Get started

Candlestick analysis

EURUSD DAILY FORECASTThe Euro has been very bullish since March of 2020 making a most recent high at 1.23500 last week. The EURUSD retested that high and got rejected for the second time creating a selloff. On Thursday, we saw a Bearish Engulfing candlestick completely engulf previous days bullish candle. The following day, bears continued the trend where EURUSD opened below the trendline and got rejected after the retest. This confirmed the bearish trend as sellers have control. We could see a further selloff this upcoming week if previous daily supports do not hold Daily Support levels are 1.21937, 1.21250, and 1.20562
Short
by StockSniperTrading
4
GBPUSD DAILY FORECASTThe Pound Sterling this year has been bullish with the decline of the US Dollar. GBPUSD made new highs at 1.37039 and has recently seen selling pressure to 1.35549. The daily chart shows us that GBPUSD has rejection wicks and making lower highs continuing the bearish momentum. Last week, it found some daily support around 1.35300. Friday however, closed with a Bearish Pin Bar candlestick suggesting the Pound may still drop further next week Support levels are 1.34300, 1.33050, and 1.31300
by StockSniperTrading
2
DXY (US DOLLAR INDEX) DAILY FORECASTThe US Dollar Index has been very bearish since March of 2020 when Coronavirus escalated globally and in a bearish downtrend. However, the Daily price action has formed a support level around 89.220 and looks to build some bullish momentum on the past daily candles. On Thursday, bulls managed to break the daily trendline and close above it. The following day, DXY retraced back to the trend and buying continued to confirm the retest. Price closed above previous days high and looks to be changing the bearish trend This week we could see the US Dollar make a move and form an uptrend Resistance points are 90.415, 90.716, 91.006, and 91.229
TVC:DXY
by StockSniperTrading
1
GOLD (XAUUSD) DAILY FORECAST GOLD (XAUUSD) Daily Forecast This past Friday January 8, Gold sold off from $1917 to $1828 as it broke its daily uptrend. Bulls stepped in and bought at $1828 where they managed to close the trading day at $1849.81. The 4 HR candlestick closed with a Piercing Line pattern, which closed around the midpoint of the previous 4 HR bearish candlestick. Look for bullish continuation to resistance points at $1857.50, $1866.13, $1880.15, and $1895.00. On the other hand, Gold will breakdown further if bulls cannot hold $1828.65, look for price to retrace further to the next Daily Support at $1819.46.
SAXO:XAUUSD
by StockSniperTrading
1
GBPAUD H4 LONGS GbpAud has completed its downtrend. Price broke the December 13 low @ 1.74254 and made a new low on 7 Jan @ 1.74126 which now acts as new support. Price has since been getting rejected from the lows and momentum moving price upwards. Price broke key resistance @ 1.75000 and pull backed testing this restance turned support. Market closed with a bullish candle forming in H1 coming from a reversal. H4 candle closed above 1.74900 which will lead to price trading above 1.75000. buy @ 1.74860 - 1.75000 buy stop 1 @ 1.75020 buy stop 2 @ 1.75180 buy stop 3 @ 1.75632 buy stop 4 @ 1.75900 SL @ 1.74600 Tp1 @ 1.75780 Tp2 @ 1.76340 Tp3 @ 1.77271 Tp4 @ 1.77891
Long
by Mas_DMGTrading
CADJPY - Bearish BatThis Bat Pattern is quite a highlight for me. I'm waiting to engage this trade only after Monday 11Jan21 1200hr(+2GMT) which is 6pm Singapore time. The preferred entry price is at 81.94. A lot of people may know harmonic patterns but they aren't aware of the rules and filters that's why the results that they are getting are not optimal. The best part of this Bearish Bat Pattern is that if it works, I may have a target stretch out to the Bullish Gartley Pattern formation on the daily chart. Look at Point C, I'm highlighting it not because of the Bat Pattern completion on the 4-hourly chart, it is more of it violating 1 of the rules of the Gartley Pattern, with that the market may fall through the Gartley Pattern and may even form a Crab Pattern, that would give me a potential target of 533pips that is looking to fulfilled as early as 26Feb2021.
Short
by RaynLim
GBPUSD-Weekly Market Analysis-Jan21,Wk2Retracements are shown in post Brexit for both GBPUSD and EURUSD. On the daily chart, GBPUSD has a brief break and close above the recent high before making it way to its retracement. On the 1-hourly chart, there's an inverted descending triangle formation which could probably break and close below the bat pattern formation. If the market retest the trendline with a long shadow candle, I'll short GBPUSD and observe if the market consolidates at D point on the harmonic pattern.
