GBPUSD ShortOANDA:GBPUSD
GBPUSD broke support and made a retest at 61.8% fib prz. It further made a bearish engulfing candle on the lower timeframes
and the EMA and SMA crosses gave extra confirmation for a sell setup.
Bearish Engulfing
GBPUSD ShortOANDA:GBPUSD
GBPUSD broke structure and made a retest on resistance along with a bearish engulfing candle
Bearish signs on EUR/USDHello everyone. Here we have the EUR/USD daily chart. The trend here is still bullish, but we have to keep in mind that the trends of higher time frames are bearish, and we also have a few bearish signs on the daily chart. First, as you can see, the price tried to climb higher, but after that we could see the W&R pattern and the downward action started. Also, the whole situation is not in favor of the EUR at all. There are many worrying factors that pose a big risk to the EUR and with that in mind there is no reason to be bullish on the EUR. So, on the daily chart we have a perfectly formed bearish engulfing pattern that suggests a downward continuation. From a technical point of view, strong support is around 1.0900, where we also have Yearly Pivot Support 1. Strong resistance is around 1.1121. However, I don't expect the price to drop to 1.0900 without any correction, so some retracements could happen, as always. My suggestion is to take advantage of the first retracement that will happen and find a good short entry.
Gap Fill to take us down 36%Showing extreme amounts of bearish divergence on the daily, breaking immediate trendline and bearishly engulfing on the daily a pullback to the $326 area seems likely.
AUDUSD SHORTList of confluences:
1: Double Top/ M Pattern at high.
2: Bearish engulfing candle stick pattern
3: Key Level Breakout
Risk reward for this trade is a around: 3.62:1
GPUSD ShortOANDA:GBPUSD
GBPUSD formed a double top, and broke structure(NECKLINE/SUPPORT)
and retraced at 78.6% and has created confluence with a resistance line
and a bearish engulfing candle formed creating a high probability confirmation
for a sell on GBPUSD.
ATOM SCALPING Atom seems to hit a strong support, while it has broken the Bearish trend line, I think the candlestick pattern( something like an imperfect bearish engulfing) form at the level of a dynamic resistance would lead the price to the support 25.67 to 25.38 USDT for the last time and after formation of a key level we could see growth to 27.49 to 27.67 resistance. also Follow line Indicator along with Hull moving average Band show some signs and signals of change in Trend, so after formation of fist candlestick pattern reversal patterns getting LONG position would be a good choice
GOOG: Time to buy the DIP? Complete analysis (H,D and W charts).Hello traders and investors! Let’s see how GOOG is doing today!
First, we see a good reaction today, in the 1h chart, as the support area between the two black lines at $ 2,667 - $ 2,651 is holding the price nicely.
Right now is a good time for a bullish reaction, and GOOG could fill the last gap at $ 2,747.65. However, in order to reverse, we must see a stronger bullish structure, because the trend is still bearish. We see nothing but lower highs/lows, and the 21 ema is descending as well.
This could be a sign of exhaustion, but it is too soon to tell. Let’s look for more clue in the daily chart:
What I find curious is that GOOG is dropping with low volume. Its volume has been below the average since Feb 8, indicating that it is not dropping because of sell pressure. Instead, it just looks weak, and the price will get more and more discounted, until GOOG becomes attractive again to investors.
The weekly chart offers more ideas:
In the weekly chart, GOOG did a Bearish Engulfing last week, just under its 21 ema – not a good sign. It seems it could drop more, maybe to the previous support level at $ 2,492.84, but this is where things get dangerous.
If GOOG loses this support, it might trigger this Head & Shoulders chart pattern, and this will officially trigger a bear market on GOOG. Of course, this scenario wasn’t triggered yet, but it is important to pay attention to the signs it is giving to us right now.
I’ll keep you guys updated on this, so, remember to follow me to not miss any of my future analyses.
IBKR share reversal pattren spotted.Hello dear fellow traders !
Today i spotted a reversal bearish engulfing pattren in interactive broker stock, as we can see in chart that after a minor uptrend prices has reversed and form a candle which looks like sellers are totally in control and share can continue towards down trend and we can get 3% to 4% in profit's.
Thank you.....
SLP-USDT UpdateIt seems like SLPUSDT had a false breakout and the resistance line is still intact. It is probably in a correction phase after a great run up.
There is a battle going on in the circled area.
A bearish engulfing pattern is present on the daily so can expect more downside action possibly to the 50DMA unless trendline is successfully broken with the retest of the line.
* Not financial advice. Please do your own DD.
$SPY Bearish Engulfing on the monthly $SPY Bearish Engulfing on the monthly
There you have it. January closed with one of the most reliable indicator of trend reversal - the bearish engulfing candle - on the monthly chart.
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I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
I have a huge tolerance for volatility so please know that. If you’re new to my trade setups please try them on a small scale first. Then go in with a risk you’re comfortable with.
I am not a bull. I am not a bear. I just see what I see in the charts and I don’t pay too much attention to the noise in the news.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can. (If I have time)
And most importantly… Have fun, y’all!!
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Tech Sector Setting Up for Big Monthly Bearish PullbackWe have a Bearish Engulfing on the Monthly along side with extreme amounts of RSI Bearish Divergence and soon the MACD will be crossing bearishly for the first time since 2018. In the past the monthly bearish crossing has lead to at least a 30% correction back down to the 55 Month SMA.
One last thing to note is that if this Monthly Candle continues down a little further and closes below the open of October 2021, this pattern will be upgraded from just a simple Bearish Engulfing to being a Bullish Three Line Strike visible on the Monthly Timeframe which is a very bearish pattern as One Month would have Erased the gains of the Prior 3 Months and at that point you almost have a Guarantee that the Tech Sector will see a much more Sustained Correction the Downside.
