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Bullish Engulfing

NZDJPY, daily tf, bulls in control for nowHello my friends, Another setup for next week is NZDJPY pairs. As you can see NZDJPY pretty much bullish since breaking above the 5 months flag pattern. For me, there is still further upside for this pair. The measured objective of that 5 months flag pattern was around 800-900 pips in my opinion. We could see NZDJPY continue to the upside until 76-77 area. Long/Buy positons will be in favor for now and we will only look to buy this pair. As you can see price right now consolidating inside a possible bullish continuation pattern right now. This could be a pennant / flag pattern. We will try taking a buy position at 73.35 area for our first buy position. This 73.35 area is our horizontal support and possibly flag/pennat pattern support. EMA-20 are also located near this area so pretty much it will be an area of confluences. As price continue higher and make another pattern which is favorable for bulls, we will add more positions. Buy limit NZDJPY 73.35 Stop loss 73.00 Take profit 75.65 (6.5 R) RR Ratio 1 : 6.5 Use only 1-2% risk Good luck
Long
by HayatoDragonFX
2
NIO: Bullish reaction at a support level!Hello traders and investors! Let’s see how NIO is doing right now! Well, the support level we discussed last week at the red line ($ 42.51) seems to be very strong, indeed! NIO retested it on Friday, and today we have a good reaction, which is a good sign. The first hour candlestick could be an Ignition Bar, and the green line at $ 46.30 is a new Pivot Point . The link to my last analysis is below, as usual. The 21 ema is flat, and it seems the price is starting to defeat it. If NIO defeats the green line, it could easily retest the pink line at $ 48.65 again, and this is another key point we all should keep in mind. Let’s look at the daily chart now: The pink line is a Pivot Point in the daily chart, and if triggered, NIO could seek the All Time High again, and possibly defeat it. The Piercing Line pattern is still valid, and today’s candlestick pattern looks like a Bullish Engulfing . If NIO closes this way, we’ll have a very good sign today. Anyway, the purple line is the last support level for NIO, and it is the Piercing Line’s low. So far, there is no reversal sign and we have the start of a good reaction. And if you liked this analysis, follow me to keep in touch with my daily updates! And please, support this idea if it helped you! Thank you very much.
NYSE:NIO
by Nathan_The_Finance_Hydra
5
EOS- Big three Dapp platformsEOS, along with ETH and TRON, is one of the three most popular decentralized platforms in terms of amount of dapps, # of users and overall transaction and volume. It is down more than 80% from ATH and is one of the top 10 most popular coins on CB. However, there doesn't seem to have any short-term catalyst for price momentum according to derivative data and fundamental analysis. I think it will be nice to slowly scale in in the demand zone and have a small percentage of your capital allocated to EOS. Set the stoploss below the daily POC. Just my two cents. Not the investment advice.
E
by Libratus
2
TSLA: Road to the All Time High.Hello traders and investors! Let’s see how Tesla is doing today! Ok, so Tesla was added to the S&P 500, and this is giving fuel to the stock right now. In my previous analysis, we discussed Bullish Engulfing , which was our last entry point on Tesla. Now it is too late to buy, but we could see an opportunity here if Tesla does a pullback. And if you missed my previous analysis, the link is below, as usual. For now, since we are trading around $ 490, I see that a pullback to the $ 462 again would be good and would offer some interesting opportunities for the late buyers. But for now, it seems Tesla is going to hit the ATH! Now, let’s see the daily chart: We have a Breakaway Gap here, which could be the start of a new bullish run on Tesla, and this seems to be a recurring movement, as every time Tesla does an accumulation, it triggers a new bull trend after a Breakaway Gap. We saw this movement on Oct last year, then on 1st Jun, Jul 2 and Aug 12. Most of these movements are followed by an increase in volume , which is happening right now too. It is not the same volume seen a few months ago, but it is a start. We are very close to the ATH, and maybe it'll offer some resistnce in the short-term, but we can't count too much on that. Now let’s see the weekly chart: Tesla did a Pennant chart pattern here, and as crazy as it sounds, it is breaking out from it this week. The volume decreased during the movement on the Pennant, which is normal and expected, according to the Dow Theory (the volume must confirm the trend). Now it is too late to buy, as the entry point was the Bullish Engulfing in the hourly chart, but I would wait for a pullback here, ideally around the $ 460 zone. This way you’ll increase the R/R ratio of your trade. Either, this movement seems to be the start of a new upside movement, and Tesla will be very interesting from now on. And if you liked this analysis, please, support it ! And follow me to keep in touch with my daily updates. Thank you very much.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
