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Candlestickpattern

#GBCAD selling opportunityHello, everyone. I hope you're all having a great start to the week. Let's analyze the GBPCAD chart and explore a potential selling opportunity in this pair. However, please keep in mind that since we've also posted another idea for EURCAD, it's advisable not to take both of these ideas simultaneously, as it could increase your risk and disrupt your money management. The price is currently situated at a Daily Clean break area, which serves as a supply zone in the daily timeframe. Additionally, the price has reached the 61.8% Fibonacci retracement level and appears to be forming a rising wedge pattern. Moreover, in less than 10 minutes, a bearish hammer candlestick formation will likely occur in the 4-hour timeframe, further supporting the potential for this trading zone. It's essential to note that in the forex market, there are times when the price presents clear patterns. However, it often initially moves against the pattern to trigger traders who trade in the direction of those patterns and then reverses in the direction of the pattern. I believe that the bullish breakout from the wedge pattern is a false breakout, and the price will eventually return inside the pattern. For entering a position, you can either trade based on the 4-hour bearish hammer candlestick formation or wait for the price to return inside the wedge pattern. In any case, your stop-loss should be placed above the high formed in this candle. Wishing you all the best.
Short
by mohemati
2
#CHFJPY Buying opportunityHello, everyone. I hope you are all doing well. Let's dive into the CHFJPY chart and explore a potential buying opportunity in this pair. As depicted in the chart, the price initially formed a bullish impulsive move, but it has since been undergoing a corrective descent for the past three days. Today, it appears that the price has cleared out liquidity from the low created yesterday and established a bullish engulfing candle. Additionally, the price is currently situated at a static support area and is backed by support from the 61.8% Fibonacci level. Given the price's current position at this significant level and considering the favorable risk-to-reward ratio, we are opting to open a position at this price. However, for a more conservative approach, you can choose to wait for the price to break above a short-term bearish trendline that has been constraining the price during this corrective descent.
Long
by mohemati
7
Potential Bearish Setup on Weekly ChartThe Bearish Fib-3 Bat formation on the Weekly chart certainly catches the eye, particularly with the presence of a long-shadow candle. However, it's important to acknowledge that the trading setup remains unconfirmed. Waiting for confirmation may entail missing out on potential profits, to the tune of 200 pips. Here are some strategic considerations: Option 1: Shorting Opportunity from Lower Timeframes One approach is to anticipate a shorting opportunity on lower timeframes, thus potentially capitalizing on a downside move without waiting for full confirmation. Option 2: Trading Within the Range (1-hourly Chart) Both sellers and buyers find opportunities within the 2 zone. This entails engaging with the Resistance at 150.49 and the Support level at 149.00. The pivotal question arises: What's your trade plan? Your insights matter. Please share your perspective below!
Short
by RaynLim
Potential Short-Term Bullish MomentumThe GBPUSD is currently exhibiting a Weaker Bullish Trend on the Weekly Chart. Upon closer examination of the Daily Chart, it appears that the completion of the Bullish Shark setup may have eluded us. The current resistance level holds pivotal importance. A close above it would prompt traders to await a buying opportunity. Conversely, if the market respects this resistance, the formation of a double top might signal a shorting opportunity. For those inclined towards a shorting stance, my focus lies on the formation of a double top pattern at the Bearish Crab Pattern, projected at 1.2441 on the 1-hourly chart. I'm curious about your perspective. What's your take on the GBPUSD? Please share your insights below!