A clear short for AJAUDJPY has been in a clear bearish trend for a while now.
With that momentum in mind, we can see a nice double-top at the support on 82.466. We can also see a rejection off of the trendline and a nice bearish engulfing for price action.
This trade should run 65 pips to the next support on 81.658.
Good luck this week traders!
Short BTC, Death Cross
Death Cross on D
Bearish Engulfing on D
Resistance 45K
Expecting Retest 39K and break below to Target 35K >30K
No Financial or Trading Advice
AAPL - Sign and ConfirmationThe long upper wick of the candle is a sign of price rejection.
The first bearish pin bar on November 22, followed by another higher high long upper wick candle on December 1, is a sign that the trend is about to bend. Confirming the two sign is followed by another higher high with Bearish Engulfing Candle, this candle pattern could be the confirmation that the upward trend is done.
And also, if you draw a line, you can see that there is a Bearish Broadening Wedge forming.
Apple – Why the bearish engulfing not so bearish NASDAQ:AAPL
Observations:
After breaking the upward channel, Apple is at re-test point on upward band of the channel. (shown at B)
It closed at the 76.4% Fibonacci level from the lows of Oct 2021. (Shown at A)
Though the bearish engulfing is formed, the weakness can be only confirmed once upward channel is decisively broken on downside. The level is also near to 38.2% level at around 155.
SHORT ON GOLD - SUPPLY & DEMANDGOLD is currently at a key supply zone, marked out on the 30M timeframe. Previously, GOLD has rejected this zone with strong momentum, and we can already see strong selling pressure at this zone.
We've just seen a huge bearish engulfing candle formed the 30M timeframe, creating a new lower low. I am now looking for GOLD to come up to supply once more to complete the head & shoulder pattern making that lower high which so happens to line up with the 61.8 Fibonacci level.
I personally believe GOLD is heading higher into the 1800 (Golden zone) where we have another supply zone, however GOLD has started to reject the 30M supply zone instead but please do trade with caution!
Long-term- I believe GOLD is going to break out of this range and head up to the mid-1800 area in the next few weeks/months. This idea is fuelled by the high inflation rate around the world, specifically the US where they are at a 38 year high of 6.8%. GOLD is seen as a hedge against inflation and with concerns over the new Covid variant, investors may start moving their money into safer assets such as GOLD / US Dollar / Japanese Yen.
This is merely a possibility and a trading idea so please do trade with caution and ensure correct risk management is implemented.
Good luck and let me know your thoughts!
GBPCAD SELLDOJI Candle for last 3 days, Price stuck at the daily resistance level. The daily candle is bearish engulfing. Signal for sell.
WMT shortEntry price: 150-152$
Target price: 135-137$
Stop loss: 153-155$
Chart pattern: double top - the price formed the second top, thus the price reversal is very likely
Candlestick pattern: bearish engulfing
RSI: approaching 70 level, therefore, the price is almost overbought
Conclusions: the chart pattern, candlestick pattern and RSI suggest the trend reversal in the near future. Thus, the short position is recommended with the stop loss above the resistance level.
No financial advice
AXSUSDT | short opportunityOn the 1-hour timeframe, we see the bearish divergence formation.
On the 2-hour timeframe, we see a confirmed reversal pattern represented by a shooting star candle "A" with a bearish engulfing candle "B" confirmation.
4-hour timeframe, also represented by shooting star.
We can expect a downward movement with a take-profit target near the "B" support area of $120, but we still need to break through the "A" support area near $140.
BTCUSD - H4/H1 - MAGICAL CLOUDS !H4 :
Once again the clouds acted perfectly well on both sid e, in rejecting, respectively
a downside breakout attempt around 60'000 and more recently an upside breakout
around 63'600.
In addition, price action on the top of the clouds, triggered a "BEARISH ENGULFING"
pattern.
Ongoing downtrend channel still in place and clouds area should be seen as a barometer
for further development.
Indeed, IMPLICATIONS a clear breakout of :
1) UPSIDE : 63'000/63'500 (former congestion top) would open the door for ---> a retest of ATH
2) DOWNSIDE : 61'500/61'000 (MBB & KS cluster and clouds support zone) would put the focus on ---> former
low @ 59'500 ahead of lower levels; 56'525 is the 38.2% Fib retracement of the 39'590-66'994 rally and 55'147 is
the Kijun-Sen or base line !
H1
Price action switched from an uptrend channel to an ongoing downtrend channe l and this change has been
triggered by a "doji" which has been confirmed straight away by a long black candle (bearish engulfing)
Currently below both MBB and TS and flirting with the KS important support level in this H1 time frame.
A failure to hold above 62'763 would directly put the focus on the 62'000 area, ahead 61'600 and 61'000 (the latter
level being the bottom of the H1 clouds support zone.
In order to neutralise this ongoing downside move price action, the BTCUSD should quickly recover above 63'000 and hold sustainably on a closing basis; this
would temporary neutralise the current ongoing selling pressure.
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Ironman8848
TXN shortEntry price: 199-201$
Target price: 186-189$
Bollinger bands: the price approached the upper boundary
RSI: bearish regular divergence, therefore, the price retracement is likely to occur
Stochastic: the asset is overbought
Candle pattern: bearish engulfing
Conclusions: All indicators suggest trend reversal in the near future. Thus, the short position is recommended.
No financial advice
NZDCHF - (D) IN TREND BEARISH ENGULFING SETUPNZDCHF has formed a significant bearish engulfing on the daily time frame
Entry at the 50% retracement level has been perfectly rejected 3 times.
The bearish engulfing candle engulfed 5 previous candles.
The daily time frame bearish engulfing candle closed Wednesday.
SL set above engulfing candle high. TP set at 3X risk.
