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Engulfing Candle

XTZ: These are the most important points to keep in mind!Hello traders and hodlers! Let’s what XTZ is doing today and do a complete Multi Time Frame Analysis (MTFA)! In the hourly chart, Tezos is struggling a lot, as the bears are dominating the crypto. It did lose the purple trendline , which was the first sign the trend was going to get weaker, but now it is doing descending tops and bottoms , a trait of a bear market. Right now, XTZ is doing what it was supposed to do in a bear market: Seeking previous supports . It is very close to the pink line, and the next target would be the blue line around$ 3.21. Beyond this point, there’s the yellow line at $ 3.10. If XTZ closes above the green line, we’ll see some good rection . Let’s see the daily chart: Yes, the situation is bearish for Tezos, as it is still trading under the 21 ema . But the good news is that we have a clear support at the purple trendline, and the red line is another important point. If XTZ closes above this level, it will be a good sign in the daily chart. This is important, because the reaction must start at the hourly chart, by closing above its green line. Then, it might have the strength to close above the red line in the daily chart and do a false breakout from a bearish pivot . All near the support at the trendline. If XTZ is going up, now is the perfect time for a reaction, and we are going to have our answers quickly, in the next few hours/days. Either way, let’s see the weekly chart: Technically, there’s still room for XTZ to drop. It could retest the black line at $ 3.1294, or hit the 21 ema, which is something we don’t see since this bullish engulfing. My opinion: I’m neutral on XTZ, and I’ll only be bullish if we see the reaction mentioned above. I’m skeptical about a further drop to meet its supports at the weekly chart, but I don’t discard this scenario. Therefore, I’m neutral, at least for now. And if this idea helped you, please, support it! And I invite you to follow me to keep in touch with my daily analyses!
COINBASE:XTZUSD
by Nathan_The_Finance_Hydra
14
SPX: Pullback? Maybe. Reversal? No.Hello traders and investors! Ok, so SPX did a new ATH today! This is incredible, right? Let’s see how to proceed from now on. The black line was the ATH before Covid-19 crash. Today, SPX clearly traded above it, but the movement wasn’t strong enough, and now it found its previous support at the purple line (3370). If this purple line doesn’t hold the fall this week, we’ll see a further pullback to the blue line at 3327, meaning SPX could drop around 1.3% in the next few days . But we must wait to see some confirmation , because it seems the support at the purple line is holding the price, for now. But since the trend is still bullish , a pullback would just be opportunity to buy. There’s nothing indicating us that the trend is going to change. Now, the daily chart: Today’s candlestick is pretty bearish, right? A Bearish Engulfing with low volume. In fact, the volume is decreasing lately , just when we are near the ATH. Maybe this is an indicator that the market doesn’t find the current level interesting anymore, and we need to see a pullback to get more stocks at a cheaper price. I never recommend to anyone to short an asset that is clearly in a bull trend, as the R/R ratio is almost never interesting. But when we are near resistances in a bull trend, I see just opportunity to book profits and wait for the next movement. If you ask me, SPX could drop something around 3% and hit the zone of this pink line at 3280 and this would be ok. The trend would still be bullish, and we would have more opportunities to buy stocks for a cheaper price. And please, support this idea if you found it interesting! And you are invited to follow me for more analyses! I just write a few per day, so, I wont bug you too much. Right now, I think is just the moment to manage positions. Not the right time to buy, neither to short. Yes, SPX could drop 3% in the next days, but we still don't have the confirmation of a pullback yet, so, be careful! Recent public trades (links below): XP: +30% AAPL: +10% LB: +45% UKOIL: +62% Congratulations to all of you, my dear subs, who believed in my trading methodology, and challenged the world by being a bull! We deserve to celebrate! BECOME A MEMBER! Remember to follow me , I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
SP:SPX
by Nathan_The_Finance_Hydra
6
New USDCAD bottomsWhile major pairs are still consolidating, USDCAD is making new lows. Here things seem extremely clear. - we have a downward trend of D1 - we have a downward trend of H4 - we have a downward trend of H1 - break of support - engulfing candle of H4 We expect the movement to continue towards the following supports: 1.3144 1.3107 Watch for a break in the trendlines and for initial depletion signals. To support us, please like and comment. Everything else is in the signature section!
Short
by ForexTrendline
2
AUDJPY best time to BUY? Reasons : In AUD/JPY price protected by serveral important factors which: 1. As you can see , price react to EMA 22 very well, EMA 22 currently price: 1.7100 2. This Pair Price protected from bears by very important static support ( this support was a resistance , when it breaks turn in to support ) :1.7060 3. Our Trade Stoploss protected by nice trend line ( DYNAMIC support ) near static support. 4. After hanging man candel stick , we saw a full engulfing candel but bulls use any chance to buy at our setup entry price ! it means there is a great DEMAND area! 1:2 RR
Long
by FOXofFX
2
USDJPY - Next MoveLooking into the higher time frames we can see that we broke the bullish flag formed and are now sitting around the key level of 105.500 waiting for the markets next move. The last daily candle closure was a bullish engulfing candlestick suggesting price may want to continue up into the key structure marked after making a slight pullback. If we don’t see this and price wants to break the 105.500 level, our long term target will be 101.500 depending on how the DXY performs. Our most recent COT data source is showing a 59.2% of commercial players are long on this pair.
by AlkalineFX