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Candlestickpattern

Using Candle Wicks to refine your daytrading entriesIn the video I discuss the importance of 'Candle Wicks' in price action and how I use them to refine an entry. I like to use the 1 minute chart for my entries and have certain criteria to trade with the trend (which I discuss in the video). When trying to trade with the predominant trend up/down, I look to trade retracements. One thing I look for is wicks into the EMAs and then a reversal of the previous candle. I find these greatly help my timing for entries and can greatly reduce my risk. I hope that you enjoy the video and are able to use in your own trading. ** If you like the content then take a look at the profile to get more daily ideas and learning material ** ** Comments and likes are greatly appreciated **
Education
by TradeTheStructure
Strong Bullish Momentum!Despite the news, I've been bullish on the Dollar Yen and it appears the weekly chart is confirming that. It's currently on a bullish movement, having surpassed the immediate resistance level and heading higher. For counter trend traders, I recommend waiting for further confirmation before engaging in shorting opportunities. The four hour chart is on the rise to the previous resistance, but ensure to match your time zone with your trading house broker time. There's presently a violation of the previous high on both the four hour and one hour charts, so it's not ideal to short yet. If you're seeking a buying opportunity, keep an eye out for a pullback at 144.79. On the four hour chart, there's a trend line waiting for a retest at this level. Ensure to wait for candle close before entering trades and watch for the market respecting the trend line. Personally, I choose to look for a buying opportunity at 147.49. My initial stop-loss will be placed at 147.15, and target 1 at 147.94. However, please note this isn't trading advice, so be sure to conduct your own analysis and not follow blindly.
Long
by RaynLim
#GBPAUD Short term selling opportunityAlthough in long-term view price is in bullish Daily and weekly move, but in short term price managed to form bearish market structure ( I mean 4H and 1H timeframe ) so its possible to look for selling opportunities but with extra cautious. As we can see in the chart we have valid 4H bearish channel, price recently broke below supportive area which hold price higher for 3 time and now can act as a resistance, price also below 4H EMA and seems like going to test it again, price also around our channel middle line which can also act as resistance.
Short
by mohemati
1
Navigating Counter-Trend Waters: AUDUSD InsightsThe AUDUSD's prolonged bearish journey has sparked interest among traders seeking a potential rebound. However, it's vital to remember that market dynamics don't always adhere to expectations. For those exploring counter-trend opportunities, the presence of an over-extended Bullish Shark Pattern accompanied by a Bullish Trendline forms an intriguing combination. Exercise caution and await confirmation before entering the trade. Keep in mind, once the candle breaches the Bullish Trendline, this setup loses its validity. 📊🔄
Long
by RaynLim
1
Rediscovering a Classic: GBPUSD TradingAh, the good old days! This GBPUSD setup takes me back to my early trading days. The strategy? Simple yet effective: buy at support, sell at resistance. While some may view it as a scalping trade, dismissing it as low volatility, here's the kicker — there's a potential 56 pips in profit. 💰 My game plan? Patience. I'll wait for the next support retest, keeping an eye out for that magic candle confirmation before making my move to buy. Alternatively, if the market hits resistance, I'll await the same confirmation before considering a sell. 🕯️🔄
by RaynLim
📈🚀 Seize the Moment: Epic Buying Opportunity on S&P 500! 📈🚀Hey traders, get ready to ride the wave of profits with an exciting setup on the S&P 500! 🌊📊 A golden opportunity has surfaced, and it's time to capitalize on a potential bullish rally. In the 4-hour timeframe, we're witnessing the stars aligning for a buying spree that could lead us straight to the coveted 4570 target. 🎯🦅 The Double Bottom Delight: Hold tight as the price action unveils a mesmerizing double bottom formation. This pattern is like a green light for bullish momentum, signaling a potential upward surge. 🚀 The beauty lies in the symmetry, and we're ready to ride this pattern to its fullest potential. Harmonic Bat Pattern: Point D in Sight! 🦇🎯 Prepare for some harmonic magic! The stars of the show are aligning as we approach the mesmerizing point D of the harmonic bat pattern at 4570. Brace yourself for a journey towards this target, riding the wave of pattern completion and potential profits. Candlestick pattern: Doji Breakout! 🕯️🚀 The magic continues with a "long-legged Doji" candlestick, signaling a breakout like no other. This is the ultimate call to action – a signal to buy this dip and ride the upward momentum. 📈🕯️ Moving Average Mastery: Crossover Confirmation! 📈✨ Get ready for a symphony of confirmation! The moving averages are about to cross over, a sign that amplifies our scenario. This crossover is like a nod from the universe, signaling that it's time to jump on board and enjoy the ride. MACD Marvel: Bullish Momentum Amplified! 🚀💥 The MACD indicator joins the party, forming a fresh crossover to the upside. This is the stamp of approval we've been waiting for – a clear signal that bullish momentum is skyrocketing. 📈💪 The Game Plan: Entry: Buy around 4420 Stop Loss: Below 4407 Target: 4470 (with partial profit-taking along the way) Remember, smart trading involves not only the entry but also the exit strategy. Keep an eye on those partial profit-taking points as we journey towards the 4470 target. 🎯💰 Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you think this insight was helpful 🌊🚀