Short
by RaynLim
EURUSD-Weekly Market Analysis-Jan21,Wk2A perfect scenario for this week trading setup on EURUSD will be a retracement back into the consolidation zone(grey box) and giving us a long shadow candle for us to engage for a shorting opportunity. It will be better if the trade stretch towards the harmonic patterns, in this case the bullish crab pattern that was a perfect buy zone as it is on the support level on both the daily and 4-hourly chart and that puts it as as a trend trading opportunity.
Short
by RaynLim
2
PLUG: Key Points to keep in mind!Hello traders and investors! Let’s analyze PLUG today! I never did a public analysis about it, so, it’ll be my first time here. First, we have a quite strong bull trend in the hourly chart, and we have some key points to keep in mind. The black line is an interesting point, as it was a resistance in the past, and a pivot point , so it is a good support candidate if PLUG corrects. Also, we have the 21 ema pointing up, which is another good sign. We have a classic Breakaway Gap , which was the trigger of this movement. This tells me that the bull trend will persist a little longer, but we can’t discard that it’ll do pullbacks in the future. If you are afraid of a pullback, just look the daily chart: Ok, so we can see the $ 46.95 from here too, but if PLUG loses this point and drops more, we’ll have a strong support area near the purple line region and the 21 ema. If PLUG hit there, I think this would be just an opportunity to buy (or buy more). I know we may have an Evening Doji Star candlestick pattern if it closes this way, but again, if triggered, this would be a pullback sign, not a reversal sign. Another thing to keep in mind is the high volume during this bullish leg, which is another good sign. This bull trend is real, so, pullbacks shouldn’t scare anyone around. If this movement had low volume, then it would be just speculation. Remember to support this analysis if it helped you and follow me to keep in touch with my daily studies. Thank you very much.
NASDAQ:PLUG
by Nathan_The_Finance_Hydra
5
AUDCAD - AB=CD at Demand ZoneWell before you went all crazy about this, this AB=CD isn't your regular harmonic pattern. I have this trading strategy that I said it's an assume but not assume technique. First, we assume the equal distance retracement happens, which lag of better word I use AB=CD. The part that we don't assume is that we can't short it from C as the formation isn't complete. The nice thing about this formation is that it lands on the demand zone within the buy zone. I'll treat it as a support and resistance trade and I've already long the pair with tight stop.
Long
by RaynLim
2
MUST SEE!!!!!! How candle time ranges make a BIG differencethis is a quick chart today. the point of this chart is to illustrate how zooming out even 30min can change your whole perspective on how the market is moving. left side 1h chart right side 1.5hr(90min) chart within the circled range (the breakout) you can see in the 1HR chart 3 red candles vs. the 1.5HR chart has no red candles. NONE! if your waiting for your candles to close before you freak out on a dip then on a 1.5hr chart you would have never seen a reason to close a long. if red candles scare you out of trades. always zoom out on the charts instead of freaking out and being impulsive. tip of the day...never trade based off candles smaller than 1HR. ***im not a professional ....i do this cuz i like to help other make money too!****
BITSTAMP:BTCUSDEducation
by ELM_Trading_NYC
2
Pro Candlestick Analysis Method! MUST KNOW FOR SUCCESS!!!Pro Backtest Method: STUDY CANDLESTICK BEHAVIOUR - You should know what type of candle your ideal entries are taken based on momentum/rejection. - To help with in the moment decision making before entry and avoiding impulse entries try this; 1. Open Chart During your preferred session and timeframe. Look to see if market conditions are similar to your strategies ideal conditions e.g. Creating a LH and rejecting the level. 2. Watch how those Candles unfold and record their behaviour and how they are shaped at specific times through out. e.g. 30m candle, record its shape at 10min, 20min, 25min and the final 5mins 3. When Candle closes, record the outcome and take a note as to whether this candle is the sort of candle you would enter based upon. Repeat this everyday or whenever the conditions are right. 4. You will soon start to see patterns which lead to specific candlestick close outcomes, then you can confidently determine this in real time and avoid entering on an impulse.
