Bullish Butterfly Pattern retestA Bullish Butterfly Pattern retest give traders who were looking for buying opportunity to engage the trade. What I like about this setup is that a clear RSI Divergence is within the butterfly pattern
Candlestickpattern
The Reason Behind My Strong Inclination to Buy AUDCADIf you have been keeping up with my previous analysis, you would have known that my strong interest in buying the AUDCAD is not a crazy obsession, but a well-informed decision based on market trends and patterns.
In fact, if you had engaged in the trade last week, you could have earned a substantial amount of profit, up to 139pips or approximately 1,390 USD per lot .
This week, the market will be testing the 5-0 pattern on the 1-hourly chart for the first time, which could potentially provide another opportunity to hop on this bullish trend.
By identifying the right confirmation pattern, you could take advantage of the Bullish 5-0 Pattern on the weekly chart and not miss out on this trade once again.
Don't underestimate the power of staying informed and being prepared to make strategic moves in the market.
Bullish, Planning to Buy & HoldDespite being within the sell zone on the weekly chart, there has been a clear break and close above the previous structure.
This has led me to adopt a bullish stance on the mid to long-term outlook and I'm currently waiting for a buying opportunity on the 1-hourly chart.
The buying opportunity may arise either at the trendline, if the candle touches it but doesn't break and close below it, or at the support level of 1.2556, which could provide another potential entry point for a long position.
Stay alert for these potential opportunities to capitalize on the market's movement.
Executing Mid to Long-Term Short Position on This TradePatiently waiting for a prime shorting opportunity on EURUSD as the market struggles to breach the crucial level of 1.1093 on the weekly chart.
My strategy involves utilizing the Bearish Shark Pattern setup, which shows completion at 1.1097 on the 1-hourly chart. With a calculated approach and keen attention to market behaviour, I am poised to execute a confident and informed trade decision.
Selling Climax Pattern!The candlestick signs a weak demand. Hence, a downtrend pattern emerged where the price closed below the S1 line due to a price being pushed down by a strong Bearish pressure. A strong counterattack of Bullish pressure is required to break the decline. As a result, when "Smart Money" is in need to break a strong decline, they have to put a lot of buying pressure and strong volume surge.
MACD and RSI confirm the price downtrend pattern.
The S2 line will be the next low price if the price steadily declines due to weak demand from the buyer.
Let's save LCTITAN in WL for the possibility of a reversal up signal could be expected.
S1 1.25, S2 1.10, S3 1.00
KEI INDUSTRIES 5/15 min short term tradeTrade for NSE:KEI 1-3 day on 5/15 min time frame. BO above 1902 could possible give up move considering INSIDE BAR pattern. RRR is not so attractive because of short term trade.
NVDA: 2 Top Signals Under a Powerful Resistance - What's Next?• NVDA finally hit its long-term target this week, the 289 resistance, which I mentioned in my previous public analysis (the link to it is below this post, as usual);
• It has been correcting since then, as it did a top signal just under our 289 resistance (Bearish Harami). However, the trend is still bullish, as NVDA is still doing higher highs/lows and it is still above the 21 ema;
• Despite this correction, there’s no clear technical bearish reversal pattern around;
• The 21 ema is supposed to act as a support now, but if it doesn’t, the main support line is the 262 – only by losing this line NVDA might reverse the mid-term trend and trigger a sharper pullback in the weekly chart.
• In the weekly chart we see that the candlestick is quite bearish – so far, it is a Shooting Star, and it appeared right under the 289 resistance (green line), another top signal, if it closes this week looking like this;
• If NVDA loses its key support level in the daily chart, a sharper correction in the weekly chart is plausible, and the 21 ema would be our next target;
• Even a correction to the 21 ema wouldn’t ruin the long-term bullish bias, however, it would frustrate the bull trend in the daily chart;
• For now, let’s pay attention to how NVDA is going to react now that it is close to the 21 ema in the daily chart.
I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
EURUSD before ECBYesterday the FED raised interest rates and we saw big fluctuations across all instruments.
Today is the ECB’s turn to announce interest rates, also expected to rise by 0.25%
This will lead to new swings in EURUSD and confirmation of the direction.
We watch for a breakout and test of yesterday's news levels to enter new trades.
Ichimoku SwingHere a swing forms. The bearish engulfing pattern is followed by a doji harami pattern...there are other patterns but they are incomplete. The cloud helps time entries for late resistance. If the swing is reversing bearish, fill bearish under the engulfing swing -- on the bearish side of the cloud. Note: the lows are first order volatility, so omit them...the highs are second order volatility, so include them.
Profitable Shorting Opportunity Presenting ItselfWithin the consolidation zone, a bearish shark pattern has emerged, and with the presence of a magic candle, it presents an opportunity for an aggressive trade entry.
The consolidation phase offers a prime opportunity to identify harmonic patterns.
Learn the Strongest Reversal Candlestick Patterns
Hey traders,
In this educational article, we will discuss powerful reversal candlestick patterns that every trader must know.
Bullish Engulfing Candle
Bullish engulfing candle is one of my favorite ones.
It usually indicates the initiation of a bullish movement after a strong bearish wave.