19
TSLA: Low volume/low volatility... What to expect next?Hello traders and investors! Let’s see how Tesla is doing today. It’s been some time since my last analysis, so, let me give you guys some updates. And the link to my previous analysis is below, as usual. First, Tesla is trapped inside what I like to call a Trap Zone , trading above the support at $ 406, but under the resistance at the 21 ema, and the price could breakout to any direction from here. The support at $ 406 is strong, but Tesla is coming from a clear short-term bear trend. We had a Bullish Engulfing candlestick pattern on Friday, which was a good entry point, but the 21 ema is stronger than we expected. If Tesla loses the Engulfing’s low, there will be no clear support levels until it hits the $ 379 again. Let’s see the daily chart for more clues: Tesla is inside a congestion , and here you can see clearly why I said that if it loses the blue line, the next stop would be the $ 379 (previous bottom). T he volatility decreased a lot, and the volume is extremely low as well . In this circumstance, it is normal for a stock to do small candlesticks. The 21 ema is flat, meaning we have no clear trend, and the yellow area down there is a possible buy zone , which we can see better in the weekly chart: By looking at this chart, Tesla doesn’t look so bad, right? The long-term trend is clearly bullish, and it seems it is just retesting again the 21 ema in the weekly chart. The yellow area is a triple support level , made by the purple and pink lines, along with the 21 ema. The low volume is acceptable during pullbacks in a bull trend, according to the Dow Theory , and this doesn’t change the fact that the trend is still bullish. But Tesla must do a reaction with good volume to resume the bullish momentum, otherwise, it’ll just keep trading erratically for some time. If you liked this idea, please, support it ! And remember to follow me to keep in touch with my daily analyses! Have a great day.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
5
Bullish Engulfing on important Support levelHello, traders. The bullish engulfing pattern is a two-candle reversal pattern. The second candle completely ‘engulfs’ the real body of the first one, without regard to the length of the tail shadows. The Bullish Engulfing pattern appears in a downtrend and is a combination of one dark candle followed by a larger hollow candle. On the second day of the pattern, price opens lower than the previous low, yet buying pressure pushes the price up to a higher level than the previous high, culminating in an obvious win for the buyers. Best regards.
Long
by MarketMinds
2
Silver (XAG/USD) Pieces Through Trend Line - Upside AheadHello Fellow Trader! Silver (XAG/USD) Pieces Through Trend Line 4 Hour Time Frame: Strong bullish Engulfing pattern at key Fibonacci level and price. A simple way to find support and resistance in Silver is to plot price intervals of $XX.50 as seen in the labelled examples, and watch and back test price behaviour at these levels for opportunities or clusters with Fibonacci levels or moving averages. Silver has yet to break its All Time High price while Gold has achieved this milestone. Caution: Job numbers in the US were better and expected on Friday, but trade balance figures were poor. How the market interprets the data VS the safe havens in Gold and Silver will be evident in the next week. Key Points: - Price to reclaim 50 EMA - 4 Hour - Bullish Engulfing Pattern - 4 Hour – RSI Range Break - Price holding Fibonacci 78.6% retracement level - Crosses trend line - 1 Hour - RSI range break Key Levels: Support – 26.50, 26.40 Resistance – 50 EMA, 200 EMA, 27.50, 28.50, 29.00 Entry Zone: Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals. Optimal Entry –26.65 Supporting Entry – 26.90 Candle Reversals for entry - 4 Hour Bullish Engulfing - Look for 1 Hour candle reversals for stronger execution The Risk: As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital. IF: Price breaks below 26.40 – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter. Reward / Reward Targets: Optimal Entry 26.65 – Target 1 28.50 = 3.6x Reward to Risk Optimal Entry 26.65 – Target 2 29.90 = 6x Reward to Risk Supporting Entry 26.90– Target 1 28.50 = 2x Reward to Risk Supporting Entry 26.90– Target 2 29.90 = 3.8x Reward to Risk
