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Bullish Engulfing

TSLA: Low volume/low volatility... What to expect next?Hello traders and investors! Let’s see how Tesla is doing today. It’s been some time since my last analysis, so, let me give you guys some updates. And the link to my previous analysis is below, as usual. First, Tesla is trapped inside what I like to call a Trap Zone , trading above the support at $ 406, but under the resistance at the 21 ema, and the price could breakout to any direction from here. The support at $ 406 is strong, but Tesla is coming from a clear short-term bear trend. We had a Bullish Engulfing candlestick pattern on Friday, which was a good entry point, but the 21 ema is stronger than we expected. If Tesla loses the Engulfing’s low, there will be no clear support levels until it hits the $ 379 again. Let’s see the daily chart for more clues: Tesla is inside a congestion , and here you can see clearly why I said that if it loses the blue line, the next stop would be the $ 379 (previous bottom). T he volatility decreased a lot, and the volume is extremely low as well . In this circumstance, it is normal for a stock to do small candlesticks. The 21 ema is flat, meaning we have no clear trend, and the yellow area down there is a possible buy zone , which we can see better in the weekly chart: By looking at this chart, Tesla doesn’t look so bad, right? The long-term trend is clearly bullish, and it seems it is just retesting again the 21 ema in the weekly chart. The yellow area is a triple support level , made by the purple and pink lines, along with the 21 ema. The low volume is acceptable during pullbacks in a bull trend, according to the Dow Theory , and this doesn’t change the fact that the trend is still bullish. But Tesla must do a reaction with good volume to resume the bullish momentum, otherwise, it’ll just keep trading erratically for some time. If you liked this idea, please, support it ! And remember to follow me to keep in touch with my daily analyses! Have a great day.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
5
Bullish Engulfing on important Support levelHello, traders. The bullish engulfing pattern is a two-candle reversal pattern. The second candle completely ‘engulfs’ the real body of the first one, without regard to the length of the tail shadows. The Bullish Engulfing pattern appears in a downtrend and is a combination of one dark candle followed by a larger hollow candle. On the second day of the pattern, price opens lower than the previous low, yet buying pressure pushes the price up to a higher level than the previous high, culminating in an obvious win for the buyers. Best regards.
Long
by MarketMinds
2
Silver (XAG/USD) Pieces Through Trend Line - Upside AheadHello Fellow Trader! Silver (XAG/USD) Pieces Through Trend Line 4 Hour Time Frame: Strong bullish Engulfing pattern at key Fibonacci level and price. A simple way to find support and resistance in Silver is to plot price intervals of $XX.50 as seen in the labelled examples, and watch and back test price behaviour at these levels for opportunities or clusters with Fibonacci levels or moving averages. Silver has yet to break its All Time High price while Gold has achieved this milestone. Caution: Job numbers in the US were better and expected on Friday, but trade balance figures were poor. How the market interprets the data VS the safe havens in Gold and Silver will be evident in the next week. Key Points: - Price to reclaim 50 EMA - 4 Hour - Bullish Engulfing Pattern - 4 Hour – RSI Range Break - Price holding Fibonacci 78.6% retracement level - Crosses trend line - 1 Hour - RSI range break Key Levels: Support – 26.50, 26.40 Resistance – 50 EMA, 200 EMA, 27.50, 28.50, 29.00 Entry Zone: Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals. Optimal Entry –26.65 Supporting Entry – 26.90 Candle Reversals for entry - 4 Hour Bullish Engulfing - Look for 1 Hour candle reversals for stronger execution The Risk: As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital. IF: Price breaks below 26.40 – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter. Reward / Reward Targets: Optimal Entry 26.65 – Target 1 28.50 = 3.6x Reward to Risk Optimal Entry 26.65 – Target 2 29.90 = 6x Reward to Risk Supporting Entry 26.90– Target 1 28.50 = 2x Reward to Risk Supporting Entry 26.90– Target 2 29.90 = 3.8x Reward to Risk
OANDA:XAGUSDLong
by tradetheday
