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Candlestickpattern

USDJPY-Weekly Market Analysis-Oct22,Wk2In my analysis of the USDJPY Daily Chart, the Bearish Crab Pattern still stands. At this moment it is a Bearish Crab Pattern checkback, which means it is at its best possible price for interested traders to engage this trade with the best Reward:Risk that is possible that happens on the Crab Pattern. Personally, I'm not that crazy about that because of the prolonged consolidation. I'm more interested in the buying opportunity as I believe that USD still have room for appreciation.
Long
by RaynLim
4
QQQ: Doing as expected, but be careful with this resistance!• QQQ did an Above the Stomach candlestick pattern just above the previous support at $268 (black line); • This candlestick pattern was triggered, and QQQ is trading at its first technical target at the 21 ema; • QQQ didn’t trigger the bullish candlestick pattern we mentioned last week, and the moment it lost the $275, it just went down to seek our next target at $268, and it hit it with astonishing precision before reacting again, as we expected. The link to my previous analysis is below this post; • Now that it is near its 21 ema, we’ll see if this is a Dead Cat Bounce or a meaningful reversal sign; • If it loses yesterday’s low, it’ll show some weakness and a bearish thesis will gain strength. However, by breaking the 21 ema, a mid-term reversal would have a first target at $307, to fill the first gap (yellow square); • Either way, QQQ is about to do something interesting; I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
NASDAQ:QQQ
by Nathan_The_Finance_Hydra
EURUSD H1 analysis Like we said yesterday, the downtrend on EURUSD is still valid and the best trading opportunities will appear as soon as price confirms another downside push. However, it is still early to enter short and expect to see a breakout of the previous low. We are now waiting for the pullback to continue and trick us a few more times. That's why we should reduce the amount of trades and position size before we see a clear setup. We could potentially see a drop to around 0,9750 and then another push higher maybe taking price above the parity level.
by ForexTrendline
3
Gaining Uptrend Momentum!The price gained momentum after crossing over the MA20 line backed by volume due to fresh buying interest on the stock. This will be the beginning of a price rally towards the next price resistance. MACD and OBV indicate a divergence signal, thus, confirming the price momentum towards the next price resistance. To place a bid, use VWAP as a guideline then place the bid below the VWAP line. Because the price Point of Control (PoC) is the same as the closed price. Therefore, higher risk for a long trade position. Let's save PTRANS in WL and watch out for the significant price movement backed with volume or the MA50 line crossing the MA20 line, hence, indicating a strong uptrend momentum. R 0.925 S 0.875
MYX:PTRANSShort
by eskopitehmilo
XRP TO $1?We have some heavy price action which has recently broke and this could be the sign of XRP climbing upwards to key levels not seen since May. 1) Weekly Trendline - this has been in state since November 2021 - this hasn't been broken since price action in late September (Bullish) 2) XRP has Strongly broken out of 100 day range trading between $0.30-$0.38 (Bullish) 3) Strong Bullish Volume - this weight has not been seen on the Daily all year 4) Bullish Pennant forming outside of the Weekly Trendline break. Currently on the 12th day of this pattern - we could see this pattern take a few more days to for (Bullish) 5) If price was to break out of the Pennant we look to $0.50 for the BOS and if this is true then we can expect a new strong trend Take profit areas Look to previous Market Structure and i use a simple technique such as LH/LL for price points ( when the market reverses to the upside) - there's a long way to go before we hit $1.00 and we need to reclaim areas we lost this year such as $0.58 $0.65 $0.79 $0.87 Let me know you thoughts on XRP going forward
Long
by LuxTradeVenture
Ethereum Trade Idea 04/10Looking at a potential move to the upside for ETH - price has bounced away from the 1260 support area and now is looking to take on resistance areas such as the 1355 and 1375. Any potential upside on ETH will be short as we look to the HTF which suggests the continuation of the order flow (Bearish) If price was to break these areas, the next level to look to is 1400. If price breaks 1355 and fails to break 1375 then this could be another rejection of a resistance area. On the HTF, price is making consecutive LH and LL. The last sequence of LL/LH rallied 24.65% - this is to be unlikely in the next sequence as we are in a bearish range = high probability to the downside One thing to keep in mind is that we still haven't 100% retraced from rising wedge which took 32 days to form (13/07-15/08)
Short
by LuxTradeVenture
Gold Analysis Sunday October 2nd, 2022Potential Piercing Line on the weekly bouncing off support. Closed above the 50% of the previous week's body. The Daily finished with a Shooting Star. Recently, This candle can funtion in two different ways. 1. Bulls lost out and bears brought price back down. More bearish movement. 2. A test of new highs followed by bulls pushing backing up and going higher. This time, let's look at the previous canle and support and resistance as well. Price is at strong S&R. the previous candle was a Hanging man. However, it closed slightly higher than the previous candle. We have to see what Gold will do this week in order to fully understand what these candles could mean.
