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Candlestickpattern

#EURGBP buying opportunityHello, traders. Let's examine the EURGBP chart, where the price is currently completing a pullback to the broken short-term bearish trendline after a change in market structure towards the upside. This provides us with an opportunity to position ourselves in alignment with the higher time frame. When you review the Daily timeframe, you'll notice a bullish impulsive move that has occurred. Since reaching the recent high, we've been experiencing a bearish corrective move until yesterday. The price reached a critical support area and formed a bullish engulfing candle, which closed above the high of the previous doji candle. This suggests that the bearish momentum may be coming to an end. Following the formation of the daily bullish engulfing candle, on the 4-hour timeframe, we observed a downward move. The price retraced to approximately 50% of the previous day's candle and approached the 200 EMA. These factors provide significant confluence for considering a buy position from this area. Furthermore, the price is currently testing the daily pivot area. Since the price opened above the pivot and is now testing it from above, this indicates that the price may continue its bullish momentum.
Long
by mohemati
3
Hammer of Trend ChangeThe Hammer and Inverted Hammer candlestick patterns, two powerful tools adept traders employ for reversals. If you appreciate our charts, give us a quick 💜💜 Here’s what you need to know: 1. Understanding the Essence: Hammer: This pattern typically emerges at the culmination of a downtrend, indicating a potential bullish surge. Its small body and extended lower wick signify the bears' struggle to maintain lower prices. Inverted Hammer: Contrarily, this pattern usually appears at the end of an uptrend, foreshadowing a possible bearish move down. Its small body and prolonged upper shadow denote the weakening grip of the bulls. 2. Decoding the Signals: While Hammers don’t provide direct trading signals, they suggest a shift in momentum. Traders often see them as a sign of potential upward movement after a downtrend. Inverted Hammers, appearing after an uptrend, hint at a potential reversal. The failed attempt by the bulls to sustain higher prices signifies a looming bearish sentiment. 3. Crafting Your Strategy: When dealing with Hammers, traders might enter immediately after its formation or wait for confirmation with a bullish candle. Setting a stop-loss just below the recent low and targeting a significant resistance level is a common strategy. For Inverted Hammers, a similar approach can be employed, focusing on prior support-turned-resistance levels. Vigilance and additional technical analysis are crucial for accurate predictions. 4. A Word of Caution: While these patterns are robust, they should never be sole trading indicators. Combining them with other technical tools enhances accuracy and confidence in your trades. 5. Practice and Precision: Prior to real trades, practice these strategies on demo accounts or paper trading. Platforms like TradingView, Vestinda and others like MetaTrader offer a conducive environment for refining your skills. Incorporating Hammer and Inverted Hammer patterns into your trading toolkit empowers you to detect potential trend shifts. Remember, in trading, nuanced insights can translate into significant profits. Happy trading!
Education
by Vestinda
5
Dr copper potential more downside moveHello traders, lets take a look at copper which testing an important resistance area and see what can possibly happen and what are the consequences of possible bearish move in other markets like us equities. first lets talk technical, price overall bearish Daily move in copper formed a standard #head_and_shoulder pattern in form of consolidation in downtrend move and as we know this chart pattern in the middle of a move showing continuation. As it can be seen price formed clear H&S pattern and now forming possible LH at key resistance area below Daily EMA and at the 4H timeframe 200 EMA. more importantly price failed to close above 3.80$ in the past 3 days. Also we know that copper as one of the most important commodities is very sensitive on economic data, and since central banks are in raising interest rate campaign in order to take control inflation this can be interpreted as lower economic growth and as a result les demand for industrial commodities like copper which can bring prices lower. so now obvious chart pattern and a valid downtrend, price testing important resistance area and failed to break above it and more importantly we have fundamental aspect inline with technical analysis which all together gives good odd to find a trigger to short.
