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Engulfing Candle

EURAUD SHORT TRADE: 130 PIPS POTENTIAL (SWING TRADE) SETUP CONFLUENCE Monthly Time Frame - Support breakout, Pullback and possibility for bearish continuation Sell Signal Weekly Time Frame - Support breakout 1.61597, pullback and possibility for bearish continuation - Bearish engulfing candlestick formed, range = 1.63132 - 1.60322 Sell Signal *SELL SETUP EXPLANATION* Daily Time Frame After looking at monthly and weekly time frame I conclude that price are on the way for bearish continuation. But the question is, where we might put our sell entry point?? inside weekly time frame bearish engulfing zone, we identified that at daily time frame, support has been formed and breakout. so this is where my confirmation for this sell setup. H4 Time Frame This is the part where i look for my entry point. you can see that support breakout formed and inside those there was engulfing candle at price range: 1.61751 - 1.61274 i will put my sell entry point in that zone, still confuse ?? if yes than put your sell entry point at 50% level in the engulf zone. 1.61508 Keep it simple guys!! ^^ This is my thought on EUR / AUD for this trading weeky, what's inside your mind? please let me know in the comment. Thankyouuu!! :D
by TinyFX
Trade Ideas Educator: AUDCAD BatThis bearish bat setup is 1 of my favourite for this week and that's because on the daily chart Point X to Point A is the move that breaks a few small support level. Although if the market break lower and close lower it will be even better, this is something I can't complain about. This trade may enable me to have a trade extension on a trend following setup. A break and close below point A will ensure that to happen. Let's see how this trade goes. Well if you are searching for help and a community, have a look at the links on my signature, hope to see you soon in our TIP community.
Short
by RaynLim
GBPJPY 15M SCALPING US SESSION INSIDE CANDLE BREAKOUT STRATEGYINSIDE CANDLE STRATEGY What is an Inside Candle 1. Previous candle engulfs next candle. 2. 2nd candle high is lower that 1st engulfing candle. 3. 2nd candle low is higher than 1st engulfing candle. INSIDE CANDLE METHOD 1. Incoming Trend 2. Inside Candle – Opposite Color 3. Enter Break of Engulfing Larger Candle Inside Candle method is a great short term consolidation indicator. If your trade plan contains breakouts and consolidation then this method is for you. This is a great way to find smaller consolidations quicker which will give you more trades on whatever time frame you want to look. On a daily chart it may take weeks for a consolidation pattern to form. An Inside candle represents a pause, consolidation or compression in the market after a big move. Often you will also see reduced volume on the inside candle. Inside Candle method is a pause or a reversal of the trend . So it is more effective if there is an incoming trend. Enter a break of the larger engulfing candle in the direction of the break. Enter with a Stop Order a few pips above or below breakout level. Which trades you take is a matter of preference. Some like reversal trades or trend following trades. Scalping inside candle pattern doesn't matter what direction you may go. Trend following you will want to see this in context of a larger trend. Take all the trade setups and just shut down the ones that don't preform. Trade Management: Enter 2 trades Stop Loss is 1.5 x ATR for both trades First Take Profit is 1 x ATR for 1st trade 2nd trade there is no take profit. When 1st TP is hit move 2nd trades SL to breakeven. Let profit run on 2nd trade by following/trailing SL. If a candle closes back inside the larger engulfing candle close down trade. Watch for a setup for the next breakout.
Education
by Tradingstrategyguides
BTCUSD - Bullish patterns forming. Potential bottom?Even while bitcoin has been consistently dropping from one support level to the next, there are some bullish price action patterns that have been forming over the past week. Firstly, price is sitting on a critical support trend line on the log chart that goes all the way back to early 2015. Off of this key support level two large bullish engulfing bars have formed. We will need to see price push higher from these patterns and hold above the important $7,700 resistance to have any hope that a bottom is in. This market has a lot to prove but these bullish patterns are a good start.
BITSTAMP:BTCUSDLong
by krugman87
BTC Core Macro Continues Downward SlideExcited by the reaction off of that 6.4k touch, much of the crypto community has grown horns, and become bullish again. I understand it. I even hope(d) it was a nice strong reversal beginning. The Weekly tells a much more grim story. A) Chikou has been rejected by the cloud. B) Chikou has now traveled below price, as well as below T&K C) In late Oct we formed an Engulfing candle. So far we've only resolved it to the downside (arrow) Holding that yellow block is important for Bulls to keep their "Reversal" hopes alive. The "Never below 6k again" crowd will get their answer if/when we test that block. D) Look left......That Looooong.....Straight Cloud......Think it'll get a reaction? ::wink:: Bulls need to regain 7.3-7.5 to keep their hopes alive, imo. LHs LLs continue to be the reality. Perhaps we play an Edge-To-Edge on that Cloud, and tap 4.5k or so before making HL's and HH's ::wink::
COINBASE:BTCUSDShort
by mrjones2020
EURUSD 1H INSIDE CANDLE METHOD BREAKOUTINSIDE CANDLE STRATEGY What is an Inside Candle 1. Previous candle engulfs next candle. 2. 2nd candle high is lower that 1st candle. 3. 2nd candle low is higher than 1st candle. INSIDE CANDLE METHOD 1. Incoming Trend 2. Inside Candle – Opposite Color 3. Enter Break of Engulfing Larger Candle Inside Candle method is a great short term consolidation indicator. If your trade plan contains breakouts and consolidation then this method is for you. This is a great way to find smaller consolidations quicker which will give you more trades on whatever time frame you want to look. On a daily chart it may take weeks for a consolidation pattern to form. Inside candle represents a pause, consolidation or compression in the market after a big move. Often you will also see reduced volume on the inside candle. Inside Candle method is a pause or a reversal of the trend . So it is more effective if there is an incoming trend. Enter a break of the larger engulfing candle in the direction of the break. Enter with a Stop Order a few pips above or below breakout level. Which trades you take is a matter of preference. Some like reversal trades or trend following trades. Scalping in doesn't matter what direction you may go. Trend following you will want to see this in context of a larger trend. Take all the trade setups and just shut down the ones that don't preform. Trade Management: Enter 2 trades Stop Loss is 1.5 x ATR for both trades First Take Profit is 1 x ATR for 1st trade 2nd trade there is no take profit. When 1st TP is hit move 2nd trades SL to breakeven. Let profit run on 2nd trade by following/trailing SL. If a candle closes back inside the larger engulfing candle close down trade. Watch for a setup for the next breakout.
Education
by Tradingstrategyguides
100 point drop ahead?GMAB We are here again, fifth time we hit the upper band of the paralell ascending trend channel, the prior 4 times it made a spinning top and bearish engulfing before heading down. That's pretty much what we can see again, spinning top followed by bearish engulfing. GMAB, recently broke out of the big overhead resistance from the former triple top, which was formed in 2017. It would be likely that GMAB takes a breather after 8 weeks of green and a bit overextended. It could take a small dive and revisit 1485 and enjoy the view from the former top and bounce back from there.
OMXCOP:GMABShort
by UnknownUnicorn2034381