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Bullish Engulfing

RCM forms Bullish Engulfing at Lower BoundaryAn Intraday setup to go long RCM has been in an upward rising channel and price has tried to break down the lower boundary. However, the last session showed there are still buyers at this level and the session ended with a bullish engulfing pattern. I am expecting some bullishness in the short term in the new session. This bullishness could be for short term or medium term. The whole rising channel is part of a big correction and the opportunities only arise within this channel.
RLong
by mohamed.tharwat.elsherief
What's WRONG with XTZ?Hello everyone! The bulls are here, yes, but you guys know that I’m out of XTZ and I’ll not buy it any time soon. Some people asked me why I'm not attracted by XTZ the same way as to some other cryptos right now, and the answer is simple. I only wish XTZ hit the trendline and went closer to that red line, or better saying, I wished for a little stronger pullback. Just it, there's nothing wrong with XTZ. :) But that’s good news for those who are already long here, because the bulls are so strong that they didn't even give a chance to someone who’s out to jump in the trade. On the other hand, other cryptos just made a bullish engulf near their supports, and that’s why I’m looking at them right now. XTZ did a harami near the 21 ema yesterday, which is also good, but bullish engulf are stronger, and since I’m out I’m choosing other cryptos right now. But I wish all the luck to those who are in XTZ! Also, it's important for you guys to note the hourly chart: The price is above that black line, which is a real war zone, and the only thing XTZ should do now is to close above that green line, which is the 61.8% fib retracement in the weekly chart! Look here: So, that will be the final challenge for XTZ right now. After that you can find a “resistance zone” in the daily chart, and lastly, the U $ 3,944, the previous top. My best regards to you guys and stay safe! Remember to follow me, I'm a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
KRAKEN:XTZUSD
by Nathan_The_Finance_Hydra
2
XRP - Bulls on Parade?Ok, XRP is behaving properly, it did a bullish engulf above the “triple support” , which is amazing, and now everything is going according to the plans. That bullish engulf was triggered today, but to help with our decisions, I think it is important to keep the hourly chart in mind: Similarly to LTC, there’s a important price zone (in this case, the blue line) to be surpassed, and if the bulls manage to keep the price above this zone, we can start a long position with more conviction. Also, you could’ve bought half of your original position after the breakout of the bullish engulf in the daily chart and wait for a close above that blue line in the hourly chart to complete your position. Your call, we traders must do what makes us psychologically comfortable with the situation. Now, let’s look at the weekly chart: The bulls are strong here too, as they are keeping the price above the 21 ema and the fib retracement. If everything goes right we can see XRP at the 61.8% fib retracement in the future. Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
BITSTAMP:XRPUSD
by Nathan_The_Finance_Hydra
LTC - I'm about to BUY MORE!As you guys already know, I’m seriously thinking in buying more LTC and I’m still holding a long position since Apr 22, when we bought it for the first time. If you missed this trade, I’ll put the links about it bellow, and follow me to keep updated, here you’ll find daily analyses about cryptos and other assets I’m trading. Technically I could’ve already bought more LTC today, but as I said in my previous analysis (also, link bellow) I’m waiting for an important sign in the hourly chart. Let’s look it again: I’m waiting for a close above that black line. It’s an important price zone to surpass, and if the bulls manage to keep the price up will be an amazing sign. Although in the daily chart we see a bullish engulf, which was triggered today, I’m just waiting this sign here. Now, the weekly chart: I’ll maintain what I said in my last analysis here. Yes, there’re two resistances here, the 21 ema and the fib retracement, but if the bulls keep going giving us good signs in the daily/hourly basis, it’s easy to imagine LTC near the 61.8 fib retracement. Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
COINBASE:LTCUSD
by Nathan_The_Finance_Hydra
2
