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Dragonfly

SWING IDEA - ASIAN PAINTSAsian Paints , one of India's largest paint companies, is showing promising technical signals for a potential swing trade. Reasons are listed below: 3000 Zone as Previous Resistance : The 3000 level was a significant resistance zone that the price has now broken and retested, indicating a strong bullish sentiment. Dragonfly Doji on Daily Timeframe : The formation of a dragonfly doji on the daily chart suggests a potential reversal to the upside after testing support, reflecting strong buying interest at lower levels. 50 and 200 EMA Support on Daily Timeframe : The stock is trading above both the 50 and 200-day exponential moving averages, which serve as strong support levels, reinforcing the bullish outlook. Break of 6-Month Consolidation : The stock has broken out of a 6-month consolidation phase, signaling the potential for a new uptrend and increased momentum. Bounce Back from Golden Zone : The stock has bounced back from the golden Fibonacci retracement zone (0.618 level), which often acts as a strong support and suggests a continuation of the uptrend. Target - 3185 // 3420 Stoploss - daily close below 2950 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:ASIANPAINTLong
by Visionary_Growth_Insights
PYPL bullish Signal: Dragonfly Doji + CCI DivergencePYPL is currently on a downtrend, but there are multiple signs that the current trend might reverse. Price is falling while the Commodity Channel Index is rising - this is a very obvious divergence ... and an indication of a potential trend reversal. Taking a closer look at CCI and Price, we also see hidden divergence a couple of days ago (lower lows vs higher lows). During the latest divergence, we spot an interesting candle chart pattern: a Doji. Dojis are usually indicating indecision - in this case the long-legged Doji almost looks like a Dragonfly Doji. In combination with a divergence, this can be seen as a rejection of lower prices and as a bullish signal. The current monthly Pivot has not yet been touched, so the price might rise to this Pivot point at 245.97 . Interestingly, a few days ago, on October 12th, we had an almost identical setup: (minor) downtrend, bullish divergence, Doji, untouched pivot. The candle following the Doji was still red but the price went up to the monthly pivot.
NASDAQ:PYPLLong
by TradingClue
2
Bitcoin on a (relatively) long-term move upwards?Does bitcoin look to be moving upwards on a longer term trajectory? Looking from a daily view (1 day bars), the short term SMA moved above the longer term EMA near the beginning of April (08 Apr 20), and seems to have established itself there for the past approx. 4 weeks. Additionally, drawing trends on the highs and lows from the lead up to the move of the SMA above the EMA from 01 April (admittedly an arbitrary point but as good as any other) to when the daily movement slowed down and temporarily peaked (05 April) shows that from the first day onwards following on from the day there was a last major daily movement (29 April), the trend is remarkably following the trend upwards from 01 to 05 April. Finally following on from that possibly important day of the last major move (29 April), the first bottom/trough had a dragonfly bar indicating subsequent moves upwards - which have happened. A large negative however is that the RSI has remained above 70% consistently over the past few days and thus would indicate a move downwards at some point. However, with the way the RSI is calculated, a downwards moving RSI does not strictly translate to a long term price trend downwards. Thus, we have: 1. Short term SMA consistently staying higher than the longer term EMA 2. Price movements closely following trend lines (that are not wedging or indicating a movement down) 3. A dragonfly at the most recent bottom/trough indicating a movement upwards and subsequently validated over the past few days. The assumptions underlying the above, and which could always be wrong are: 1. The trend lines are correct particularly from their origin (why pick 01 April? Are there better trend lines indicating the opposite?) 2. The dragonfly has been identified correctly and is actually meaningful If the movement and pattern has been identified correctly, then the first barrier of resistance, and also perhaps the optimum sell point would be around 10k USD, the approx. high from approx. the past 6 months. Alternatively, an exit would be when the SMA crosses the EMA downwards, or when there is a daily close and open below the EMA line. Generally, there's always unsureness (that's a cromulent word and the reader knows what it means so I prefer it over "doubt" :-) ) if this or any BTC movement is a true movement upwards. I'm still not convinced that BTC actually has patterns or that any trading strategy can be applied to BTC as the movements are to random, and the variables too great, without any market fundamentals (like stocks) to make any rational calculation. Thus, feedback on everything mentioned above is more than welcome (except on the word "unsureness" :-) ) Additionally, anyone have any suggestions for BTC exchanges that offer stop losses as part of their standard account (not a paid for subscription or as a CFD/leveraged trading account)? Exchanges such as Coinbase and CEX.io do not, and I'd be grateful for any suggestions.
BLong
by slip_stream
EURUSD - Breakout and Retest Successful - Moving UpwardsHi Traders! The market was in a downtrend in the last weeks. It was moving in a parallel channel with some fake breakouts. Furthermore, the price was under the 50 period moving average until now. The market broke out of the parallel channel and retested it 7 bars later. Our retest-candle is a dragonfly-doji which means bullish strength. Now it could possibly move further up. We recommend to buy the breakout with a risk-to-reward ratio of 1 to 3! Thanks and good luck :)!
