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Bearish Engulfing

TSLA: Two scenarios for us to work with!Hello traders and investors! Let’s see how Tesla is doing today! First, in the 1h chart, we see that it is trading inside a short-term congestion , between the red lines. Today, Tesla just retested the upper line, and it seems it won’t break it right now. In fact, it is doing a bearish engulfing. The 21 ema is useless during congestions, so it is not a reliable support/resistance level. On the bright side, Tesla is not in a bear trend anymore , as it is not doing lower highs/lows. Now, this congestion will determine the direction of the next movement. We might see a breakout from the $ 560 or the $ 592, and we can set targets for both scenarios. Let’s see the daily chart: We have a congestion in the daily chart as well, and we are in the bottom area. If Tesla loses the $ 560, the next target is the $ 538, and below that, we have the $ 400 area. But if Tesla breaks upwards, it has the $ 690 as the next technical target, but maybe the 21 ema will hold the price briefly. Anyway, we must take care now, and be prepared for different scenarios. If you like this analysis, remember to follow me to keep in touch with my daily studies, and remember to s upport this idea if it helped you ! Thank you very much!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
BTC - W1 - WARNING ! BEARISH ENGULFING PATTERN !!!W1 : Last week price action triggered a BEARISH ENGULFING PATTERN ! Interesting to note that lowest seen was 51'541, close to the 38.2% Fib ret @ 51106. Of course, such kind of bearish candlesticks, should be, in this W1 time frame, confirmed on a closing basis at the end of this week ! Nevertheless, the fact that we get out of the uptrend channel is one of the first warning signal that the former bullish trend could be over. Watch shorter time frames to monitor the ongoing price action which would allow to act accordingly on the time frames you choose for your trading strategies ! Have a nice trading week, all the best, take care and have fun ! May your long goes up and your short goes down. And finally, please do not hesitate, of course, if you find, my technical analysis approach, valuable for you, to like it and to add me, if it is not done yet, on your following list. Ironman88848
BITSTAMP:BTCUSD
by Ironman8848
GE: Some patterns you should be aware of!Hello traders and investors! Let’s talk about GE again! As we discussed in our last study, GE reacted quickly and denied the bearish pattern seen in the hourly chart of an Island Reversal , and it filled its gap. As usual, we have some congestion now, but only after it stressed the 21 ema in the daily chart. Also, if you missed my previous analysis on GE, the link to it is below this post, as usual. Now, in the daily chart, we have an idea of a H&S chart pattern, but it wasn’t triggered yet. In fact, if GE denies this pattern and defeats the last “shoulder” by trading above its high, probably we’ll see a continuation of the bullish momentum. Today, we had a classic Bullish Engulfing candlestick pattern, which has a good chance of working as a reversal in the next few days. Now, to the weekly chart: It is natural to see some exhaustion signs, after all, GE just hit an important resistance level at the green line (the high before the Covid’s crash), and it is far from the 21 ema. We had a Bearish Engulfing 2 weeks ago, which wasn’t triggered as well, so, GE is just moving sideways, and this is a nice sign, as crazy as this sounds . When a stock goes up too fast, it must rest a little bit, but when the stock rests while moving sideways, it means the buy force is still present, then we have a sideways correction – or as I like to call, Time Correction . So, let’s not be frustrated or surprised if GE keeps trading sideways until the 21 ema hits the price. Meanwhile, let’s keep studying it, and if you liked this analysis, remember to follow me to keep in touch with my daily studies, and support this idea with your like if you’ve read this far! Thank you!
