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Hammer

DIS - Bullish hammer today?DIS is looking ripe for some swing up. The recent plunge is of a similar magnitude (just a little more than 100% fib extension) of a major prior consolidation that happened between July 2015 - Feb 2016. The gap was filled at 116.40 on Monday and although it went lower to 113.20, it recovered to close above. At 113.20 (it's lowest point in this plunge), it was just $5 shy of a major trendline support. Today it retested Monday's low at 113.20 again attempted to bounce from there. I would be interested to go Long if it could close above 116 (thus forming a bullish hammer for today). With a Stop just below 13.0 and looking to scale out as it reaches each target up.
NYSE:DISLong
by Juliac
1
S&P 500 Hammer Reversal#SPX – The S&P 500 saw a 136 point gain today which was its largest on record, good for a +4.6% gain after the worst week for stocks since the financial crisis. While this gain was nice to see after the massive decline last week, bullish rallies during an overall bearish decline can be extreme as we saw today. I’m expecting a lot of volatility in price this week as traders attempt to buy the dip, but potentially also return to selling negative news related to the Covid19 outbreak thus creating wild and emotional price swings. Traders appear to be betting now on the Federal Reserve lowering interest rates to boost markets, but until it happens it’s speculation on their behalf. They could easily return to being net sellers if the Federal Reserve hints at no interest rate cut, or too small of a cut. The good: the S&P 500 has created a hammer bottom reversal pattern shown in the yellow box. This is a 3 candle pattern that starts with a move down(1), followed by a hammer candle(2) and then a large move up that rises at least half the distance of candle 1’s total range. These are very bullish patterns that usually mark the bottom of a price decline. What we need to see next as reversal confirmation is for tomorrows candle to close higher than todays price candle. The bad: price failed to move above the 50% retracement level which is needed as more bullish confirmation that the decline last week is likely over. The 50% level represents the halfway point between the high made in price before the decline last week, and the low made at the bottom of the decline which was on Friday. From there you can calculate the fib levels as well as the 50% retracement mark. These levels are where we can expect price to find support and resistance going forward this week. Price did manage to get above the 38.2% fib level, but until price moves back above the 50% level there is still risk of a reversal and downtrend continuation. Ultimately the 61.8% fib level is the most important, a move above there would indicate that the trend has returned to being positive. Tomorrows price action will be the most important and more telling as to whether this was a reactionary bounce after extreme oversold conditions, or a true reversal back to the upside.
SP:SPX
by PrepForProfit
Time to buy SPX500, RSI Divergence, Candle Hammer, 1HourSo I'm fairly certain the market will have its first pullback and likely a reversal. Key notes for the reversal - - - - - 1. Check out that Candle wick. It reached that Purple trendline and immediately retreated indicating that big players have taken their bullish positions. At the end of that candle close, it will show a very clear hammer candle. 2. Look at the Divergence between the RSI and price charts. The Divergence is indicated by the Green( RSI ) and Red (Price Chart) Trendlines . RSI is making Higher Lowes while Price chart is making Lower Lows indicating a loss in momentum and a reversal. On top of that RSI is beginning to build an RSI Trendline indicated by the same Green trendline . 3. Price has reached the Lower Purple trendline that has supported price since June 2019 along with August 2019, and October 2019. This is the same Divergence and Candle Hammer we see on the 4Hour chart linked below
OANDA:SPX500USDLong
by CrisBarr96
Bullish price action on all high timeframesAfter consolidating around $9300-$9500 we now have bullish candles on the Weekly, 3 Day, Daily (forming) and a beautiful hammer in the cradle on the 16h just closed. We also have the 10 EMA crossing upwards above the 20 EMA on the Weekly which counts for something. As for entering a position here, a decisive break above the weekly high of $9575 would give me confidence for a short term breakout trade. For the HODLers, today's price action so far is encouraging :)
COINBASE:BTCUSDLong
by mastaplan
EUR/USD Daily - Possible Bullish ReversalTuesdays close on the 1D chart gave us a bullish hammer. Depending on the outcome of Wednesdays daily close we may have a sign for a bullish reversal. RSI is sitting around 35 which may also give the indication the trend has tired out. Strategy: Wait for Wednesday close. If we close above 1.1025 (the hammers high) then I will be looking for a long position. If we close below 1.1000 the possibility of bearish continuation is in sight, then I will be opening a short position.
