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Candlestickpattern

TSLA: The Key Points We Should Watch From Here.• TSLA stock is trying to do a bullish reaction, after yesterday’s crash, but it is still under important resistance levels; • As long as TSLA remains under the 21 ema + 186 (red line), no bullish scenario will materialize; • Only if TSLA breaks these resistance levels we might see something new, otherwise, the bearish sentiment will persist and in this scenario, the 186 is our next target. • In the daily chart, TSLA did a powerful bearish candlestick under the 21 ema; • As mentioned before, the 176 is the next support level on it. If TSLA loses the 186, it’ll trigger a clear bearish pivot point, or even an inclined H&S chart pattern, indicating that the long-term trend will remain bearish; • Therefore, the 176 is a critical support level, while the area around 186 is a critical resistance; • On the other hand, if TSLA breaks the 186 area, we might see another rally; • Last week TSLA did a Hammer candlestick pattern, which is a bullish reversal pattern 60% of the time, and hit its target around 88% of the time (Bulkowski, Encyclopedia of Candlestick Charts); • It all depends on how TSLA will react around these key points from now. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
1
🔎 A Look Inside The Candlestick Chart📍What Is a Candlestick? The formation of the candle is essentially a plot of price over a period of time. For this reason, a one minute candle is a plot of the price fluctuation during a single minute of the trading day. The actual candle is just a visual record of that price action and all of the trading executions that occurred in one minute. [b📍Who Discovered the Idea of Candlestick Patterns? It is commonly believed that candlestick charts were invented by a Japanese rice futures trader from the 18th century. His name was Munehisa Honma. Honma traded on the Dojima Rice Exchange of Osaka, considered to be the first formal futures exchange in history. As the father of candlestick charting, Honma recognized the impact of human emotion on markets. Thus, he devised a system of charting that gave him an edge in understanding the ebb and flow of these emotions and their effect on rice future prices. 📉Bearish Candle 🔹 Open Price: A bearish candlestick forms when the opening price of a currency pair is higher than the closing price of the previous candlestick. 🔹 High and Low Price: During the candlestick's time frame, the price moves higher than the opening price and then declines to form a lower low than the previous candlestick. 🔹 Body: The body of the bearish candlestick is colored red and represents the difference between the opening and closing price. The longer the body of the candlestick, the stronger the bearish sentiment. 🔹 Upper Shadow: The upper shadow of the candlestick represents the highest price achieved during the candlestick's time frame. The longer the upper shadow, the greater the bearish pressure. 🔹 Lower Shadow: The lower shadow of the candlestick represents the lowest price achieved during the candlestick's time frame. The shorter the lower shadow, the stronger the bearish sentiment. 📈Bullish Candle 🔹 Open Price: A bullish candlestick forms when the opening price of a currency pair is lower than the closing price of the previous candlestick. 🔹 High and Low Price: During the candlestick's time frame, the price moves lower than the opening price and then rises to form a higher high than the previous candlestick. 🔹 Body: The body of the bullish candlestick is colored green and represents the difference between the opening and closing price. The longer the body of the candlestick, the stronger the bullish sentiment. 🔹 Upper Shadow: The upper shadow of the candlestick represents the highest price achieved during the candlestick's time frame. The shorter the upper shadow, the greater the bullish pressure. 🔹 Lower Shadow: The lower shadow of the candlestick represents the lowest price achieved during the candlestick's time frame. The longer the lower shadow, the greater the bullish sentiment. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
6
Sells development on USDJPYThe downside movement continues and yesterday we saw 130.60. Tomorrow and Monday are rest days for most of the markets and no movements are expected. Before such days, it is advisable to reduce the number of open positions and the risk of them. Therefore, we are looking at closing some of the profit on USDJPY today and looking for new entries early next week after a correction. This will be a good opportunity for all those who have not yet joined this movement.
Short
by ForexTrendline
2
Selling USDJPY Yesterday we commented that we are not looking for an entry on the EURUSD and are looking at other instruments with clearer movement. One of these instruments is USDJPY. The 133.10-133.20 sell zone was determined by a Fibonacci retracement. A 180-pips decline followed, which we expect to continue. All stops can now be placed above 133.20 or at entry levels if made on the bounce. The target for this move is 128.65 and is again one of the main instruments we will be trading today.