ETH - May the BULLS be with us!Okay, so ETH did a classical bullish sign to us, a bullish engulf near a strong support area, made of 1 - the 21 ema; 2 - the purple trendline; and 3 - near the black line (previous top). Our last trade here was a very good one, we long at that “Harami cross” in the chart all the way to the 61.8% fib retracement, the links about this trade are all bellow. Also, I invite you to follow me to keep in touch with our trades and analyzes. Now let’s see the hourly chart: Here we find a reading similar to the daily chart, and I’ll stress how important will be for the bulls if they manage to keep the price above that blue line, which is the fib retracement. There’re some supports here, like the green line, the pink line, the black line, and finally, the purple trendline. Now, the weekly chart: As I’ve been saying, yes it bugs me a little that the price is near a fib retracement, but we can’t discard a “V” pattern here. The bulls seems to be very strong, and the trend will continue until a clear reversal sign occur (as Charles Dow used to say). Meanwhile, we are long here. Remember to follow me, I'm a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
COINBASE:ETHUSD
by Nathan_The_Finance_Hydra
XRP - About to PULL the TRIGGER.Ok, so the price found a support in the 21 ema and the purple trendline, which is great for the bulls, and now it seems it is doing a bullish engulf, like some other cryptos are doing. Let’s see if this pattern will be triggered tomorrow, if so, it’s a long, the target could be the pink trendline or the 61.8% fib retracement. Let’s look the hourly chart for more information: It would be very good if the price close above that blue line, but I don’t know if that’s going to happen. Now let’s see the weekly chart: It’s near the 21 ema, which could be a resistance too, but I find this volume increase very interesting. I wonder what caused that sudden raise. Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
BITSTAMP:XRPUSD
by Nathan_The_Finance_Hydra
3
Are the BULLS going to SHOW UP? (again)Hello guys! Now ETH is starting to get interesting again. Its been a few days since ETH entered on the “Sleep Mode”, which is normal after the last bullish move it did. We managed to catch that last move , we were long from U$ 175 to the 61.8% fib retracement, our main target. If you missed, I’ll post the links of my previous analysis below, and remember to follow me to keep updated of our trades. For now, what I can say is that ETH may do a Bullish Engulf , after it touched the purple trendline, near the 21 ema. A bullish sign, that would be even better if the price closed above the U$ 214 today or tomorrow. It’s important to surpass that fib retracement. Now, we calmly wait for the pattern to confirm. You can buy today, in the last minutes of the candle (if in fact, is a Bullish Engulf), or you can wait for even more confirmation, and buy if tomorrow the price will go higher than today’s high. Personally, I like to wait for the confirmation in the next day. We can look at the hourly chart to see if there’s more: If I was a day trader that Piercing Line would've done my day. It went to the “support zone” and close above the black line, which is an important support here. Also, here we can see how important is for ETH to close above blue line (61.8% fib), because it would be the start of a bullish trend in the hourly chart too. Now, let’s look at the weekly chart: I confess that the fact we are near a fib retracement still bugs me a little, but I’ll do my best to follow the trend. Maybe we will see a V pattern in the weekly chart, I don’t know. Either way, the cards are given. Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
COINBASE:ETHUSD
by Nathan_The_Finance_Hydra
5
TCEHY - A view of an old school trader.As another request, I’ll do an analysis of TCEHY today. Well, we can say that Tencent is doing what was expected to do, after it hit the “resistance zone” is now dropping and it seems it find a bottom at the light blue line in the chart, which is the previous top zone. TCEHY is doing some very precise and technical moves here, and now it did a bullish pattern, a downside tasuki gap, maybe? Or bullish engulf? Don’t know, and don’t matter really. Just be aware, because if it loses this light blue line the stock may face some trouble. Let’s see the hourly chart for some clues: The price lost an upward trendline (blue line), and it’s in a support zone, as it is in the daily chart. The rule here is the same, if it loses that blue line, expect it will seek for the lowers supports. Look at the daily chart again, these supports may be the thin pink line or even that thick red line. Personally, I think there’re more interesting stuff to trade right now, but if you want to buy Tencent, you can, but be aware of the low volume today and most important, the “resistance zone”. Trade well my friends and be safe. Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
OTC:TCEHY
by Nathan_The_Finance_Hydra
Water is 2020's winner so farThe 3 leaders YTD have been (in order): Utilities, Healthcare, Staples; which happen to be the 3 most defensive sectors, who tend to outperform during a recession... Inside the utilities sector, the Water industry is the leader. CWCO has a beautiful looking chart, setting a strong support after making a double-bottom, which immediately after, made a bullish engulfing candle. It is interesting to note, that the volume on this 2-day event; was almost identical. Meaning the amount of buyers was larger than the seller side.
NASDAQ:CWCOLong
by dorfmanmaster
1