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Candlestickpattern

SPX: Be aware of this KEY POINT! Is this a bottom?• The index did exactly what we described yesterday, as we nailed another support level on the index, at 4,028 (it hit 4,026, but we aren’t that perfectionists). The link to my previous analysis is below this post, as usual; • Now the index is trying to react, and the 4,028 is just where the 21 ema is (1h chart); • It is losing strength, but if it closes above the 38.2% retracement, it might bounce a little bit more; • However, if it loses our dual support level made by the 4,028 + 21 ema, then it’ll probably seek the next retracements; • The 61.8% is the last one, and only if the index loses it we might see a sharper correction in the daily chart, to its 21 ema; • Speaking of daily chart, it seems it triggered a Spinning Top candlestick pattern, which might bring more correction ahead; • For now, let’s pay attention to the dual-support level in the 1h chart, as it all depends on how it’ll react around this area today. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
1
#GBPNZD selling opportunityPrice has been trapped in a rangy market for quite some time, but as it can be seen finally managed to break the consolidation area to the downside which means more downside move can be followed. this kind of formation base on DOW theory area called line formation and by the way they are considered as very important when they break to the one side. As it can be seen we are already in down trend and breakout of the range area from below shows that a trend may potentially resume. But also it should be in mind that the breakout can always turn to be fake signals and also price can still come higher and take out liquidity from above too. But for now and to keep things simple we need to be looking at the nearest resistance area to the price which is a structure point, because it used to provide support for price before and now that price broke this area to the down it could provide resistance. and as you can see price already came back to this area once and rejected from. Now and in the second try if price reject to the downside from this area after a liquidation you can say that this area would hold and selling is an option.
Short
by mohemati
#USDCAD another sell opportunityPrice has formed a V-TOP chart pattern formation as you can see in 4H timeframe and also managed to close below 4H low which means that our structure now turned to bearish again. due to V-TOP formation price formed a bearish engulfing candle in Daily timeframe which is a strong signal for bearish move and also as we can see we are in overall in bearish move so we can interpret this daily candle as an continuation signal for higher wave cycle. Now that we have bearish bias we should be looking for areas which potentially price can tap into in lower timeframe like 1H or lower, take out some liquidity and turn to the downside again.
Short
by mohemati
2
Double bottom forms on USD/JPYUSD/JPY remains within a bullish trend on the daily chart, although prices have retraced -9.4% from its 24-year high. Prices have held above the 137.70 area and produced a double bottom pattern, with a bullish divergence on the stochastic oscillator. Two small bullish hammers have also formed to suggest the markets is trying to form a swing low. The bias remains bullish above the recent low, and we anticipate a break above 140 and an initial move to 142.
Long
by CityIndex
More downside potential on MLSUSDTA short walkthrough it's recent price journey shows it had a huge pump to the upside then followed by two double top formation and now price has broken the base of the double top, the bull camp from previous pump is now trapped, any liquidation will only exacerbate and head lower for this pair, a minor bounce to the support-turned-resistance will likely be met with heavy freshing selling or trapped bulls stepping over each other to get out. Hence, this walkthrough suggests there is more downside to come and expect previous low 0.128 to get tested.
MShort
by FxCloudTrader
NZDUSD - Bearish Shark comboNZDUSD has a Bearish Shark Pattern on the intra-day and daily chart timeframe. My engagement will be on the intra-day timeframe; that's when the Shark Pattern completes at 0.6270. A minimum of 3-bar reversal must be seen on the intra-day timeframe before engaging in the trade. I would stretch my targets to which of the daily chart patterns, giving me a lower risk with higher returns. You can't do this to all trading setups, and you have to understand the trend well before you could even consider doing that.
Short
by RaynLim