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Engulfing Candle

OFF TO THE RACES - Hope you bought this dipHey there, support this idea with your likes please and make sure to follow me here on TV! Classical ascending triangle on Bitcoin as the most trustable reversal pattern in my opinion. I would now expect a consolidation here between 6k and 7k befor moving higher to 8k+. If we really manage to get to 8k this week, then this will the an amazing reversal engulfing candle on the weekly. Until then, while it is still possible to reverse and move lower, especially short term, I think the low is in with 95% certainty. Accumulating down here is the thing to to people. Even if we move sideways for multiiple weeks and months like we did back in 2014/15, the time to buy is now, when everyone is panic selling and fear is great. Take a look at the Bitcoin-fear-and-greed-index. ALL TIME LOWS Cheers, Konrad
COINBASE:BTCUSDLong
by EnlightenedTrading
Water is 2020's winner so farThe 3 leaders YTD have been (in order): Utilities, Healthcare, Staples; which happen to be the 3 most defensive sectors, who tend to outperform during a recession... Inside the utilities sector, the Water industry is the leader. CWCO has a beautiful looking chart, setting a strong support after making a double-bottom, which immediately after, made a bullish engulfing candle. It is interesting to note, that the volume on this 2-day event; was almost identical. Meaning the amount of buyers was larger than the seller side.
NASDAQ:CWCOLong
by dorfmanmaster
1
S&P 500 Bearish Engulfing+2 Following Shooting StarA closer look at the month of February shows that we had a bearish engulfing candle + 2. A bearish engulfing candle is one where the high of the candle and low of the candle completely engulfs the previous candles high and low(shown with blue lines) and indicates a potential reversal to the downside. The +2 indicates that the bearish engulfing candle not only engulfed the previous candle, but also engulfed the two candles before the preceding candle as well. February’s low was .10c above October 2019’s low which kept this from becoming a bearish engulfing +3. While this bearish engulfing candle on its own is bearish, a trend reversal isn’t confirmed until/unless we see a price move lower on the following candle(March 2020). If March price moves and closes lower than February’s low it can be viewed as a trend reversal and end of the 10-year bull market rally. February’s bearish engulfing candle comes on the heels of a shooting star candle created in January of 2020. A shooting star candle is a bearish candlestick with a long upper wick with little or no lower wick. Shooting stars appear after an uptrend in price. The distance between the highest price of the candle(top of the upper wick) and opening price(top of the candle body) must be twice the distance of the candle’s body to be considered a shooting star; the upper wick must be twice the length of the candle body. Shooting star candles are most effective when they occur after a series of three or more consecutive rising candles, which this chart shows. We now have two bearish candles on the chart with last months shooting star and this months bearish engulfing, both of which indicate that a top in price has likely been made.
SP:SPXShort
by PrepForProfit
BTC- Go lower in order to bounce higherHello traders! Despite the 100 millions long liquidation and the drop of 10% open interest during the epic bull trap last week, the maximum selling pressure still seems far away. The only way to go up is to dip down further in order to reach for more selling liquidity. I believe we will continue to see more moderate supply runs follow by weak demand runs until strong limit sell orders and sell walls show up with the conviction. Of course, not completely ruling out the possibility of the bull flag momentum run yet. Though unlikely judging by the weak daily buy volume. Please click like and follow me if you find my analysis useful. Happy trading :) Please do your own due diligence and research. My analysis is only my opinion, not the investment advice. twitter.com
BITMEX:BTCUSD.PShort
by Libratus
1
GBPNZD SUPPORTThis is a good example of using support to your advantage when trading. If you look at the two highlighted areas at support price created bullish engulfing candles. It was a matter of time before price was going to take off. Finally price slow down giving some consolidation this could be a potential entry for a buy. Been able to secured an overall of 160 pips with only risking 30 pips. This is just an example of how you can support or resistance and candlestick structures when you maybe unsure about a trade.
Education
by pliger4