Engulfing Candle
Bitcoin Ramping up for 7.7k retest. Many Bearish Signs!!! Hello guys. Bitcoin has displayed many bearish signs.
Firstly Bitcoin has broken out of its daily Ascending triangle downwards. This means that it will likely hit a target of 7.8k (Green zone).
Bitcoin has also closed below the Daily EMA ribbon. Every time this happens it indicates that the daily trend has ended, And that we are about to go much lower. We are able to see this in previous history(Highlited by Green circles). Its likely that Bitcoin might retest the EMA ribbon. This might be a good place to place a short position if you havent already.
Remember guys there is a CME gap at 7.7k
Historically these fill, So Bitcoin might go back down to this zone to fill it.
On the weekly time frame there is a Bearish RSI divergence and a Bearish Engulfing candle. We are able to see this here:
These two signs indicate a reversal in the trend on the weekly time frame.
Bitcoin Weekly Bearish Signals. Likely to go lower
Today I will show some weekly Analysis which is showing many Bearish signals.
Firstly the RSI has a weekly bearish Divergence. This is a bearish indicator as we are likely to move lower. (Marked by purple arrows )
Secondly There is a bearish engulfing candle which indicates bearish momentum (Indicated by green arrow), you can find more about the pattern here: www.investopedia.com
GBPJPY Rally point for tomorrow As u can see in the chart and my analysis, price was already at the strong key level for reversal. To make my analysis more strong the D1 chart also have form the perfect bullish engulfing as a alert before price make a rally. Goodluck guys and happy trade. Kjndly text me on my personal telegram account to join my channel for signal.
t.me/hanzafiq
GBP/USD breaking the short term uptrend?GBP/USD has been in a downtrend for a few weeks, but recently, it showed signs of strength, with a short term uptrend that was following the uptrend line in the chart.
We had a strong red candle breaking through the uptrend line, so I believe that there is a concrete chance to trade this market with a short position.
Setup of moving averages is a bit unclear, so I enter this trade with a slightly lower risk.
OCFC: bearish engulfing patternHello traders!
- Price broke out from the range, but then it came back
- Price tested again the resistance
- BEARISH ENGULFING PATTERN
- MACD is bearish
In this situation, I believe that the price has good chances to go down towards the previous support.
Remember to put a stop loss in order to secure your capital!
Not a financial advice.
Enjoy your trade!
USD/SEK: engulfing pattern Hello traders!
- NEW SUPPORT was formed
- BULLISH ENGULFING PATTERN appeared on the 11st of June
- MACD reversal
TARGET can be set in proximity of the 3 Fibonacci Levels, drawn thanks to FIBONACCI EXTENSIONS TOOL.
Please, notice that the 61.8 FIBONACCI LEVEL coincides with the RESISTANCE
Remember to put a stop loss in order to secure your capital!
Not a financial advice.
Enjoy your trade!
USD/CZK: LONG SIGNALSHello traders!
USD/CZK seems having reached a good support after a long downtrend!
- BULLISH ENGULFING PATTERN appeared on the 11st of June
- BEARISH MOMENTUM looks always weaker
- MACD LINE is really closed to cross the SIGNAL LINE
Remember to put a stop loss in order to secure your capital!
Not a financial advice.
Enjoy your trade!
EURCHF daily 0.618 and 4hr bullish engulfing combination longThe EURUSD short yesterday went so well.
Meanwhile, USDCHF was still very weak as the stock market slumped yesterday, making EURCHF had a significant pullback to 0.618.
It rallied a lot after consolidating in weekly 0.618 spot, and now it pulled back to the 0.618 of the current rally.
I'll be interested in this 4hr engulfing long.
Let's see how it goes yo!
EUR/GBP- 4 Hour overviewHello everybody!
-On a 4-hour chart, we can see that the price reached a resistance area, and then the price formed a very nice double top pattern.
-We can see that the price is forming bearish engulfing right now and that is a strong reversal signal.
-On a Stochastic indicator, we can see that the price is in an overbought condition so we may expect some bearish power to take control over this pair.
-On a 4-hour base, EUR is the weakest currency at this moment and GBP is in a pretty solid condition while on a 8-hour base, GBP is a little bit weaker than USD.
-If EUR remains weaker than GBP then we can expect that the price is going to continue moving in a bearish direction.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
Bearish Engulfing Pattern | AUDUSDThe Bearish Engulfing pattern consists of two candles. First one is a small upward candle followed by large bearish candle. The bearish candle must absorbs completely the previous one formed during the uptrend. The bearish candle is not required to cover the shadows of bullish candle.
Requirements for validity:
1. Market in uptrend;
2. Small bullish candle;
3. Second one is large and bearish that compleately cover the bullishcandle.
Tips:
These are standard trading rules. There are many more specifics about order placement that I will reveal in the next posts!
1. Do not trade by candlestick analysis only!
2. Always do combine at least two or more analysis!
3. For example:
- trend analysis (always works);
- support & resistance analysis;
- Fibonacci.
4. Follow us for more tips and analysis!
Recommendations:
Confirmation in the form of a downward candle with a closing price lower than the previous one or a downward gap is recommended, to be sure that the trend is reversing!