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Engulfing Candle

ETH - May the BULLS be with us!Okay, so ETH did a classical bullish sign to us, a bullish engulf near a strong support area, made of 1 - the 21 ema; 2 - the purple trendline; and 3 - near the black line (previous top). Our last trade here was a very good one, we long at that “Harami cross” in the chart all the way to the 61.8% fib retracement, the links about this trade are all bellow. Also, I invite you to follow me to keep in touch with our trades and analyzes. Now let’s see the hourly chart: Here we find a reading similar to the daily chart, and I’ll stress how important will be for the bulls if they manage to keep the price above that blue line, which is the fib retracement. There’re some supports here, like the green line, the pink line, the black line, and finally, the purple trendline. Now, the weekly chart: As I’ve been saying, yes it bugs me a little that the price is near a fib retracement, but we can’t discard a “V” pattern here. The bulls seems to be very strong, and the trend will continue until a clear reversal sign occur (as Charles Dow used to say). Meanwhile, we are long here. 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. *
COINBASE:ETHUSD
by Nathan_The_Finance_Hydra
XRP - About to PULL the TRIGGER.Ok, so the price found a support in the 21 ema and the purple trendline, which is great for the bulls, and now it seems it is doing a bullish engulf, like some other cryptos are doing. Let’s see if this pattern will be triggered tomorrow, if so, it’s a long, the target could be the pink trendline or the 61.8% fib retracement. Let’s look the hourly chart for more information: It would be very good if the price close above that blue line, but I don’t know if that’s going to happen. Now let’s see the weekly chart: It’s near the 21 ema, which could be a resistance too, but I find this volume increase very interesting. I wonder what caused that sudden raise. 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. *
BITSTAMP:XRPUSD
by Nathan_The_Finance_Hydra
3
Are the BULLS going to SHOW UP? (again)Hello guys! Now ETH is starting to get interesting again. Its been a few days since ETH entered on the “Sleep Mode”, which is normal after the last bullish move it did. We managed to catch that last move , we were long from U$ 175 to the 61.8% fib retracement, our main target. If you missed, I’ll post the links of my previous analysis below, and remember to follow me to keep updated of our trades. For now, what I can say is that ETH may do a Bullish Engulf , after it touched the purple trendline, near the 21 ema. A bullish sign, that would be even better if the price closed above the U$ 214 today or tomorrow. It’s important to surpass that fib retracement. Now, we calmly wait for the pattern to confirm. You can buy today, in the last minutes of the candle (if in fact, is a Bullish Engulf), or you can wait for even more confirmation, and buy if tomorrow the price will go higher than today’s high. Personally, I like to wait for the confirmation in the next day. We can look at the hourly chart to see if there’s more: If I was a day trader that Piercing Line would've done my day. It went to the “support zone” and close above the black line, which is an important support here. Also, here we can see how important is for ETH to close above blue line (61.8% fib), because it would be the start of a bullish trend in the hourly chart too. Now, let’s look at the weekly chart: I confess that the fact we are near a fib retracement still bugs me a little, but I’ll do my best to follow the trend. Maybe we will see a V pattern in the weekly chart, I don’t know. Either way, the cards are given. 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. *
COINBASE:ETHUSD
by Nathan_The_Finance_Hydra
5
TCEHY - A view of an old school trader.As another request, I’ll do an analysis of TCEHY today. Well, we can say that Tencent is doing what was expected to do, after it hit the “resistance zone” is now dropping and it seems it find a bottom at the light blue line in the chart, which is the previous top zone. TCEHY is doing some very precise and technical moves here, and now it did a bullish pattern, a downside tasuki gap, maybe? Or bullish engulf? Don’t know, and don’t matter really. Just be aware, because if it loses this light blue line the stock may face some trouble. Let’s see the hourly chart for some clues: The price lost an upward trendline (blue line), and it’s in a support zone, as it is in the daily chart. The rule here is the same, if it loses that blue line, expect it will seek for the lowers supports. Look at the daily chart again, these supports may be the thin pink line or even that thick red line. Personally, I think there’re more interesting stuff to trade right now, but if you want to buy Tencent, you can, but be aware of the low volume today and most important, the “resistance zone”. Trade well my friends and be safe. 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. *
OTC:TCEHY
by Nathan_The_Finance_Hydra
Possible Double TopHey Guys just an IDEA. So seeing a bit of a rejection at the resistance zone again, possibility of a double top happening. It broke out of two trend lines and now its retesting a zone. So lets see how the 1 hour and 4 hour candles close. On the 1 hour it kinda closed with a big shadow/bearish engulfing candle stick but went back up. Might be forming a double top on the 1 hour chart as well. If it breaks to the top we could enter a buy trade once it retests or if the price doesn't break we can see a double top on the 1 hour chart and enter possible sell trades. Lets see how it plays out. Happy trading.
by Treazure