Get started

Darkcloudcover

Let's talk about Candlestick Chart PatternsThe candlestick chart patterns are used by traders to set up their trades, and predicting the future direction of the price movements. There are many candlestick chart patterns. I will be discussing a few of those. ✅ Morning Star is formed after a downtrend indicating a bullish reversal. Generally made of 3 candlesticks, first being a bearish candle, second a Doji, and third being a bullish candle. The first candle shows the continuation of the downtrend, the second being a Doji shows indecision in the market and the third bullish candle shows that bulls are back in action. ✅ Bullish Hammer is a single candlestick pattern, which is formed at the end of the downtrend and shows bullish reversal. The real body of this candle is small with a long lower wick which should be more than twice the real body. This candle is formed when the seller pushes the price downwards but at the same time buyers arrive and push the prices up. ✅ Bullish Engulfing is formed after a downtrend, indicating a bullish reversal. It is formed when a bearish candle is fully engulfed by a bullish candle which shows that the bulls are back in the market. ✅ Three White Soldiers is a multiple candlestick pattern that is formed after a downtrend indicating a bullish reversal. It is formed when three consecutive bullish candles appear one after the other. These three candles show a strong bullish trend. ✅ Hanging Man is generally formed at the end of an uptrend and signals bearish reversal. The real body of this candle is small and is located at the top with a lower shadow which should be more than twice the real body. This candlestick pattern has no or little upper shadow. ✅ Dark Cloud Cover is formed by two candles, the first candle being a bullish candle which indicates the continuation of the uptrend. The second candle is a bearish candle that opens the gap up but closes more than 50% of the real body of the previous candle which shows that the bears are back in the market and a bearish reversal is going to take place. ✅ Bearish Engulfing is formed by two candles, after an uptrend indicating a bearish reversal. It is formed by two candles, the second candlestick engulfing the first candlestick. The first candle being a bullish candle indicates the continuation of the uptrend. The second candlestick chart is a long bearish candle that completely engulfs the first candle and shows that the bears are back in the market. ✅ Evening Star is made of 3 candlesticks, first being a bullish candle, second a Doji, and third being a bearish candle. The first candle shows the continuation of the uptrend, the second candle being a doji indicates indecision in the market, and the third bearish candle shows that the bears are back in the market and reversal is going to take place. Thanks for reading and hope you like it. Please comment and let us know your thoughts on it. Happy Trading
Education
by Tuned_Official
TSLA: You must keep an eye on these charts!Hello traders and investors! Let’s take a look at Tesla today! Despite the drop, TSLA just did a pullback to its 21 ema in the hourly chart, no big deal. The problem would be if it loses this 21 ema, as the next support level will be the gap area, around the $ 658 , which is also the red line at previous top . Tesla must react quickly in order to avoid this scenario and resume the bull trend. But the idea of a pullback is interesting if you look at the daily chart: So far, Tesla is doing a Dark Cloud Cover pattern just under the resistance at the black line ($ 689.33). Not by coincidence, the gap seen in the hourly chart, which is near the red line at $ 658, is also very close to the 21 ema in the daily chart . What’s more, if we draw a Fibonacci Retracement from the Jul 8’s low to today’s top, the 50% retracement is quite close to this price level too: The area around $ 658 has everything to be relevant in the short/mid-term , and it will be the best place to Tesla react and do a bullish reversal pattern. It doesn’t matter which side you are (long or short), this is a relevant key point for you to keep an eye on. We’ll see how Tesla will react if it hits there. Meanwhile, remember to follow me to keep in touch with my daily updates, and support this idea if you liked it! Have a good day!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
9
NIO: Do you know about the Principle of Polarity?Hello traders and investors! NIO hit our target at $ 50.40 this week, since we set the target at this level, on Jun 14 ( link to this analysis below this post, if you are curious). Now it defeated the $ 50.40 resistance, and today it is doing a pullback to this price again. This follows the Principle of Polarity : Previous resistances/supports are going to work as supports/resistances in the future. This happens because the market has a memory, and some key points are just perfect for the players to set their orders. Just to give you another example, I think this is better seen on WISH, as we discussed about in this analysis: What’s more, NIO is doing a good reaction above this support, and it is quite close to the 21 ema as well. In the daily chart, we have a classic Dark Cloud Cover pattern, but as long as it keeps above the $ 50.40, all we can say is that this is just a pullback in the 1h chart. The volume is quite high, though, and if NIO triggers this pattern, it might very well retest the 21 ema in the daily chart. We have been bullish on NIO for a quite long time now, even when everyone was very pessimistic about it. This DCC is not enough to reverse the bullish bias, but it might indicate some weakness. Keep in mind that NIO has an open gap at $ 58.65, and this is going to be our next target, if it does any good bullish pattern around. If you liked this analysis, remember to follow me to keep in touch with my studies, and support this idea if it helped you! Thank you very much.
