QQQ: Bearish Island Reversal + Bearish EngulfGiven the recent price action of AAPL, GOOG, FB and company, this should come as no surprise, but if anybody needs more convincing of the bear case, here you go.
Bearish Engulfing
DXY 4HAfter price made a fakeout to the upside, leading with a strong bearish engulfing. Price as I mentioned was in consolidation yesterday & happened to break to the downside, moving dollar pairs south last night. Price is now heading back to weekly support 88.60 where I will watch for a rejection or bounce back to the upside.
USDCAD DailyPrice came up to test the 1.30000 region quickly pushing back down 130 pips back below 1.29200 Key level. A lot of important CAD data tomorrow could see a return of bears on this pair.
AUDCHF 2HPrice making a double top at strong previous support now resistance. Watching for a break of the counter trendline to go short. Last time was above the pink zone, price made a double bottom then made a strong move away from this zone. Vise versa of what price is looking to do now..
EURJPY 4HPrice broke out of its daily consolidation box I was initially hoping it would break to the upside, however Friday the market closed with a 4 hour bearish engulfing breakout & now looks to have validated the broken zone as new resistance. Will keep an eye out for a reversal candlestick pattern to the supply zone price is currently below
XAUUSD 4HBearish engulfing rejection to weekly resistance.. Awaiting breakout of channel & support for shorts down to potentially monthly key level 1300
BTCUSD 4H (Bitcoin)Price broke under daily support with a bearish engulfing candle & now price is underneath its uptrend line.. Watch for a close for a bearish signal, price is now in a range of support and resistance & could consolidate for some time completing its right shoulder to finish off the Head on shoulders pattern it looks to be creating. After the recent bitcoin scandal of over 64 million dollars stolen, this could be the time where bitcoin finally has its first bigger correction!
NZDJPY - Bearish EngulfingNZDJPY has formed a 100 score bearish engulfing pattern on the daily time frame.
The significant bearish engulfing is in the direction of the long term down-trend.
A very strong Bollinger Band out-break confirms this setups.
A move down will confirm the start of impulse wave 5.
Strong support formed at 79.3. SL set above previous highs.
TP set at strong support. 1:6 risk to reward ratio.
I will close this trade upon the close of the first opposing significant engulfing.
AUDJPY - Short setup has formed on the daily. Sell limit set.Engulfing takes out full range of previous spike candle/gravestone doji. Pending order set to take a 2:1 profit at the lower resistance where it gets a bit wicky.
EURAUD - Bearish EngulfingEURAUD has formed a bearish engulfing on the weekly time frame on 10/12/2017 with a strong upper Bollinger Band out-break at a previous high.
RSI divergence on H4 time frame.
Engulfing formed after a bounce off of the strong support level.
Bearish engulfing also formed on the weekly time frame.
SL set above previous highs.
TP set at previous support.
1:5 Risk to reward ratio.
I have entered at the open of the market on 10/13.
My SL is now moved to break-even after a significant drop on 10/13.
AUDJPY D1 SHORTDialy Resistance and bearish engulfing, might be good setup for short. Not in position yet, maybe looking for some retrachment up for good RR.
GBP JPY SHORT OPPORTUNITY - D1 Bearish Engulfing, H4 QuasimodoStill waiting for high impact news of JPY, possible spike up. No matter how good the setup is, trade lightly and wisely .
AUDJPY SHORT OPPORTUNITYBearish Engulfing on Dialy. Right on the top of triangle formation. Might be a good oportunity for short.
EUR/GBP bearish engulfing @ key level08/09/2017 EUR/GBP close below 0.91496 (10/2016 min.)
Candlestick pattern: BEARISH ENGULFING
Apple Inc. time for short sell?? Look at the chartTop companies like Facebook amazon Tesla Google etc. experienced very strong bullish movement for the last 10+ years.
I think that this rare candle stick pattern on weekly chart is suggesting bearish movement.
Two Black Gapping which according to the Bulkowski’s book it has probability of 68% that the market will follow the signal. When You will look at the chart it is very visible that the market has problems to go above this huge GAP.
ON monthly chart we see very nice Bearish Engulfing pattern
I see here good opportunity for short sell with probability of strong bearish move in the medium term.
I think 100 is reasonable TP area.
Starbucks Shares (SBUX) Time To ExitSBUX is setting up a bearish pattern on the monthly and weekly chart with a double top pattern, a bearish candlestick pattern and bearish divergence. Expecting price to go down. Time To Take Profits and Exit
What Are They Serving At Starbucks (SBUX)SBUX Weekly Chart Looking Bearish with #bearishengulfingsignal and #doubletoppattern
Bearish engulfing patternThe price created Bearish engulfing pattern on the chart. This is reversal signal of the uptrend move.
Taking into account situation on lower timeframes, where the bulls are taking action, I'm expecting the ETHXBT to return above level 23,6% of drawn fibonnacci retracement. When this occurs, it will be the best moment to open short position.
Moreover there is Bearish Divergence on RSI, however this signal in my opinion is not very strong.
The take profit level for me is below 0,07.
The coming weeks will belong to bears.
The Bitcoin is getting segwit, which in opinion of many people is very bullish signal, that's why the money will move to it.
The worsening situation on ETH market will probably impact many incoming ICO's.
Head and shoulders reversalShort term bearish move with good risk reward.
Head and shoulders reversal pattern.
Breakout to downsideCharts quite messy.
Trade down to new lows.
Looking to enter after a more apparent breakout.
May take profit 80 pips in.