OANDA:XAUUSD
by Shanktown
NZDJPY - Bullish SharkTo those who trade based on currency correlation, this is one setup you have to look at. On the surface, the NZDJPY and NZDUSD both have a Bullish Shark Pattern on the 1-hourly chart, but if you look closely at the 4-hourly chart, you will be able to see the future of these two pairs differs from one another. On the NZDJPY, the Shark Pattern is more direct, in and out of the setup. However, on the NZDUSD setup, there is a potential trading combo setup. Check out the related ideas at the bottom of my tradingview post to learn more.
Long
by RaynLim
EURUSD-Weekly Market Analysis-Oct22,Wk1The EURUSD is on a Bearish Trend on both Daily & 4-hourly charts. The key resistance level on the Daily chart is at 0.9900, and on the 4-hourly chart, we have a Bearish Shark Pattern that completes within the sell zone(supply zone) at 0.9866. Last Friday, we did an aggressive short on the 1hourly chart based on a potential double top setup that has an RSI Divergence with it. Currently, the setup is a double top with a retracement pull-back. Normally, it is a perfect opportunity for traders to engage in the trade, I don't quite like the current candlestick pattern confirmation. I leave that to you. Related Ideas is at the bottom of the tradingview chart.
Short
by RaynLim
2
AUDJPY / BUY TRADE SETUP!!Ill be monitoring price around the highlighted zone (91.650) early next week to see how price reacts. We should see a bounce at the least which ill be taking long trades to give myself the opportunity to hopefully see price return to the resistance of 95.700. On the daily you can see we have already had one rejection from this support zone, so a nice morning star formation on the daily would be a good indication to take entry's! As always trade smart risk appropriately!!
Long
by jamison_fx
3
UBER: A bullish reversal pattern! Will it REVERSE?• UBER is reacting today, however, this reaction alone is not good enough to characterize a true bullish reversal; • Today it is doing a Piercing Line candlestick pattern just above the previous support at $27.10 (black line) – a bullish reversal structure; • Although this is a decent reaction, it seems it is too soon to tell if this reaction will last long enough. As far as I know, the trend is still bearish, and UBER is heading to fill the last gap at $24.62; • In addition, UBER did a Double Top chart pattern at $33.78, which indicates more sell-off in the mid-term; • Could UBER perform a better reversal sign? Yes, but it must not frustrate this Piercing Line candlestick pattern (meaning, it must not lose yesterday’s low at $26), and it must close above the $27.69 (dotted line); • Why above the $27.69? By doing this, it’ll frustrate the Double Top chart pattern I mentioned above. This point is the previous bottom seen on September/August and the trigger point of this Double Top; • Only if UBER does both things I’ll see a recover to the $33 again (mid-term). The volume must increase as well, as it has been quite low recently. I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
NYSE:UBER
by Nathan_The_Finance_Hydra