Get started

Candlestickpattern

SPX: About to Correct? Next Key Points to Watch.• The SPX hit its resistance at 4,060, and now it seems it is losing strength; • In the daily chart, we see a Shooting Star candlestick pattern, that if triggered, could take the index to lower levels; • In the 1h chart, the SPX is correcting, and the next support is the 21 ema, which is ascending; • The 21 ema in the 1h chart is almost at the same price the 21 ema in the daily chart is, making this a dual-support area; • If the index loses this dual-support, I see a sharper correction to the 50% Fibonacci’s Retracement, near the 4k. The 4k is an important psychological key point for the index as well. Remember to follow me to keep in touch with my daily analysis!
SP:SPX
by Nathan_The_Finance_Hydra
Gaining Uptrend Momentum!The candlestick indicates a divergence signal due to buying interest from the traders. Hence, making a significant price movement in the stock price and closing above the MA line. The MACD and RSI indicators indicate a divergence signal, thus, conforming to the candlestick trendline. Precaution for a price correction between 5% to 10% from the recent high peak due to a short position from the traders. Let's save MIKROMB in the WL and watch out for significant price movement with volume. R 0.200 S 0.165
M
by eskopitehmilo
SPX: Bullish Reaction Above Golden Cross.• The SPX is doing a very powerful reaction above a critical support level; • First, as seen in the daily chart, it hit the 3,949 support, and it is doing a powerful reaction. Last Thursday it did a Bullish Engulfing, and las Friday, it broke the 21 ema and the 4k; • In the weekly chart, it is doing a Hammer candlestick pattern, a bullish reversal pattern that works 60% of the time (according to Bulkowski – Encyclopedia of Candlestick Charts); • In addition, this Hammer appeared just above the purple line, which was a previous resistance when the SPX was inside a Descending Channel; • Moreover, this Hammer appeared above the 200 ma, after the index made a Golden Cross (the 50 ma broke the 200 ma upwards); • All these signs indicate that although the index may look overbought short-term wise, it has decent chances of maintaining the bullish bias mid/long-term speaking, especially if look at the weekly chart; • I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis!
SP:SPX
by Nathan_The_Finance_Hydra
USDCADHi guys!" USDCAD has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Short
by HamidRamezani1992