Education
by adamhylandnew1
5
SPX'S Weekly Japanese candlestick signals since inception 1957 Hey Traders , what's up. From me to Humanity . I know that there is allot of data, i hate that as every one else does. But, if you want to keep it simple just study, analyze and write down the Red & Green boxes they should sum up most of the study. I have included all the data here . So feel free to redo, redistribute, reuse or shar it here or outside of tradingview with anyone even with out mentioning the source. from me to humanity whom are trading SPX : - ). Moreover, If anything that this data is telling us in a very short English terms "Do not chase tops on weekly candles !!! " . Also, some weekly candles could be treated as extinct data suggesting that !!! what's up with that!!! no Golden rule for these candles. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1/ Bullish weekly candles :- Weekly Bullish Happened success rate Max profit Max cost Risk/reward starting date. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+ ***Engulfing 28 60% 50% 43% D 1953 ***Hammer 21 77% 102% 4.55% C+ 1952 ***Inverted Hammer 11 45% 8% 4% F 1953 ***Marubozu White 65 84% 40% 33% B - 1982 ***Long Lower Shadow 78 70% 68% 40% C- 1963 ***Rising Window 26 85% 165% 5% B 1971 ***Spining Top White 59 61% 40 % 31% F 1979 ***Dragonfly Doji 8 37% 4% 9 F 1951 ***Upside Tasuki Gap 6 40% comes and goes !!! ***Tweezer Bottom 11 43% Disappeared since 2007 ***Doji Star 3 33% Disappeared since 1982 !!!! ***Dragon Doji 2 50% -------------------------------------------------------- Spining Top White 59 times : since 1979 --------------------------------------------------- Profit Lost z 4 11 z 2 4 z 13 3 z 3 31 4 17 7 z 31 3 5 21 2 2 4 z 4 2 1 z 2 2 z 1 z 5 7 14 7 11 z 10 18 21 1 z 2 3 z 7 7 3 z 4 z 3 1 z 2 z 5 2 34 9 5 z 4 25 z 2 13 z 3 15 z 7 z 4 z 18 40 z 4 12 -------------------------------------- Dragonfly Doji 8 times : since 1951 -------------------------------------------- profit lost z 2.55 4.85 z 2.42 z 9.09 z 1.60 4.89 3.50 z 3.37 ------------------------------ 37% success rate ------------------------------------------- Hammer 21 times : since 1952 --------------------------------------------------------- Profit lost 8.46 4.39 8 z 6.46 8 6 66 70 4 4 4 z 1.86 z 4.55 3.27 z 9.02 4.83 3.04 102 2.59 z .91 10.99 ------------------------------------ success rate 77% -------------------------------------------- Inverted Hammer 11 times : since 1953 ------------------------------------------------------------ Profit lost 4.56 z 7.95 z 2.97 z 4.43 z 4.72 z 2.54 z 6 8.14 3.27 1.69 1.90 ----------------------------------------------------------- success rate 45% -------------------------------------------------------------- Marubozu White 65 times : since 195 ---------------------------------------------------- Profit Lost zero 33.98 zero 14.86 zer 11.91 4.56 9.75 2.16 6.25 2.06 z 14.92 8.55 4.76 1.81 19.11 5.60 1 2.55 7 z 8.88 1.61 2.84 12.43 2.64 5.44 4.77 12.32 1.81 1.25 1.93 31.87 z 30.37 3.87 12.84 4.49 z 7.68 2.13 5.79 26.66 4.31 17.15 z 6.44 2.39 33.20 9.71 11.63 7.47 15.27 3 4.75 4.66 17.26 z 6.63 z 4 1.59 3.58 8.66 3.56 5.71 5 30.40 1 2.76 8.27 7.64 8.84 40.67 50s million signal -------------------------------------------------- 84 % success rate ---------------------------------------------------------- Long Lower shadow 78 times : Since 1966 --------------------------------------------------- profit lost 32 8 18 10 11 13 z 3.99 16.11 z 16 z 4 z 3 2.79 z 1.85 15 3 6 2 3 z 10 z 5 14 4 z 5 10 6 z 40 6 2 24 z 1 z 1 2 z 6 z 7 6 13 z 21 z 34 5 z 4 z 9 12 5 15 33 