situation. It was my opinion, but please let me know what do you think about this market? Bullish or Bearish and why? Good Luck!
by Brian_Philips
4
Daily shooting star reversal candle + bearish engulfing (BTC) Hello traders, Daily timeframe analysis: bearish confluence ✓ 1) shooting star reversal candle. 2) bearish engulfing candle on the following candle which confirms the initial reversal candle. 3) top of the rising wedge. September is probably going to be red, as it aligns with the rising wedge and recent price action with the candle stick patterns. Stay safe, and feel free to comment if you have any further questions or comments, also please like this post as it means a lot and shows support to my page. 👍
BITFINEX:BTCUSDShort
by YurloTrades
9
BEARISH ENGULFING CANDLE CONFIRMED (1+1=SELL) BTCHello traders, Here's the fully developed technical analysis I've put together after the last 36 hours of going sideways in the overbought zone. Stoch rsi (momentum oscillator) is finally starting to point down after confirming a bearish engulfing candle on the 3 hour timeframe. 3 doji's with the most recent candle looking ready to increase sell pressure at any given time. Some time's you need to remain patient as price action develops and wait for the right things you'd like to see for conditions to be met. Asia likely destroys the market tonight, wouldn't want to be in any leveraged longs as 25x longs will likely be targeted next. Like previously stated in my last few technical analysis, the liquidity is now down. Elon, Jack, and Cathie's discussion lured traders into buying higher and now big money's bags have been filled and liquidations will be coming for bulls soon. 36 hours in the overbought condition going sideways will be interesting to see how hard it comes back down. Downtrend has 3 validation touches now and uptrend only has 2, bulls need to show strength around $30,888 or else we likely head back down to retest $30,000. Stay safe fam. Please show your support by leaving a like/comment! 👍
BITFINEX:BTCUSDShort
by YurloTrades
13
USD/JPY Dominant Uptrend at Risk, Where to From Here?USD/JPY put in a convincing break under rising support from the beginning of this year, opening the door to a lasting turn lower. This also followed the emergence of a Bearish Engulfing candlestick, further compounding the argument to the downside. Now, the 23.6% Fibonacci extension is sitting below as key support at 109.51. Breaking under would expose the 100-day Simple Moving Average which could reinstate the dominant focus to the upside. Still, there could be room for even more prominent losses until the pair touches the 200-day SMA. At that point, the pair could open the door to resuming gains.
by QM_Dubrovsky
1
PLTR: Time to panic? A Multiple Time Frame Analysis!Hello traders and investors! As you asked, I’ll look at PLTR again this week! Some people are getting nervous about it, so, let’s talk about it. We'll do a complete Multi Time Frame Analysis (MTFA) today. First, as some of you pointed out, yes, we have a H&S pattern in the 1h chart, which was triggered, and it already hit its technical target, at $ 24.52 (previous bottom). Now, not by coincidence, it is starting to react. This point is a good bottom candidate. If you look at the daily chart, PLTR dropped sharply since it retested the resistance at $ 27.47. This movement was extremely technical, as PLTR hit the resistance, did a bearish engulfing, and now it is seeking supports again. But remember: The trend is still bullish . We have higher highs/lows, and the 21 ema is going up. We are slightly under the 21 ema now, but that’s ok. PLTR went up a lot since May’s bottom. The weekly chart gives us another clue about PLTR. It is dropping sharply this week (-8%), but the volume is extremely low, indicating that this is not a true sell-off, but only people not interested in trading PLTR at $ 27, so the price must drop a little bit more to get more interesting. This bearish candlestick came after a series of seven white candlesticks in a row, so, this was already expected , and there was no better top candidate than the resistance at $ 27.47. As this is just a pullback, in my view, I see no reason to panic, and I still see PLTR filling the gap at $ 31.34. I hope my insights helped you, and if that’s the case, remember to follow me to keep in touch with my studies, and support this idea if you liked it ! Thank you very much, have a good weekend!
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by Nathan_The_Finance_Hydra
12
What you should know about PLTR! 👀What you should know about PLTR! 👀 Today PLTR stressed our support levels we talked about yesterday, but it didn’t break them. These supports are holding the stock pretty well, and the more it accumulates above these levels, more interesting will be PLTR’s next movement. I think this is a good movement on PLTR. The BBs are getting tight again, and the RSI is starting to get oversold. But maybe this is not enough: We just hit a resistance, and we have a bearish engulfing in the daily chart. The pattern was triggered today, and the RSI has a long way before it gets attractive again. All of this indicates more correction, but I don’t think this correction will last too long. The closer it gets to the 25, the better. Soon it’ll give us another trade. No, it is not the time to buy, thanks to these signs, but it is not the time to go short either. Let’s calmly wait for our next play. I’ll update you guys every day. Keep in mind that our target is the 30s! If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
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by UnknownUnicorn21312077
4
I warned you about the 27.01! 😱The situation is quite simple on PLTR today! We are dropping, just as we expected, because it lost the 27.01 that we talked about yesterday, and now PLTR is looking for support areas to hold itself. No, it won’t drop forever, and it’ll recover at some point, the question is, which point? We have a pivot at 26.45, if triggered, I don’t think the 26.26 will hold it, and we’ll drop more – but not much more. We are still a little overbought in the 4h chart, and if PLTR drops to its red line again, it’ll be great. The situation is more serious in the daily chart, tho. We have a bearish engulfing that could make PLTR drop to the 25s again. The RSI is overbought here too. We must be careful. We must watch the pivot in the 30min, as it’ll tell us if PLTR will turn bearish for now, or not. If it turns bearish, we’ll look at the 25 – 26 area, as it might be a chance to buy! PLTR is moving according to our plans, for now! If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
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by UnknownUnicorn21312077
5
PLTR: Harmless pullback or reversal? How to tell the difference!Hello traders and investors! Yes, PLTR hit the $ 27.45 as we said it would in our last study (the link to my previous idea is below this post), but what to do now? The $ 27.45 is a secondary target in my view, but it is working very well as a resistance. Now we can expect some struggle around this area, and the fact that PLTR dropped below its 21 ema in the 1h chart reinforces this idea. It is interesting to notice that it is dropping a lot, but the volume is not that good . This tells us that this is not a true bearish movement, just a harmless pullback. This resistance is quite relevant in the daily chart, and today we have a Bearish Engulfing (so far). This might cause a pullback to the purple trendline or even to the 21 ema again. This wouldn’t be surprising, and PLTR will still remain bullish. Remember: In a bull trend, we have higher highs/lows, but we do have lows . Sometimes, people get anxious when we are doing higher lows, and think it is the end of the world. To identify a harmless pullback, just look at the volume: If it is dropping, with lower volume, than it is just a pullback. This follows the 5th tenet of Dow Theory: The volume must confirm the trend. If the volume doesn’t confirm the trend, we must be careful. If you see a bearish structure, like lower highs/lows, then we are talking about a reversal sign. Today’s movement doesn’t change my target on PLTR, at $ 31.34, and since we bought around the $ 20, we are in a very comfortable situation. If you liked this analysis, remember to follow me to keep in touch with my daily updates. Also, support this idea if it helped you! Thank you very much!
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by Nathan_The_Finance_Hydra
39