NYSE:NIO
by Nathan_The_Finance_Hydra
5
Bearish Dark Cloud Cover at a 0.618 Fib Retracement On the DailyYesterday TSLA went up to fill a gap before closing bearishly on the daily and ultimately forming a Dark Cloud Cover. This is a bearish signal that could take us down to fill some gaps on the downside, potentially going as low as $412; Any significant price action above the 0.786 retrace will negate this trade and any significant price action below the 55 Day Simple Moving Average will strengthen the validity of this trade.
NASDAQ:TSLAShort
by RizeSenpai
1
HARVEY NORMAN (ASX:HVN) In overbought territoryHarvey Norman is a popular electronic and household appliance branch in Australia however despite profit levels and steady insider buying some data outlines HVN may be due for a correction. Based on Fundamentals HVN has both negatives and positives. Positives: --> High returns despite covid-19 as Australia retail sales dropped 1% --> Steady insider buying ($1.1 mil) in past 6 months --> Heavy insider ownership at around 41% This essentially shows that in the long term insiders are comfortable with the direction of HVN and believe in long term success. --> Vaccine rollout is commencing in Australia meaning lockdowns should not occur Negatives: --> As covid-19 is still around the unlikely chance of a lockdown can be debilitating to the stock price. --> Australian Retail sector is overall struggling On a technical analysis pov HVN shows some rather bias signals. Some include: --> Completion of dark cloud cover candlestick pattern (Bearish Reversal Signal) --> Hitting resistance of wedge pattern and as of 22/03/2021 was unable to break Oversold in terms of: --> RSI --> Bollinger Bands --> MFI Overall in short term perspective HVN is oversold and a short position can be effective however with good management and growth in profits can be a good long term stock. A stop lose will be when price opens above the trend line of wedge as it may act as support level Profit levels are at minor support levels however if price strength appears then profit levels may be increased to bottom of wedge.
ASX:HVNShort
by Mikey_Scali
GE: The single most important price level for GE!Hello traders and investors! Let’s talk about GE today! It is my first analysis about it, and I hope it helps! First, in the 1h chart we see that it is trading slightly under the black line at $ 13.27 , which is a Key Point, as it worked as support and resistance alike, in the recent past. If GE loses this point for good, we can expect a sharper pullback in the daily or even the weekly charts. If this chart pattern confirms to be an Island Reversal , then it is almost certain that it’ll seek lower levels. In order to avoid this scenario, GE must react quickly, and fill the most recent gap in the next upside movement. Now, let’s see the daily chart: Today’s candlestick is quite intense, but the day is not over yet, so, we still might see a reaction. But it seems GE is going to seek the 21 ema in the daily chart at least. The trend is still clearly bullish, and pullbacks shouldn’t be scary at all. The 21 ema is an interesting support level, and any bullish reaction around here could be an opportunity to buy. The problem is that the pullback might be more intense than we expect. See, the black line at $ 13.27 is still visible here, and it seems it is older than it looks, despite the fact it is still working wonders in the 1h chart. The weekly chart will give us an answer: Yep, the black line is the top level prior to last year's crash. It is amazing how the market still remembers this price level, and how it works very well in the 1h chart more than one year later. The problem is, if it closes under this black line in the weekly chart, the market will see this as a Dark Cloud Cover candlestick pattern, and the technical target will be the 21 ema in the weekly chart. This could lead to a pullback that would last for some weeks, but still, won’t be enough to change the bullish bias seen since Sep 2020. In fact, it could be an amazing opportunity to buy, at a cheaper price. Let’s be prepared for this scenario and wait calmly for more clues. If you liked this analysis, remember to follow me to keep in touch with my daily studies, and if this idea helped you, please, support it with your like! Thank you very much!
