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Engulfing Candle

GANX Biotechnology Penny Stock Uptrending LONGGANX had been in a tight consolidation channel prior to April 12th. This is the uncommon high tight flag pattern. Once breaking out, the typical guidance is the next leg up will be at least the distance of the flagpole portion of the pattern. On April 12th, a new chief financial officer was appointed to Gain Therapeutics. ( see the link below ) This is part of the push to generate earnings while still developing a pipeline and potentially the first profitable FDA-approved product. Another view is the company is trying to clean up its balance sheet and make itself into a takeover target. One way or another I will not argue with a potential path to shift the fundamentals nor with the high tight flag pattern breakout. The last session of the week had a massive wide- ranging engulfing green candle. I will look for more of the same. The final target is $6.15 as the top of the wick of that candle while the first target is $5.80 being the top of the upper VWAP band.
NASDAQ:GANXLong
by AwesomeAvani
NZDUSD: Daily Bullish Engulfing with Hidden Bullish DivergenceNZDUSD still looks like it would rather Break Bullishly out of this Range than Bearishly and right now it has Bullishly Engulfed on the Daily and has Continued to Build it's MACD Hidden Bullish Divergence; if we could gather enough energy to rally up to and break the Bullish Dragon Trigger Line, I not only think it would make the 0.886 retrace of the range but i also think it would have quite a good chance of breaking out fully from the range and going for new highs.
Long
by RizeSenpai
EURJPY TRADEWell here i used Fib tool to get another confirmation to enter a trade,we have fib 0.618+retest of daily zone+bullish engulfing,so triple confirmation,if u go to daily and u pull a fib from the low to the hi,0.618 alignes with my zone 144.287-always look as a zone not a LINE,i put the lines because if not my chart looks messy,and daily is retesting ,i only enter when 0.618 or 0.5 alignes,and only using fib sometimes to get multiple confirmation,here a bullish engulfing and a retest would be enough for me,didnt manage to publish the trade before i entered,if someone is interested i can do it most of the time,always glad to help and to share the knowledge
Long
by ZONE2ZONE
Possible beginning of a new bearish leg for SPXSummary: Main bearish trend (dotted teal downtrend line) Reversal attempt in progress (purple uptrend line) 200-SMA breakout in jan-2023 Failure to continue the breakout (failed bull flag - orange lines) Arrow #3 as a good entry option for a bear trade. Possible beginning of a new bearish leg, aligned with the main trend Possibility to surpass the last low (oct-13-2022). Set target @3,330.00. Timeframe expected: 3 to 4 months. Detailed explanation: 2022 was a very bearish year for stock markets, and prices have navigated under the 200-days simple moving average (200-SMA) for the most part of the year. On the other hand, the first months of 2023 had some attempts of breakout to this widely known indicator. By December, 2022, prices tried to break-up the 200-SMA, but failed, then pulled back and tried a new breakout in January, 2023, that succeeded and provided some hope for a reversal. Arrow #1 is signaling the top of this bullish leg. After this, prices developed a little bull flag (orange lines) , near a resistance level. I have been closely following the price movement on this flag, to try to catch a trading opportunity, bullish or bearish. The bullish case was the most evident, and would happen with the breakout of the flag, confirming the continuation of the main trend reversal. But if it didn’t come true, prices could continue on a longer range or even breakdown the 200-SMA, providing, hence, a bearish trade. It turned out that the second case is being developed. On February 21st the bull flag was undone, by a very bearish -2% candle, then some days passed and the 200-SMA offered a support for the prices, this movement came along with some doubt candles (tiny ranges, long wicks), their in the area near arrow #2. This arrow points specifically to a bullish engulfing candle, that signaled a possible return of the bull and that the 200-SMA would indeed sustain the prices. After that, a bullish candle confirmed the engulfing pattern, and I considered that now it was a “make or break” situation, that either had to continue with strong buyings or finally give away and return to the main bearish trend (dotted teal downtrend line) . The second scenario happened, with a classical shooting star candle denoting a top, indicated by arrow #3 and followed by a relevant -1.53% bearish candle. I consider it can turn out to be the beginning of a new bearish leg in favor of the main market trend. If it breakdown the 200-SMA (and the previous bottom, of arrow #2) we will probably be full gas back to the bearish trend, reverting that secondary bullish trend indicated by the purple line. Predicting the future is impossible, but trading is a probability game, and to my criteria the odds are high enough to make a bet now. So, I started a trade yesterday near the market close. The stop zone is a little above the high of the shooting star candle of mar-06-2023, and my target is @3,300.00, I chose this number considering that this is a movement with the main trend, and that the last low (oct-13-2022) is usually surpassed in this kind of situation. PS: I know there’s a whole FED policy/interest rates discussion going on, and that it provides much of the ultimate reasons for the market movements I described, but I will stick to technical analysis here and to the principle that the chart sums it all up, hence I considered only price patterns in my analysis.
