ETHUSD Shows Hammer Candle - Go Long - FortitudeThis same setup is occurring in most other cryptocurrencies, BTC', LTC' etc. This trade takes guts and why I call it the Fortitude setup.
Go long a break above the high of the Hammer Candle.
Hammer
IOTUSD hammerIf I had a hammer I'd hammer in the morning
I'd hammer in the evening all over this land
I'd hammer out danger, I'd hammer out a warning
I'd hammer out love between my brothers and my sisters
All over this land
Inverted hammer on weekly $BTC. But week’s not over yet. If this candle was formed after a Friday close, I’d say $BTC
would be heading down.
Let’s see what the next 2 days bring.
Daimler (Mercedes)Pretty nice opportunity on german equity market. Daimler's dalily chart shows growing bull's volume, a hammer and a triangle pattern. All togheter these three elements indicate that a bull trend is soon coming, even for the long term.
GBPUSD 0.618 retracement and hammer combinationGBPUSD has a 0.618 retracement after the rally, and it gives a very significant hammer that shows huge buying pressure.
Most of the time, I prefer to trade hammer with the breakout strategy.
While in this case, the hammer is just too long to trade it directly, so I would more like to wait for the 0.618 retracement of the hammer itself.
Strong Bullish Hammer buy signal for BTC. GO LONGBTC broke down below the uptrend support line, and dumped sharply down to the .786 fib retracement area, where buyers quickly stepped in. This buying pressure then formed a bullish hammer on the 4hr chart, which looks a good entry to go LONG toward a new ATH.
Previous strong hammer buy signal was very successful on the 18th of October.
Enter around 5520
Target 1 5850
Target 2 6200
IOTA Bullish Candles - Back to 1$IOTA made two hammers around the 0,786 fibonacci. It is time to buy IOTA. Target will be at least around the old high 1$.
ATVI Daily Gartley pattern ATVI has a daily gartley pattern after news about the downgrade on concern of Overwatch Esports.
It gave a daily hammer while it's not quite close to the gartley entry, so I'd rather to wait a better reversal sign @ 59.50-60.50.
57.50 out could be good enough, let's see how it goes!
Ethereum Appears to Have Bottomed (as well!)Almost the entire cryptocurrency complex rebounded today, following two days of heavy selling. The appearance of one of my favorite (and only) chart patterns I pay attention to gives me the confidence to write this note. I've been trading the markets since 1995, and in that time I've realized that there is vastly more "technical analysis" that DOESN'T work, than does. One of the few things you can have confidence in the markets is the appearance of a HAMMER candlestick pattern following a sell off. And there seems to be a logical explanation for its formation. Markets are made up of small investors and huge institutional investors, market makers, hedge funds, and other large investors. These well-connected investors tend be better informed than those of us little guys. There is a vast amount of information available on the internet for the HAMMER candlestick, but I will briefly summarize it by saying that it is a candlestick with the open, high, and close, all within relatively close distance to each other, and a long tail for a LOW of the day. Essentially what is happening is large investors are purposefully forcing the price down taking out stops as it plunges. They are essentially picking up cryptocoins (or whatever it is you're trading) on the cheap! After they have accumulated the available supply at low prices, the price is forced back up. The more thinly traded the market, which cryptocurrencies are, the more the technique works. That's why I've highlighted a number of them here on the chart. It's a strategy works, and will continue to work--until it doesn't. ;)
Litecoin Appears to Have Bottomed Almost the entire cryptocurrency complex rebounded today, following two days of heavy selling. The appearance of one of my favorite (and only) chart patterns I pay attention to gives me the confidence to write this note. I've been trading the markets since 1995, and in that time I've realized that there is vastly more "technical analysis" that DOESN'T work, than does. One of the few things you can have confidence in the markets is the appearance of a HAMMER candlestick pattern following a sell off. And there seems to be a logical explanation for its formation. Markets are made up of small investors and huge institutional investors, market makers, hedge funds, and other large investors. These well-connected investors tend be better informed than those of us little guys. There is a vast amount of information available on the internet for the HAMMER candlestick, but I will briefly summarize it by saying that it is a candlestick with the open, high, and close, all within relatively close distance to each other, and a long tail for a LOW of the day. Essentially what is happening is large investors are purposefully forcing the price down taking out stops as it plunges. They are essentially picking up cryptocoins (or whatever it is you're trading) on the cheap! After they have accumulated the available supply at low prices, the price is forced back up. The more thinly traded the market, which cryptocurrencies are, the more the technique works. That's why I've highlighted a number of them here on the chart. It's a strategy works, and will continue to work--until it doesn't. ;)
JD, Bullish Cypher patternJD.COM rallied from 20 to 49 within a year, and after it failed to break 49 fig level in 8/8 in addition to the earnings report in 8/8, it plunged about 20%.
