Engulfing Candle
BTC medium term bullish close POSSIBILITY28 hours to the close of the weekly candle
If we manage to close at 34700 (higher - 35700 would be even better) then we´ll have first bullish engulfing in this correction - pretty good sign
Would love to see RSI crossing the 50 level, MC green dot and of course Hash Ribbon, though.
Entry - at weekly candle close
SL - just under the candle body
TP - on your criteria (maybe 45000)
DISCLAIMER: not a financial advice, just my own perspective of the market
CHGG WeeklyNYSE:CHGG weekly is ready to continue its uptrend. Last week gave a very bullish outside engulfing bar right as the 5 EMA crossed the 20 EMA. It is a very strategic spot and it is aligned with the MACD crossing up as well.
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
BEARISH ENGULFING CANDLE CONFIRMED (1+1=SELL) BTCHello traders,
Here's the fully developed technical analysis I've put together after the last 36 hours of going sideways in the overbought zone.
Stoch rsi (momentum oscillator) is finally starting to point down after confirming a bearish engulfing candle on the 3 hour timeframe.
3 doji's with the most recent candle looking ready to increase sell pressure at any given time.
Some time's you need to remain patient as price action develops and wait for the right things you'd like to see for conditions to be met.
Asia likely destroys the market tonight, wouldn't want to be in any leveraged longs as 25x longs will likely be targeted next.
Like previously stated in my last few technical analysis, the liquidity is now down.
Elon, Jack, and Cathie's discussion lured traders into buying higher and now big money's bags have been filled and liquidations will be coming for bulls soon.
36 hours in the overbought condition going sideways will be interesting to see how hard it comes back down.
Downtrend has 3 validation touches now and uptrend only has 2, bulls need to show strength around $30,888 or else we likely head back down to retest $30,000.
Stay safe fam.
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Buy high, well higher in secure range The market ke in the sideways trend or secure range. The price travels between two strong support and resistance line.
Now, in the daily chart, we found engulfing pattern, and the price rise until the middle of the range. So the price will continue the movement until fake breakout.
Potential BTC short- Bearish engulfing with pinbar at 1h, 2h and 3h timeframes
- at strong resistance level
- at VPVR level
- Market Cipher bearish red dot with purple diamond at 2h TF
- RSI returning from the OB condition
Entry: at the 3h candle close
SL: 32300
TP: upon your criteria (careful with 31100 support in case we´re in short term bullish trend)
DISCLAIMER: not a financial advice, just my own perspective
EURUSD Long scalp tradeI was checking situation on EURUSD and after few hours on third hit symmetry price created beutiful bullish engulfing signal it's 1:1 trade so i decided to jump into long position
GBPJPY July 20 Bullish divergence on 30 min indicating reversal/pullback.
Price made Engulfing on 30 min confirming reversal/indication.
SPCE: Time to buy now?Hello traders and investors! Let’s take a look at SPCE again! Is it finally interesting now? Well, we’ll see.
SPCE is still in a bear trend, and there’s not a single reversal sign around. We can assume SPCE is just bouncing back to its 21 ema, before it drops again.
However, I agree that the recent candlesticks are looking interesting, and it gets better if we look at the daily chart:
Despite the lack of bullish structure in the 1h chart, we have a good candlestick pattern here, which looks like a Bullish Engulfing , just above the support level made by the 61.8% Fibonacci’s Retracement.
The 50% retracement didn’t hold the price as I thought in my previous analysis, but the 61.8% is as good as any retracement. The volume is good too, and this could be a buy sign.
The problem: It is a very risky buy, as we have no solid bullish structure around, and just one candlestick pattern might be not enough. What’s more, the volatility is quite high, SPCE should decrease it a little bit more, and a sideways movement f or the next weeks is something we can imagine. Moments like this brings a lot of stress, as we see many erratic movements.
To sum up, if I had to do anything on SPCE, I would buy, as the Risk/Reward ratio favors long trades. Nevertheless, since I have option to stay out of this, I rather prefer to trade other stocks, outside of people’s radar, which are much more interesting than SPCE.
Remember to follow me to keep in touch with my daily updates, and support this idea if you liked it!
Thank you very much!
BTC/USDT buy signalthe bitcoin is in bearish price channel
and now is in the strong support zone
it also forms the head and shoulders pattern
we can take long position in it
and take loss limit below the support zone
and take profit in the top line of the channel
or save profit in it and move your stop loss
in previous ceiling.
NZDUSD Good opportunity to buy!Based on the chart, a strong bullish movement have happened recently and it seems a correction finished. So based on the support and resistance area and the market movement(A bullish Engulfing Candle), we can consider a good bullish movement for following hours.
So I opened a buy position with a good risk reward ratio which can be about 1:4.5
Note: As always please take risk management rules into consideration before opening any position on the market.
Good Luck!
EURJPY - Bearish EngulfingA bearish engulfing happens on the Friday close. On the daily chart, there is an Emerging Bullish Gartley Pattern and on the 4-hourly chart, there is an Emerging Crab Pattern that complete in the proximity of the Gartley Pattern.
I'm waiting for a shorting opportunity at about 9am tomorrow and hopefully, there is a double top with RSI Divergence to support my trade.
How to use Candlestick Patterns ..Hello Traders , Have a nice weekend.
it's good to learn something even if you knew it before,Seriously some of you know all these patterns but don't know how to use them.
First we have to draw our support and resistance area in higher time frames , then we switch to lower time frames to see a candlestick pattern and now you can enter the trade after a little price rest to have a better RR ratio guys.
Good Luck on that , As easy as you see
USD/JPY Dominant Uptrend at Risk, Where to From Here?USD/JPY put in a convincing break under rising support from the beginning of this year, opening the door to a lasting turn lower.
This also followed the emergence of a Bearish Engulfing candlestick, further compounding the argument to the downside.
Now, the 23.6% Fibonacci extension is sitting below as key support at 109.51. Breaking under would expose the 100-day Simple Moving Average which could reinstate the dominant focus to the upside.
Still, there could be room for even more prominent losses until the pair touches the 200-day SMA. At that point, the pair could open the door to resuming gains.
CALX Death StarNYSE:CALX gave one of my favorite bars today which I like to call a Death Star. It is an outside bearish engulfing bar that tried (and failed) to make a new high. It is one of the worst bars you can see at the top of a chart.
This one also broke out of the top of the triangle (and failed) and then broke the bottom of the triangle and closed under the trendline all in one day.
It's going to take a Jedi to save this chart.