OANDA:SPX500USDLong
by Thomas_Zito
16
NZDCHF Short-term bullish continuationOn Thursday price manage to form a bullish strong candle which as a result broke 4H bearish market structure to the upside, since then price been in bearish corrective move and testing broken structure which now acting as important support for the price and price already rejected twice from this area. For more confluences we can see price is close to 61.8% #fibonacci level and 1H EMA200 both acting as support for the price and possible turning point for the price. In order for me to take a long position on this chart I want to see price taking liquidity from the recent low which I drew an arrow from it and failing to close below the arrow and also forming some form of bullish candle stick pattern such as #hammer #bullish engulfing or #morning_star to be convinced to take a long position
Long
by mohemati
Market Stands Firm on Support!📊 Weekly Chart: Long shadow at support, prior resistance. 📈 Daily Chart: ABCD pattern, respecting support. 🕓 Four Hour Chart: Counter-trend trade possibility. ⏳ One Hour Chart: Bullish bat pattern, wait for confirmation. 🌟 Weekly Chart Insight: - Market stands still in buy zone. - Different from Eurodollar. 📊 Daily Chart: - ABCD pattern, support respected. - Previous trade resulted in 219 pips gain. 💡 Trading Opportunities: - Confirmation of support for a buy. - Counter-trend trade in the sell zone. 🦇 One Hour Chart: - Bullish bat pattern. - Wait for consolidation or double bottom. - Use RSI Divergence for confirmation.
Long
by RaynLim
Bearish Signs Emerging!📊 Weekly Chart: Overall bullish, but watch current candle. 📈 Daily Chart: Bearish movement, key level 1.0766. 🕓 Four Hour Chart: Sensitive period, focus on 1.0766. ⏳ One Hour Chart: Multi-timeframe analysis. 🔍 Higher Timeframes: Confirm breaks below key levels. 🚀 Aggressive Short Opportunity: Wait for trend line retest. Look for break below 1.0705 or 1.0651. 📉 Weekly Chart Analysis: Trend line broken. Set alerts for retest. Consider aggressive shorting. 📊 Daily Chart: Wait for retest for aggressive short. Potential 130 pips opportunity. 🦈 Four Hour Chart: Shark pattern may be invalid. Customize chart for accuracy. 📈 One Hour Chart: AB=CD movement. Wait for 3-bar reversal for buying. Double bottom with RSI divergence.
by RaynLim
EUR/USD 1H Setup: Fibonacci Retracement and Rounding Bottom 📈🚀Calling all traders! We've got a fantastic EUR/USD setup unfolding on the 1-hour timeframe that you won't want to miss. Here are the key details: 🔑 Technical Analysis Highlights 🔑 📊 Fibonacci Magic: After a strong rally, EUR/USD retraced precisely to the 0.618 Fibonacci retracement level. A classic retracement pattern, indicating potential bullish strength. 🔄 Rounding Bottom Formation: The price has consolidated beautifully at the 0.618 level, forming a visually appealing rounding bottom pattern. The icing on the cake? The last candle is a bullish pinbar candlestick, signaling a potential upward reversal. 📈 RSI Confirmation: The RSI indicator supports this scenario, currently residing in the oversold territory, suggesting that a bullish move may be in the cards. 📊 Trade Strategy 📊 With these compelling technical signals, the strategy is clear: seize this buying opportunity on EUR/USD. Place your stop loss just below the pinbar, around 1.08320, to manage risk effectively. 🎯 Take Profit Targets 🎯 1️⃣ First Target: 1.09000 2️⃣ Second Target: 1.09400 3️⃣ Ultimate Target: 1.01000 Remember, trading carries inherent risks, and it's crucial to conduct thorough research and employ risk management techniques. Best of luck with your trades, and may they be highly profitable! 💰🚀📈 Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful 🌊🚀
Long
by Thomas_Zito
3
Pound-Dollar: Bearish SentimentsHey traders! 🌟 Despite the ongoing bullish trend in the pound-dollar realm, I'm sensing a change in the wind, and here's why I'm turning my attention towards a bearish shorting opportunity. Let's break it down. On the weekly chart, the bullish vibes are strong within our buy zone. But wait, when we shift to the daily chart, we spot a sneaky closing below that initial support at 1.2592. 📉 While it's not a full-on bearish alarm, it's giving us room to explore an aggressive short approach. Zooming into the four-hour and one-hour charts, it's clear that a bearish trend is asserting itself. 🐻 Now, back to our trusty weekly chart analysis. As I mentioned, we're still in that buy zone, but I've got my eye on that slight break and close below the support. The trend line isn't looking too happy. 😟 For a potential shorting play, I'm keeping an eagle eye on a pullback to that level. Speaking of daily charts, a bearish shark pattern might just become my ally for a shorting endeavor. 🦈 And for those of you eyeing buying opportunities, 1.2407 could be your spotlight, where the market's response could tell us tales. Hopping over to the four-hour chart, an immediate resistance level at 1.2656 might just be our cue for an aggressive shorting move. And in the land of the one-hour chart, if buying's your jam, there are two paths – the retest of support at 1.2553 or a dance with the ABCD pattern at 1.2542. Isn't it fascinating how one market can offer different opportunities, based on your angle of approach? Whether you're up for trend trading or counter-trend adventures, the choice is yours.
