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Candlestickpattern

Gold's cruel wicks-a 1 hr analysisThis trade setup is tricky. Near the top there was some consolidation with higher closes. The most interesting candle here is the giant wicked shooting star. this is followed by a bearing engulfing. But! A larger Bullish Engulfing brings price back high again. The next candle confirms that the bulls are losing out: spinning top. This is followed by a Bearish Engulfing. However, just a few candles later, Gold sends a wick up very high again. This is after price came to a new found support. At this support, price bounced off traveling about 50 pips up. Gold sends a Bearish Engulfing with no upper shadow to break through the support and continue pushing down. After breaking support, Gold sends wicks up to the support level several times and eventually goes down for a total of around 200 pips from top to bottom. The difficulties in this trade are the terrible wicks. Without precise predictive entries, price moves too close to Stop Losses or pushes right through them (which happened to me every time!) I had the overall trend picked out, but my entries were not ideal based on the movement which happened throughout the day. Namely, traveling wicks. I think there are basically three optimal entries which are circled. These are based on previous levels of resistance/support. The final circle being the most optimal in terms of trade confirmation.
FX:XAUUSD
by Shanktown
Da Bears and Gold-1hr candlestick This area showed potential to become a double bottom. The white line is the yesterday's daily close. You can see how two Hammers were created. This formation ended up being just part of a bounce of a larger bearish move. The candle immediately following the second hammer is a large Bearish Engulfing which closed right at the level of support. The next candle has no upper wick and was able to push down. The Daily support now turned resistance. If this Bearish momentum continues, we could see Gold continue to drop several hundred dollars.
FX:XAUUSD
by Shanktown
A Strong Uptrend Pattern!A significant price movement from the previous trading due to intrigue buyers backed by a high volume. Hence, the candlestick body closed above the MA50 line. This indicates a strong buying interest in CYPARK from the previous candlestick pattern toward the uptrend pattern. MACD and OBV indicate a divergence pattern, hence, supporting the pricing uptrend towards the next price resistance. The RSI indicators are not yet exceeded indexer 70, therefore, low probability of changes in trend reversal due to overbought or overvalued. The Price of Control (PoC) is 0.42 and above the VWAP line which is possibly a long position trading strategy. Let's save CYPARK in WL and watch out price movement towards the MA90 line as the next resistance price. R 0.460 S 0.385
MYX:CYPARKLong
by eskopitehmilo
Emerged of Buying Interest!Due to published news for the RM13m deal, there is significant buying in hence the price closed the MA50 line backed by significant volume compared to the previous trade. MACD and OBV indicators confirm the price uptrend towards the next resistance price which is the MA200 line. Precaution for a price correction between 10% - 20% from the recent peak where it may be primed for a trend reversal or corrective price pullback. Let's save VELESTO in WL and watch out for a price uptrend towards the next resistance price which is the MA200 line. R 0.115 S 0.085
MYX:VELESTO
by eskopitehmilo
GBPJPY LONGGood evening guys, I've just hoped on the charts and GJ is looking very clean, if there's a perfect example of a break and retest, this is one lol! 166.0 is a huge area of resistance and we've absolutely smashed through it and this is after printing a double top so this really shows that buyers are in control of the market. For this trade, I'm now waiting for price to come back down to 166. where I'm going to looking to take a buy, but first, I'm going to wait for a nice rejection which can be a depletion of selling pressure combined with buying pressure. We want wick rejections and bullish candles being printed then we will take a buy own this pair. First and last TP will be the next level of resistance (168.) I'm tired so hence the lack of information regarding support / resistance, candlestick patterns, Fibonacci's etc. This trade is mainly supply and demand crossed with a standard break and retest - we don't need to overcomplicate things!!
Long
by TomBray1
USDCAD- 240 MINS CHARTThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: its my view only and its for educational purpose only. only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. we anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle. buy low and sell high concept. buy at cheaper price and sell at expensive price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support.... Tradelikemee Academy
Long
by Tradelikemee
EURUSD-Weekly Market Analysis-Sep22,Wk3Before we start, you have to be aware that both the Daily and 4-hourly chart is in the Bearish Trend but the 1hourly chart is in a Bullish Trend. On a mid-long term perspective, I'm waiting for a shorting opportunity, however, on the 1hourly chart you can wait for a buying opportunity. So how does this work? If a Bullish Trading Opportuntiy presents itself on the 1hourly chart, I'll take it. I can even stretch my 2nd target if the setup shows such opportunity.
Short
by RaynLim
5