Engulfing Candle
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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*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!
