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Candlestickpattern

Tricky Times, I'm Counter-Trend Now!💲 Despite my Dollar Bias, all eyes are on US Secretary Treasure, Ms. Janet Yellen's upcoming speech in Bloomberg. Analyzing her insights could confirm the dollar's bullishness for the year ahead. 📈 On the Daily Chart (right), there's an outside bar on the support line. Patient traders await one more day's candlestick before deciding their next move. 📉 If you're determined to short USDJPY, keep an eye on the 1-hourly chart (left) at 138.89, as long as the market stays within the sell zone. It's worth considering. 📈 On the other hand, if you're bullish, pay attention to the key level at 138.21 for a potential head and shoulders pattern, indicating a buying opportunity. ⚖️ If you're torn between shorting and buying, observe how the market behaves at 138.21. A violation confirms your short, while no violation means a tough decision awaits.
Short
by RaynLim
Candlestick pattern: Shooting starShooting Star is a bearish candlestick reversal pattern. It signifies the end of an uptrend and the potential start of a downtrend. Its opposite is the Morning Star. When analyzing this pattern, we should observe if the confirming candle closes within the lower third of the range formed. This condition acts as a filter when deciding whether to initiate a trade or not. This filter makes sense because a stronger confirming candle indicates greater rejection of the uptrend continuation, thus increasing the likelihood of the pattern's success and the formation of a new downtrend. On the other hand, if the confirming candle does not close below two-thirds of the range formed, it could indicate weakness in the direction of the trend and decrease the probability of the start of a new downtrend.
NASDAQ:AAPLEducation
by JRiquelmeTrading
Chart pattern: Head and Shoulders (H&S)The Head and Shoulders, from now on referred to as H&S, is a chart pattern used in technical analysis of stock markets. It is a pattern that indicates a reversal, signaling the end of a trend and the beginning of a new trend in the opposite direction. It is one of the most important and widely used patterns due to its high reliability and the number of required implications. However, this does not mean it is infallible, as its success rate is around 70%. Regarding its potential projection, if the price breaks below the support line after the formation of the Right Shoulder (RS), the range between the maximum price of the Head (H) and the support line is measured. This distance is then applied to the breakout point, as shown in the image, to obtain the minimum pattern projection.
Education
by JRiquelmeTrading
1
EURUSD before CPISome of the most important news for the market at the moment will be published today. Inflation data in the USA will be announced at 15:30 Bulgarian time. Regardless of the values, larger fluctuations are expected. Therefore, before important news, it is recommended to reduce the risk of active positions and avoid new trades. EURUSD continues its uptrend and 1.1080 is getting closer. Corrections and stop hunting below the previous bottom are entirely possible. We will look for new entries after the news!
by ForexTrendline
2
GOLD speculation, what to expect!Making a top down analysis from higher TF, starting from weekly, looking at the ascending trend line, gold is in uptrend, after weeks of correction that broke the trend line into the strong demand zone, moving to daily TF and seeing a reversal candle stick star pattern on the strong demand zone it could be the end of the corrective move. on 4H TF price is in range between two opposing zone , if the supply is out as in 1937.63 loll there will be a possible rise to next supply zone as in 1967.72 level.
FOREXCOM:XAUUSDLong
by ExtraOrdy
Clean impulse on $CRCT - Wave 3 to follow It had a clean impulse on the daily chart. Now with 61% retracement done, it would be a good idea to consider Wave 3. Momentum Indicators are bullish on the weekly chart and it has taken a support from 40-week EMA. The candlestick is a hammer pattern as well. Classic example of resistance turned into a support or in other words, breakout and a retest. Morning Star Candlestick pattern on the daily chart which is a Bullish Reversal Pattern. The setup has a Risk-Reward Ratio of more than 8 with the SL being recent low and profit level being the equality level by Elliot Wave method. With parallel channeling, the approximate time for the trade can be expected around one month.
