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Candlestick Analysis

Mother Line, Trend line and other resistnace up ahead to watch.Before Nifty can fly further there are some important resistances to be crossed in the near by zone are 24368 that is the high of Muhurat day, Mother line resistance at 24391, Trend line resistance near 24400. After closing above 24400, Nifty can quickly reach 24505 or even 24601 in a short time. Supports for Nifty are at 24280, 24239, 24172 and 24142. Final support for Nifty is in the range of 24069 below which bears can create further havoc. Shadow of the candle is slightly positive but FII's deep selling is making the investors vary and fearful this does not include DIIs as of now but below certain level even they can start to give in if things do not improve. Shadow of the candle is slightly positive.
NSE:NIFTY
by Happy_Candles_Investment
1
Where to next with XAUUSD (GOLD) ?FX:XAUUSD Monthly So the big question is where is GOLD going next?! As shown on the Monthly chart GOLD has been extremely bullish throughout 2023/2024. My outlooks is mixed with current PA but mostly LONG GOLD, I can't see any real reason to short XAUUSD especially looking at this Monthly chart as we have dynamic support from the EMA's, strong bullish candles and consistent Higher highs however thorough analysis of the lower time frames is needed before any conclusions are met. Weekly Looking at the Weekly chart and candle close I would expect price to potentially pull back the slightest into structure to continue with its lovely trend of higher lows and higher highs. as demonstrated with arrow. I see this only happening with a breach & close below last weeks support at 2,708.62 along with LH and LL off structure (AOI) which will be shown on other charts. Daily Daily charts begin to decipher potential next moves as we have massive bearish engulfing nearly taking out the 2 before it. As shown Fridays price closed at an AOI which was a very significant level in the past weeks holding as strong resistance then support which took price much higher but as we can see the daily candle spiked through this level but did not close along with 10 EMA close dynamic support however the last daily candle especially closing below this AOI tells me we could definitely take the move lower if there is a bearish 4hr close somewhere around market open. If price goes bearish and breaks both structure levels AOI then I see a deeper retracement into previous structure highs as shown below 4hr + Entry 4hr makes things clearer as explained before I wouldn't be making any moves until either a few 4hr closes at the beginning of market open or a daily close bullish or bearish, this is because we have EMA crossover to the downside and 50 EMA resistance but these can all be breached to the upside based on how gold has been moving and a close above 2,741.50 (4hr or daily) as shown with arrow heading to the upside. the other option is price continues short term bearish based on ema confluence and PA along with structure resistance as shown after bullish pullback which failed and was engulfed. looking to the left price has already gone short from this AOI and if it does but doesn't reverse from the lower grey box AOI it will fall into Previous Structure highs as outlined. Possible entries I favour these in order. ;)
FX:XAUUSD
by MarlyForex1
XRP Scalping-Day trading HIGH RISKHigh Risk BINANCE:XRPUSDT XRP appears likely to respect the daily bullish FVG (Fair Value Gap), and it's rare to see such setups on this asset. Given this unique opportunity, I’ve decided to enter, aiming to close the trade around the Intermediate Term High (ITH). This is a straightforward setup: stop-loss placed at the swing low, as a break there could indicate a move to seek liquidity at lower levels. Target profit is set in the premium zone.
Long
by Jaytradermb
2
Litecoin, and the "Falling Three Methods Candlestick Pattern"On November 27th, 2023 the “Collapse to $30” idea was published (below). The idea was met with some rebuttal, shall we say. The evidence for a collapse in Litecoin price action has only grown in the past few months. A new candle prints on the above 2-month chart in 14 days. If it prints as is, it will be a Gravestone DOJI. Such candlesticks on this timeframe represent significant profit taking and selling pressure. The yellow arrows identify bearish engulfing candles. The last one printed on September 2023, confirming legacy support as resistance. The print was followed by three green candles. Do you recognise them? And the red one that now follows it? This candlestick pattern is called the “Falling Three Methods Candlestick Pattern”. It is a continuation pattern. When three Green candles in-between the bearish engulfing and DOJI are unable to close above the bearish engulfing candle, a significant sell off prints. Overall the pattern is informing you of the inherent weakness in price action. Litecoin bulls, you’ve been warned! Ww
BINANCE:LTCUSD
by without_worries
61
Near-term Bullish DXY Bias Monthly chart for DXY hints a possible distribution zone formation. As there is a bullish candlestick pattern formed at last month, bullish bias seems to be the higher possible trend for now. Weekly Bullish trend channel formation suggest higher upside is likely, however, last bar doji candlestick pattern suggest indecision. Near-term support and resistance at 100.25 and 106.50. Last Friday bullish bar closes back near Monday's opening reinforced near term bullish bias. Looking forward, next week 5 Nov being US presidential elections day will add volatility to the market. So, price may likely to go the next higher order block area.
