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Candlestick Analysis

BITCOIN → False Breakout & Bearish Engulfment ↓ BINANCE:BTCUSD entered a strong buying zone (68900) within the rally. BUT, the expected growth did not happen, the bulls could not realize the potential. A bearish engulfment of the last three bars is formed and actually - a false breakdown of the descending resistance... The growth formed from 59K is partly connected with the election race in the USA, economic revival in China, as well as economic news. But apparently, this energy is not yet enough for the price to easily overcome 68-69K with a target of retesting 71-73. The resistance zone of 68.4-69.4 is putting pressure. Buyers are taking profits, while bears, seeing the strong resistance zone, are trying to resist. The structure will break down if the price breaks 69400 At the moment, we see a bearish engulfment forming relative to the previous three bars, and this is a strong enough signal. Consolidation below resistance is forming, a small correction may be formed, the first target of which may be 65K, then 61-58-57. Resistance levels: 68400, 69400, 71500 Support levels: 66500, 65000 After the false breakdown, the price consolidation is formed below the resistance, which indicates the pressure from the sellers. This may provoke further downward correction. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSDT ;) Regards R. Linda!
Short
by RLinda
56
USD/CHF looks heavy despite relentless USD strength The Swiss franc has held up remarkably well this week despite some of the G10 FX moves against the USD. Sitting in a rising wedge, it was rejected at uptrend resistance on Wednesday, deliver an inverse candle on the daily. The price now finds itself resting on uptrend support and looks heavy. RSI (14) has diverged from price but the bearish signal on momentum has yet to be confirmed by MACD, although the latter also looks toppy. One short setup would be to sell now or on a break of the uptrend with a stop above Wednesday’s high for protection against reversal. The initial target would be .8617 although, to make the risk-reward stack up, it would be preferable to target the 50-day moving average. Good luck! DS
Short
by FOREXcom
The Fall of Google: 40% Crash next ??5 days before earnings, a bold call... or is it. On October 22nd, morningstar.com a leading provider of independent investment insights with 10.9 million subscribers said: “With its 4-star rating, we believe Alphabet’s stock is undervalued compared with our long-term fair value estimate of $209 per share” source: tinyurl.com Meanwhile on October 23rd Without Worries with his 14k followers says.. a 40% correction to $100 is probable. Why bearish? Before the TA, there be some fundamentals to consider. I’m sure it cannot escaped your attention that Google has become a platform for your attention rather a provider of results. Advertisements plaster the screen to most search enquires. Mr Who the Boss “Why Google search is falling apart” makes an excellent deep dive: tinyurl.com The TA On the 2 week chart above: 1) Price action and RSI support fails. 2) Regular bearish divergence, as measured over several months. 3) Uptrend channel breakdown with confirmation. This forecast projects price action to correct circa 40% to $96. 4) The 3 month chart (below). Can’t ignore this beautiful signal. This candle is named as the “hanging man”, it is an indication of exhausted buyers. This should not be surprising after 6 straight green quarterly candles. It is fairly obvious what should now occur, look left. Is it possible price action continues to grow? Sure. Is it probable? No. Ww 3 month hanging man candle
NASDAQ:GOOGLShort
by without_worries
11
Fresh demand zone in the EUR/USD pairHello everyone, I've identified a fresh demand zone in the EUR/USD pair, and the location looks quite promising. You can approach this trade in two ways: either set a buy limit at the weekly demand zone or use price action to enter on lower timeframes. Personally, I use both strategies. As always, it's essential to apply proper money management and never trade without setting an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be evaluated over a series of trades, not just one. Thanks!
Long
by UnknownUnicorn89138523
GBP/JPY Consolidation Tightens: Bulls Eyeing a Break Above 195.7After a strong correction and finding a bottom at 180 in early August, OANDA:GBPJPY began to recover, initially rising to the 193 zone. Another leg down followed, but this time, bulls regained control at the 183.90 level, forming a higher low supported by a double bottom pattern. The next upward move stalled at the 195 resistance, and the pair has since entered a consolidation phase. However, the recent consolidation range is tightening, and it appears that the price is gearing up for an upward breakout. I am slightly bullish on this pair, and a break with a daily close above the 195.70 resistance level would confirm this outlook, potentially leading to further gains toward the key 200 zone. In the short term, interim resistance around 198 could also serve as a target for bullish traders.
Long
by Mihai_Iacob
4
GBPUSD SHORTMarket structure Bearish on HTFs DW Entry at Daily and Weekly AOi Weekly rejection at AOi Previous Weekly Structure Point Daily Rejection at AOi Daily EMA retest Around Psychological Level 1.31000 Entry at the same area as previous week Level, I will react accordingly as the week progresses H4 Candlestick rejection Levels 6.45 Entry 90% REMEMBER : Trading is a Game Of Probability : Manage Your Risk : Be Patient : Every Moment Is Unique : Rinse, Wash, Repeat! : Christ is King
Short
by mobbie_zw
Gold's Reversal Signals: Why I'm Watching for a Drop Below 2700?Yesterday, I mentioned that a correction in OANDA:XAUUSD seemed imminent, even though we didn’t yet have confirmation at that moment, and I emphasized that buying no longer appeared attractive at these levels. Indeed, after reaching another all-time high of 2740 during the day, a strong sell-off followed, pushing the price down to the 2715 zone. Currently, the bulls are back in control, but in my view, this looks more like a natural rebound aligned with the broader trend, rather than a renewed surge in buying interest. The 2740 level now serves as significant resistance, and a fresh reversal from this zone could very well occur. For the bulls, the key support level lies in the 2725-2730 range. A drop below this zone would signal the beginning of a potential new downward move. From my perspective, I'm focused on selling opportunities. A break below 2700, with a move toward the 2685-2690 support range, is what I’m closely watching for.
OANDA:XAUUSDShort
by Mihai_Iacob
11