Short
by RaynLim
Think You Know Candlestick Patterns?Welcome to the world of candlestick patterns! 💜If you appreciate our charts, give us a quick 💜 Doji candlesticks, with their equal or nearly equal open and close, offer crucial insights into market indecision. Understanding these formations is key to anticipating potential reversals and trade decisions. Let’s delve deeper into their significance and how to incorporate them effectively into your trading strategy. Understanding Doji: A Doji occurs when opening and closing prices are almost identical, signaling market indecision. Neutral Nature: Doji are neutral signals, highlighting the tug-of-war between buyers and sellers. Psychological Insight: Forming amid market uncertainty, Doji reflect hesitancy and potential trend shifts. 4 Types of Doji and Their Meanings: Dragonfly Doji: Description: Open and close near the high of the day. Interpretation: Sellers drive prices down, but buyers regain control. Action: Explore long positions with support from trend analysis and resistance levels. Gravestone Doji: Description: Open and close occur near the low of the day. Interpretation: Buyers initially push prices up, but sellers regain control. Action: Consider short positions if confirmed by trend analysis and support/resistance levels. Traditional Doji: Description: Open and close are almost identical. Interpretation: Strong market indecision; trend reversal potential. Action: Confirm with trend analysis; consider reversal or continuation trades accordingly. Long-Legged Doji: Description: Significantly long upper and lower shadows. Interpretation: Represents high indecision; neither buyers nor sellers dominate. Action: Await confirmation from other indicators for trade decisions. Incorporating Doji Into Your Strategy: Combining with Support/Resistance: Doji at key support/resistance levels enhance their significance. Use them to validate potential reversal points. Utilizing Trend Analysis: Doji are potent when aligned with prevailing trends. In an uptrend, Doji signal potential reversals, while in downtrends, they may indicate trend exhaustion. Implementing Fibonacci Levels: Combine Doji with Fibonacci retracement levels for robust entry/exit points. A Doji at a Fibonacci level strengthens the reversal signal. Risk Management: Define stop-loss and take-profit levels logically. Doji, while insightful, don’t guarantee outcomes. Protect your investments with sound risk management. Remember, successful trading is a blend of strategy, discipline, and adaptability. Doji candlesticks, as valuable tools, provide glimpses into market psychology. When integrated wisely, they can bolster your trading decisions, enhancing your overall effectiveness in the dynamic world of trading.
Education
by Vestinda
BITCOIN can rally to $170K if it repeats 2018-21 historyHere we looked back at the bars pattern from 2018 to the beginning of 2021 and replicated it at April 2022 (the BLUE pattern). We can see a clear similarity in the bars' pattern from April 2022 to January 2023 which makes us believe that the price will repeat history. We are presently in a Concentration Zone where the price is predicted to BREAKOUT bearish at the start of February 2023 and rally as low as 8.5k. The price would then come back bullish and rally as high as 170k and hit new ATH. Bitcoin looks bullish in the long run !!! Let me know if you agree! This is an analysis. Not financial advice.
BITSTAMP:BTCUSDLong
by YanakTrading
#DXY more bullish outlookHello, everyone. I hope you're all having a great week. Let's analyze the DXY chart and try to make some predictions for the upcoming week. Last week, the price was rejected from the important low indicated on the chart and also established a new 4-hour high, as evident in the chart. Consequently, the market structure in the 4-hour time frame is now in alignment with the higher time frame, daily market structure, and they both exhibit a bullish trend. Given this scenario, our primary interest lies in taking long positions in high-probability trading zones. These zones could be around the short-term low marked with an arrow or during a pullback to the broken short-term bearish trendline. In the meantime, as we await the price to reach these levels, we will closely monitor the market. Once the price approaches these areas, we will be looking for confirmation signals before considering our trades.
TVC:DXYLong
by mohemati
2
AUDUSD - Candlestick Analysis Not my favorite opportunity of the week but one that could be sneaky good because of the associated risk to reward ratio. The AUDUSD has been bouncing back and fourth in a period of consolidation for a while now with the most recent move being a retracement into a high volume level. We end last week with a very positive candlestick combination for the bears offering a potential short opportunity on the open. If you have any questions or comments about the idea, or if you just want to share your own views, please leave it in the comment section below. Akil
Short
by Akil_Stokes
MSTR Evening Star Poses Whipsaw Risk"Evening stars" are not as reliable as they used to be. They occur after heavy speculation and a steep angle of ascent. A few days ahead of earnings, NASDAQ:MSTR could not break through the resistance above. The Gap up was HFT driven. This stock has a lot of retail interest at the moment, with every eye on AI. But the selloff from last quarter's reporting season is creating resistance on the daily scales. It is a very pricey stock for this market condition and the emotional state of most investors. MSTR is likely to gap on earnings news as there are leaks out that it is going to be a blockbuster earnings report.
