ETHEREUM CONTEXT ANALYSIS QUICK UPDATE (BEWARE!)This is just something that I must alarm people about especially those that are way too new in the market right now regarding the Ethereum price action. Please don't get jebaited by this candlestick, I swear to gosh I will frown at you for even considering buying here with the SP500 and NASDAQ so much red and no confirmation. If you don't want to short, that is absolutely fine to wait for confirmation which you should always do.
The rule of hanging man candle stick is that it reverses to the downside if the next day candle DOES NOT close higher than it and will most likely fail. This is especially stronger in a bear market, a trending market more specifically. Be warned and manage your risks!
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Candlestickpattern
EURUSD sells We shared our sell zone yesterday and also saw the reaction from it already
Today, we may see another test of that same area and rejection again.
That means, we may have another chance to sell.
The target remains below 0,9900 but right now you can leave it as an open take profit. Once the move begins, then we will be able to determine specific targets.
Also, today is the Jackson Hole Symposium, which could lead to bigger fluctuations in price!
Bullish/bearish idea I will be watching price for the next 24hrs . Price looks like it may try to buy the weekly and daily candle are currently green . Above 21,802 I’m looking to place a buy and risk 1% of my account value to gain 3%.
I will place a short if price goes below 21,293 and risk 1% of my account to make 3% .
What does Gold do in this current area?Price often movs back between these two white lines. These are both significant S&R.
Starting at the green slash: Bullish engulfing which closes higher than previous candles. This is followed by four more bullish candles.
Finally, close to a resistance, price makes a doji. I expect that this is where many were taking profits.
The very next candle is another bullish engulfing which breaks above and closes above the yellow support. This is pre London.
Price continues bullish until it hits the upper white line-very strong resistance.
Once here, Gold makes long upper wicks to the resistance. The first and last shooting star are big clues that price will potentially be moving back down.
Many times in bearish movement, there will be a reaching wick followed by a strong close, which is what we see here.
The first bearish candle pushes price below, but closes above. The second candle pushes well through and closes far below the yellow support now turned resistance.
There is a piercing pattern created with the two candles at the yellow circle.
Price moves back up to the yellow resistance, creates a doji, and pushes back down. Comes back up and closes at the yellow resistance again. Now, Gold created a double top at the green box.
Since the Double Top was created, We can see Three Black Birds signifying more bearish movement.
Will price stop at the yellow circle? Or, continue to push down to the other yellow line and white line?
A Breakout Signal!With significant price movement from the previous trade, the candlestick indicates a breakout signal where the price closed above the MA200 line backed by high volume due to buying interest.
MACD and OBV indicate a divergence signal and confirm the price uptrend towards the next price resistance.
Precaution since RSI is at indexer 70; becoming overbought or overvalued. It may be primed for a trend reversal or corrective price pullback.
Let's save EG in WL and watch out price uptrend towards the next price resistance.
R 0.570
S 0.515
EURUSD sell zone Yesterday, we said that the pullback has already started
Today, we will see when is it going to end and the potential sell zone.
What we want to see today is another push higher to 1,0027-1,0101.
Once we see price around those levels, we want to watch out for possible exhaustion in price and that will give us a signal for potential short positions.
Targets will be below 0,9900. Once we see that reversal to the downside, we then will be able to determine specific tp levels.
It's time for a pullback on EURUSD We saw EURUSD reaching 0,9900 and then bouncing back with more than 100 pips move.
This will probably result in a pullback before the next selling opportunities.
Now expecting a move up to 1,0060 and then possible short positions again.
Any long positions right now are considered risky as they're against the main move, so make sure to use less risk!
A new low on EURUSD Yesterday we saw a breakout of 0,9950! Those are historical levels for this currency pair but that doesn't mean we shouldn't be looking for further continuation down.
We are now expecting to see price even lower. The next target is 0,9900 and basically the round numbers after that.
Entries could be made with aggressive stops and after any small pullback.
You don't even have to use a fixed TP but instead, you can have an open target and just move stops into profit every time price creates a lower structure.
Sells on EURUSD from 1,0120We're looking for a possible continuation down on EURUSD and price reaching 0,9950.
We can look for entries once we see a pullback to 1,0120 and then wait for a candlestick confirmation signal.
Stops should be placed above 1,0205 or above the reversal candlestick signal if you want to be more aggressive.
EURJPY - Bearish ButterflyEURJPY has the most interesting trading combo. Traders can check out its chart, from the 1hourly chart to the Weekly Chart. It shouldn't be too hard for you if you are a trained Harmonic Patterns trader.
The Bearish Butterfly Pattern completes at 141.88, be patient and wait for the 3-bar reversal pattern.
Gold is bearish AGAIN?Gold has travelled back down!
Start at the purple line. A descending triangle was made. At the first arrow, there is a breakout to the upside. The descending trendline was broken and price moved up just over 100 pips. Gold was looking like it could continue to rally up.
Until the Shooting Star and Bearish Engulfing Candles appeared-Orange circle.
Price demonstrated that it wanted to continue down by breaking through the green line which was previous support turned resistance.
Price came back for a retest and created a gravestone doji at the blue arrow. Gravestone doji's say that price tried to go up, but was pulled back down by the bears to close right around the open-Very bearish.
From there, a downtrend was created. Price continued to respect the downtrend all the way to the close apart for one anomaly breakout. Well, in gold, this breakout isn't really an anomaly because Gold often behaves in unexpected ways. Gold wanted to shoot back up quickly before coming back down and obeying the trend line again.
Once Gold reached the white line, price bounced off, tested the trend line again, and closed at the bottom.
The daily and weekly show very strong bearish candles here.
FCPO M1 TF Hi!
Again and again observing price reactions on M1 TF while applying HMA 9,21 & 50 to see price reactions when these HMA's crossing each others up and down.
Fibonacci retracement helps to measure entry, SL and TP. Observe closely when HMA 9 crossing HMA 50 it will give effect golden and death crossing , very useful to gain in Long or short position.
gud luck!
EURUSD broke an important level.Yesterday we saw a break of 1,0121
As we already mentioned, this confirms downside direction.
On a test of the level, we expect a pullback and continuation toward parity.
It should be watch for weakening of that movement and new corrections after that.
More opportunities will come up once the price reaches 1,0200 again.
Emerged of Buying Interest!A significant price movement on 10 Aug'22 due to buying interest hence the price closed above the MA50 line backed by a high volume. Then, there was a price correction before the price continued with the price breakout move on the previous trade. Again backed by significant volume compared with the previous trading. Therefore, fresh buying interest has emerged and is set to lift the stock higher.
MACD and OBV trend lines are set to a positive uptrend due to buying interest.
Precaution since RSI is over indexer 70; becoming overbought or overvalued. It may be primed for a trend reversal or corrective price pullback.
Let's save PEKAT in WL and watch out for significant price movement with volume due to buying interest from traders.
R 0.565
S 0.460
Question: So many long wicks/shadows. What does this mean???Hello traders,
There are SO MANY long wicks/shadows recently, and it happens near the top of the wedge structure, but it's not clear to me what the buyers and sellers are doing.
I have never seen this kind of price action before so I wanted to ask the community.
How could we interpret these wicks/shadows?
Any ideas on how to interpret this kind of recent price action would be much appreciated :)
EURUSD with another test of 1,0121We are expecting another test of the support that the pair couldn't manage to break below the first time.
If it makes it this time, then it will confirm the idea for a downside move.
In case of rejecting the support again, then we will expect another move back to 1,0200 and another test after a pullback.
Right now, we don't have any clean opportunities here on EURUSD and that's why we prefer to look at other instruments.