NYSE:GE
by Nathan_The_Finance_Hydra
US10 Y - TREND REVERSAL IN PROGRESS...D1 : Recent price action is showing a trend reversal in progress. Indeed, last Friday a "doji" (uncertainty and indecision) took place which has been followed yesterday by a bearish engulfing pattern ! Today's ongoing price action continue to move to the downside. Watch carefully the Tenkan-Sen or Conversion Line, currently @ 1.6140 as the first important support and last but not least, at the MID BOLLINGER BAND, "T H E L E A D I N G I N D I C A T O R", currently @ 1.5620 as a pivot level for the ongoing session (s) If you find my analysis valuable for your trading, please do not forget to like and follow me Have a nice trading day All the best Ironman8848
TVC:US10Y
by Ironman8848
2
ZOM: Key Points we must keep in mind for the short/mid-term!Hello traders and investors! Let’s talk about ZOM today! It’s been a while since my last analysis, so we have some points to update. And if you missed my last public analysis, the link to it is below, as usual. First, ZOM reversed the short-term bull trend that we discussed in our last study, shortly after a breakout of a key point at $ 2.34. Now the trend is bearish , as we have lower highs/lows, and the 21 ema is pointing down. Today, it lost the support level around the $ 1.94 (red line) by doing a gap. If this gap is going to be filled in the next two days, it could be an Exhaustion Gap , and work as a reversal pattern for ZOM. Now, let’s see the daily chart: In the daily chart the situation is not as horrible as it looks like in the 1h chart, as ZOM is clearly still inside a congestion . As it is normal in congestions, the price could seek its base and the situation would still be under control. Meaning, ZOM could hit the $ 1.48 again, and this would be a buy opportunity. Another point worth of noticing is the low volume , which indicates that this is not a real sell-off. If it were, the volume would be higher. ZOM did a false breakout from the $ 2.25, which was the key point we discussed in our last analysis, as it closed above it, then in the next day it did a classic bearish engulfing , which pushed the prices down. Now, ZOM needs another clear pattern to reverse the bearish bias, and make it retest the $ 2.90 again. A ny good reaction, with good volume will do. I like the fact that the bullish candlesticks have higher volume than the black candlesticks, on average, in the last few days. This could indicate a possible rally next; we only need some confirmation. And remember to follow me to keep in touch with my daily studies and updates on stocks, and if you liked this idea, remember to support it with your like! Thank you very much!
AMEX:ZOM
by Nathan_The_Finance_Hydra
4
BTCUSD - D1 - DOUBLE TOP IN PROGRESS...D1 : After having reached the triangle formation target of 58058 and making an intraday high yesterday @ 58155 profit taking pushed down the BTC towards a low so far of 56632. Looking at the global picture in D1, we can see a potential double top formation in progress (58354 & 58155). Usually, the second top should be higher than the first one but some tolerance could be accepted. Therefore, I would strongly suggest to watch very carefully the ongoing price action during the day. Indeed, a failure to stay and close above the first significant support of 55918 (middle level of yesterday long white bullish candle) should be seen as the first signal of a potential trend reversal as such kind of price action would trigger a BEARISH ENGULFING PATTERN. Moreover, technical indicators are not for the time being, showing great support and conviction, for a continuation move on the upside. Watch carefully ongoing price action in the coming hours, on shorter time frames, H4, H1 and M15 to get early signals of validation or invalidation of this potential trend reversal formation. On the other hand, a new high closing above 58354 (Feb 21st) would invalidate for the time being the above potential bearish scenario in opening the door for higher level towards 61075 (Fib proj 50%) ahead of 65575 (Fib proj 61.8%) Have a nice trading day and have fun All the best Take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
4
BTC - H1 - TRIPLE TOP !H1 : Recent price action triggered a triple top formation coupled with bearish divergences !!! Bearish engulfing pattern, confirmed by another long black candle pushed BTC down, breaking on its way the former uptrend support line in moving down below Tenkan-Sen, Kijun-Sen and Mid Bollinger Band. Next short term support is now @ 52650 former peak of March 3rd ahead of the clouds support area which iscurrently very thin = FRAGILITY !!! Interesting to note that the 38.2 % Fib ret is @ 52200, in the middle of the clouds area ! Watch also carefully M15 to detect early signal (s)
BITSTAMP:BTCUSD
by Ironman8848
1
BTC - H4 - TENKAN-SEN UNDER ATTACK !H4 : After the strong triangle breakout and as expected BTC lost momentum and last candle triggered a bearish engulfing pattern. For the time being, the first support (Tenkan-Sen) hold; nevertheless, technical indicators are switching from the sideways to the downside which may be the first signal (s) of a short term trend reversal. A failure to hold above TS @ 53554 would put the focus on MBB @ 51992 (roughly the level of the triangle breakout, such kind of correction would complete the expected pullback and if occurs, it should be seen as the REAL TEST of a successful upside breakout. Indeed, it is crucial, in order, to maintain the bullish tone, to stay and hold above 51500 (Kijun-Sen) as a failure to do it would invalidate the triangle pattern and reopen the door for lower levels. Watch shorter time frames H1 and M15 to get intermediate signal (s) which will allow you to act accordingly. Have a nice trading day. All the best Have fun and take care.