NASDAQ:CRCTLong
by Shivam_Gaba
2 different perspectives🔍 Let's explore the current outlook on USDCAD from two different perspectives. 📉 The major break of a key support level suggests a bearish sentiment in the market. I'm inclined to take a shorter position, and I'm patiently waiting for a retest at 1.3305 for a potential shorting opportunity. 🕰️ However, if you have a different view, on the 4-hourly chart, there is a support level at 1.3268. You can wait for a confirmed candlestick pattern before entering the trade, ensuring a more conservative approach. Stay tuned for more updates and trading opportunities as we navigate the market together. 💼📊 #USDCADAnalysis #BearishSentiment #ShortingOpportunity #SupportLevel #TradingOpportunities #StayTuned
Short
by RaynLim
Major Counter-Trend Trade🔍 Dive into my latest analysis on the related article and compare it with my previous week's analysis. 📉 Just like last week, we have identified the formation of a Bearish Shark Pattern. This pattern suggests a potential bearish movement in the market. ⚖️ For conservative traders, it's recommended to wait for a violation of the trendline on the 4-hourly chart. Once the trendline is violated, patiently wait for the retest before considering entering the trade. Stay updated with my analysis as we navigate the market and uncover potential trading opportunities. Don't miss out on valuable insights! 💼📈
Short
by RaynLim
2
Counter-Trend on USDJPY📉 This week, I'm keeping a keen eye on a counter-trend trading opportunity for USDJPY. I'm patiently waiting for a potential shorting opportunity at the Key Resistance Level of 142.96. ⚠️ However, it's important to note that despite this shorting opportunity, my overall bias remains bullish on the US Dollar. This week appears to be a retracement week in the market. Stay tuned as we navigate through market movements and identify potential trading setups. Let's make the most of this retracement period! 💪💼 #USDJPY #CounterTrendTrading #ShortingOpportunity #RetracementWeek #StayTuned
Short
by RaynLim
Buying Opportunity📈 My bias is strongly inclined towards buying GBPUSD. Currently, I'm eagerly anticipating the formation of an Ascending Triangle trading setup. 🔍 There are two possible scenarios to consider: 1️⃣ Waiting for a retest back to the trendline for a prime buying opportunity. 2️⃣ Observing a violation of the red line at 1.2853, followed by a retest, before entering a trade. Stay tuned as we closely monitor the market for the ideal buying entry. Don't miss out on this potential opportunity for profitable trades! 💰💼 #GBPUSD #AscendingTriangle #TradingSetup #BuyingOpportunity #StayTuned
Long
by RaynLim
🚀📈 Riding the Bullish Wave: Nasdaq Buy Signal Activated! 🚀📈This is an exhilarating opportunity on Nasdaq, unveiling its bullish potential on the 1-hour timeframe. It's time to catch the wave of profits as we dive into the intricacies of this highly reliable trend continuation setup. Our journey begins with the formation of a bullish bat pattern, a formidable harmonic pattern renowned for its accuracy. The current market dynamics have set the stage for a bullish resurgence, and we're here to capitalize on it. A crucial element of this setup lies at the support level of 14220, which witnessed significant rejection candle formations last week. This level, also known as Point X in the harmonic pattern, adds weight to the bullish thesis. As price now hovers above this support, the stage is set for an impressive rally. Our technical arsenal receives reinforcement from the Relative Strength Index (RSI), further solidifying our buy signal. The RSI confirms that this area is an excellent buying opportunity, aligning with our analysis of the support zone. Additionally, an inside bar breakout, represented by a bullish candlestick, further strengthens the case for a potential reversal in this area. It's important to emphasize the consistency of these multiple indicators, enhancing the reliability of this setup. When different technical elements converge, the probability of success skyrockets, providing us with a significant trading edge. Now, with our sights set on profit targets, we anticipate a bullish surge in Nasdaq. Buckle up as we aim for the stars! Keep a close watch as price progresses, but consider taking some profits when price approaches the Potential Reversal Zone. As with any trade, prudent money management is key to long-term success. Don't forget to press the like button if you think this insight was helpful 🚀📈💪
OANDA:NAS100USDLong
by Thomas_Zito
8
Dollar-Yen Remains Bullish📉 The analysis on USDJPY remains bullish, but for now, we're on the lookout for counter-trend trading opportunities. 🔄 📉 The Bearish Fib-3 Bat Pattern at 149.15 offers a potential shorting opportunity, although it may take some time to validate. 📉 Alternatively, a break of the trendline on the 1-hourly chart could provide a more immediate shorting opportunity. We're watching for a retest without violating the trendline. ⚠️ However, the trendline hasn't been convincingly broken yet, as the candlestick failed to close below it. 🔍 USDJPY is currently of lower priority for trading this week. Share your trade plan! 📊💭
Short
by RaynLim
2