Nasdaq (March 2025) - Brass Tax #S1E10In episode 10, I share how challenging price has been over the past couple of days but also, what you can do in order alleviate the need to feel like you must enter the market.
I go over price projections covered in Episode 9, how it played out in Thursday and what could be done better.
With one more day left this week and 13 high impact news events, I am anticipating high levels of volatility
Candlestick Analysis
Next draw of liquidity: NzdUsd0.58083 is a weekly POI that have been respected before. I'm anticipating price to retest that zone again this week , hence anticipating the news (Existing Home Sales) by 10:00 New York time to push price to my point of interest and rejection kicks in.
Therefore this weekly candle might close with a rejection of that zone and next week would be bearish till we clear this week low 0.56779
I'm anticipating price to also clear previous week low (the monthly low) 0.55164 by next month.
Kindly boost if you find this insightful 🫴
EURJPY LongThe price has completed the retracement after breaking the last Lower High.
From now on we should with high probability expect the price to rally back up to the last swing high of $161.2 and see if it can break it before making another Higher Higher from there.
But before that, there are two significant OBs on the way up that the price can face significant selling pressure from. We need to watch those zones closely.
USDCHF Short Market structure bearish on HTFs DH
Entry at Daily AOi
Weekly Rejection at AOi
Daily Rejection at AOi
Daily EMA retest
Previous Structure point Daily
Around Psychological Level 0.90500
H4 Candlestick rejection
Rejection from Previous structure
Levels 4.96
Entry 90%
REMEMBER : Trading is a Game Of Probability
: Manage Your Risk
: Be Patient
: Every Moment Is Unique
: Rinse, Wash, Repeat!
: Christ is King.
The Daily Edge - 20th Feb 2025Indecision at Previous ATH as Shorts Remain in Focus
Market Overview
Wednesday’s daily candle printed a doji, testing the previous ATH and 2940 consolidation high.
Entered shorts at these levels, took an initial loss, but considering re-engagement today.
While this goes against the Monthly and Weekly trends, the Daily timeframe shows indecision, reinforcing a short bias for now.
Key Observations
Daily doji signals indecision – price failed to break convincingly above 2940.
4H remains bullish – trend strength contradicts daily indecision.
POI for longs at 2920 – bullish close above Friday’s bearish PA suggests support below Wednesday’s low.
Shorts remain in focus – targeting 2865 but will re-evaluate if invalidated.
Our Next Steps
Manage short positions, watching for reaction toward 2865.
Remain flexible – exit shorts if structure shifts, reassess for re-entry.
Monitor 4H structure & POI at 2920 – if price finds support, consider a shift to longs.
Reflection Prompt
How do you balance short-term trade setups with higher timeframe trends while managing risk effectively?
#XAUUSD #Gold #TradingView #MarketAnalysis #PriceAction #PipsnPaper
Vistra May Have Shaken Off DeepSeek Vistra fell in January because of DeepSeek. It quickly rebounded and now some traders may expect its longer-term uptrend to continue.
The first pattern on today’s chart is the rally between the low of January 27 and the high of January 30. The nuclear-power company has held above a 50 percent retracement of that bounce, which may confirm buyers remain in charge.
Second, a pair of inside weeks may also reflect a lack of selling pressure.
Third, prices have pushed against a falling trendline. Could that help confirm a breakout?
VST’s 8-day exponential moving average (EMA) also stayed above its 21-day EMA despite the DeepSeek crash. Price have additionally held their 50-day simple moving average. Those patterns may be consistent with short- and intermediate-term uptrends.
Next, the most recent set of weekly lows around $132 were above the September 30 trough near $115. Those higher bases may also reflect bullishness over the longer run.
Finally, traders may see potential AI catalysts on the horizon with Nvidia reporting on February 26, followed by its big AI conference March 17-21.
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Mastering Candlestick Patterns: Visual Guide for Traders
🔵 Introduction
Candlestick charts are among the most popular tools used by traders to analyze price movements. Each candlestick represents price action over a specific time period and provides valuable insights into market sentiment. By recognizing and understanding candlestick patterns, traders can anticipate potential price reversals or continuations, improving their trading decisions. This article explains the most common candlestick patterns with visual examples and practical Pine Script code for detection.
🔵 Anatomy of a Candlestick
Before diving into patterns, it's essential to understand the components of a candlestick:
Body: The area between the open and close prices.
Upper Wick (Shadow): The line above the body showing the highest price.
Lower Wick (Shadow): The line below the body showing the lowest price.