Short
by ForexTrendline
2
My Experience Going "Long" Into MondayHOORAY! I am extremely proud to earn my very first $50 bucks trading on the markets! Now that I've gotten that out of the way, I'd like to share my experience trading this pair over the weekend, as well as give you some feedback about myself while in the live trade, because it may help someone like you out there in the future. Since I started working closely with my mentor , I've learned to minimize the pairs I trade with, and to stick to "ONE" strategy that works for you! When I first started trading, I used several indicators. Once I learned that they were lagging indicators, I decided to figure out what other type of indicators are out there. I stumbled across "leading" indicators, on YouTube, and discovered price action. My mentor gave me a crash course on "zone-to-zone" trading , and I've been following this strategy ever since. Now to find a "Golden" entry, I use a Fibonacci, this gives me a foundation, and allow me to discover my risk reward ratio, as well as stop loss. Although I won this trade, over the weekend, my mentor was really concerned about my decision, one, because I held my trade over the weekend. Yes the swap fee was .24, but it was worth it. & Two, I entered the trade at a resistance. However, my technical & fundamental analysis indicates the market went "Long". I am sharing this because when you enter a trade, you have to block out the noise. It is good to receive criticism, ideas, or suggestions from others, but at the end of the day, it is up to you, and you only to follow your trading plan. You are the one who enter, and exit the trade, no one else, so stick to your guns, ESPECIALLY if you have done your due diligence, and spent time studying the market you are in. On the fib, you can see price went below my stop loss, but I stayed inside my trade because I had three solid short term confluences, 1. My entry was in a "LONG POSITION" zone on my chart. 2. Price also had a Long Upper Shadow in the 4 hour chart. 3. Price did not breakthrough uptrend on the DAILY chart. My mind was set, off to bed I went, when I woke up this morning, I immediately closed my trade. Why? 1. I hit my 1:3 reward ratio 2. My profits where in double digits. In conclusion I'd like to share today's entry from my trading journal: NEWS: Australia raised interest rates by 25 basis points in March, lifting the cash rate, and bringing borrowing cost to an almost 11 year high of 3.6%. DID I FOLLOW MY PLAN? Yes, I exercised my price action strategy.. WHAT DID I DO WELL? 1. Did not try to predict the market! 2 .Avoided the fear of missing out, by setting a "buy limit" 3. Identify three confluences or more. WHAT CAN I DO BETTER? 1. When In Profit, Trail & Stop It. 2. Wait for my confirmation! 3. Have an even stronger confluence WHAT DID I LEARN? 1. Kill The Noise 2. Wait for my confirmation! 3. New Candlestick Patterns DID I PREPARE PROPERLY? Yes, I allowed myself to participate in a technical analysis session with my mentor, I charted my pair, read my trading plan, & followed my trading plan! If you got any value from this post, leave a comment, I'd love to connect with other traders! Happy trading :) - Cheers
Long
by Cashflowmarcofx
TSLA: False Breakout + Exhaustion Bar.• TSLA did a false breakout from the $200, and this key point is working as a resistance again today. The $200 is our most important key point, as I already mentioned in my previous analysis (link below this post, as usual); • Today’s movement is rejecting Friday’s candlestick, which was a powerful candle that broke the $200 resistance. This gives the impression of an Exhaustion Bar; • In order to avoid a sharper correction, TSLA would need to do a bullish reaction as soon as possible. Otherwise, it could drop all the way down to the $187 again; • The $187 is our key support, and only if TSLA loses it, the trend will reverse and become bearish again; • So far, TSLA has been doing higher highs/lows. It broke the previous top last Friday, and if TSLA finds a support above the $187 area, this will reinforce a bullish thesis; • In this scenario, TSLA would just keep trending, and the $217 would be its next target. It all depends on how it’ll react in the next couple of days; • For now, it appears TSLA triggered an Exhaustion Bar, and as the name suggests, this indicates exhaustion. I’ll keep you updated on this, as usual. Remember to follow me to keep in touch with my daily analysis!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
8
It's NOT Perfect, but would you say NO to 309pips of Profits? It's NOT Perfect, but would you say NO to 309pips of Profit Potential? The Bearish 5-0 Patterns has completed on the Daily Chart(right), the doji candle looks great for aggressive trader for a shorting opportunity, the RSI didn't went overbought, and that cause this setup to be not as perfect as we want it to be. Alternative ways to engage the trade, is to wait for the market to retest at 83.60 on the 4-hourly chart or the 1-hourly chart. When the retest happens, it will produce an RSI Divergence that allow us to engage the trade, that produce a Lower Risk with a Higher Returns. If you are looking for a buying opportunity, 82.60 is the level you can wait for a retest of support or a double bottom with RSi Divergence. Which side of the trade would you choose? Shorting opportunity or Longing opportunity?
Short
by RaynLim