13 4 2 2 4 6 16 z 12 z 34 18 2 13 3 3 z 5 6 65 27 4 26 z 26 9 7 13 4 20 z 11 z 4 2 z 3 25 22 21 ---------------------------- success rate 70% ------------------------------------------------------------ Rising Window 26 times; since 1971 --------------------------------------------------------- Profit Lost 5 2 7 5 2 1 3 z 3 12 2 4 1 1 10 1 z 3 1 19 4 165 z 5 z 1 80 3 21 4 --------------------------------- success rate 85% ------------------------------------- Engulfing 28 times : since 1953 ----------------------------------------------------- profit lost 33 z 6.76 z 19.4 z 23.69 12.18 z z 43.96 5.29 6.12 50.13 4 z 7 21.47 1 1 z 5.44 z 3.29 4.94 z 34.05 6.15 5.15 z 23.41 7.19 21.27 19.57 z 17.18 3.82 2.12 z 9.66 ---------------------- 60 % success rate -------------------------------------------------------------- 2/ Bearish weekly candles : - weekly Bearish Happened success rate Max Profit Max opportunity cost Risk/Reward starting date ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ***Engulfing 67 68 % 55% 28% D+ 1956 *** Hanging Man 30 50% 7% 28% F 1957 ***Shooting Star 23 47% 19% 63% F 1950s ***Long Upper Shadow 58 36% 46 % 95% F 1957 *** Doji Star 11 37% 13% 27% F 1952 ***Dark Cloud Cover 13 77% 55% 11% C + 1955 ****Tweezer Top 34 44% 18% 31% F 1954 *** Marubozu Blace 46 58 % 39% 48% F 1956 ***Spining Top 77 35% 48% 35% F 1963 ***Falling Window 23 47% 25% 78 % F 1953 ***Harami 4 times 75 success rate. ***Downside Tasuki Gap Extinct 1957. ****Evening star once in 70 Years. ***Gravestone Doji once in 60 years. *********************************************************************************************************** Long Upper Shadow 58 times : 1957 ----------------------------------------------------------- Profit lost z 32.84 z 10.14 z 3.79 4.40 z 14.79 2.4211 33.02 5.88 z 25.74 8.74 z 7.02 z 8.71 z 5.13 z 2.36 z 14.33 z 9.58 1.76 z 6.25 z 12.99 11.97 z z 8.74 z 1.78 z 14.58 3.74 3.74 z 5.72 z 95.94 3.98 3.80 z 3.52 1.92 4.54 z 4.29 9.49 z 4.23 z 22.70 z 4.51 z 12.29 7.95 z z 10.31 z 32.59 z 53.98 3.48 z z 10.72 z 3.88 z 6.80 46.87 z 3.28 z 8.86 5.28 z 4.45 z 2.60 z 26.37 4.7 z 3.22 19.47 z z 7.87 --------------------------------------------- 37 % success rate Marubozu Black 46 times : since 1956. ---------------------------------------------- Profit lost 10.81 z z 13.69 8.23 5.82 z 3.44 z 3.59 z 6.52 z 48 z 22.48 5.66 22.20 39.28 5.51 z 33 11.31 28.61 z 14.55 z 24.54 z 7.86 5.37 z 10.48 z 4.04 z 28.83 2.65 3.95 3.58 1.43 1.55 z 3.03 z 11.45 1.30 3.83 z 6.12 2.33 2.02 1.11 2.00 8 1.95 3.19 .077 z 8.58 z 15.88 4.37 8.36 z 4.20 -------------------------------------------------- 58 % success rate. ------------------------------------------------------ Doji Star Bearish 11 times : since 1952 ----------------------------------------------- profite lost zero 4.99 z 4.79 z 4.98 3.17 z 14.94 5.12 13.33 z 3.20 z 27.14 14.33 z 4.72 -------------------------------------- success rate 37 % ---------------------------- Spinning Top Black 77 times : since 1963. ----------------------------------------- profit lost 7.17 z 4.46 z 1.69 z 8.07 z 7.06 z 30.32 z 13.68 z 3.32 9.79 z 4.66 19.39 z 15.47 z 14.17 z 3.94 z 2.65 z 3.7 z 2.82 z z 4.14 1.75 6.49 z 10.14 2.78 3.27 7.81 2.45 z 3.29 22.29 z 26 z 30.35 z 34.07 z 2.86 z 17.74 z 30.71 z 19.36 z 35.35 z 2.33 11.65 z 4.74 3.34 z 15.59 2.79 z 4 z 5.17 z 24.81 z 2.27 7.74 z 4.34 6.97 z 9.32 z 20.40 z 2.59 z 5.50 z 14.24 9.92 11.17 13.33 z 8.9 13.55 48.82 z 3.07 4.91 9.70 z 27.97 36.37 z 5 2.90 z 2.54 z 20.69 z 9.08 z 7.76 z 2.07 z 5.37 z 2.34 4.08 3.81 ------------------------------------ 35 % success rate ----------------------------------------------------------------------------------------------------------------- Dark Cloud Cover 13 times: since 1955? ****************************************************** profit lost 6.10 19.62 7.60 55.83 4.7 2.22 5.63 zero 9.24 zero 8.19 3.19 zero 11.98 2.12 13.54 ------------ 77% success ------------------------------------------------------------------------------------------------------------ Tweezer Top 34 times : since 1954 -------------------------------------------- profit lost z 25.15 z 31.33 z 3.10 z 3.58 z 14.29 z 10.19 10.66 1.56 z 3.38 z 10.31 5.57 1.70 z 4.57 z 5.54 z 37.93 3.61 z 77.84 z 2.12 5.37 3.60 2.22 2.69 2.85 18.56 z 25.53 z 9.25 z 4.82 3.78 3.30 z 2.39 5.23 5.81 z 11.94 z 27.41 --------------------------- 44% success rate ******************************************************************************************** Engulfing 67 times : since 1956 Big problem is that small dips then big bull markets, need re examination. ------------------------------------- profit lost 4.94 z z 4.11 .84 z z 11 2 .41 z 30.21 2.65 z 4.31 55.15 z z 6.43 2.30 1.89 1.84 8.08 6.54 z 9.15 9.38 4.31 3.10 z 17.16 7.84 z 6.21 z 14.37 z 3.06 z 2.02 2.94 3.34 z 4.07 2.09 2.17 1.97 2.45 z 9.94 z 19.18 1.89 1.09 4.45 2.97 6.61 z 4.18 1.93 3.18 z 5.45 5.57 1.90 z 4.09 11.97 z 6.69 z 15.62 46.26 3.52 4.65 8.64 6.36 34.58 8.94 6.16 20.64 9.04 z 4.23 2.64 28.67 2.81 7.90 z 28.15 19.76 --------------------------------------------- success rate 68 % ------------------------------------------------------------------------------------------------- Shooting Star 23 times : Since 195! --------------------------------------- profit lost zero 7.02 2.25 9.92 z 2.36 z 4.14 z 9.18 z 6.99 2.68 z 7.77 z 63.24 z 3.52 4.45 z z 4.81 7.36 z 4.48 z 1.61 z 7.06 3.11 z 2.56 z 26.56 19.68 11.34 2.40 ---------------------------- 47 success rate ------------------------------------------------------------------------- Falling Window 23 times : since 1953 come together, or during falling markets. --------------------------------------------------- Profit Lost 18.97 5.65 z 78 25.85 z z 60 17.63 6.92 2.83 z 3.39 z 6.12 z 6.66 z 4.63 z 1.66 z 46 1.74 z 7.55 4.80 12.43 5.01 1.62 z 116 z 2.81 z 4.47 ------------------- 47 % success rate ------------------------------------------------------------- Hanging Man 30 times : since 1957 1/ 50s was the play ground for this candle !!! 2/ sam old sam small dip then boom !!! 1996 it is a a hammer !!!not a Hang.Man --------------------------------------------------- Profit lost z 2.64 4.11 z 1.71 z 6.84 2.23 z 8.80 4.21 7.63 3.02 z 7.84 z 28.59 z 4.46 z 5.15 z 6.84 z 16.68 6.28 z 1.87 2.28 z .87 !!!!crash z 5.63 3.29 2.30 6.91 z 6.38 z 2.27 3.74 z 7.60 2.02 1.50 1.12 --------------------------------------------------- 50 % success rate
SP:SPX
by samitrading
6
USDJPY-Weekly Market Analysis-Jan21,Wk1Well, I've told you there's no need to panic for crab pattern, it usually has a retest of previous low before it took off. The structure of this trading setup is also known as a sideway consolidation, although the highs(resistance) and lows(support) are not too far apart(which will affect our income potential), it is still good for meal money. Well, in the short to medium term, the money is in the buying(long). If you are patient can wait for a retest back to previous low where my blue arrow sits to buy it, and if you are aggressive and like to get involved, you may consider shorting as long as the candle didn't break and close above the yellow channel when the market opens.
Long
by RaynLim