Color: Indicates whether the price closed higher (bullish) or lower (bearish) than it opened.
An illustrative image showing the anatomy of a candlestick.
🔵 Types of Candlestick Patterns
1. Reversal Patterns
Hammer and Hanging Man: These single-candle patterns signal potential reversals. A Hammer appears at the bottom of a downtrend, while a Hanging Man appears at the top of an uptrend.
Engulfing Patterns:
- Bullish Engulfing: A small bearish candle followed by a larger bullish candle engulfing the previous one.
- Bearish Engulfing: A small bullish candle followed by a larger bearish candle engulfing it.
Morning Star and Evening Star: These are three-candle reversal patterns that signal a shift in market direction.
Morning Star: Occurs at the bottom of a downtrend, indicating a potential bullish reversal. It consists of:
- A long bearish (red) candlestick showing strong selling pressure.
- A small-bodied candlestick (bullish or bearish) indicating indecision or a pause in selling. This candle often gaps down from the previous close.
- A long bullish (green) candlestick that closes well into the body of the first candle, confirming the reversal.
Evening Star: Appears at the top of an uptrend, signaling a potential bearish reversal. It consists of:
- A long bullish (green) candlestick showing strong buying pressure.
- A small-bodied candlestick (bullish or bearish) indicating indecision, often gapping up from the previous candle.
- A long bearish (red) candlestick that closes well into the body of the first candle, confirming the reversal.
2. Continuation Patterns
Doji Patterns: Candles with very small bodies, indicating market indecision. Variations include Long-Legged Doji, Dragonfly Doji, and Gravestone Doji.
Rising and Falling Three Methods: These are five-candle continuation patterns indicating the resumption of the prevailing trend after a brief consolidation.
Rising Three Methods: Occurs during an uptrend, signaling a continuation of bullish momentum. It consists of:
- A long bullish (green) candlestick showing strong buying pressure.
- Three (or more) small-bodied bearish (red) candlesticks that stay within the range of the first bullish candle, indicating a temporary pullback without breaking the overall uptrend.
- A final long bullish (green) candlestick that closes above the high of the first candle, confirming the continuation of the uptrend.
Falling Three Methods: Appears during a downtrend, indicating a continuation of bearish momentum. It consists of:
- A long bearish (red) candlestick showing strong selling pressure.
- Three (or more) small-bodied bullish (green) candlesticks contained within the range of the first bearish candle, reflecting a weak upward retracement.
- A final long bearish (red) candlestick that closes below the low of the first candle, confirming the continuation of the downtrend.
🔵 Coding Candlestick Pattern Detection in Pine Script
Detecting patterns programmatically can improve trading strategies. Below are Pine Script examples for detecting common patterns.
Hammer Detection Code
//@version=6
indicator("Hammer Pattern Detector", overlay=true)
body = abs(close - open)
upper_wick = high - math.max(close, open)
lower_wick = math.min(close, open) - low
is_hammer = lower_wick > 2 * body and upper_wick < body
plotshape(is_hammer, title="Hammer", style=shape.triangleup, location=location.belowbar, color=color.green, size=size.small)
Bullish Engulfing Detection Code
//@version=6
indicator("Bullish Engulfing Detector", overlay=true)
bullish_engulfing = close < open and close > open and close > open and open < close
plotshape(bullish_engulfing, title="Bullish Engulfing", style=shape.arrowup, location=location.belowbar, color=color.blue, size=size.small)
🔵 Practical Applications
Trend Reversal Identification: Use reversal patterns to anticipate changes in market direction.
Confirmation Signals: Combine candlestick patterns with indicators like RSI or Moving Averages for stronger signals.
Risk Management: Employ patterns to set stop-loss and take-profit levels.
🔵 Conclusion
Candlestick patterns are powerful tools that provide insights into market sentiment and potential price movements. By combining visual recognition with automated detection using Pine Script, traders can enhance their decision-making process. Practice spotting these patterns in real-time charts and backtest their effectiveness to build confidence in your trading strategy.
Bitcoin’s Bullish Patterns_Ready for a Breakout!?As I expected in the previous post , Bitcoin( BINANCE:BTCUSDT ) approached the Heavy Support zone($93,300-$90,500) and Support lines but quickly started to rise.
Bitcoin is moving in the Support zone($96,150-$94,700) . And in this increase of Bitcoin in the last few hours, we can see the Morning Star Candlestick Pattern well in the 2-hour time frame .
Educational tip : The Morning Star is a bullish reversal candlestick pattern that forms after a downtrend, consisting of three candles: a large bearish candle, a small indecisive candle, and a strong bullish candle. It signals a potential trend reversal and growing buying momentum.
