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Engulfing Candle

TAP - start of bullish trend?TAP bottomed in Sept 2020 and began to move higher till 7 Jun2021, after which it made no further progress and pretty much churned sideways in a wide range for the next 11 months. Finally, on 2nd May this year, it began to propel strongly above the neckline due to positive earnings surprise. However, it then began to pullback over the following few weeks, all the way close to the neckline before staging a strong rebound. This is a classic breakup and retest that affirms that the neckline (formerly a strong resistence) is now the new "support". The stock appears to be poised to began an uptrend that could last a while. The next strong resistence could be around $75. However, it is just a level to look out for and nothing is cast in stone. Trade management (which varies according to one's trading style and temperament) is required to see how far one is able to ride a trend. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:TAPLong
by Juliac
Gold prepared for another bearish tumbleGold has retraced to the neckline of the double top pattern, upon which it provided a strong bearish engulfing. The weekly resistance has failed to be completely broken in addition to a rejection of the 38% fib. The 4H is trading within a range creating a new lower low along with ADX. The moving average is crossing to the downside as well as a trendline break to the downside. Price is now on the short side of the trendline. I will look for shorts near the weekly resistance for a 4H lower high. or a complete retest of the major 38% where the daily was rejected. Targets for shorts are -27%. extended target at -61%.
OANDA:XAUUSDShort
by DesharedPierreJr.
Kraft Heinz: Head and Shoulders Bearish MACD CrossingKHC has been trading up within this range since the 2020 mania brought it here and I've been waiting for it to form this tentative right shoulder and as of right now after it's given us a Monthly Bearish Engulfing at the 55-Week EMA and the MACD has officially given us yet another level of Bearish Convergence I think we can safely say this looks quite bearish and is likely to go down to make some retraces. One other thing to note is that in recent years, KHC has been selling off all of their brands to other big Food Companies, with the most recent one that comes to mind being the selling of Planters to Hormel Foods for 3.3 Billion Dollars and Cracker Barrel to Lactalis for 3.2 Billion Dollars; Which raises the question as to why KHC feels the need to sell of so many of its well known assets if they aren't currently in a position where their stock price may be considered overvalued?
NASDAQ:KHCShort
by RizeSenpai
RADICO - Bullish Engulfing Swing ReversalNSE: RADICO is closing with a bullish engulfing candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 11% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade Disclaimer: This is for educational purposes only.
NSE:RADICOLong
by BrahmaBull31
Gold creating its 3rd higher high after a steep declineI believe it's time to counter trend trade this pair. I plan on counter trend trading this pullback(retracement) of a daily lower low. TDI was too bearish on the 4hour chart from me to take a long position on Friday but now, all signs are clear for a buy upon a reversal signal at re-test. The swing high is around 1983.27 the swing low is around 1958.15. the neckline for the double bottom is the weekly support. I've already remarked up my chart for the 4hour supports and resistances. I intend to trade as relatively close to naked as possible since the candles speak for themselves as loud as the fundamentals. We're up all night to get lucky as we become more patient with this setup we'll learn that it's the simple fundamentals and basic levels of structure that determine our bias for direction we must be attentive and prepared to switch immediately upon a retest of structure.
OANDA:XAUUSDLong
by DesharedPierreJr.
TSLA: Dangerous Top Signal.• TSLA hit our target area last Friday, around $177, and it is now triggering a Bearish Engulfing candlestick pattern on the daily chart. I mentioned this target on our previous TSLA analysis – link below this post; • The problem is that TSLA triggered this Bearish Engulfing under the $177 resistance, and it is back under the 21 ema as well, indicating that TSLA is very weak at the moment; • On the daily chart, the next support area is around $154 (black line). • On the 1h chart, there’s a short-term support line at $165, which was a previous resistance level; • Below this support, there’s an open gap at $161, and another support line at $158. For now, it appears the $165 line is our main support level, as TSLA is trying to react this morning. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
9
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