NYSE:GE
by Nathan_The_Finance_Hydra
7
BTC - D1 - INTRADAY HIGH @ 55855, BUT...D1 : Another long white bullish candle has been triggered yesterday; today's ongoing price action is showing, for the time being another kind of picture. Indeed, after having, on one hand filled the Fibonacci retracement extension (78.6% @ 55072) and even pushing higher to an intraday high of 55855, BTC has been rejected by the former primary uptrend support trend line, which became a resistance. As a result, BTC reversed and is currently traded in the middle of the new uptrend channel in an ongoing bearish price action. Nevertheless, as we are on D1 observation, we need to wait the level today's closing to get confirmation of the upcoming development. SCENARIO A : BEARISH A daily closing below 53678 would trigger a dark cloud cover pattern which would already be the first signal of a trend reversal and a closing below the opening of yesterday's session @ 52427 would trigger a bearish engulfing pattern. A failure to hold above the former pivot level of 51530 would put the focus on the first significant support area, which is the cluster of the three following : Tenkan-Sen, Kijun-Sen and Mid Bollinger Band, being respectively @ 51074, 50687 and 50666. SCENARIO B : BULLISH A daily closing above yesterday's closing would be supportive for further upside having in mind a retest of the top zone of February (58000-58350)
BITSTAMP:BTCUSD
by Ironman8848
PLTR: Giving us a Technical Analysis class!Hello traders and investors! Let’s talk about PTR today! We have multiple technical points to discuss here. First, in the 1h chart we have a classic Inverted Head and Shoulders chart pattern, which is usually a reversal sign. The Pivot Point is at $ 30.18. Now, it is doing a pullback to the 21 ema, and we’ll see how it’ll behave from now on. What’s more, we had another classic chart pattern called Island Reversal , which is usually a strong sign, as long as it is not frustrated. Now, let’s see the daily chart: In the daily chart we have a classic candlestick pattern called Morning Star, which is interesting. Every Morning Star is at the same time an Island Reversal pattern in smaller time frames. The volume increased a lot in the past few days, but the problem is that right now the stock just found a resistance at the 21 ema, which can make things difficult for PLTR. In fact, in the daily chart, it barely hit the 21 ema and now it is doing this Dark Cloud Cover candlestick pattern. Let’s proceed carefully on PLTR, as we have bullish and bearish patterns, the question is, which side do you think will prevail? The bulls or the bears? Remember to follow me to keep in touch with my daily analyses on stocks and indices. And if this idea helped you, please, support it ! Thank you very much!