OANDA:XAGUSDLong
by tradetheday
SPX: Bull or Bear trap? Let's see...Hello traders and investors! Let’s see how SPX is doing in this Multi Time Frame Analysis (MTFA)! This could be a bull or a bear trap, and here are the most important points to keep in mind. We see a Dark Cloud Cover candlestick pattern under the 21 ema in the hourly chart. This is a bearish sign, and today’s rally could be just a short rally to its resistance and start a further drop, especially if SPX loses this red line at 3349, which would trigger a pivot. Today, SPX filled the gap we talked about yesterday (green line at 3399), and it did a Bullish Engulfing at the black line, which is the pre-coronavirus All Time High (ATH). Now, let’s look for more clues at the daily chart: After SPX lost the purple trendline , the trend got weaker, and when this happens, it just look for more supports. In this case, the 21 ema is holding the price very well, but not before SPX retested its support at the first red line (3353). The movement was very technical, and we already discussed it yesterday, in my previous analysis (link below). Today’s candlestick left a huge shadow under its body, which is very interesting. But before we jump to any conclusions, let’s take a quick look at the weekly chart: Here’s the situation: If the hourly chart triggers a pivot by losing the red line at 3349, it would be a bull trap, and SPX can sink to the second red line seen in the daily chart (3280), or even this purple line, in the weekly chart (3232). The pivot point in the hourly chart is the same point of this week’s candlestick low. To sum up, if the 3349 will be lost, we may see a pullback in the weekly chart. On the other hand, in the daily chart we have a good shadow, and SPX is closing above the 21 ema. If it trades again above today’s candlestick high, it would trade again in bullish territory , above the purple trendline, and the sharper pullback will be ruined. I’m not saying it will go up, I’m not sure if it will have the strength. But we could see some erratic movement next. It would be another bear trap. These are the most important points to keep in mind, and if this idea helped you, please, support it! And follow me to keep in touch with my daily analyses! Maybe you’ll find something helpful around here. Stay safe, and have a great weekend.
SP:SPX
by Nathan_The_Finance_Hydra
11
XTZ: These are the most important points to keep in mind!Hello traders and hodlers! Let’s what XTZ is doing today and do a complete Multi Time Frame Analysis (MTFA)! In the hourly chart, Tezos is struggling a lot, as the bears are dominating the crypto. It did lose the purple trendline , which was the first sign the trend was going to get weaker, but now it is doing descending tops and bottoms , a trait of a bear market. Right now, XTZ is doing what it was supposed to do in a bear market: Seeking previous supports . It is very close to the pink line, and the next target would be the blue line around$ 3.21. Beyond this point, there’s the yellow line at $ 3.10. If XTZ closes above the green line, we’ll see some good rection . Let’s see the daily chart: Yes, the situation is bearish for Tezos, as it is still trading under the 21 ema . But the good news is that we have a clear support at the purple trendline, and the red line is another important point. If XTZ closes above this level, it will be a good sign in the daily chart. This is important, because the reaction must start at the hourly chart, by closing above its green line. Then, it might have the strength to close above the red line in the daily chart and do a false breakout from a bearish pivot . All near the support at the trendline. If XTZ is going up, now is the perfect time for a reaction, and we are going to have our answers quickly, in the next few hours/days. Either way, let’s see the weekly chart: Technically, there’s still room for XTZ to drop. It could retest the black line at $ 3.1294, or hit the 21 ema, which is something we don’t see since this bullish engulfing. My opinion: I’m neutral on XTZ, and I’ll only be bullish if we see the reaction mentioned above. I’m skeptical about a further drop to meet its supports at the weekly chart, but I don’t discard this scenario. Therefore, I’m neutral, at least for now. And if this idea helped you, please, support it! And I invite you to follow me to keep in touch with my daily analyses!
COINBASE:XTZUSD
by Nathan_The_Finance_Hydra
14