Bearish Engulfing
POTENTIAL BEARISH GARTLEY PATTERN ALMOST COMPLETE!If Pattern completes and all my confluence ads up i will go short on the Gartley Pattern lets see what the market gives us.
EUR/USD - Strong Bearish Engulfing Candle Signaling BreakoutA very powerful bearish engulfing candle formed today on EUR/USD. There seems to be an overall bearish sentiment forming on all Euro pairs. This signal looks nice forming below resistance at (1.4400) and being significantly more powerful then any of the consolidation we have seen over the past week or so. Looking for a tight 1:2 RR if possible, but playing this conservatively considering we are currently range bound in the big picture
USD/JPY - Bearish Engulfing Candle Retesting Trend LineA great bearish engulfing candle formed on a nice retest of a long term bullish trend line after breaking through back on 03/17/16.
Intraday charts showing bullish pressure being broken down and the bears completely taking over.
Easy 1:1 RR to the recent lows and from there price could dip all the way to 106.00 for closer to 5:1
NFP coming up can stir up some concerns, but im trading this completely technical.
AUD/JPY - Bearish Engulfing Candle On Strong Trend LineStrong Beairsh engulfing candle breaking past 4hr chart phase line on AUD/JPY. Add to that this happening on both strong resistance and long term bearish trend line, it's a match made in heaven.
- Bearish Engulfing Candle 4hr
- Rebound of long term bearish trendline
- On strong resistance at 86.500
- Lots of room for good RR
AUD/USD - Bearish Engulfing Candle on Key Resistance + TrendlineNot the cleanest, but still a convincing naked set up on AUD/USD. Nothing is better then price reacting to the intersection of key support/resistance and a long term trend line. My favorite set ups!
- Price stalled out at key resistance of (0.76000)
- Bearish engulfing candle 1D
- Double top Pattern (4hr)
- Bouncing off long term bearish trend line
- Aligned with trend
EURGBP - Weekly outlookWeekly
- Bearish engulfing
- Cross and close below 200EMA
- Break and close of rising weekly channel (18 week uptrend)
- RSI bounce from overbought territory
Aud/Usd bearish trend continue soon?Found a good setup on 4-hourly chart with multiple confluence.
Fibonacci Level 61.8%(the golden ratio) is great to use with a solid Price Action setup.
I will be looking to short here with protective stop just above the 76.4% and target zone will be position around -61.8% (which is somewhere around 0.65500)
Happy Trading & Enjoy the Good Weekend.
Bearish Engulfing candlestick has formed on Weekly EUR/USD chartA Bearish Engulfing candlestick pattern has formed on the Weekly EUR/USD chart. I just posted a Dark Cloud Cover candlestick pattern the other day. EUR/USD seems to want to trade sideways right now, after moving down after the FED raised rates. Happy Trading!! Happy Holidays!
USD/CHF Bearish divergence set upShort set up on USD/CHF by taking cue from:
- bearish engulfing bar
- resistance at ~1.0080
- Stochastic and RSI bearish divergence
entry - below low of bearish engulfing bar
stop loss - above high of bearish engulfing bar
target - previous support level
Opening week sell possibility 1 - EUR/USD1. EUR/USD
EUR/USD rebuffed the ~1.1430 resistance area, the fourth time this year, and the 200 ema closing on Friday as a bearish engulfing bar. A ranging pattern between 1.1430 and 1.0820 is quite apparent. Although it can be argued that signs of an up trend are noticeable since July 2015, a retest of price at the previous low at 1.1080 or trend line in the nearby area showing bullish signs for upward continuation should confirm bullish momentum over the nearer term. For now, I'm taking my cue from the rejection behaviour around 1.1430 and look to sell EUR/USD.
entry - below low of bearish engulfing bar
stop loss - above high of bearish engulfing bar
target - around 1.1080
A sell-off may continue on the S&P500, Nasdaq 100 and UK100On the S&P 500 and NASDAQ100 indices, closing as a high test bar in the resistance zone, and a bearish engulfing bar on the FTSE100 (UK100) stock index, a sell setup is in order suggesting potential bearish continuation on these three (CFD) indices, following the recent sell off on major indices.
1. S&P 500
The rejection/resistance zone on the S&P 500 comprises the following:
- retest of the 50 ema;
- retest of ~2011; and
- 50% retracement, and close below.
Oscillator convergence, as shown on the chart, is seen as an additional argument to enter a potential continuation of seller based momentum in this index.
entry - below high test bar
stop loss - above high bar
target - previous low or lower
2. NAS100
Since the major global indices demonstrate price behaviour correlation, an almost exact set up as on the S&P 500 is also forming on the NAS100.
entry - below high test bar
stop loss - above high test bar
target - previous low or lower
3. UK100
The FTSE100 is in a very clear down trending environment. Three key reasons of a potential continued price decline are:
- close as a bearish engulfing bar;
- a strong bout of resistance at ~6250; and
- rejection of the 20 ema.
entry - below low of bearish enguling bar
stop loss - above high of bearish engulfing bar
target - at previous low or lower
EURO YEN POSSIBLE 3rd TREND LINE TOUCH?EJ may have just put in a 3rd touch on the weekly decending trend line. The month of June EJ retraced to the 61.8% fib, will it hold? Last week produced a hammer bar and this week may end as a bearish engulfing with a possible CTL break. Could we see the lows of 126.000 and further down to 119.540?
Shorting Gold to join the downtrendPrice has pulled back into the declining trend line (on both the weekly and daily chart) where today's bearish engulfing bar is looking to close below the 100 ema. Encountering resistance in the 1170 - 1180 area, price could ricochet off this rejection zone giving short continuation entry on Gold (XAU/USD).
entry - below today's engulfing bar
stop loss - above today's engulfing bar
target - previous low or lower