JD is one of the most competitive competitor with BABA, as this BABA rocket keeps on surging to the sky, JD should also be attractive to those who are too scared to buy BABA above $165.
Based on this bullish Cypher pattern, it suggests to buy around 40.
While as always, I need at least one more reason to convince me, so I'll focus on if there are
1. Hammer
2. Double bottom
3. inside bar breakout
happened here , I don't mind if it happens on smaller time frame.
If so, it might be a good try to long and the potential out is below 38.50.
IRWD LONGWe see IRWD trading in an ascending cannel, yesterday left a hammer in the trend line of the channel with a really nice volume. Maybe we are late, but I would wait for a pullback to 15.85 to enter long. The first TP is in 17.7, but I will with to see it in 20.
KL: 15.85
SL: 14.90
TP1: 17.75
TP2: 20.00
USDCHF Daily Bat PatternUSDCHF completed the bat pattern today, to trade the bat perfectly we'll have to risk about 100pips.
While like how I applied harmonic pattern these days, I'll wait for the following potential reversal sign to long USDCHF rather than put a buy limit to fight with the trend.
1. Significant inside bar breakout
2. Hammer
3. Double bottom
Not only on the daily chart but also on smaller time frames, if the market didn't give any of these in any time frame, then I probably won't long this pair.
If so, as a harmonic pattern learner, of course it's worth trying!
Daily Long Opportunity on GoldGold has came back down to the 100 SMA on the Daily timeframe which is also in confluence with a support level. On the weekly timeframe, a bullish hammer has formed and to make this trade even better, in terms of oscillators, gold is oversold. TP for me is the previous weekly high and my stop will be just under the weekly bullish hammers low.
[WTIUSD/USOIL/CL1!/CLM2017] Reverse Head and Shoulders
Reverse Head and Shoulder pattern => Right Shoulder
Bullish Gartley Hamonic pattern
Zigzag pattern abc
Motive wave => Elliott wave 2
Basic Trend line
---------------------------
Hammer Candle possibility
WTIUSD USOIL CL1! CL2! CLM2017
BTC update This is update to my previous Idea regards BTC. Based on this chart I assume that 1000$ mark was defended and strong bullish trend should continue for some more time. BTC is making new highest highs while I'm posting this Idea(well at least on this chart). I strongly believe that the BTC will hit 1700 1800$ mark some time in the future. I also believe that 3000$ is very probable as well but I'm not sure when it will happen. I marked strong support/resistance close to 1300$(blue rectangle). This area should be tested and then BTC should move north. Recent informations regarding BTC future didn't change strong bullish trend that much.
Please don't take it as a trading advice it is just my thought.
USDCHFPossible Kangaroo tail on current 1h candle!
sell stop @1.00140
SL: 1.00390 (25pips)
TP: 0.99640 (50pips)
GBPUSD Shooting star @ Resistance Good sell opportunity with a shooting star at a strong resistance area. A good target would be 1.23000, and an initial entry with this shooting star would be good at the current price if it remains this way until the Sunday open.