In terms of Classic Technical Analysis , it seems that Bitcoin has succeeded in forming the Descending Broadening Wedge Pattern , which can be a sign of Bitcoin's increase .
According to the theory of Elliott waves , it seems that the entire corrective waves inside the descending channel were all in the form of a Zigzag Correction(ABC/5-3-5) so that it seems that Bitcoin finally completed the main wave C in the previous hours. If Bitcoin breaks the upper line of the wedge pattern, we can confirm the end of the main wave C .
I expect Bitcoin to be able to touch the Targets I specified on the chart AFTER breaking the upper line of the Descending Channel .
Note: If Bitcoin goes below $94,400, we expect more dumps.
Do you think Bitcoin can finally break out of this Descending Channel? Pump or Dump?
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 2-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Sorry, I'm shorting gold againYesterday, gold retraced to a low near 2919, but it didn’t reach my expected target zone of 2915-2910, so I didn’t have the opportunity to go long on gold. Currently, gold has rebounded again and extended above 2950. To be honest, while gold maintains its strong bullish position, as long as it stays above 2930, I still don’t recommend chasing long positions. With gold currently trading near 2954, I am even less inclined to go long.
On the contrary, the accelerated rally in gold has a short squeeze potential, so at this level, I am more inclined to short gold. From a cyclical perspective, gold has been prone to showing “Black Thursday” and “Black Friday” patterns recently, so there is a possibility that a reversal could occur today or tomorrow. Therefore, I still recommend continuing to try shorting gold in the short term.
I tend to think that gold may pull back to the 2930-2925 area during the New York trading session today or tomorrow, and may even extend to the area around 2910.Bros, have you followed me to do more gold? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
XAUUSD Poised for a Bullish Surge to 3010In my latest analysis of the XAUUSD chart, I forecast an uptrend that will drive prices to reach the 3010 mark. Key indicators show bullish momentum, supported by recent market trends and historical data. Traders should keep an eye on critical support and resistance levels to capitalize on this potential upswing. Dive into the details and get ready to ride the wave of gold's bullish journey!
US CRUDE OIL(WTI): Classic Day TradeUSOIL was trading in a tight horizontal range on the 4-hour chart for a significant period of time.
The resistance of this range was violated yesterday, followed by a retest and a strong bullish response.
This could signal a potential upward trend continuation towards the 73.32 mark.
USDCAD SHORTMarket structure bearish on HTFs 3
Entry at Daily AOi
Weekly Rejection at AOi
Daily Rejection at AOi
Rejection at Daily AOi
Previous Structure point Daily
Round Psych Level
H4 EMA retest
H4 Candlestick rejection
Rejection from Previous structure
Levels 7.89
Entry 100%
REMEMBER : Trading is a Game Of Probability
: Manage Your Risk
: Be Patient
: Every Moment Is Unique
: Rinse, Wash, Repeat!
: Christ is King.
GBPCAD LONG Market structure bullish on HTFs DH
Entry at both Weekly and Daily AOi
Weekly Rejection At AOi
Daily Rejection at AOi
Daily EMA retest
Previous Structure point Daily
Around Psychological Level 1.78500
H4 Candlestick rejection
Levels 5.47
Entry 90
REMEMBER : Trading is a Game Of Probability
: Manage Your Risk
: Be Patient
: Every Moment Is Unique
: Rinse, Wash, Repeat!
: Christ is King.
EUR/JPY - Bullish Rejection from Key Support📈 Trade Idea: Long EUR/JPY
Analysis:
Price aggressively rejected the downside with a long wick, indicating strong buyer interest at a key support level. This suggests a liquidity grab, where price swept lows before pushing back up. A potential bullish reversal could be in play, targeting the next resistance zone.
Trade Plan (Based on Chart Setup):
🔹 Entry: 156.991 (Rejection from support)
🔹 Stop Loss: 156.846 (Below recent low, invalidates bullish bias)
🔹 Take Profit: 157.281 (Fixed at 2R)
Risk/Reward:
✅ Stop Loss: ~15 pips
✅ Take Profit: ~30 pips
✅ Risk-Reward Ratio: 1:2
Why this trade?
✔️ Liquidity grab below previous lows
✔️ Strong bullish rejection at key demand zone
✔️ Potential reversal targeting previous resistance
📌 Looking for price to maintain above 156.50 to sustain bullish momentum.