BITSTAMP:BTCUSD
by Ironman8848
1
MSFT: We all must be aware of these KEY POINTS!Hello traders and investors! Let’s talk about MSFT today! The volatility increased a lot recently, so, let’s see the daily chart first, followed by the weekly chart. Yes, MSFT is doing a correction right now, which is fine, considering it performed very well a few weeks ago. In fact, MSFT did a Bearish Engulfing , just after it retested the 21 ema, and this made it drop to its support levels. The first support level is the black line at $ 227, which was a previous resistance, and now it is working as a support, an expected movement according to the Principle of Polarity . The other support is the purple trendline, which was a previous resistance for this huge Symmetrical Triangle pattern. Keep this Triangle in mind, we have more to say about it. Meanwhile, the volume increased, along with the volatility, meaning that this is not an easy time for MSFT, and if it loses these support levels, it could easily retest the lower purple trendline . Therefore, we must see a reaction quickly. Now, then weekly chart: The Triangle chart pattern seen in the daily chart is a Pennant pattern in the weekly chart, and both reinforces a long-term bullish bias on MSFT. Now, all we can assume is that the stock is doing a correction in the weekly chart, after a breakout of this Pennant, which makes sense. Since this Pennant is a Symmetrical Triangle in the daily chart, and this pattern has a pullback rate of 65% after a breakout, this movement makes statistical sense. What’s more interesting is that it just hit the 21 ema , which is another support level for MSFT. The volume is quite high, and the situation is still dangerous, but if we see any bullish reaction around, the bearish sentiment seen in the last few days could come to an end. We don’t have a buy signal, but this is definitely not a bear market yet (no lower highs/lows) . Right now, is time to wait and manage positions. If you want to keep in touch with my daily analyses, remember to follow me . And since you are still here, please, support this idea . Probably you found it interesting, or you wouldn’t still be reading this. Thank you very much, have a nice weekend!
NASDAQ:MSFT
by Nathan_The_Finance_Hydra
4
BTCUSD- W1 - MIRROR EFFECTW1 : Global picture is showing a "mirror effect" in progress. Last week price action triggered a long black candle (bearish engulfing pattern) which filled the 23.6 % Fibonacci retracement @ 45491 (3850-58354) and reached an intra-week low of 43021 ! After this sharp downside, it was more than likely to see some recovery which took place in pushing up the BTC towards a high, so far of 46875, which globally should still be seen as an "healthy" corrective move in a still a broad bear trend ! In order to neutralise this ongoing bearish price action, in W1 , we need to see a move which should break, at least the level of 51362, which is the middle of the bearish engulfing pattern). Watch D1 for clues Have a nice week
BITSTAMP:BTCUSD
by Ironman8848
3
Bearish engulfing SPY /weeklyIn the chart, you can see all the bearish engulfing signals on the $SPX from 2018. They have all resulted in corrections over the next 3 trading weeks, or a much stronger pullback during 1 week. For a deeper dive on a daily chart view analysis, go to the related ideas below (Market Internals in Trouble) . Positive Note: If we can rally and close on a weekly basis above the high of the bearish engulfing candle; that could would negate the down-trend signal.
SP:SPX
by dorfmanmaster
6
SPX: New record! What's next? A complete analysis (H,D and W).Hello traders and investors! Let’s analyze the SPX this Friday, and do our usual complete Multi Time Frame Analysis (MTFA) by looking at the 1h, D and W charts! The index did a new record high today, which is incredible, and so far, there’s no top, pullback or reversal sign around here. The black line at 3870 is a support level, but the index could drop all the way to the 21 ema, and the trend would still be bullish. The 3827 seems to be another Key Point , but the 3870 is more relevant, and we can see why by looking at the daily chart. The 3870 is the previous All Time High, and if the SPX closes under it next week, then the odds of a sharper pullback increase dramatically. In the daily chart we have some very solid and strong support levels at the 21 ema and purple trendline area , and this area would be a target if the index loses the 3870 again. We should be aware of the low volume seen this week, which is not following the price. According to the 5th Tenet of the Dow Theory, “the volume must confirm the trend”. When we see a divergence like this, is an alert sign to us. Now, the weekly chart: Yep, the index denied completely the Bearish Engulfing seen last week, frustrating any expectation of a pullback to the 21 ema in the weekly chart. Now, the index is doing another ATH, giving a headache to the bears, and again, not a single top/pullback/reversal sign around. We must keep our eyes open and focus on the points mentioned in this analysis, and if you liked it, remember to follow me to keep in touch with my ideas, and please, support this idea if it helped you! Have a great weekend!
SP:SPX
by Nathan_The_Finance_Hydra
9