Long
by swissmoneymakers
Will Past Resistance Become Future Support?This idea is based on some historical analysis of previous top patterns in addition to some Elliott Wave analysis. One of the things to note is that every major high and subsequent deep correction that has occurred since the 2017 high has exhibited 1) a high, 2) a rapid drop or dragonfly candle that quickly gets bought up, and 3) a subsequent lower high. Only on one occasion was the subsequent high slightly higher than the first high. These highs + lower highs, split by rapid drops or dragonfly candles are circled in blue. So it appears, historically speaking, that these types of patterns are good predictors of top formations and subsequent deep corrections. Further, the Elliott Wave analysis shows a structure that is already quite extended in the 5th wave, also suggesting a correction is due. And assuming the bear market is over, and the low is in, this entire EW structure could represent a broader wave 1 which usually correct quite deeply, to fib. 0.618 or more. One of the reasons that I think we may correct deeper than fib. 0.618 is that there have been no tests of the area between previous strong resistance (the top of subwave 1 of the Elliott Wave structure around $4.4k) and the $8.4k region high. And one of the rules of TA in healthy markets is that previous resistance becomes subsequent support. That hasn’t happened yet. The $4.4k region was an area of strong resistance which we have yet to test and transform into a strong support, upon which to base a subsequent healthy bull trend. There are also a couple of trend lines. The lower one in thicker green is the trend line for the $3.2k low and the subsequent $3.4k higher low. The second trend line in lighter green uses just the $3.4k low and the last low before the start of the parabolic price movement in the $4k region. The target price area lies between these two trend lines. The ABC correction depicted has two targets. The first is the end of the A leg in the mid $5k’s. This is likely to get bought up quickly resulting in a bull trap B leg which is common of ABC corrections retracing to fib. 0.5 or 0.618 of the A leg. Followed by the C leg of the ABC correction down to the mid $4k’s or lower. Final Target: $4k-$5k
BITFINEX:BTCUSDShort
by dalmazio
1
Bitcoin Daily Update (day 336)Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business. Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process | Click here to learn about the 2 BTC' to 20 BTC' Trading Challenge Consensio: S EMA < M EMA > P > L EMA Patterns: Phase 7 Hyperwave | A&E | Bear Channel Horizontals: S: $3,729 | R: $3,823 Trendline: Parabolic SAR: W: $4,230 | D: $4,180 Futures Curve: Backwardation Candlestick Analysis: Dragonfly doji Funding Rates: Longs receive 0.027% BTCUSDSHORTS: Broke down horizontal support but appears to be finding support from daily R9 TD’ Sequential: G1 Ichimoku Cloud:. Bullish TK Cross | Bullish Kumo Twist | Today’s selloff found support at the top of the cloud, and closed above Kijun-Sen - very interesting! Relative Strength Index: Amazing how quickly it can go from overbought to middle of the range. Supporting above 50 is very interesting! Average Directional Index: ADX continues to trend with +DI > -DI (although they are converging) Price Action: 24h: -0.2% | 14d: +5.6% | 1m: +11% Bollinger Bands: Is bullish, selloff closed above MA - very interesting! Stochastic Oscillator: Is trying to make bullish crossover on daily. Weekly bullish was confirmed by breaking above 20. Summary: I cannot remember the last time when the price of Bitcoin has been this interesting. It has me so close to opening a trade in either direction. In day 335 I said I would be looking to go long if we breakthrough $3,922 and said I would be ready to change my disposition if price remained below the 4 & 9 EMA’s while getting a bearish cross and broke the daily Parabolic SAR. This is a great example of fickle trading can and should be. This is also a great example of why to wait for the candle to close. Today the price broke the daily SAR and got a bearish cross with the 4 & 9 EMA’s with the price below and I entered a stop order to long BTCM19 at $3,802 with a stop at $3,574. After that sharp selloff occurred we quickly rebounded and made a very bullish close with a dragonfly doji above very important areas (50 EMA, Kijun-Sen, and Bollinger Band MA). That was very bullish as far as I am concerned and wreaks of a shakeout before a breakout. If am wrong then hopefully my stop order will not trigger. If I am right then I expect price to blow right through that area which is exactly when / where I like placing stop market orders on high liquidity exchanges. Under the ‘trendline’ line item above there is a chart that I am watching closely. If we can breakthrough the top of that bear channel then I will be calling for $5,800. If we can’t then I will be calling for a return to Phase 1 ($1,160) by Q2 2019.
