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3blackcrows

DXY just printed 3 red soldier pattern on the 1day chart3 red soldiers, also known as 3 black crows, is when the price action forms 3 candles in a row of similar body length with very small wicks on both ends of those candles. This usual signals that there is more downside to come. We can also see here that we have now closed to full candle bodies below the ascending channel for the first time. The measured move breakdown target from the channel is at $96. I would not be surprised if we saw a dead cat bounce back up to retest the bottom trendline of that channel as solidified resistance before the full breakdown Also of note is the 200 weekly moving average (not shown here) is currently around 100.25 so that could provide at least temporary support before it reaches the full breakdown target of the channel. *not financial advice*
TVC:DXY
by DrDovetail
3 Black Crow on STORJUSDT## Use: Bearish Candlestick pattern: May predict reversal of uptrend. ## Identification 1. Open: 2nd and 3rd candle patter should open in/ near the previous candles real body. 2. Close: 2nd and 3rd candlestick pattern should close lower than the previous. 3. Three candle sticks close near / at the lower. 4. Condition: Either top of an uptrend or rally. ## Market Psycology 1. In a typical appearance of three black crows, the bulls will start the session with the price opening modestly higher than the previous close, but the price is pushed lower throughout the session. In the end, the price will close near the session low under pressure from the bears. ## Risks 1. The size of the three black crows candles and the shadow can be used to judge whether the reversal is at risk of a retracement. 2. Pattern completes only after closing of 3rd candle. So, market might have corrected substentially and may even reverse and go in uptrend direction. The three black crows pattern and the confidence a trader can put into it depends a lot on how well-formed the pattern appears. The three black crows should ideally be relatively long-bodied bearish candlesticks that close at or near the low price for the period. In other words, the candlesticks should have long, real bodies and short, or nonexistent, shadows. If the shadows are stretching out, then it may simply indicate a minor shift in momentum between the bulls and bears before the uptrend reasserts itself. Ref: (www.investopedia.com) ## Additional Confirmation RSI , <30 ( oversold ) Support & Resistance regions.
by rockeyrockssandeep1994
1
Weekly 3 Black Crows at Resistance.Similarly to what i spotted on the EURUSD; BCH seems to have formed a 3 Black Crows on the weekly after catching some sells at a previous zone of Support/Resistance. It has also reached the Measured Move of a bullish diamond breakout and i have taken my profits. This could be the start of a new downtrend which could take us down to Fibonacci retracement levels or lower. I would be very interested in seeing some bullish signals on BCH at the 0.786 and 0.886 retrace levels until that happens or resistance is broken i'm likely to remain bearish.
COINBASE:BCHUSDShort
by RizeSenpai
Has Top Glove bottomed? RM10 incoming? RM13 incoming?Awhile ago, we have started to see a M shape starting to form on Top Glove. In textbook, we call it the double top meaning price will reverse back to original level soon. This link will help you to study about double top, www.finvids.com But we have no confirmation yet until today 5pm we saw TG closed below RM6.11 key support level also called as the neckline. This therefore now serves as the first confirmation sign TG price will likely soon go lower than RM6. Second confirmation is to see TG breaking RM6 before we can confirm it will be heading to RM5. 2 more things to support this analysis: - All key moving averages have been broken. Look at all the colourful lines, TG is trading below all the main colorful lines now. - There has been a formation of 3 black crows on pass 3 days trading pattern. (Lower lows and lower highs were formed, this indicates further drops in days and weeks ahead.) To study about 3 black crows, please visit the link below: traderlaunch.com With all of these, I think the hope of seeing RM10 and RM 13 per TG will still be far away. The likelihood of incoming RM 4.50 to RM 5.50 per TG has higher chance now. Trade carefully everyone, cutting loss is also a profit taking strategy if you are not comfortable to see this falling knife upon your hard earned savings! More updates ahead soon! Wishing you all a happy new year 2021!
MYX:TOPGLOVShort
by livegreat
4
Cardano Bitcoin FC, Looks TerribleHi friends! Welcome to PoopTrader's bearish forecast for Cardano Bitcoin Futures Contract. While hype is all around Cardano as the next train to ride, I've been following it for 3 weeks for a good trade set up but sad to say for the bulls, it doesn't look any good right now. There are a lot of reasons for this as the chart is full of bearish signals. 1) A Bearish Gartley Variant formed. 2) A Hidden Bearish RSI Divergence signal appeared after it failed to make a higher high on its price while RSI made a higher high. 3) The 3 Black Crows candle stick pattern which is a bad omen is likely to complete after the 3rd candle close. If it manages to complete the candlesticks pattern, this will confirm the bearish trend for $ADA. Once confirmed, this will likely push the price lower to break a trendline support and will result to yet another bearis formation which is the inverted bump and run pattern. Caution should be exercised in this trade setup because the initial drop did not have significant volume and can be deduced as a bullish drop. A bullih trade setup will likely form after this. This is just a guide, not a trading advise. Hit like and follow for more chart updates! Thanks -Your Bearish Poop Trader
AShort
by PoopTrader
23% fib bounceI'm still very new to analysis and not yet actively trading. Just getting practice making calls to see if I'm right. Feedback welcome! I'd love to hear some tips and tricks from more seasoned traders and what you think of my analysis. Yesterday I talked about a falling wedge forming (see related ideas), which turned out to not be as strong as I thought and I ended up being pretty wrong. I'm realizing I may be too zoomed in when looking for trends. I've started looking at the 60 minute instead of the 30 minute today, and zooming out for several weeks when considering my patterns, even my small intra-daily patterns. Today, it looks like we're set to drop back down to the 23% fib around $12600 which I would say is a good entry point not just for a quick trade on the rebound, but possibly for a larger upward week-long swing, which I've stated before that I believe is coming off of this fib due to a strong support line shown back on the 30th & 31st, as well as the 22nd of December. Like I said yesterday, I wouldn't be surprised if this brings us back up to the high $16000s Things to note: Interesting but unrelated: The yellow box shows a "3 black crows" candle pattern which is confirmed by the big selloff candle right after. Take a look at that volume! I was just reading about this pattern and was happy to see such a clear example in the last 24 hours. This huge volume selloff was immediately trumped by an even larger volume buy-in. I think a lot of traders were thinking this was the new bottom, but I think we've got one more selloff to go before we get back up - the cloud is still bearish as ever. There are a variety of ways I could be wrong. We'll see. Let me know what you think!
COINBASE:BTCUSDLong
by Treefort