INDEX:DXYLong
by savvyacademy
AUDCHF SHORTAs outlined in the video i expect this pair to continue short as it has been the last few weeks, toward the end of last week it did pull back quite abit, along with all other AUD pairs so i was just watching it for another entry which it has given. I must say the position is pretty text book and i will have eyes on for the market open and the first few higher timeframe closes to see the sentiment likely continue. Monthly Weekly Daily 4hr & Entry All ideas ill be posting are strictly for journalling purposes, therefore always do your own due diligence but if you like the analysis and breakdown pls leave a thumbs up and comment ;)
Short
by MarlyForex1
GBPNZD LONGMonthly Monthly PA is overall bullish, with last months candle continuation of bullish PA coming off morning star set up. I expect this months candle to continue bullish and likely fill out previous wick. All EMA's are bullish and acting as dynamic support. Weekly Weekly PA has printed quite a large doji candle, Showing some indecision which is expected as GBP across the board did weaken through the middle of last week. However from following this PA since last Monday I would classify this as a healthy weekly pull back for price to go higher. This is demonstrated in strong move higher which broke out of weekly resistance key level (Large grey box AOI) and since staying above, following this bullish push to upside and recent pullback into the AOI price has failed to close below it making this previous resistance level now a level of support along with 50 EMA dynamic Support. Closer look on 2 charts below Weekly chart Daily chart Daily Daily PA is very similar to weekly description. Strong Bullish run up through the month of October up into level of around 2.1555 where we found some resistance for at least 2 trading weeks, this resistance ended with a very strong bullish candle going on to make HH & HL etc. Price found extra support for continuation of Bullish P.A at AOI shown with blue arrow which again turn from Resistance to Support. Also this AOI of interest has proved itself to be significant as pull back into it was also acting as support before broken. I now anticipate price will stay above this AOI bearish LH LL current PA. Price Currently sitting just above all EMA's PA above will be further confluence. 4hr chart for closer look 4hr Currently in trade long anticipating continuation to upside especially anywhere above Areas of Interest and two strong bullish engulfing candles at the bottom of bearish move. FX:GBPNZD
Long
by MarlyForex1
Cosmos (ATOM ) to $2.50But first price action shall move to the 11-12 dollar resistance before the downtrend continues. ** trading opportunity ** On the above weekly chart pice action has confirmed a bear flag breakout. The flagpole measurement forecasts an eventual target of $2.50. Meanwhile a breakout of RSI resistance prints with a weekly bullish engulfing candle. The weeks ahead shall likely print a strong upward move at first until resistance. Is it possible this resistance test at $12 fails to hold? Sure. Is it probable? No. Ww Type: Trade Risk: <=6% Timeframe: Long now this month until resistance Return: 50% or thereabouts
Short
by without_worries
66
The Top 3 Reasons You Should Watch This Forex PairIts been a while since i recommended trading a Forex pair..sorry about that. Besides my nickname is Lubosi Forex For a reason right? Now am going to share with you my market analysis and market strategy for this forex pair CAPITALCOM:GBPAUD So just hang tight and enjoy the ride. Here we go.. - First thing is here, do not short sell this price action - because of the crash you may think the price will drop further. Dont fall for this bearish price action. - Second , notice the candle stick pattern? its a counterattack bullish pattern according to a book I read by Steve Nisson About Japanese Candlestick Charting. The counter attack has a red bar, followed by the green bar which Opens lower than the last close.. Closing lower than the last close. - Third , on the catalyst you will notice that the Bank Of England has forecasted a drop interest rate as decision which is Happening this week. - And finally , Austrialia is forecasting a drop in a balance of trade. Its important to note that When a balance of trade drops from Australia, it shows you the health of that currency of that country Stay tuned to the economic calendar this week to see if these forecasts will happen As stated..Trade safely Remember to rocket boost this content to learn more. Disclaimer: Trading is risky please learn risk management and profit-taking strategies. Because you will lose money whether you like it or not.
Long
by lubosi
The Rocket Booster Strategy Boosted Part 2Trying to find a pattern to trade has been a challenge..and so in this video i show you the rocket booster strategy boosted. - First, you need to make sure you do not trade flat markets.. This is a mistake I have made a lot. - Second, you need to increase the amount of volume you are trading because in the stock market the traffic can get stuck. - Third try your best not to trade low-volume stocks this is also something I was very fond of doing Because I was so good at technical analysis I never understand the power of volume - Lastly, you need to create a combination of trading systems That will help you identify the best swing trading Opportunities In this video we are using the following indicators: 1-Volume 2-Rate Of Change 3-Moving Averages Creating a system with a combination of these indicators should help you build a strong trading system - And trading strategy Watch this video to learn more. - Disclaimer:Trading is risky you will lose money wether you like it or not please learn risk management and profit taking strategies.
NYSE:MALong
by lubosi
EURUSD BaisMy idea is that we are in a bullish trend on the weekly chart. Why? Because we have a clear and understandable order-flow where demand is in control and supply is failing. We also see that we have a demand chain and have established a clear weekly order block, which swept liquidity before it formed. We have just slightly reacted to this order block. (This will be seen on the daily chart) We can also see that we just made a market structure shift (MSS) on the daily timeframe from bearish to bullish. We have just reacted to weekly supply with a daily supply zone inside it. We are now in a pullback phase with strong momentum because we swept liquidity. My thoughts would be to see if demand is holding on the daily chart and supply is failing.
Long
by Topkunde
5
BTC Swing LongPotential for a Strong Bullish Move 📈 BINANCE:BTCUSDT Based on current price action, I believe we may be heading into a significant bullish leg. Here’s why: Bullish Arguments: Previous Month Low (PML) is being disregarded. Previous Month High (PMH) is being disregarded. Previous Week Low (PWL) is being disregarded. Previous Day Low (PDL) is being disregarded. 4H swing high is being ignored. 4H swing low is being disregarded. The only bearish point to note: Previous Week High (PWH) is still respected. Trade Management: Once we hit the first Equal High (EQH) around 68K, I’ll move my Stop Loss to Break Even (BE) and manage the trade towards the final target.
Long
by Jaytradermb
2