NASDAQ:MSTR
by MarthaStokesCMT-TechniTrader
(XAUUSD) Short Sell Gold After nearly hitting the low for the year, price made a bearish reversal and gapped up from the 1835 area. In October it peaked at the ceiling level and is most likely to decrease until December then after. *I am not a financial advisor, and the information provided here is for informational purposes only. Any financial decisions you make should be based on your individual financial situation and goals. It is important to consult with a qualified financial advisor or professional who can provide you with personalized advice tailored to your specific circumstances. Additionally, please be aware that financial laws and regulations may change over time, so always ensure you are up to date with the latest information and consult with a professional before making any significant financial decisions.*
FXOPEN:XAUUSDShort
by JoeCrypto313
3
#OIL buying opportunityConsidering the recent bullish momentum in the oil market, characterized by a clear market structure of establishing higher highs and higher lows while respecting to a short-term bullish channel, we anticipate that oil prices will rise from their current low, as depicted on the chart. In addition to the bullish channel, there are other bullish indicators on the chart. Notably, the 1-hour 200EMA (Exponential Moving Average) has consistently provided strong support during this recent bullish phase. Every time the price has approached this EMA, it has turned upwards. Furthermore, the current price level is situated within a 4-hour demand area, which further enhances the possibility of a bullish movement. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
CAPITALCOM:OIL_CRUDELong
by mohemati
1
#AUDNZD selling opportunity Hello, dear traders and colleagues. I wish you all a successful trading week. Let's examine the AUDNZD chart to identify a potential selling opportunity. As you can observe, the price is currently testing the upper boundary of a bearish channel, which has been acting as a resistance following an extended rally. Recent price movements in the past two days show signs of exhaustion, further increasing the likelihood of a bearish move. Additionally, by examining the daily candlestick, you'll notice that we've experienced upside rejections in the last two days, indicating the presence of selling pressure. To initiate a sell position on this pair, we would prefer to witness another upward movement, aimed at clearing liquidity from above the horizontal arrow we've marked on the chart. Subsequently, we'll look for a break below the short-term bullish trendline that has kept the price elevated during the recent bullish movement.
Short
by mohemati
7
#GBPCAD selling opportunityHello, traders and friends. Let's analyze the GBPCAD chart, where we believe there might be a compelling selling opportunity. In the Daily timeframe, you can see that the price has already broken the market structure to the downside. Since the low formed on September 28th, we've been in what we believe is a bullish corrective phase. Consequently, we are now interested in a selling position. Switching to the 4-hour timeframe, we notice a double top formation that resulted in a lower low, indicating the possibility of bearish continuation, aligning with our higher time frame daily trend. Following this, the price has been moving upwards in a bullish corrective manner, forming a short-term rising channel. Last week, this channel also broke to the downside. In our view, this recent bullish movement resembles a liquidity-taking activity, and we are keen to observe any rejections from the level marked by the arrow on the chart, with the intent to consider selling. Additionally, we have identified several resistance factors within a small zone, including the 4-hour and daily timeframe 200EMA, a supply area in the 4-hour timeframe, and the previous high where many traders have placed their stop-loss orders just above it. This presents an opportunity for banks to potentially extract liquidity. If you have found this analysis helpful, please take a moment to leave a like and a comment or share your idea with me.
Short
by mohemati
5
#Nikkei buying opportunitHello, traders and friends. I hope you all doing well. Let's delve into NIKKEI chart and explore why we believe there may be a potential Buying opportunity. The three-wave bearish corrective nature of this downward leg, following a bullish impulsive wave we observed on the chart, suggests the possibility of another bullish move, potentially testing at least the upper boundary of our longer-term bearish trendline channel. Supportive confluences that we have observed include the inner trendline, which has acted as both resistance and support multiple times, indicating traders' awareness of its significance. Additionally, the price has reached a static support line and a demand area from above, both of which serve as important support levels. Furthermore, the price retraced around 50% of the Fibonacci level of the last bullish move. Additionally, we've observed the formation of a 4-hour bullish engulfing candle, which can be seen as a trigger for this potential buying setup. If you have found this analysis helpful, please take a moment to leave a like and a comment or share your idea with me.
SPREADEX:NIKKEILong
by mohemati
1
#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