The main element of this pattern is a relatively big body. Being bigger than the entire range of the previous (bearish) candle, it should completely "engulf" that.
Such a formation indicates the strength of the buyers and their willingness to push the price higher.
Bearish Engulfing Candle
The main element of this pattern is a relatively big body that is bigger than the entire range of the previous (bullish) candle.
Such a formation indicates the strength of the sellers and their willingness to push the price lower.
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Bullish Inside Bar
Inside bar formation is a classic indecision pattern.
It usually forms after a strong bullish/bearish impulse and signifies a consolidation.
The pattern consists of 2 main elements:
mother's bar - a relatively strong bullish or bearish candle,
inside bars - the following candles that a trading within the range of the mother's bar.
The breakout of the range of the mother's bar may quite accurately confirm the reversal.
A bullish breakout of its range and a candle close above that usually initiates a strong bullish movement.
Bearish Inside Bar
A bearish breakout of the range of the mother's bar and a candle close below that usually initiates a strong bearish movement.
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Doji Candle (Morning Star)
By a Doji we mean a candle that has the same opening and closing price.
Being formed after a strong bearish move, such a Doji will be called a Morning Star. It signifies the oversold condition of the market and the local weakness of sellers.
Such a formation may quite accurately indicate a coming bullish movement.
Doji Candle (Evening Star)
Being formed after a strong bullish move, such a Doji will be called an Evening Star. It signifies the overbought condition of the market and the local weakness of buyers.
Such a formation may quite accurately indicate a coming bearish movement.
I apply these formations for making predictions on financial markets every day. They perfectly work on Forex, Futures, Crypto markets and show their efficiency on various time frames.
❤️Please, support my work with like, thank you!❤️
WHY NIFTY WENT UPWARDS TODAY - 28/04/23
Nifty took support twice from yesterday's resistance zone (resistance was tested twice yesterday)
Cradle pattern involving doji, hammer, hanging man was formed in the middle of the day indicating upcoming sudden directional movement which came later in the day
No trades on EURUSDTomorrow the FED is expected to rise interest rates to 5,25%.
We prefer to wait for the news to pass before looking for new trades.
Yesterday we saw a new attempt to rise, followed by sharp decline and test of the lows around 1,0960.
Upon a new test it’s possible to see breakout and heading towards 1,0900.
For new entries, we’ll wait for the news to pass and movement to be confirmed.
Important week for EURUSD Interest rate decisions from the FED and ECB are due this week.
This news will determine the direction in which we will look for trades.
For now, EURUSD continues to make higher highs and higher lows.
On a break of 1.1086, the next resistance is at 1.1153.
An important support level is 1.0908.
A retest of support and Safe House is nearThis particular trading structure may be viewed as an aggressive approach, but it presents a compelling setup for counter-trend traders. The first target is in close proximity, affording the opportunity to adjust our stop-loss to entry once the market reaches that level. This grants us a Risk-Free Trade, providing a favorable risk-to-reward ratio for traders who employ this tactic.
Critical Support Level Identified for GBPUSDOn closer analysis of the GBPUSD on a higher timeframe, it is evident that the candlestick has closed above the previous high, thereby confirming the bullish trend of the currency.
However, one must exercise caution before diving in, as the current market price is currently situated on the weekly chart supply zone, which traditionally indicates a sell zone.
Nevertheless, my outlook remains bullish on the GBPUSD, and I plan to take a measured approach by waiting for the market to retrace back to 1.2500 and watch out for a Double Bottom on the 1-hourly chart before making any trading decisions.
This strategy will enable me to minimize risk while maximizing potential returns.
Profit in Both Bull and Bear MarketsThe EURUSD demonstrates a clear bullish trend based on the current market conditions. As a result, trend traders may seek to capitalize on potential buying opportunities at the support level of 1.0967.
Conversely, counter-trend traders may be interested in shorting the currency pair at the resistance level of 1.1035-1.1044 while placing initial stop-loss orders above 1.1067 to minimise risk. With a well-defined plan, traders can confidently approach the market from either direction and potentially reap substantial profits.
ETH 1M candle The ETH monthly candle closes in 2 days and it looks like a pinbar will be formed,
what do you think? 🤔
I'm not sure about the 🟢 and I'm looking more for the 🔴 position
Important levels on EURUSD During the yesterday’s news we saw fluctuations in range 1,1000-1,1060.
Currently, it’s important to see breakout outside of that candle.
Key support level is 1,1000.
Upon pullback from this level we can expect another rise towards 1,1060 and test of the previous tops.
On breakout , we’re headed for a test of 1,0960 and the previous lows.
Advantages of Haiken Ashi over traditional candles [CRYPTO]Haiken Ashi candles are a very popular type of charts used in Forex trading. Unlike traditional Japanese candles, the Haiken Ashi chart uses a special algorithm to process the price data, which makes it easier to read trends and market direction.
Benefits:
What are the benefits of using Haiken Ashi candles? First of all, such charts allow us to detect market trends more clearly and easily read. In addition, Haiken Ashi charts allow us to more easily determine entry and exit points of positions, as well as determine stop loss and take profit.
