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Hammercandle

Time to buy SPX500, RSI Divergence, Candle Hammer, Trendline RevSo 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.
OANDA:SPX500USDLong
by CrisBarr96
BTC first more significant correction/wick bellow 10250$.BTC first more significant correction/wick bellow 10250$. So far forming a hammer doji , but we need more information before confirming/assuming a more positive directing. The situation can easily turn and the hammer doji can transform into a hanging man pattern quite easily. So far staying neural to moderately bullish. Remember not to over leverage your trades as moves between 3-5% will happen more often than you think (especially at resistance).
BITSTAMP:BTCUSD
by megaprofits
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
EOS Elliott Wave Theory (Revision)Looking back at my previous assumptions in regards to this Elliott Wave pattern and in combination with the Ichimoku indicator, I initially underestimated the depth of the correction and thought that we may have more support in the form of a Kijun bounce before making a move into the cloud and a potential edge to edge move once within the cloud. While still learning many aspects of Elliott wave theory, I believe that the ABC corrective move could now be complete. In an ABC pattern, Wave C can typically be 123% – 161% of wave AB which looks to fit into the current fibonacci measurements well. This week's candle is forming a bullish hammer reversal pattern. In the medium term, I think a move into the cloud and a subsequent edge to edge move within the cloud is still possible with a price target around $12.23. This price target is represented by the long, flat top of the kumo cloud which acts like a magnet. The longer the flatness of the Kumo, the more powerful it is as a support or resistance level and the more powerful this Kumo magnet becomes.
BITFINEX:EOSUSDLong
by JoelRBishop
2