SPX: Bull or Bear trap? Let's see...Hello traders and investors! Let’s see how SPX is doing in this Multi Time Frame Analysis (MTFA)! This could be a bull or a bear trap, and here are the most important points to keep in mind. We see a Dark Cloud Cover candlestick pattern under the 21 ema in the hourly chart. This is a bearish sign, and today’s rally could be just a short rally to its resistance and start a further drop, especially if SPX loses this red line at 3349, which would trigger a pivot. Today, SPX filled the gap we talked about yesterday (green line at 3399), and it did a Bullish Engulfing at the black line, which is the pre-coronavirus All Time High (ATH). Now, let’s look for more clues at the daily chart: After SPX lost the purple trendline , the trend got weaker, and when this happens, it just look for more supports. In this case, the 21 ema is holding the price very well, but not before SPX retested its support at the first red line (3353). The movement was very technical, and we already discussed it yesterday, in my previous analysis (link below). Today’s candlestick left a huge shadow under its body, which is very interesting. But before we jump to any conclusions, let’s take a quick look at the weekly chart: Here’s the situation: If the hourly chart triggers a pivot by losing the red line at 3349, it would be a bull trap, and SPX can sink to the second red line seen in the daily chart (3280), or even this purple line, in the weekly chart (3232). The pivot point in the hourly chart is the same point of this week’s candlestick low. To sum up, if the 3349 will be lost, we may see a pullback in the weekly chart. On the other hand, in the daily chart we have a good shadow, and SPX is closing above the 21 ema. If it trades again above today’s candlestick high, it would trade again in bullish territory , above the purple trendline, and the sharper pullback will be ruined. I’m not saying it will go up, I’m not sure if it will have the strength. But we could see some erratic movement next. It would be another bear trap. These are the most important points to keep in mind, and if this idea helped you, please, support it! And follow me to keep in touch with my daily analyses! Maybe you’ll find something helpful around here. Stay safe, and have a great weekend.
SP:SPX
by Nathan_The_Finance_Hydra
11
XTZ: These are the most important points to keep in mind!Hello traders and hodlers! Let’s what XTZ is doing today and do a complete Multi Time Frame Analysis (MTFA)! In the hourly chart, Tezos is struggling a lot, as the bears are dominating the crypto. It did lose the purple trendline , which was the first sign the trend was going to get weaker, but now it is doing descending tops and bottoms , a trait of a bear market. Right now, XTZ is doing what it was supposed to do in a bear market: Seeking previous supports . It is very close to the pink line, and the next target would be the blue line around$ 3.21. Beyond this point, there’s the yellow line at $ 3.10. If XTZ closes above the green line, we’ll see some good rection . Let’s see the daily chart: Yes, the situation is bearish for Tezos, as it is still trading under the 21 ema . But the good news is that we have a clear support at the purple trendline, and the red line is another important point. If XTZ closes above this level, it will be a good sign in the daily chart. This is important, because the reaction must start at the hourly chart, by closing above its green line. Then, it might have the strength to close above the red line in the daily chart and do a false breakout from a bearish pivot . All near the support at the trendline. If XTZ is going up, now is the perfect time for a reaction, and we are going to have our answers quickly, in the next few hours/days. Either way, let’s see the weekly chart: Technically, there’s still room for XTZ to drop. It could retest the black line at $ 3.1294, or hit the 21 ema, which is something we don’t see since this bullish engulfing. My opinion: I’m neutral on XTZ, and I’ll only be bullish if we see the reaction mentioned above. I’m skeptical about a further drop to meet its supports at the weekly chart, but I don’t discard this scenario. Therefore, I’m neutral, at least for now. And if this idea helped you, please, support it! And I invite you to follow me to keep in touch with my daily analyses!
COINBASE:XTZUSD
by Nathan_The_Finance_Hydra
14
USDJPY - Next MoveLooking into the higher time frames we can see that we broke the bullish flag formed and are now sitting around the key level of 105.500 waiting for the markets next move. The last daily candle closure was a bullish engulfing candlestick suggesting price may want to continue up into the key structure marked after making a slight pullback. If we don’t see this and price wants to break the 105.500 level, our long term target will be 101.500 depending on how the DXY performs. Our most recent COT data source is showing a 59.2% of commercial players are long on this pair.
