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Shooting Star

Dow in Throwover: Short EntryThe slip-slide has begun. Could surprise us with a last-ditch retest from here, but futures are grim and price action = bearish. After an exhaustion gap - up we had a shooting star doji on the 2-hours 8/7 and an engulfing bear candle 8/8 end of day. High probability given these signals the Dow is in throwover. A sharp decline might ensue following rejection from 25688 on 8/7. See links to my other posts re: possible depth of a pullback. Bear in mind real possibility of this being a left shoulder & head formation, with right shoulder still to come. Enter shorts with caution and keep stops tight in event of a final rally attempt back to the 25630 area. Retest of lower channel line seems unlikely but possible. Target zone R1: 25240 -25360; R2: 24940 - 25060. R3 24660 - 24780. Expect a powerful bullish pivot leading to a breakout wave up from channel.
DJ:DJIShort
by DaddySawbucks
9
BTC:USD DAILY UPDATE (day 152)Previous analysis /position: Ichimoku clouds turning bullish. Green 2 > Green 1 on the weekly. First time we have traded above the parabolic SAR since the bear market started. Incoming death cross on the 50 & 30 week MA’s. Largest volume profile over the past year is $7,576 to $8,287. 0.382 FIB = $8,496 / remaining on the sideline while waiting for further development. Patterns: Higher low at $7,900 is it in the process of making a lower high below $8,288? Horizontal support and resistance: weak R: $8,277 strong R: $8,490 | weak S $8,140 strong S: $7,745 BTCUSDSHORTS: Long:Short ratio = 60:40 | Still testing 18,500 for support. Funding Rates: Longs pay shorts 0.0749% 12 & 26 EMA’s (calculate % difference): 12 = +4.84% | 26 = +11.01% 50 & 128 MA’s: 50 = +20.49% | 128 = +7.85% | Just made bearish cross on 3D + trading in the wick on a shooting star could provide low risk entry (stop loss above shooting star wick) FIB’s: 0.382 = $8,496 | 0.5 = $10,677 Candlestick analysis: Daily hanging man yesterday and bearish spinning top forming today. 3d shooting star Ichimoku Cloud: Still inside bearish cloud - traditionally considered a no trade zone. Top of the cloud is $8,700. 3d cloud is starting to thicken. Currently testing weekly Tenkan-Sen for resistance. Tenken-sen support on 12h. TD’ Sequential: G-1 following 4 candle correction on daily. G-2 > G-1 on weekly. Visible Range: Largest volume profile over last 24h = $8,175 | Last 5 days = $8,208 | Last month = $7,433 | Last year = $7,560 - $8,287 BTC’ Price Spreadsheet: 12h = -0.5% | 24h = +0.98% | 1w = +10.57% | 2w = +28.84% | +39.74% Bollinger Bands: Testing top of 3d band for resistance. Back above the weekly MA. Trendline: Daily Trend: Connect 7/16 to 7/27 | currently in danger of breaking down. Fractals: UP = $8,490 | DOWN = $7,203 On Balance Volume: Establishing lower high/bear flag/potential h&s Chaikin Money Flow: Weekly trying to break through 0.05 | Daily looks like it is struggling to establish a higher high. Buy/Sell Sentiment on Trading View (countertrade): Oscillators = Buy | MA’s = Strong Buy | Summary = Buy RSI: Daily looks very similar to OBV. Weekly is > 50. Stoch: Just made bullish re cross on daily in overbought territory | Weekly shows plenty of room to go. Incoming sell signal on 3d. Summary Very interested to see if we establish a lower high on the daily chart. Price pulling up and into death cross on 3d chart could be providing a good short sale entry. The shooting star on the 3d is very bearish. The trendline breaking down would provide confirmation for a bearish entry. The visible range volume profile shows the most resistance at current price levels when looking back 1 year. Cannot recall the last time it was this expensive to hold a long on Bitmex. That indicates that too many people having been taking the same side of the trade and I strongly expect a long squeeze to be on the horizon. Possible Entry Could open a short at the current price level (one third of the desire position) due to the 3d death cross combined with the shooting star, horizontal resistance, visible range volume profile and the upcoming sell signal on the Stoch. $7,600 and $6,800 have been identified as strong levels of support. If a bounce from $7,600 leads to a lower high then it would be time to add another third. If a bounce from $6,800 leads to another lower high then it would be time to max out the position. Stop loss at $8,560 provides an attractive risk to reward ratio and can be adjusted with each lower high. I am still watching the triangle on ETH closely and will likely be trading it instead. It does not have the same support below the current price and is also offering a better risk:reward ratio. Click here for my full analysis.
COINBASE:BTCUSDShort
by Sawcruhteez
Past history candlestick analysis for Hartalega On March 8, 2018, an Inverted Hammer + Bullish Engulfing appeared, signifying a change to the down trend. This is further confirmed by the support line in blue. Stock rallied for roughly a month plus until April 12, where a Hanging Man appeared (Note the Hanging Man is not as potent as a Shooting Star, but it still gives the signal that the bullish trend is coming to an end). The trend then start to change. Stock goes downwards and tumbled, until a bullish engulfing pattern emerges on April 25 - 26. Interestingly, this happened 3 times! Triple bullish engulfing pattern! This also serves as a support line, which supported the price level on June 28 - 29. Stock rallied up and hit a bearish Harami pattern on June 11 - 12, signalling that bull has lost it's momentum. Stock drops and hit the support line where a bullish engulfing pattern appears, and then goes upwards until it hits a Doji on July 2. Market comes to a neutral tone and market is unsure to go up or go down.. in the end it goes downwards. Price could go further down until it hits the support line and change upwards, depending on the candlestick formation at that time. If it goes down it would hit the second support line formed by the inverted hammer. Notice the MACD histogram is showing an upward trend, signifying an uptrend of price.
MYX:HARTAEducation
by antaeusguy
SOGO shooting star short set upHere we have a short set up for SOGO,which has gone up a whomping 75% in the last 2 months on speculation. Yesterday we had a high volume shooting star, a common reversal pattern, and arguably a 'blow off top'. Today we retraced along the wick of that shooting star, creating a short opportunity for brave traders. I believe win probability is below 50%, but a tight stop can make up for that. Target is 13.01, or as low as volume node at 9.45. Cheatsheet on shooting stars: i.imgur.com
SShort
by autemox
1
BABA bearish bat pattern and daily shooting star combinationBABA is a stock that pays good respect to harmonic patterns as it went several patterns in a row since last December. After its earning day rally, it's hitting the bearish bat area and gave a shooting star in front of 200 fig. Frankly speaking , I am much more bullish on BABA based on its business, so this pattern has more meaning to take profit on the long rather than opening a new short for me. After all its a nice daily combination in terms of harmonic patterns trading, with abundant EMA correction rooms. Let's see how it goes!
NYSE:BABAShort
by Trader_Joe_Lee
2