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Engulfingbearish

BTCUSDT pullback to triangle trendlineThere's no reason for bullish bias. The price action shows an engulfing bearish after a pullback to triangle upper trendline, healthy 30% retrace and retest. Supports broken. Price below daily volume point of control -rejected from POC. Expecting lower lows aiming 14.6% as seen on chart. 17K is possible in a next swing downward. Plus hidden bearish sign from Chaikin Oscillator. Fibonacci retracement applied w/ 88.6% and 14.6% key levels. Bearish 2-D swing to complete the major Head and Shoulders correction @ all retracement expected.
Short
by firmestudio
6
GBP/USD Daily Bearish Engulfing playOn the daily today it looks like we are going to close as a bearish engulfing, of course this is a retail pattern none the less I'm looking to trade it... First of if you drag a fib from high to low we get 61.8% fib confluence around 1.33071 which is also where a naked level is, perfect location for my order to be left. In this area there is also 50 ema which is another confluence I use to trade so they all seem to be stacking up in this area. Lastly ATR will be moving at market rollover this evening which should be within my stop for a extra bit of security... My stop is beyond the high of the engulfing Tp at D1 swing below market also around -27.2% fib If price creates structure around 1.32874 ill be looking for a break and retest of this to play for the failure of the engulfing Lmk what you think of this, this is the first idea I've ever posted lol
Short
by broberts28