SP:SPXShort
by thessia_
1
SPX: Bullish Reaction Above Golden Cross.• The SPX is doing a very powerful reaction above a critical support level; • First, as seen in the daily chart, it hit the 3,949 support, and it is doing a powerful reaction. Last Thursday it did a Bullish Engulfing, and las Friday, it broke the 21 ema and the 4k; • In the weekly chart, it is doing a Hammer candlestick pattern, a bullish reversal pattern that works 60% of the time (according to Bulkowski – Encyclopedia of Candlestick Charts); • In addition, this Hammer appeared just above the purple line, which was a previous resistance when the SPX was inside a Descending Channel; • Moreover, this Hammer appeared above the 200 ma, after the index made a Golden Cross (the 50 ma broke the 200 ma upwards); • All these signs indicate that although the index may look overbought short-term wise, it has decent chances of maintaining the bullish bias mid/long-term speaking, especially if look at the weekly chart; • I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis!
SP:SPX
by Nathan_The_Finance_Hydra
BULLISH ENGULFING ON WEEKLY CHART !!Hello to everyone A significant decline has been seen in the price. The price trading near key demand zone and price respects the support level and moved towards upside on weekly chart. Price also formed bullish engulfing formation on weekly timeframe, which is showing that price has strength to go upside. If price respects the bullish pattern than we can expect good bounce back rally in the price. #ACC LTD 📊 👉Price at key demand zone 1660/1675📈📉 👉Bullish Engulfing Formation on weekly chart 👉Support seen at 1660/1665✅ 👉Reversal sign📈 👉Targets 2045/2165 +🎯 👉Add to your watchlist👍
NSE:ACCLong
by Jha_Nidhi
2
EURUSD - Wanna go up a little bit? EURUSD has been under water for a minute, but, a this point, we might want to go back up a little bit, The window is short as I think we're expecting more downward movements in the upcoming months, but for now, we might be able to get a nugget from a temporary retracement. I have been waiting for EU to get into the 1.05 level for a while and there it is, so, I'm going to enter a long, short term, contertrend short term trade/with the longer term uptrend trade These times are tricky when it comes to trading because, we're in a mist of a global reversal, with USD getting more strenght, and, looking at economic datas, I think Dollar is going to be stronger until the Fed pivot later on this year so anyhow, this trade fills my trading plan, so, let's get in! Why? 1) EU is in an uptrend, untill it officially breaks the ascending trendline 2) It's taping a strong support, 3) Dollar is overbought, as it's been on a push up for about a month 4) Engulfing Daily candle, at a level, at a trendline, in an uptrend, is a buy signal 5) Oscillator made a golden cross, under the 20 level, a buy signal, especially if at level 6) We might get shaked out, ideal situation would have been to see the price get liquidity at 1.05 and under, so, we might have to reenter later on, all good Hope you've found some valuable informations guys! Cheers and, safe trading!!!
Long
by aemerydufoug
2
Upgrading Polygon PoS Chain to Boost Performance + TAHello friend. Today im going to explain about the latest happenings in polygon layer-2 blockchain. Lets see what will happen? When the Polygon PoS chain first launched it offered a much-needed solution for Ethereum’s scaling issues. It gave users and developers alike everything they love about Ethereum but with faster throughput and lower fees. Now, with tens of thousands of decentralized apps, over 207 million unique addresses, more than 2.3 billion processed transactions, and a vanishingly-small carbon-footprint, the Polygon PoS chain has emerged as the premier destination for dApps. It is home to some of the biggest Web3 projects like Uniswap and Aave as well as major companies like Robinhood, Adobe, and Stripe. But this is only the beginning. Longer-term technical upgrades to Polygon PoS are being worked on, like parallelization, even while other promising tech for scaling, like Polygon zkEVM, is being built. a critical hardfork will be proposed that will aim to: 1 - reduce severity of gas spikes; In order for a transaction to be included in a block, a gas fee is required. The “base fee” is the minimum fee for block inclusion, and is set in accordance with EIP-1559. Although on-chain gas dynamics work well a majority of the time, when the chain experiences high demand, the base gas fee experiences exponential spikes. Increased gas prices are normal during surges in demand on any blockchain protocol. But “gas spikes,” which represent exponential growth in price, are not. They are a result of EIP-1559 and the Polygon PoS chain’s faster block times (~2s.) 2 - address chain reorganizations (reorgs) in an effort to reduce time to finality. Decrease the sprint length from 64 to 16 blocks. By reducing the length to 16 blocks, this upgrade means a single block producer will produce blocks continuously for a much shorter time (~32 sec) than the current (~128 seconds). Doing so will decrease the depth of reorgs. “Sprint length” describes the number of blocks a validator produces contiguous blocks on Bor chain. By reducing sprint length, the time a validator continuously produces blocks decreases. The result? Lowering the chances of a secondary or tertiary validator (who hasn’t discovered the primary) kicking in to produce blocks, resulting in fewer reorgs overall. Reorgs are possible due to the architecture of the Polygon PoS chain, which relies on probabilistic consensus. Finality for a transaction is achieved based on the number of confirmed valid blocks on top of the block containing a transaction. In the Polygon PoS chain, applications wait approximately 50 blocks before considering a transaction final. A reorg occurs when a validator node receives new information that shows a longer, or higher version of the chain. The chain with the highest difficulty is called the “canonical” chain. If a longer version of the chain arrives with more blocks, this is the new canonical chain, and the old one must be discarded. Reorgs may impact transaction finality and disrupt the ability of an application to be confident that their transactions are part of the canonical version of the chain. Expectation after the hardfork: By decreasing the sprint length, the hardfork will help reduce the frequency and depth of reorgs, and improve transaction finality. The change will not affect the total time or number of blocks a validator produces, so there will be no change in rewards overall. Now lets look at technical perspective: take a look at picture below (thats a weekly chart): As you can see , the price supports in 0.76 strongly with a n Engulfing candle and now it reaches to the correction area. correction lasts till 50EMA (green line) and after that will increase again. Notice that this analysis is a Long-Term analysis . So try to invest in your own strategyk. I think Polygon will be one of the best ecosystems Blochchain seen in these years. THANK YOU fo reading my idea. PLZ support me and put your opinion in comments? What do you think?
