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Engulfing Candle

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. Please show your support by leaving a like/comment! 👍
BITFINEX:BTCUSDShort
by YurloTrades
13
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!
NYSE:SPCE
by Nathan_The_Finance_Hydra
2
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!
Long
by Brian_Philips
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
Education
by sajadakrami1378
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.
by QM_Dubrovsky
1