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Candlepatterns

What is Tweezer Top and Bottom Patterns?Welcome to the world of trading patterns. If you appreciate our charts, give us a quick 💜💜 Today let's explore Tweezer top and bottom patterns, often referred to as simply "tweezers," are powerful candlestick formations that hold the potential to unveil significant shifts in market sentiment. These patterns materialize as twin candles appearing at the culmination of a trend, indicating the impending transition of market dynamics. In this exploration, we'll delve into the intricacies of these patterns, unveiling their secrets for traders seeking to navigate the ever-evolving landscape of financial markets. Tweezer Top: A tweezer top pattern occurs during an uptrend when the price reaches a high point and then experiences a sudden reversal. It is characterized by two consecutive candlesticks with almost identical highs. The pattern suggests that the bulls are losing their grip, and a potential trend reversal or a bearish correction might follow. Traders often interpret the tweezer top as a signal to consider selling or shorting an asset, especially if it appears after a prolonged uptrend. However, it's essential to confirm this pattern with other technical indicators or chart patterns to increase its reliability. Tweezer Bottom: Conversely, a tweezer bottom pattern emerges in a downtrend when the price reaches a low point and then reverses its direction. Similar to the tweezer top, tweezer bottoms consist of two consecutive candlesticks with nearly identical lows. This pattern signifies a potential end to the bearish trend, indicating that the bulls might take control soon. Traders view the tweezer bottom as a signal to consider buying or going long on an asset, particularly if it appears after an extended downtrend. As with any trading pattern, it's crucial to validate the tweezer bottom with other technical tools to confirm the potential trend reversal. Key Considerations: Confirmation is Key: Tweezer patterns, while useful, should always be confirmed by other technical indicators or chart patterns before making trading decisions. Volume Analysis: Analyzing trading volumes during the formation of tweezer patterns can provide additional confirmation of the potential trend reversal. Market Context: Consider the overall market context and fundamental factors influencing the asset to make well-informed trading decisions.
Education
by Vestinda
2
Learn Engulfing Candlestick Pattern ☑️WHAT IS A BULLISH ENGULFING CANDLE? The bullish engulfing candle appears at the bottom of a downtrend and indicates a surge in buying pressure. The bullish engulfing pattern often triggers a reversal in trend as more buyers enter the market to drive prices up further. The pattern involves two candles with the second candle completely engulfing the body of the previous red candle. ☑️HOW TO SPOT A BULLISH ENGULFING PATTERN AND WHAT DOES IT MEAN? ▪️Characteristics of a bullish engulfing pattern: • Strong green candle that ‘engulfs’ the prior red candle body (disregard the wicks) • Occurs at the bottom of a downward trend • Stronger signals are provided when the red candle is a doji, or when subsequent candles close above the high of the bullish candle. ▪️What does it tell traders? • Trend reversal to the upside (bullish reversal) • Selling pressure losing momentum at this key level. ▪️Advantages of trading with the bullish engulfing candle: • Easy to identify • Attractive entry levels can be obtained after receiving confirmation of the bullish reversal. ☑️KNOW THE DIFFERENCE BETWEEN A BULLISH AND A BEARISH ENGULFING PATTERN Engulfing patterns can be bullish and bearish. The bearish engulfing pattern is essentially the opposite of the bullish engulfing pattern discussed above. Instead of appearing in a downtrend, it appears at the top of an uptrend and presents traders with a signal to go short. It is characterized by a green candle being engulfed by a larger red candle. ☑️CONCLUSION A Bullish Engulfing Candle becomes an excellent tool for the trader, once he masters how to use it properly! ❤️Please, support our work with like & comment!❤️ What do you want to learn in the next post?
OANDA:XAUUSDEducation
by UnitedSignals
6
Nearest goals in bitcoin correlated with my previous forecastI expect that in this week (maximum tuesday) we will close somewhere between 50-53k - then we will get similar candle pattern as in the past. The shadow of candle cover more than 50% of the previous week candle. Previous time we've got a 2 week correction. On tuesday upper boundary of the rising wedge (we are in this wedge whole bull run from 21 july - you need to draw it on 4H chart) will be exactly near 52k. Correction from 52k would be till 40.7k (0.5% fibo level), but the candle shadow can fall till 38.8k. After this correction we will rise till 68k (1.618% fibo level) - as in my previous forecast which is more global (check it to get to know how I see the future of bitcoin for nearest years). We will reach 68k in the end of September - in October we will start to fall till 20k - it can be very fast because of black swan, so be careful.
BITFINEX:BTCUSD
by DBerendey
2
Shooting Star + Hanging Man & Hidden Bearish DivergenceCurrent $BTC price is over-extended and waiting for a correction/reversal really strongly. I'm showing this in 4 hour chart but you can find the same candle patterns(hanging man) in 6, 8 and 12 hour time frames as well. But at 4 hour chart we have 2 hanging man candles followed by a shooting star, now all you have to do is to check if the next candle is going to close below the body of this last one. I think it will because there're 10 hidden divergences formed right at this candle indicating that the price is not compatible with these 10 different indicators. If all of these play out I expect a retrace back to $52500 So check out this next candle(current one just opened) and take your position accordingly.
BITFINEX:BTCUSDShort
by Kryptolinks
WATCH EURAUD 30M FOR REVERSAL OR CONTINUATION Price has two resistance levels to decide to either reverse bearish or continue bullish. (162.00 & 162.11) If continuation long watch for a Break-Hook_Go candle pattern on a 5m, 15m or 30m chart. If reversal short watch for an engulfing candle, evening star, inside candle railroad candle reversal patterns on a 5m, 15m or 30m chart. Continuation TP levels will be 100%, 127.2% and 161.8% fibs. Reversal TP levels will be -23.6%, -61.8% and -127.2% fibs. Find your SL on the other side of the reversal or continuation point.
by Tradingstrategyguides