BITSTAMP:BTCUSDLong
by Sawcruhteez
4
IWM: Path of least resistance is upDear all, it should be evident from IWMs recent price action that this level and pressure of selling is not consistent at all. She is way oversold and ripe for an upward bounce please see verbiage in the chart to see exactly why. While I would not be surprised to see sideways consolidation or potentially even a new bottom (not likely) it should be clear the path of least resistance is up. Based on the horizontal volume profile (represents levels of volume at any given price range) IWM should levitate towards the upper 160s at least but I do not have a specific price point at this time. Thanks for reading please leave questions and comments below.
AMEX:IWMLong
by TNasr
GBP/AUD Short Setup GBP/AUD could see a bearish reversal as price seems to have rejected the daily resistance level of 1.8185 and as a result forming a dragonfly doji on the H4. Along with the early hours of today where price failed to break this key area of resistance yet again. There is bearish RSI divergence occurring on the H4 which suggests the strong bullish momentum could be coming to an end as it may not be sustainable. Even if you consider this bearish move as a retracement, looking at the previous correction that took place around the start of September, price went to the 50% fibonacci level and consisted of around 220 pips. Therefore in this situation aiming for the same fibonacci level would give us around 160 pips minimum to the downside. 160 pips target with 80 pips stop, 2:1 risk/reward.
Short
by Shivam_93
BTC forming Tweezer tops?On a 4 hour chart we can see Bulls losing steem. First a dragonfly doji candlestick formed which represents big amount of bearishness. Few hours later a Tweezer tops formation can be seen. If BTC closes like that, we could see another fall to the new lower lows (5400-5700) as third Elliot downtrend wave will start forming (usually the nastiest one). Other indicators are RSI where we can see lower highs and MACD where bearish divergency started forming. We would need to see huge rally to 7600-7700 range to start changing market trend, but at this very moment that seems far away. What do you think?
Short
by zoxparty
1
BITCOIN: TIME TO SURGEHere’s a daily BTC chart. As you can see, i draw two big boxes, a red one and a green one. They represent where the direction towards which BTC should go and should NOT go in order to have a bullish/bearish market. In other words, the moment BTC breaks the red box, we can be sure that we are in a BULLISH market, if it goes below the green box, we are still in a BEARISH one. All the sideways movements inside the two boxes cannot tell us in which market we are. Even strong bullish signals could just be FAKE. Today BTC is forming a DRAGONFLY DOJI/HAMMER, both are strong bullish signals. But, of course, we need a confirmation in the next 1-2 candles. The blue line is a convergence line, and the green lines are possible targets in case of an uptrend. Generally, BB, CCI and RSI pattern can confirm that an uptrend CAN happen. In this case, we will see a crossing in the MACD pattern. Trade with your brain Brainsignals Team
by Brainsignals
Dollars And Sense! This Title Works $Many people wanting to know whats happening with bitcoin at the moment. The information I provide you below will give you the answers that you are looking for, not everything can be told until we see certain movements and thats what you will find out below. Many people have been asking.... yesterday we closed on a dragonfly Doji..... No we did not close on a dragonfly, is the answer. A dragonfly doji is a candle that closes at the same price as the day before, you will see the candle with the long shadow below above the red arrow on the screen. This is not a textbook dragonfly doji and does not display a trend reversal. If you close on a dragonfly doji it is one of the strongest bullish signals for trend reversals but this is not what we have here. However what the candle does show is some very aggressive buying and we also closed above the 200EMA this is a bullish signal and is now providing us some support. If we are going to see an upward movement for tomorrow we must close above the black line on the chart which is currently causing us some strong resistance but if we close above it this becomes our support and money will pour back into the market. Please see the volume with red arrow, volume isn't supporting an upward motion, its showing us we have been at a loss of volume for quite some time. This is correct as the overall strength of crypto is dropping crytpo market is in a downward trend. This has to break for the market to return. BTC Dropping to 6K will bring money back to the market and improve conditions for the rest of the year this is the result I am hoping for. We must close over the .618fib (black line) on the chart to give us a bullish signal for the coming days, if not we may bounce off the 200EMA for a few days but if volume indicator and RSI don't increase then we will break the 200EMA and end up heading back down. My thoughts are further downward motion as volume doesn't support an upward movement, we have no momentum. I hope this brings some clarity to the current position of BTC, join me for further updates once the daily candle closes.
BITFINEX:BTCUSD
by DollarsAndSense
5
Bitcoin chart is bearish?According to candlestick charting criteria, we could determine a few signs of bearish implication (reversal patterns): 1. Hanging man candlestick (could be interpreted as dragonfly doji) 2. Shooting star 3. Double top as a strong reversal pattern (blue dotted line) And an additional bearish sign: 4. A decrease in price volume These are enough signs for pattern reversal but, bear in mind, candlestick charting technique cannot say how long will reversal trend lasting. Finally, this is not financial advice. Remember to always do your research before investing.
BITFINEX:BTCUSD
by Dinore