by theConsultant45
1
Bitcoin BTCUSD Bullish Hammer - Bottom of a downtrend. How2TradeFor Bitcoin, currently, when we look at the BTCUSD price on a weekly chart, we can see that on the week of 16th December 2019 Bitcoin price action put in a Hammer on the weekly close. How to recognise a Hammer? A preceding downtrend, It looks like a square lollipop with a long stick, Has a tiny body, Has no or little upper shadow, The lower shadow is at least twice of the length of the real body. Whats the psychology behind the Hammer? It tells us that the Bulls are strong enough to conquer the Bears who once dragged the price so low. How do we trade the Hammer? Look for the hammer at the bottom of a downtrend. (this was already confirmed seen BTCUSD 16th Dec 2019 Weekly Chart) Wait for the next candle to close above the high of the Hammer to confirm existence of bullish force. (this was already confirmed seen BTCUSD 06th Jan 2020 Weekly Chart) Look for going long opportunities upon confirmation as the potential turn of the trend to Up-Trending dominance, with stops placed below the low of the Hammer. (current candle BTCUSD 13th Jan 2020 Weekly Chart) As a Day Trader, I will be looking for going long opportunities upon the possibility of a daily close candle above the Macro, major resistance trend-line level of around 8100BTCUSD- within the next 2 day’s. I will also be watching for any Break-downwards signals and/or a continuation of the Ranging Trend. COINBASE:BTCUSD
COINBASE:BTCUSDLong
by Gabe_MCB
SERNKOU, Can It Deliver Another ATH?Bias: Bullish. Trading interest in SERNKOU has been increasing since early Aug as seen by the volume , and SERNKOU reached ATH of 0.980 exactly a month ago, on 4th Nov 2019. The correction following that had been so far healthy; there was a small rally after the price touched the medium period MA line. Now, the candlestick interaction with the key fibonacci level could be an oppurtunity. Stop-loss: 0.795 // The recent low point 0.800. 1st target: 0.980, 1.00 // Previous high as minor resistance, whole number resistance 2nd target: 0.520 // Historical resistance as major resistance. Gentle reminder: Plan the trade and trade the plan. Trade at your own risk. Stay tune! Guys, if you like the idea, please "like" it, this will be the best thanks. If you have any questions or trading ideas, please post them in comments! Thank you for your support, we appreciate it.
MYX:SERNKOULong
by ShareWorldConsulting
Bitcoin Long to Daily KijunLongs Triggered @ Short Target 3 of $6,550 at midnight the night of 11/24/2019. s3.amazonaws.com My initial short targets were based on the 50, 100, and 200 EMA's and although they have changed since my original call back in July; we have (locally) bottomed within $20 of my $6,550 final short target. (Link to previous Bitcoin Short Idea 14k -> 6.5k: ) My new initial targets for this long based on trend lines in the chart given are: Target 1: Target 2: Target 3: ~$7,100 ~$7,700 ~$8,250 We have already gained +11% and reached Target 1 in less than 12 hours on this move! Although it could continue to rally in the coming hours; I have just taken profit on the majority of my margin longs from $6,500-$6,600 @ $7,200-$7,300 before writing this and am on the side lines awaiting a potential short-term retrace in the coming hours to get back in. The Daily Tenkan is marked in orange and Kijun in white on my chart; with the Kijun sitting right around ~$8,000 at the time of writing 11/25/2019. In my experience BTC tends to fairly dependably come back and touch the Daily Kijun. Best of luck and happy trading! Meteorite777
COINBASE:BTCUSDLong
by Meteorite777
FOMX - Foamix Pharma Reversal Pattern FormedOn October 18th, 2019, the FDA approved Amzeeq, otherwise known as FMX101 for the Israel based pharmaceutical company, Foamix. Amzeeq happens to be the first and only topical monocyline treatment to be used on acne patients. In anticipation of approval for this new product, shares of FOMX rallied from $2.53 per share on 10/08/2019 all the way up to highs around $3.63 per share. As it turns out, the anticipation for the approval is now correcting lower to what seemed to be overbought conditions in anticipation. FOMX 101 is expected to be entering into the market early next year with the hopes of being on shelves for January 2020. This new topical treatment will be entering the dermatology market which happens to be worth several billion dollars. This is very good news for a company that has been anticipating FDA approval for several years, these are make or break moments for new companies. If you look at the chart above, I posted what seems to be a hammer which I am waiting for the end of the day for confirmation. If this pattern holds, this may be a reversal pattern to hop into FOMX to join the reversal towards December price targets between $3-$6 dollars. Watch to see if the hammer pattern holds, then watch to see if the reversal in confirmed. If we see a reversal, we may be looking towards short terms gains of 25% and higher. Option markets are pricing in a high volume of $4 and $5 strike price calls for december. Cheers, AC
FLong
by RayleWoodInvestments
Hammer TimeThe past 2 days have gave us some glimmer of hope with BTC flirting with 11000 after bouncing from its 9400 level. From my talks with other traders, most are bullish towards the upside range of 12000/13000 but expect some choppiness along the way. Since flirting with 11000, price action has pulled back a bit. On my previous Idea published, the bounce from 9400 was the 4th times its bounced off that level this summer. And this bounce seemed a bit different. Different in a bullish way with a PT of 12352 that i still hold and eventually reaching to 15000 in the coming months. But for now, as we can see in the split screen view, the 4H time frame still shows BTC holding up well above the ichimoku. But the 1H is painting a slight pullback, possibly bouncing off the .382 fib level (traced from the ~9450 low to the ~10827 high) while cutting into the ichimoku. That 10827 high has also produced a reversal hammer candle. Possibly confirming the pullback down to the .382 level of 10274. Initiate (near term): Sell 10576 | Buy 10274 (~3%) OR Initiate (short term): Buy 10274 | Sell 12352 (~20%)
BITSTAMP:BTCUSD
by jiamijiang
3