P
by Nathan_The_Finance_Hydra
10
LYNAS RARE EARTH (ASX:LYC) Technical vs Fundamental analysis??LYNAS is a company that has recently come under my radar for a potential trade and upon investigation is becoming a perfect candidate for both Fundamental and Technical traders. For both styles of trading it shows very polarising stories. From a Fundamental perspective there is a long term bullish potential however from a Technical standpoint a short bearish turn seems evident. In the following paper i will outline factors for both trading styles and what potential outcome can occur. From a Technical Standpoint: Bearish Technical Analysis: ---> RSI overbought and has a knack to correct once hits an overvalued RSI --> Bollinger bands above 2 standard deviations away from mean which provides a bearish signal --. ATR is approaching all time highs which have not been met since major reversals --> Bearish Candlestick pattern (Dark Cloud Cover) developed on the 18/2/2021 and is an effective pattern when conjoined with other indicators Bullish Technical Analysis: --> MACD is still bullish but is also a well known lagging indicator and therefore can be misleading --> Increased buy volume can show a positive outlook on LYC's future due to news about increased demand From a Fundamental Standpoint: Bullish Fundamental analysis: --> Minor competitors for market share: Apart from China LYC is the only producer of rare earth resources --> Growing tensions with China can bring increased demand to LYC --> American military suppliers such as Lockheed have been showing increased interest for LYC. --> American US defense invested 30mil for LYC to build a facility within Texas. This is evidence for the deep interest for the business. Bearish Fundamental Analysis: --> Unknown whether LYC can handle an overwhelming amount of demand. Are they prepared for a potential influx of interest? Overall I have come to a simple conclusion. From a short term perspective it LYC is bearish and is due to a minor downturn (2-10%) however within the long run it is evident that if LYC plays its cards right is has a bright future ahead of it. I am leaving my investment strategy as neutral as I would expect a turn either way however I am intrigued to see whether Fundamentals beat Technical analysis. Any thoughts on this will be greatly appreciated :)
ASX:LYC
by Mikey_Scali
2
Gold Mini Futures Put and ultimately Callhi as one of my Indian Friends asked me to analyse the Gold August MINI Future i am doing a simple Fibonacci analysis with some Candle stick pattern confluences. we can see a Dark Cloud Cover candle pattern are the Top and then a Head and Shoulder is on the formation which is a sign of a bearish movement and the retrace can be up to the last support which is fib 50% around 47350 Rs and fib 61.8% or 47000 Rs, If the price can Break the current support at 47800 Rs and as it reaches the retrace (Support) area, we can go for a call option and target it at 50000 Rs and second target at 51200 Rs our safe Stop Loss con be at 45480
MCX:GOLDMQ2020
by BitonGroup
NIO: We all should be aware of this Pivot Point!Hello traders and investors! Let’s study NIO today! As we discussed in my last analysis (link below, if you missed it), the g reen line at $ 43.83 is an important support level , and it is still holding the price. This makes this support quite strong, and as far as I know, the Risk/Reward ratio is usually very good near support levels. We have a new pivot point now, the black line at $ 45.46, and if NIO trades above it, we’ll see something new. It would cancel this Dark Cloud Cover pattern under the 21 ema, and it would defeat the resistance at the 21 ema as well. And the daily chart reinforces this idea: If NIO triggers this pivot point, it will at the same time trade above today’s high, and above the 21 ema in the daily chart as well. Today’s candlestick could be a Harami pattern. So, we have multiple positive signs, and all of them could be triggered if NIO triggers the pivot mentioned in this analysis. This could make NIO defeat the pink line at $ 48.65 and seek the All Time High again . And if this analysis helped you, please, support it ! And follow me to keep in touch with my daily analyses! Thank you very much.
NYSE:NIO
by Nathan_The_Finance_Hydra
8
PLTR: Next challenges and TARGETS! Complete Analysis.Hello traders and investors! Let’s do a complete Multi Time Frame Analysis on Palantir today! Yes, PLTR defeated its first challenge in order to reverse the bearish momentum seen in the hourly chart: It defeated the purple trendline we discussed yesterday. Now, there are still some challenges, and we’ll talk about them here. And if you missed my previous analysis on PLTR, the link to it is below. The next challenge PLTR has to face is this pink line . If PLTR closes above this level, it’ll be another good sign that the trend is ready to resume. The other challenge is the 21 ema , which is flat right now (two days ago it was pointing down, so this is a good sign). If PLTR engages in a bull trend again, the next target would be the All Time High (ATH) again. Let’s see the daily chart: I find it good that the white candlesticks have higher volume than the average. This tells me that there is no real reason to panic here. And as long as this Morning Star keeps valid, PLTR will keep climbing, maybe slowly, but it will. The only thing that could get in PLTR’s way here would be if next week the gap of this Morning Star in the daily chart ( Island Reversal in the hourly chart) gets filled. This would be a sign of weakness of the buyers. So, we would have the bulls and the bears tired, and this would make the stock move erratically for some time. Now, you may be asking what the worst-case scenario for PLTR would be. I rarely use Fibonacci , but I would use it I the weekly chart to see how far it could drop: The $ 18 region is the 61.8% retracement. If we see a real sell-off here, that would be my target for PLTR, using Fibonacci. It looks like we have a Dark Cloud Cover candlestick pattern in the weekly chart as well, but it wasn’t triggered yet. Even if PLTR drops to the $ 18 again, I would see it as an opportunity to buy, because the trend is clearly bullish in the mid-term. Of course, this would be the worst-case scenario, and PLTR must trigger some patterns to make this happen, just like it has some challenges before it can resume the bull trend. The situation is quite complex, but looking at the technical points, I still see no reason to worry about PLTR. And remember to follow me to keep in touch with my daily analyses! And please, support this idea if you find it helpful. Have a great weekend. Thank you very much.
