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Engulfing Candle

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
LTCBTC trendreversalWelcome fellow tradingviewers, For the ones following me for a longer period of time we have mentioned a possible trendreversal on LTCBTC a couple of times. After our last analyses we had a small fakeout to the downside with the miners capitulation sending the prices into one last dark hole. Since then prices have returned to the mean and we are now getting even better signals. So lets jump straight into analyzing shal we? Monthly : - A candle closure above 0.0065 is very likely to happen, this would indicate a bullish engulfing candle of the monthly which is a great indicator for further upside. - The volume picture is also corresponding with the bullish engulfing, increase in volume + increase in price = upside potential. - Next real resistance would be located around 0.008 Weekly : - This weekly candle is also trying to become a big bullish engulfing indicating more upside to come. - Weekly MACD crossed bullish which is a big thing (if you want to know why check our last analyses) - Resistance located around 0.007 Daily : - 5 candles ago we had a bullish engulfing candle indicating more upside, which seems to take place as of today. - Daily closure above 0.0069 would mean that the 200 daily moving average has been overtaken, which would mean that the TREND has CHANGED ! So depending on the daily close of today you could state that the trend on LTCBTC has changed and that we are now once again looking to open long positions. LTCBTC is soon getting its own ASIC miner which would make the mining of LTC become more profitable indicating that more people will start mining again. So in summary: We are really bullish on LTCBTC if we get a closure above the 200 (D)MA and a bullish engulfing on the monthly, then the trend is changed in our opinion and we could be in for a long lasting bullrun. This analyses is only showing you guys our vision on LTC and should not be considered as financial advice. If you agree or find this analyses useful let us know in the comments below and don't forget to leave a Like ! Kind regards, Forallcrypto
Long
by ForAllCrypto
2
SPY - pullback before upward move, short term ideaHi Everyone, An update on the SPY charts Bulls have been full throttle and enthusiasm has been at its peak. A quick look on the charts, after a strong uptrend, we can see a Bearish engulfing pattern that has developed on the daily chart, this could be a sign of shifting hands of powers from bulls to the bears, at least momentarily. Also RSI already near overbought zone, a good case to go short for the short term. On daily charts, next support level is 327.31 and 325.10 levels On 4hr charts, support at 327.37 and 325.09 On shorter timeframe, 30m charts, support at 327.36, 326.81 and 325.19 Trust this helps If you like what you see, share a thumbs up! Cheers
AMEX:SPYShort
by LoveForCharts
USDNOK Jan 24, 2020We can clearly see the touch on the resistance and a clear rejection with the bearish closed candlestick (I am looking at my broker's chart which is a bit more accurate compared to this SAXO BANK). We can also see that the bearish (red candlestick) is bigger than the green which indicates a bearish engulfing pattern and therefor a reversal. !!Another sign is the overbought position the pair is in and the bearish divergence we can see. I am waiting for a big move to the downside. And therefore I will short this pair!! Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Short
by Mete_forex
BTC- Accumulation modeThis week is nothing but reverse bart patterns and scam wicks! I guess this is the result of decreased liquidity caused by the slowly declining volume during the consolidation phase. Bitmex is trading below 2 billion volume as of now, yet open interest is on the slow ascending trend. This tells me the accumulation is taking place possibly by big fishes. In addition, volatility is slowly ticking up as well. Other signs to pay attention to- CME open interest and volume going up + Backwardation + USDT premium going up As we all now, low volume is a precursor to the high volatility move... As long as 8.4k is defended, I will continue my buy on the dip mode!
BITFINEX:BTCUSDLong
by Libratus
{SWC}——KRONO, Bullish Engulfing!Thank you for your continued support :) Strategy: Price-Volume Analysis Bias: Bullish. KRONO has made a successful triangle breakout with volume today, after well supported on the uptrend line and short term MA line. SWC's private group members were informed over the weekend that KRONO is reaching MA support zone and should take note! KRONO has formed bullish engulfing candlestick pattern too. SWC expects there will be more momentum generated following the breakout, where positive movement should be seen at near term. S: 0.880, 0.865 R: 0.935, 0.950 If you found this idea helpful, do not be hesitant to leave us a like or comment! :)
MYX:KRONOLong
by ShareWorldConsulting