MLong
by TraderAmin-KZ
EURUSD SHORTEURUSD is behaving like it going to go south for a little bit, let me explain, The price as hit a very strong resistance, the 1.10 level, and is rejecting a couple other major chart elements, I'm going to look for entries on H8 - H12 and D1 and help EURUSD get to the 1.04 - 1.05 Level first, then back to the 1.00 Level is further selling pressure The reasons are the following : 1) Price has rejected the psycholigical level of 1.10 2) Price has retested and rejected the Trendline of a massive correction that happened between 2017 and 2022 (the red trendline) 3) Price is rejecting the 50% Fib retracement of a the huge downtrend that occured between may 2021 and October 2022 4) All of this is confirmed by last week's closed weekly candle, that is making a beautiful pin bar, after it did a false breakout to go and get liquidities from the 1.10 Level All for this is constituting a case in favor of a drop of the euro, I will look to short it until it shows any strong signs of reversal on the different levels mentionned above, the 1.05 level, the 1.00 level, and eventually, the 0.95 Level Don't hesitate to leave a coment or ask if you have any question Cheers and trade safe!!
Short
by aemerydufoug
1
Gold - Wanna Take a Breath?! Gold has been hit pretty hard by the rise of dollar since a couple of weeks. It broke the ascending trendline it was in since november violently, without retesting it, falling like a rock all the way to the 1800s. But now could be the time for a little push up. It could either be a retracement if gold wants to print a downtrend, in what case we would go up to make a Lower low or even a double top. Or it could be a continuation of the uptrend. Both are possible, but for now, I'm gonna play the uptrend card. The situation : 1) We're still officially in an uptrend 2) Price is at previous support 3) It pushed away from 1800ish level, 4) It's been approaching the support in a corrective manner, a falling wedge being a sign of a bullish reversal 5) It's rejecting the 50 - 60% Fib retracement level of the massive uptrend that happened between november and february 6) Pinbar on Daily, tweezers on H12, morning star on H8 This situation is pretty similar to the one with silver. It looks pretty scary to get into a long after such a sharp move down but, what goes down must go up at some point, and even though a lot of factors are pointing into the fact that gold is changing trend right now, technically, we're still in an uptrend, so price should obey to signals going that way. I'm going into this trade because it follows my trading plan, this isn't a matter of belief. I'm not sure what the outcome will be, and it might hit SL, but, the thing I know is that it doesn't matter. The simple reason being that, I have enought evidences in favor of taking a position, and, if I respect this rule everytime, then my outocme will be positive on the long run, so, doesn't matter if I'm right or wrong on this one, it matters if I respect my trading plan, and trade according to it. Plan the Trade, Trade the Plan!!! This was the last analysis for this week, I'm wishing everybody sucess for this trading week, and don't hesitate to leave your comments and opinions about my ideas, any income is more than welcome! Cheers everyone!
FOREXCOM:XAUUSDLong
by aemerydufoug
3
SPX: Strong Bullish Reaction.• The SPX did a bullish reaction, just above our key support level at 4,100, which we’ve been monitoring for a few days; • This indicates bullish continuation, and despite the correction this morning, the index still looks bullish; • In the lack of bearish reversal structures, the gap at 4,218 is our next target. So far, there’s no bearish sign on the index; • Yesterday, it did a Bullish Engulfing pattern, and it is quite normal to see short-term corrections after the bullish candlestick – but it must not drop too much, otherwise, it might frustrate the pattern; • I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
1
Gold Leaves Behind Bearish Engulfing as Fed Push Losses SteamGold prices dropped almost 2 percent on Thursday, the most since the summer of 2020. XAU/USD was unable to find follow-through after a boost from the Fed earlier this week. Upbeat US jobless claims brought data into focus ahead of Friday's non-farm payrolls report, pushing up the US Dollar. A Bearish Engulfing is in focus. Downside follow-through is lacking at the time of publishing. A breakout under the 20-day Simple Moving Average exposes the 50-day line. Negative RSI divergence is also present, showing that upside momentum is fading. Otherwise, key resistance is the 1978 - 1998 zone above.
FX_IDC:XAUUSDShort
by QM_Dubrovsky
1