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Engulfing Candle

MSFT- found intermediate supportMSFT gapped down into intermediate support @ 220 today (after another round of "bad" CPI report that spooked the markets) but immediately reversed to form a bullish engulfing candle on the daily chart (and a potential pin bar on weekly chart). Bullish divergence can be seen on both the weekly and daily charts which gave more conviction to this current support @ 220 (medium term resistence turned support) Granted that a bounce from an bullish divergence can be just a short term counter trend (in a bear market), this support at 220 is still significant unless it is breached to the downside. 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!
NASDAQ:MSFT
by Juliac
REC LTD - BULLISH ENGULFING 📊 Script: RECLTD (REC LIMITED) 📊 Nifty50 Stock: NO 📊 Sectoral Index: NIFTY FINANCIAL SERVICES / NIFTY MIDCAP 50 📊 Sector: Financial Services 📊 Industry: Finance Institution Key highlights: 💡⚡ 📈 Script is trading towards upper band of Bollinger band (BB). 📈 Already crossover in MACD . 📈 Already Crossover in Double Moving Average. 📈 Double candlestick pattern BULLISH ENGULFING seen which indicate Bullishness in stock. 📈 Right now RSI is around 70. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 105.45 🟢 Target 🎯🏆 - 114/117 ⚠️ Stoploss ☠️🚫 - 100 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat🔁 Happy learning with trading. Cheers!🥂
NSE:RECLTDLong
by radha_23
PERSTIGE - BULLISH ENGULFING 📊 Script: PRESTIGE (PRESTIGE ESTATES PROJECTS LIMITED) 📊 Nifty50 Stock: NO 📊 Sectoral Index: NIFTY REALTY / NIFTY MIDCAP 100 📊 Sector: Realty 📊 Industry: Residential Commercial Projects Key highlights: 💡⚡ 📈 Script is trading at middle band of BB and taking support of middle band which is SMA20. 📈 Already crossover in MACD. 📈 Already Crossover in Double Moving Averages. 📈 Double candlestick pattern BULLISH ENGULFING seen which indicate Bullishness in stock. 📈 Right now RSI is around 56. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 455 🟢 Target 🎯🏆 - 517 ⚠️ Stoploss ☠️🚫 - 428 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat🔁 Happy learning with trading. Cheers!🥂
NSE:PRESTIGELong
by radha_23
US 10-Year Treasury Yield Bullish Engulfing in Focus Before FedThe US 10-year Treasury yield left behind a Bullish Engulfing candlestick pattern on the daily chart this Friday. This is as the bond tested a rising range of support from August. A turn higher from here could open the door to revisiting the October high of 4.33. Otherwise, breaking lower exposes the 50-day Simple Moving Average, which could reinstate the upside focus. All eyes next week turn to the Fed, which is expected to deliver a 75-basis point rate hike. The focus will rather be on their language going forward as markets increasingly expect moderation. TVC:US10Y
TVC:US10Y
by QM_Dubrovsky
SPX - this rally could have legsDespite that bullish engulfing candle with strong volume on 13 Oct, the market continued to climb a wall of worry for the next 5 days. However last Friday's strong close is a "follow through" day that added to my conviction that this rally could last a fair bit. On the Monthly Chart (not shown here): A potential "bullish piercing candle" (monthly ) will be formed if by the end of this month we have a close above 3762. So let's see! On the weekly chart: 1. SPX had rallied after testing the first major support @ 3500 on 13 October (last major support is around 3200, may not get there) 2. we see bullish divergence playing out On the daily chart: if SPX can close above it's immediate resistence @3800 (a mini inverse H&S neckline and also the 50% fib retracement of the recent XY down swing, then it could attempt to rally (minor pullbacks not withstandng) towards 4100 (inverse H&S target, incidentally 4000 - 4100 zone is critical as it also where the major downward trendline resistance is. The bears and bulls will be having their last battle here. Could this be just another bear rally (albeit a strong one) or could the market have bottomed out at it's most recent low of 3491? I guess we will never know for sure except on hindsight. The market seem to be resisting much lower levels than 3500 (at the worst case we could have a double dip back towards 3500 within the next few months although I feel the chance of market going lower than that is diminishing. Still protective stop loss is must. p/s Fed starting to sound less hawkish in the coming days could be the ultimate signal for the bulls. definition of "follow through day" here: www.investors.com 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!
SP:SPX
by Juliac
3
CHFJPY to fallOn weekly timeframe, CHFJPY has reached an overbought zone (RSI), an intersection between upper channel and horizontal support. On lower timeframe, we've seen a big rejection recently, and then a correction upward : here we reach the 80~88% fib levels of the last rejection (D1), with a bearish engulfing pattern yesterday. This behavior can be a potential sell signal. If we follow correlation to compare currencies, we find more confirmation : USDJPY has reached very high levels too fast, becoming overextended, and JPY will probably start a correction soon, meanwhile USDCHF is retesting a daily resistance for the fourth time, giving bullish signals, not yet an overextended move. Goodluck, Joe.
Short
by joe-abdallah
The SPY Looks Like It Could Soon See $420-$425Rigtt now the SPX is trading inside a Descending Boradening wedge at a Previous Zone of Weekly Congestion and has Bullishly Engulfed the Weekly lows and held above said lows. So long as we can continue to hold these levels we should eventually see the top of the channel and previous Support/ Resistance level of $420-$425 and (if we are to aim for Full Measured Moves we'd expect to see $478.50 but for now lets just target $420-$425 then move forward from there); However any serious price action below this Congestion Zone would likely result in us fastly approaching the $200s, so to be safe i will Cut this Bullish Trade loose if we Break and Close Below the 200 Week Simple Moving Average.
AMEX:SPYLong
by RizeSenpai
3
QQQ: A bullish reaction in a support! What's next?• QQQ is doing a Bullish Engulfing today, a reversal candlestick pattern; • This pattern appeared just above the support at $275 (June 30 low); • If QQQ loses this support, it’ll just resume the bear trend, and the next support is the $268; • However, if it confirms this Bullish Engulfing it’ll trigger a technical reversal, which might take it to the $290; • The $290 is a previous support (Sep 6), and it is supposed to work as a resistance in the future, according to the Principle of Polarity; • In addition, the $290 is where the 21 ema is right now. Yes, the 21 ema is a dynamic indicator and it’ll probably drop more in the next few days, but it is still very close to this area; • If it’ll trigger a mid-term reversal in the future, only time will tell. For now, lets focus on this support level. Remember to follow me for more analysis like this! Keep in touch.
NASDAQ:QQQ
by Nathan_The_Finance_Hydra
1
BTCUSDT pullback to triangle trendlineThere's no reason for bullish bias. The price action shows an engulfing bearish after a pullback to triangle upper trendline, healthy 30% retrace and retest. Supports broken. Price below daily volume point of control -rejected from POC. Expecting lower lows aiming 14.6% as seen on chart. 17K is possible in a next swing downward. Plus hidden bearish sign from Chaikin Oscillator. Fibonacci retracement applied w/ 88.6% and 14.6% key levels. Bearish 2-D swing to complete the major Head and Shoulders correction @ all retracement expected.
Short
by firmestudio
6
ETH... short and long positionhello guys eth had formed a QM pattern at daily time frame and in upper time frame (weekly) showed as an engulfing candle so it so perfect for short position, on the other hand, this QM pattern is on flip area and flag on it, but if price break up this area (fl at flip) that i showed as a gray zone, make this crypto currency so bullish and i will update this analysis for long position. always do your own research. If you have any questions, you can write it in comments below, and I will answer them. And please don't forget to support this idea with your like and comment.
by melikatrader94
2