GBP/JPY - Bullish Reversal from Key Support📈 Trade Idea: Long GBP/JPY
Analysis:
Price has rejected a key demand zone, showing a strong reaction off support. The long wick and bullish rejection indicate buyers stepping in. This aligns with a potential reversal trade, aiming for a retest of the previous supply zone.
Trade Plan (Based on Chart Setup):
🔹 Entry: 189.744 (Rejection from support)
🔹 Stop Loss: 189.422 (Below candle's body)
🔹 Take Profit: 190.388 (Fixed at 2R)
Risk/Reward:
✅ Stop Loss: 32pips
✅ Take Profit: 64 pips
✅ Risk-Reward Ratio: 1:2
Why this trade?
✔️ Strong bullish rejection from demand zone
✔️ Liquidity grab below lows before push-up
✔️ Targeting previous resistance/supply zone
📌 Looking for follow-through momentum toward the upside.
Datadog: S&P 500 Candidate?! Key Levels to Watch Now!Hi there,
When we talk about the most respected stocks in the market, getting added to the S&P 500 index is a big milestone for any company. It’s not just a status symbol—it’s an event that can push the stock price higher as funds and investors rush to buy it.
Datadog (DDOG) is one of the potential candidates , so let’s analyze what the price action is telling us.
Technical Breakdown:
Right now, Datadog stock is testing a key support level of around $130. This price level has acted as both resistance and support in the past, and in November last year, the stock broke above it. Now, it has come back to retest this level, possibly looking for a base before making its next move.
If $130 holds as support, and the company’s fundamentals remain strong, this could be a solid entry point for buyers.
A secondary support zone to watch is near $100, about 25% lower than the current price. This level has seen big price movements before, meaning there could be strong interest from traders and investors if the stock drops there.
As legendary investor Peter Lynch once said:
"If you sell instead of buying when a stock drops 25%, you won’t achieve long-term profits in stocks."
This idea is also the foundation of my approach – what to do when the price drops? Am I ready to buy more at lower prices? If the answer is something like “probably not,” “not sure,” etc., then it’s worth considering whether it’s even worth buying in the first place!
Plans for different types of investors:
Short-Term Investors: If you’re looking for a quick trade, you might want to wait for a dip to $100, where a stronger bounce could happen. Buying from current prices can be a bit risky considering short-term horizons.
Long-Term Investors: If you believe in Datadog’s continued growth, the $130 level might already be a good spot to start buying. But be ready to buy more if the price drops further.
Final Thoughts:
Datadog is a fast-growing company with strong fundamentals, but the stock also has a high valuation and faces competition. As always, do your own research and make sure your investment strategy fits your risk level and goals.
Cheers,
Vaido
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GOLD (XAUUSD): Breakout confirmedGold is currently in a strong bullish trend.
After establishing a new higher high and higher close on the 4-hour timeframe, the pair has entered a consolidation phase within a horizontal trading range.
I anticipated a bullish breakout above the range’s resistance level.
A 4-hour candle closing above 2943 would signal strong buying momentum, confirming a bullish continuation. The next target for buyers would be 2980.
GBPCAD: Comprehensive Trading Plan⚠️ GBPCAD Analysis
This week, GBPCAD broke a key structural resistance and closed above it.
Currently, the pair is consolidating within a tight horizontal range, retesting the broken structure on the 4-hour chart.
For confirmation of a bullish intraday trend, watch for a breakout above the range resistance.
A 4-hour candle closing above 1.7924 will validate the breakout, potentially leading to a bullish continuation toward 1.7967.
HI SCHLUMBERGER I love this company so much that I love it to go up...however the chart are looking pretty wacky
It's a bear market for this asset
Pull out or diversify your portfolio cause the next target is the $34 and $20 mark respectively
Hopefully the investors and economy turns it around swiftly
NZD/USD - Bullish Engulfing at Support for Long Entry📈 Trade Idea: Long NZD/USD
Analysis:
Price formed a bullish engulfing candle at the 0.5700 key support level, signaling strong buying pressure. This level previously acted as resistance and has now turned into support, confirming a potential continuation of the uptrend.
Trade Plan (Based on Chart Setup):
🔹 Entry: 0.5714 (bullish engulfing confirmation)
🔹 Stop Loss: 0.5694 (below structure, invalidates setup)
🔹 Take Profit: 0.5775 (next resistance zone)
Why this trade?
✔️ Bullish engulfing pattern at key support
✔️ Break-and-retest confirmation of previous resistance as support
✔️ Strong uptrend continuation setup
📌 Looking for price to stay above 0.5700 to maintain bullish bias.