CAPITALCOM:COPPERShort
by mohemati
#OIL selling opportunityHi dear traders and colleagues, lets look at oil and see if there is any selling opportunity in this commodity or not. As you can see on the chart we have done a research and find out that any time when stochastic indicator is in overbought in Weekly timeframe and cross below cross below its signal line we have seen a bearish move by the price. Other things that gives us more confluences to take this trade is the fact that price currently is testing resistance area and also close to tentative bearish trendline. from fundamentally perspective also we know although we shortage supply by the side of suppliers especially from Saudi Arabia but the fact that we are close to the end of hiking cycle by the central banks and as a result we can see some damages in economic which cause lower demand for the oil. These are all showing that at least having a bearish correction move in Oil prices is possible and even if price wants to go higher we can have correction from this area.
CAPITALCOM:OIL_CRUDEShort
by mohemati
This is the kind of Trading Setup that I go Aggressive!The Bullish Shark Pattern is yet to be confirmed, but it went lower than PRZ, which is seen as a warning sign for most. However, I see it as an opportunity that I don't want to miss out on. Here are some key points that I wanted to highlight: - The Terminal Bar produced a long shadow that provided Cover Support, which means that the level is not broken. - On the 1-hourly chart, we can see RSI divergence. - There's a sideway bounce setup on the 4-hourly chart, which can be attributed to a combo trade. As you know, I'm a nurtured conservative trader, but once I see an opportunity like this, I turn into an aggressive trader. So, I'm quite excited about this. What's your take on this?
Long
by RaynLim
Awaiting Shorting OpportunityThis week, I have been closely monitoring the movement on GBPUSD. While there are similarities to EURUSD, I am still waiting for an aggressive shorting opportunity. As of now, there is no iconic trading setup available, so I am patiently waiting for a retest at the key resistance level of 1.2368 before making any moves. For more conservative traders, it may be wise to wait for a double top with an RSI divergence as an additional confirmation before engaging in the trade. The initial stop is at 1.2462 (-94 pips) or 940 USD/lot, while the first target is seen at 1.2124 or 2,440 USD/lot. I cannot stress enough the importance of planning your trade and not blindly following anyone else. Keep this in mind when considering your options.
Short
by RaynLim
What is Tweezer Top and Bottom Patterns?Welcome to the world of trading patterns. If you appreciate our charts, give us a quick 💜💜 Today let's explore Tweezer top and bottom patterns, often referred to as simply "tweezers," are powerful candlestick formations that hold the potential to unveil significant shifts in market sentiment. These patterns materialize as twin candles appearing at the culmination of a trend, indicating the impending transition of market dynamics. In this exploration, we'll delve into the intricacies of these patterns, unveiling their secrets for traders seeking to navigate the ever-evolving landscape of financial markets. Tweezer Top: A tweezer top pattern occurs during an uptrend when the price reaches a high point and then experiences a sudden reversal. It is characterized by two consecutive candlesticks with almost identical highs. The pattern suggests that the bulls are losing their grip, and a potential trend reversal or a bearish correction might follow. Traders often interpret the tweezer top as a signal to consider selling or shorting an asset, especially if it appears after a prolonged uptrend. However, it's essential to confirm this pattern with other technical indicators or chart patterns to increase its reliability. Tweezer Bottom: Conversely, a tweezer bottom pattern emerges in a downtrend when the price reaches a low point and then reverses its direction. Similar to the tweezer top, tweezer bottoms consist of two consecutive candlesticks with nearly identical lows. This pattern signifies a potential end to the bearish trend, indicating that the bulls might take control soon. Traders view the tweezer bottom as a signal to consider buying or going long on an asset, particularly if it appears after an extended downtrend. As with any trading pattern, it's crucial to validate the tweezer bottom with other technical tools to confirm the potential trend reversal. Key Considerations: Confirmation is Key: Tweezer patterns, while useful, should always be confirmed by other technical indicators or chart patterns before making trading decisions. Volume Analysis: Analyzing trading volumes during the formation of tweezer patterns can provide additional confirmation of the potential trend reversal. Market Context: Consider the overall market context and fundamental factors influencing the asset to make well-informed trading decisions.