Long
by RaynLim
Bulls and Bears in the SpotEver wondered about the intricate tango between bulls and bears in the trading world? 🕺💃 Let's take a peek at the Euro-dollar's current moves on the weekly chart. While the bullish trend has held its ground, recent weeks have seen the bears making their mark. But, there's a key level – 1.0637 – that holds the secret to shifting the scene. A break below this level could paint a different picture, turning a stronger bull into a weaker one. Zooming into the daily chart, it's clear that the market is in a delicate balance. A breach below 1.0637 could mark the transition from bullish to bearish. But it's not just black and white – both the four-hour and one-hour charts show their own stories of bearish movement. 📉📊 In this thrilling scenario, we have two trader groups with differing opinions. This is where the magic happens. Both buyers and sellers can potentially rake in profits, timing their entries and exits just right. Aggressive traders might pounce on a shorting opportunity with higher timeframe confirmation, while the conservative ones seek more clues before engaging. Ready to dive into this intriguing trading universe? Now, let's return to our weekly chart adventure. The trend line might have been crossed, but the true test lies in 1.0637. For those braving the bearish waters, a retest at the trend line could be your golden ticket. 🎫🐻 But hey, you can always set your trend line alerts, adapting to your strategy. If buying is your game, keep an eye on 1.0737 for a possible retest opportunity. On the four-hour chart, our aggressive traders spot a chance in the retest of the trend line. Stay within those lines, and the shorting opportunity might be just around the corner. And for the one-hour chart enthusiasts, the red and blue lines reveal a potential 40 pips journey. Got more to discuss? Want to crack the code of profitable trading in just 15 minutes a day? 🕰️
by RaynLim
BluetonaFX - EURUSD Morning Star Opportunity Hi Traders! We have a morning star opportunity here on the EURUSD 1D chart. After the impulsive wave to the downside, the market has now found support around the 1.08336 level, and a morning star candle pattern has formed, confirming to us a potential pullback or reversal of the bearish trend. We are now looking for a retracement wave upward; we have our first target at 1.10011 and a second target at 1.10566. This is a good risk-reward opportunity, as we are trading near a strong support level. That being said, we must exercise a bit of caution as we are still under our 20 EMA. Ideally, we are looking for a push to get back above the EMA, which will give us additional confirmation of a potential pullback or reversal. Please remember to like, follow, and comment, as your support greatly helps. Your support is greatly appreciated. BluetonaFX
by BluetonaFX
4
Trading precision!Please search for my previous post, where I anticipated the last available effective demand zone and how important it was. Sure enough, price reacted on Friday and it's already taking H4 highs as mentioned. This is not a flex, as it's possible to do this very often with high precision, but an attempt to demonstrate how important it is to have a clear analysis and the ability to read price. This way, you'll always know what to do, even when you're wrong and when that happens, it doesn't feel painful because you know exactly what's going on. FULL DISCLOSURE: I did not hold the position over the weekend, I closed it on Friday and took another long yesterday based on the same idea. How you manage the position is a different topic.
Long
by CirculoForex
New week, new opportunities!I’m expecting the week to start and take all of the liquidity above those highs (red dots). The volume of that move higher will be very important to take into consideration. The issue is, the week needs to make a new low and that fact alone will probably give bears an advantage from my POV. To make a significant low on the weekly, price will probably have to break H4 structure and if it does, the next demand that I’ll be paying attention is around 1.075. As traders, we need to take into consideration different scenarios and how to act upon them. So here’s how I’ll trade next week. If price starts breaking bellow Fridays low, I’ll start looking for shorts aggressively and considering the possibility that it will reach 1.075. When it does, I’ll look for longs, because price should take liquidity from above, before continuing with bearish momentum if that’s the case. Also important to notice that level is inside weekly demand and if it breaks, the bearish momentum would be very aggressive. I don’t consider that as likely to happen, unless there’s some catalyst from high impact news. The other scenario that I’ll be looking for, is price holding Fridays low and continue higher to take the liquidity as mentioned above. In that case, I’ll consider shorts from around 1.097 BUT since price is coming from daily demand it will depend on how it gets there and even if I take positions, I’ll manage my expectations about the results. Monday and Tuesday don’t have any high impact news, which is perfect for price to grind higher, which is my main expectation for the beginning of the week. Wednesday there’ll be PMI data on EU and US, should be very volatile. Thursday, unemployment claims from the US and Friday consumer sentiment and Powell speech after. The goal is to remain truthful to the plan and enjoy trading for what it is!
Long
by CirculoForex