P
by Nathan_The_Finance_Hydra
2
NIO: Key Points to keep an eye on!Hello traders and investors! NIO is dropping today, let’s see what to do next. As we discussed in my last analysis, NIO has a support at the green line ($ 45.28), and now, the 21 ema is there to hold the price as well. The link to my previous analysis is below, as usual. At this point, the price attracts buyers, who are willing to buy near a support level, as the risk/reward ratio is very good right now. Any good bullish candlestick pattern would be amazing, like a Harami pattern. In normal circumstances Haramis have a near-random chance of reversal., but since it is near a support level, the chances of a bullish reversal increase a little bit more. But NIO must not lose this support level, as this movement could make a top in the daily chart: So far, what we have here is a Dark Cloud Cover candlestick pattern, and it doesn’t mean much, but it could be triggered if NIO trades under the green line next week, and if it loses today’s low too. This isn’t a top sign yet, as the hourly chart is still bullish. All we can assume is that NIO just did a pullback in the hourly chart, and now it is ready to resume the trend again. But let’s keep our eyes on the supports mentioned, as if NIO loses them, it’ll seek the 21 ema in the daily chart. The fact is the trend is still bullish, and we must keep our eyes open as it is going to report Earnings next week, and maybe the volatility will increase here. The volume is good, and there are a lot of expectations here, but the Technical Analysis can help us a lot here. And if you like this analysis, please, support it ! And follow me to keep in touch with my daily studies. Have a great Friday 13.
NYSE:NIO
by Nathan_The_Finance_Hydra
18
XPEV: Weekly Outlook and Key Points!Hello traders and investors! I usually do a lot of analyses regarding TSLA and NIO, so how about a XPEV analysis for a change? Let’s see what we can find here. First, the daily chart is looking impressive! We have two open gaps here: One Breakaway Gap , which defeated the black line at $ 23.10 (previous top/resistance), and another gap, which we still don’t know its type. If it is an Exhaustion Gap , it’ll be filled quickly, and probably XPEV will hit the 21 ema in the next few days. If it is a Common or a Runaway Gap , it won’t be filled so soon, and the bull trend will continue. Either way, we’ll have our answer next week. Today’s candlestick could be a Dark Cloud Cover (DCC), and if this pattern is going to be triggered, probably XPEV will do a pullback to the 21 ema, filling the Exhaustion Gap in the process. Now, let’s take a look at the hourly chart: We have 3 gaps in the hourly chart, but I find it very hard to believe XPEV will drop below the $ 20 again. The trend is clearly bullish, but the chart is too stretched, as it didn’t even touch the 21 ema at any moment. There are no signs that the trend will reverse, but a pullback is desirable . I would look for a bearish pivot in the hourly chart or wait to see if the DCC candlestick pattern is going to be triggered in the daily chart. Also, we have two pivot points here: The black line and the red line. I find it very hard for XPEV to defeat the black line now, and I would keep an eye on the red line, because if XPEV loses it, the bull trend will start to look weaker. These are the most important points to keep in mind, and if this idea helped you, please, support it ! And follow me to keep in touch with my daily analyses! Have a great weekend.
NYSE:XPEV
by Nathan_The_Finance_Hydra
3