by AlkalineFX
BTC broke out of the downtrendWelcome fellow Tradingviewers, This analyses is a follow-up from our BTC halving TA and this analyses has proven to be effectious. If you haven't already consider reading that analyses before going deeper into this one. In this analyses we are going to show you our view on the current market situation for Bitcoin . We will be analysing BTC using a top-down strategy , including candlestick patterns , indicators and price patterns . Monthly: - The monthly close was a bullish engulfing candle. - This close was the 2nd HIGHEST CLOSE EVER for Bitcoin. - We are still above all moving averages. - We have closed the monthly above the 10800 monthly resistance. - We have a bullish MACD Weekly: - We closed the weekly as a bullish engulfing candle. - We have broken out of the downtrend formed from the top to 14K. (Dashed line in the graph) - We can see a good accumulation period in the circle above the 50MA where the dashed line seemed to be the resistance. - We closed below the 11500 weekly resistance. - We still have the strong W formation on the MACD. - The MACD is bullish and shows strength. - We are well above all MA's Daily: - We closed the last daily candle as a bearish engulfing. - We have tested the 12K resitance once. - The MACD is bullish. - We are well above all MA's In summary: In our last analyses we clearly stated that before reaching higher we had to break 10K for a shot at 11.5K. We clearly hit both targets . We have broken out of a huge downtrend on the longer timeframes which indicates that the most probable way is up. The W formation in the MACD is showing strength and the volume seems to be confirming the bullish picture. There is still room for consolidation (in the short term) and we might even retrace back to the dashed line before moving higher but at this moment that seems rather unlikely. The most important thing from our point of view is creating a higher high on the weekly timeframe. The last weekly close was not high enough for us to begin thinking about the possibility of it becoming a higher high and for the confirmation of the bullish trend a higher high on the weekly is much appreciated. So we broke out of the downtrend and are now waiting for a higher high to be made to confirm us going higher. This analyses is only intended to share my idea, to educate and entertain you guys. This should not be considered as financial advice. I hope you guys enjoyed this analyses, if you did don't forget to leave a Like! If you want to share your thoughts, please do so in the comments below! Kind Regards, Frank | Forallcrypto
BITSTAMP:BTCUSDLong
by ForAllCrypto
CADJPY H4 ANALYSIS! BREAKING OF EITHER SIDES WILL BE MAJOR! Good day traders! New York market has been opened and I hope y'all have a great trades ahead. Start off with my sharing on CADJPY to give y'all a little heads up on the directions! CADJPY has been struggling in between the price range of 79.70 to 78.34 for the past few days. Therefore, a break of 78.34 would result in bearish movement to 74.13 (ideally) whereas fail to break below 78.34 would push the price to 81.64, which is the recent high. Therefore, we will be waiting for the confirmation candle such as bullish engulfing candlestick pattern and etc, to form from either sides to get into the market. Remember, patience is the key here. Happy trading!
by ChinSengFx
XRP Weekly AnalysisXRP on the weekly chart is still in an overall downtrend but it’s showing bullish signs. Currently trading just around it’s 20ema, also it’s point of control YTD as seen on the volume profile . If we can close above this with above average volume (+104.655M), we can expect more bullish sentiment to follow. I’d be looking to see a brief some resistance around the downward trending tend line and high volume node before resistance around the 50ema Other bullish signs: XRP is forming a morning star pattern bouncing off its value area on the volume profile and an upward trending trend line . Bullish engulfing bar trading the most volume since the week of April 27th (141.894M) which was at the top of its last mini bull cycle before the last pullback which is now over if we use this weeks bullish engulfing bar as confirmation after last weeks doji . Price Volume Trend is spiking upwards. Thoughts welcome :)
KRAKEN:XRPUSDLong
by MoxieTrading
EURUSD - Continuation of a strong trend?EURUSD is in a clear uptrend, with the pair that doesn't seem to show any sign of counter-trend or strong retracement. Recent action shows a slight retracement, with buyers immediately reacting with a bullish engulfing pattern and a new higher high. Stop loss below last important swing low and trying to have it also below the uptrend line. I don't really have a take profit in this situation, I just want to join the trend and see when we have some signs of sellers on the market. For now, I place it in order to have 1:2 as risk to reward ratio, but I might increase it if I see that the trend still has good momentum.
Long
by FedericoSellitti