Education
by Vestinda
2
Short NASDAQ once more!I wanted to share my thoughts on the latest shorting opportunity I've spotted on Nasdaq. It appears to be a Bearish Shark Pattern, with some unique differences from the previous ones we've seen. Firstly, there is an additional entry price for the very same Bearish Shark Pattern. This makes it even more appealing to consider shorting. Secondly, the completion of this pattern is happening on the 1hourly chart, which means the movement could be more volatile. In light of this, I have set my initial stop-loss to a further level at 14927.90 as I am aiming for a bigger target. I would love to hear your thoughts on this development. Do you think this is a good opportunity for us to short Nasdaq once more? Please feel free to share your thoughts in the comments section. Follow my only account @raynlim
UShort
by RaynLim
7
A Great Trading OpportunityAs per my analysis, a Fib-3 Bat Pattern is about to complete at 1.8979 on the Daily Chart. To minimize the initial risk, I will wait for a buying opportunity on the H4 or H1 chart. This will significantly reduce the stop-loss to 1.8733 (-246pips) or close to -2,460usd/lot, while the first target will be at 1.9363 (+384pips) or close to 3,840usd/lot. I believe that a good trader follows a good mentor, but a great trader plans his own trade and takes reference from others' analysis. Therefore, I suggest that we proceed with caution and carefully evaluate the market conditions before investing. With a well-planned trade, we can maximize our gains and minimize our risks.
Long
by RaynLim
Trade Both Ways!!Our analysis suggests that there is a sideway bounce trading opportunity, with resistance at 158.49 and support at 156.79. With a difference of 170pips, this provides an incredible profit potential that can lead to close to 1,790usd/lot. We have two sideway bounce trading strategies that we could utilize to maximize our profits. I would love to hear your thoughts on which one you prefer. Both strategies have been carefully crafted and have the potential to yield high returns. Let's take advantage of this opportunity, make a smart investment decision and plan your trade.
by RaynLim
One of my Fave!I wanted to share with you one of my favourite trading strategy, the Sideway bounce. Not only is it easy to execute, but it also delivers some of the most relaxing results. In this particular case, the resistance is at 148.40, and the support is at 147.51, which means they're 89 pips apart. This translates to an approximate profit potential of $890 per lot, both ways. To ensure success with this strategy, it's crucial to make sure the market doesn't violate the two levels. This way, we can maximize returns while minimizing risk. I believe that implementing this trading strategy will be incredibly beneficial to our investment portfolio. You have to make sure, not to overtrade it.
by RaynLim
Aggressive shorting opportunityI am looking at a shorting opportunity on the GBPUSD. Based on the 4-hourly chart, I am waiting for a magic candle to form up at 1.2368 for a shorting opportunity. My initial stop-loss is at 1.2454 (-86pips) or 860usd. At this moment, my projected target is at 1.2234 (+134pips) or 1,340usd/lot. Alternatively, you can wait for candlestick confirmation at 1.2405. The entry price is 37pips later, with the same stop-loss and target profit level. Your initial risk is now (-49pips) or -490usd/lot and target profit is now (+171) or 1,710usd/lot. As you can see from this real-life example, it is better to miss a trade than to engage in a trade you shouldn't have. I believe this investment opportunity has great potential for profit.
Short
by RaynLim
Counter-Trend Trading OpportunityEURUSD is currently experiencing a bearish trend, but for those who are counter-trend traders, there may be an opportunity to buy at the AB=CD pattern completion at 1.0602. It is important to wait for confirmation from a magic candle confirmation before executing this strategy. The initial stop-loss should be set at 1.0562 (-40pips) or -400 USD/lot. Our first target should be set at 1.0668(+66pips) or +660 USD/lot. Before making any trades, it's critical to do your own analysis and follow your trade plan. As always, it's essential to approach investment opportunities with care and caution. But if you're ready to take a calculated risk, this could be an exciting opportunity for you. Happy trading!
Long
by RaynLim
4