Sell USDCAD (Daily Candle)in Daily chart :
Bearish Engulfing candle stick pattern
> Sell
Entry : 1.3345 (50% of Monday candle)
Stop : 1.3400 (55 pips)
TP1 : 1.3200 (145 pips)
TP2 : 1.3080 (265 pips)
Engulfing Candle
RIGL-SHORTTwo big red candles, double top = selling pressure to the upside, is everyone out yet that wants to be out? that is the question. Short here with 1 ATR stop and a 20% target to the down side.
USDCHF Trade IdeaThe trend is currently bullish so I am looking for buying opportunities
Using the 21 MA I spotted a bullish engulfing candle pattern just completed
Buying @ market price 1.00008 with
Sl below the candle pattern @ 0.99737 and
Tp higher up around resistance @ 1.00568
Always exercise good risk management
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Short AUDUSDWe are short AUDUSD and see a bearish engulfing pattern identified by the candlesticks with black arrows, however there could be a potential counter attack if the resistance level of 0.713 is breached. However we expect the downtrend to continue despite better than forecast Australian retail sales (0.8% actual vs 0.3% expected). This is because the RBA don't appear to be inclined to raise rates in the near term having held having held the cash rate to 1.5% on the 02.04.19. Strong US data starting with today's non farm payrolls and unemployment rate could lead to further downside for AUDUSD.
MYGN - SHORTIn at $33.29. 1 ATR stop in place. Target = 20% Bearish engulfing. Biotech sector bearish.
cadnzd bullish move.on the cadnzd pair, I see bullish potential from support zone + falling wedge pattern. Price reacted very well from support with an engulfing bar and has retested newly formed support zone. Looks like potential inverse H&S but can't be too sure on that.
Price has also reacted very well off newly support zone.
Dax (Germany Index) Short on Structure Break ??Reason to Sell
1) 11700 - 11900 = resistance area
2) Counter-trendline broken
3) Engulfing candle
NZDCHF 4H LongAscending trend line coincides with key level. 4H bullish engulf formed on strong support. Good chance for a long here. All the best!
EURJPY - SellHey!
It has almost two perfect bearish Engulfing patterns in a row and this is pretty unusual:
The last week candle managed to break and close below the 2018 low level and we can assume that the movement may continue in the further week.
Wait for a pullback into the blue box area and it should be ready to make another move from there.
It goes just a little bit against my other analysis - CADJPY - but both have their blue areas in different places, so watch those!!
CADJPY - A bit educational post:
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Thank You!
Have a nice day,
Cheers!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
USDJPY Long / Short AnalysisCurrently USDJPY is looking to be a short position as its broken trends and resistance zones if the price retests to the previous support and respects it as a resistance level the price should continue to go short however if it breaks back into the upper resistance zone i will lead it back into the trend that it broke out of and is a possible long position.
We can learn from this chart o Trend is clear
o price never broke blue line till...
o on the peak it broke blue line and closed
below the brown line
o Sell trigger would be on that candle
bearish engulfing
o Since bearish engulfing is happening
it's confluence with the trade
Week 11 Trade 2 EU ShortReasons for entry:
- 88.6% fib rejection
- 1.1310 Minor psychological level
- PA is wicking + bearish engulfing
- Price is losing moment and beginning to stagnate
- 2hr Doji, possible evening star forming on the 2hr
Entry Timeframe:
- 1hr bearish engulfing (weak) + 2hr Doji
- 1.1305
Stop Loss:
@1.1319 (-14pips)
Take Profit:
Target 1 @1.1225 (+80pips) = Risk/Reward : 1:5.9
Target 2 @1.1200 (+105pips) = Risk/Reward : 1:7.8
Target 3 @1.1150 (+155pips) = Risk/Reward : 1:11.5
Notes :
- 2nd attempt at shorting this EU trade
Looking to short Boeing $BA for a potential $40 (10%) move.After a parabolic move up, then a breather, and another 10 straight weeks of aggressive gains...I am looking to short Boeing on a pull back from the $420's down to the $380 range. Currently trading at $422.
Special tips:
- I cite "Irrational Exuberance" as the reason for this short, however...
- Remember that "the market can remain irrational longer than you can remain solvent".
- In other words, don't bet the family trust on it. A move over $440 can tear the face off of shorts one more time as it did in its last break higher.
NZDCHF - SellHey!
This year high is made and from there we got a rejection from:
- The trendline since 2017 July (black line)
- The round number 0.69000
- The previously worked resistances
The rejection ended up with a bearish candlestick pattern called bearish Engulfing!
Do not forget to support my idea post by hitting the "LIKE button!
Thank You!
Have a nice day,
Cheers!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short NEA Due to oversea market gaining higher last night the ASX 200 should be opening higher off its bounce. However with Nearmap it has formed a bearish engulfing near the RES and its near 52 week high as well. Looking to short 1260, near the 13 ema.
What is a Engulfing Pattern?Trading with the trend is one of the most advantageous things a trader learns to do. Using an engulfing candle day trading strategy is one way to get into trending moves just as momentum is picking up.
The engulfing candle trading strategy works best when used in conjunction with a trend. The first step in applying the strategy is to determine the dominant trend direction, and thus the direction we will trade in.
An uptrend is defined as higher swing highs and higher swing lows in price. Prices move in waves, advancing, pulling back and then advancing again. In an uptrend the advancing waves are larger than the pullbacks, creating overall progress higher. During an uptrend, only take long positions (buy).
A downtrend is defined as lower swing lows and lower swing highs in price. During a downtrend the declining price waves are larger than the pullbacks higher, creating overall progress lower. During a downtrend, only take short positions.
- A high probability price action approach for trading bullish and bearish Engulfing patterns is to look for the pattern to appear at important support and resistance levels.
- The best place for a stop loss order in an Engulfing trade is beyond the Engulfing pattern extreme. This would mean that if the Engulfing setup is bullish, the Stop Loss order should be placed under the lower candlewick of the engulfing candle. If the Engulfing setup is bearish, then the Stop Loss order should be located above the upper candlewick of the engulfing candle.
Wait for a Pullback:
Once the trend is established, wait for a pullback. If there is no trend, or it is unclear, don't utilize this strategy.
Waiting for a pullback means your getting advantageous pricing for the next wave of the trend, when and if it unfolds.
What is the first target?