Construction of Haiken Ashi candles:
Let's start by defining what Haiken Ashi candles actually are. These candles differ from traditional Japanese candles in many ways. First of all, in Haiken Ashi charts, the opening price of each new candle is the average of the opening and closing prices of the previous candle. The closing price, on the other hand, is the average of four values: the opening price, the closing price, the highest price and the lowest price. As a result, the opening and closing price of subsequent candles lags behind traditional Japanese candles.
Advantages of Haiken Ashi:
How can we use Haiken Ashi candles in Forex trading? First of all, it allows us to detect market trends more clearly and easily read. As a result, we can more easily determine entry and exit points for positions, and determine stop loss and take profit.
Strategies:
Trend strategy - involves using Haiken Ashi candles to identify market trends. For an uptrend, we wait for a series of green candles to appear, while for a downtrend, we wait for a series of red candles to appear. Once the trend is identified, we can open a position according to its direction.
Double candlestick strategy - involves waiting for the occurrence of two consecutive Haiken Ashi candles of opposite colors. When a red candle is followed by a green candle, this is a buy signal. On the other hand, when a green candle is followed by a red candle, it is a sell signal.
Inner candle strategy - involves waiting for the appearance of the Haiken Ashi candle, the body of which is completely contained in the body of the previous candle. When such a situation occurs, we can open a position according to the direction of the trend.
Reversal candle strategy - consists in waiting for the appearance of a long red candle after a series of green candles or a long green candle after a series of red candles. The appearance of such a candle may indicate a reversal of the trend, which gives a signal to open a position against the existing trend.
In conclusion, Haiken Ashi candles are a tool that can be very useful in Forex technical analysis. With this tool, we can more easily detect market trends, determine entry points.
On the other hand, Haiken Ashi candles are an addition to a set of various indicators for technical analysis. In our Manticore Invesmtents Scalping strategy, we combine Haiken Ashi candles with a strategy based on RSI and Bollinger Bands.
In the next parts of the tutorials, let's describe the use of RSI and BB.
Advantages of Haiken Ashi over traditional Japanese candlesHaiken Ashi candles are a very popular type of charts used in Forex trading. Unlike traditional Japanese candles, the Haiken Ashi chart uses a special algorithm to process the price data, which makes it easier to read trends and market direction.
Benefits:
What are the benefits of using Haiken Ashi candles? First of all, such charts allow us to detect market trends more clearly and easily read. In addition, Haiken Ashi charts allow us to more easily determine entry and exit points of positions, as well as determine stop loss and take profit.
Construction of Haiken Ashi candles:
Let's start by defining what Haiken Ashi candles actually are. These candles differ from traditional Japanese candles in many ways. First of all, in Haiken Ashi charts, the opening price of each new candle is the average of the opening and closing prices of the previous candle. The closing price, on the other hand, is the average of four values: the opening price, the closing price, the highest price and the lowest price. As a result, the opening and closing price of subsequent candles lags behind traditional Japanese candles.
Advantages of Haiken Ashi:
How can we use Haiken Ashi candles in Forex trading? First of all, it allows us to detect market trends more clearly and easily read. As a result, we can more easily determine entry and exit points for positions, and determine stop loss and take profit.
Strategies:
Trend strategy - involves using Haiken Ashi candles to identify market trends. For an uptrend, we wait for a series of green candles to appear, while for a downtrend, we wait for a series of red candles to appear. Once the trend is identified, we can open a position according to its direction.
Double candlestick strategy - involves waiting for the occurrence of two consecutive Haiken Ashi candles of opposite colors. When a red candle is followed by a green candle, this is a buy signal. On the other hand, when a green candle is followed by a red candle, it is a sell signal.
Inner candle strategy - involves waiting for the appearance of the Haiken Ashi candle, the body of which is completely contained in the body of the previous candle. When such a situation occurs, we can open a position according to the direction of the trend.
Reversal candle strategy - consists in waiting for the appearance of a long red candle after a series of green candles or a long green candle after a series of red candles. The appearance of such a candle may indicate a reversal of the trend, which gives a signal to open a position against the existing trend.
Veiling candle strategy - involves waiting for the appearance of a large Haiken Ashi candle, the body of which completely obscures the body of the previous candle. In this case, we can open a position according to the direction of the trend.
In conclusion, Haiken Ashi candles are a tool that can be very useful in Forex technical analysis. With this tool, we can more easily detect market trends, determine entry points.
On the other hand, Haiken Ashi candles are an addition to a set of various indicators for technical analysis. In our Manticore Invesmtents Scalping strategy, we combine Haiken Ashi candles with a strategy based on RSI and Bollinger Bands.
In the next parts of the tutorials, let's describe the use of RSI and BB.
NZDJPY: ShortAs previously analyzed chart, I was anticipating for the price to make a correctional move to the 82.2 level of resistance. The price managed to reach the level and now I expect the price to make an impulse move toward the 81.15 area of support.
Important USD news Today GDP data is going to be released.
We expect the news to have an impact and cause fluctuations.
We will look for new trades after the news when the direction is confirmed.
If the uptrend continues the next resistance levels are 1.1154 and 1.1276!
