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.
Hammercandle
Trend Reversal in SMF, expecting it to rise at least 9%Bulls are taking over.
Indicated by the strong bullish hammer and stochastic turning from the oversold area.
Added in MACD to further enforce the arising bullish trend.
Shows signs of being a good growth stock but definitely worth swing trading over the next two weeks.
GBPCAD DAILYPrice came down to its daily uptrend line to make a higher low, rejecting the 50% fib level & forming a hammer candle above a strong key support level, I believe price will make its way up to make a new higher high & continue its uptrend..
BEARISH CYPHER ON AUDCAD. TOOK IT'S SWEET TIME!I'm looking at a Bearish Cypher Pattern on FOREXCOM:AUDCAD , which after weeks of watching and waiting has just completed today on the Daily Charts. This is a short term play so we can anticipate a week or more to targets if the pattern plays out as anticipated.
Having been in consolidation since September, price action broke to the downside support of the consolidation zone last month.
Anticipating retracements back into the consolidation zone, I am greeted with the Identification of the above mentioned Bearish Cypher setup which as mentioned has now completed, with Stochastics (12,3,3) showing as overbought.
From here I will be looking for an entry basis on the lower time frames (usually the 1H) to get involved in this trading opportunity.
Targets will be as usual the 38.2 and/or 61.8% retracement of the CD leg of the pattern.
If extended targets are to be considered, I would be cautious in shooting for anything lower than the lows of the pattern as price action has found support at these levels which happens to be significant weekly support at about the 9627 price level.
To see continued downside on this pair, not only would price action have to close below the 9627 level, but we will also need to see a close below the lows of the pattern on the 6th of this month, which incidentally produced a strong looking hammer candle, indicating significant buying pressure at this level.
STRUSDT Long10:1 RR risk 30% gain 300%?
Williams Trader says enter, the volume is gaining rapidly as we break the hammer candle pattern level, plus the BO of the purple mid line of the fork looks like a great upside signal.
TP at the top lvl (100%) SL if we close below purple lvl (50%); another way to trade this is wait for double up and sell half to get back initial cost.
Manage your own risk however you prefer, these are just how I am looking at this trade atm
Gl Hf
xoxo
sn00p
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.
GBPJPY 4HHammer to 50 fib / support, Still in an uptrend on the weekly making higher highs & lows. I entered already & will add positions after the break of the counter trend line / resistance.
EURUSD Weekly Trade AnalysisEURUSD > 10/15-20/17 Trade Analysis
Timeframe: 1W
Previous break of strong Hammer signals possible very strong bullish trend to continue up to 1.21000 level.
Firm break and hold above 1.21000 expecting further rise to 1.25000 level where fall is expected to begin toward 1.167000 level.
Current expected closing price @ end of month is now projected near 1.19000 level due to strong bullish trend analysis.
High volatily expected as I believe we are in the "wacky" season where up is down and down is up!
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.
USDCAD I'm waiting for good signal for another short sellI expecting pair to meet 200 ema again. I think pair will be stopped by 200ema and this is the time I will be looking for short position. My TP is 1.2254. I almost certain like most traders here that his pair will reach 1.200 sooner or later but currently can't find good entry point.
EURAUD 4HPrice made a false breakout once the market opened but came back into its channel. Price looks to be making a hammer candle rejecting supply zone. If price can manage to stay within its channel I will be looking to go long. Entry would be at the pink lines, and I have one set for both directions. We will see how the euro comes out this week & Aud news tomorrow.
Trade with care!
Stratis refused to go lower :) Update to update of another udate...in previous idea about Stratis I expected that in few days hammer appear on chart and will create double bottom. I didn't happen but we have interesting situation here anyways. There is hammer and it hanging on the GAP which is good and also wick touched perfectly less use but very important Fibonacci level 14.58 or something close to it. All this values are in relation to each other by dividing or multiple it by 0.618 or 1.618, check it for yourself.
Idea about TP is the last highest high but I think It could go as high as possible.
I would also expect some issues around double top area
EURAUD 4HMultiple rejections to support zone, price may be looking to push back to the upside.. Possible hammer candle forming here as well entry @ (pink line).. Only safer setup I see at the moment as this week has been a bit slow. A break below supply zone I will consider 1.47 daily support a possible target.
