Candlestickpattern
SPX: Bullish Reaction Above Golden Cross.• The SPX is doing a very powerful reaction above a critical support level;
• First, as seen in the daily chart, it hit the 3,949 support, and it is doing a powerful reaction. Last Thursday it did a Bullish Engulfing, and las Friday, it broke the 21 ema and the 4k;
• In the weekly chart, it is doing a Hammer candlestick pattern, a bullish reversal pattern that works 60% of the time (according to Bulkowski – Encyclopedia of Candlestick Charts);
• In addition, this Hammer appeared just above the purple line, which was a previous resistance when the SPX was inside a Descending Channel;
• Moreover, this Hammer appeared above the 200 ma, after the index made a Golden Cross (the 50 ma broke the 200 ma upwards);
• All these signs indicate that although the index may look overbought short-term wise, it has decent chances of maintaining the bullish bias mid/long-term speaking, especially if look at the weekly chart;
• I’ll keep you updated on this.
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An important week for EURUSD Several impactful news coming up this week that will determine the trend.
We’re monitoring the opportunities for starting an up trend but there is still no grounds for entry.
Upon another decline back to 1,0550 we will watch for a reaction and this could be the first opportunity.
EURUSD is currently on an important resistance and we’re watching for a pullback.
Trendline meetsOn the Daily Chart (right), we have the potential Bullish Flag Pattern forming. If Flag Pattern didn't happen, a retest on the support line at 1.1937 with an RSI Divergence gives traders who are looking for a buying opportunity a push to enter the trade.
On the 4-hourly chart(left), the parallel channel meets at the same price region of the daily chart at 1.1932, which definitely brings me interest in waiting for a retest and waiting for a buying opportunity.
USDCADHi guys!"
USDCAD has been examined in different dimensions:
1- Strong supply and demand levels that I identify with my own indicator and system.
2- The structure of recently formed waves
3- Current market momentum
4- The structure of classical and price patterns
In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis.
In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram.
⚠️ Disclaimer:
This is a personal opinion and you are responsible for any trading decisions.
Opportunity to buy some Gold$1824.47 is a Great price for me to engage the Gold on a buying opportunity, especially a Bullish Shark Pattern has shown me an opportunity to get involved.
Normally I don't like to engage the trade on a Friday evening(SGT), but a trade like this with RSI Divergence it's hard to say no.
EURUSD has no strength to reverse Yesterday we commented on possible EURUSD reversal.
The possible entries were upon breakout of 1,0700 or after a correction.
Non of them were confirmed and a decline followed, showing us that EURUSD does not have the strength to reverse the trend now.
In this case it’s more likely to see breakout of the bottom at 1,053.
The next supply level is 1,0440.
A possible EURUSD trend reversal Yesterday we saw a momentum move in the EURUSD, which broke above the previous high of 1.0645.
Thus, we have higher bottoms and higher tops of H1.
All sales should be closed and we are looking at buying opportunities.
The reversal has not yet been confirmed and there is no need to rush into new trades.
There will be suitable opportunities during a correction or after a break and test of 1.0700.
Bullish Trends Start in 1 HR TF for TRB USDTBINANCE:TRBUSDTPERP
Bullish Trend starts in the 1 Hr TF. In this case, the bullish engulfing candle shows that buyers are dominating the market and pushing the price upward. TRB tries to break previous H.H levels.
EP 18.32
SL 17.27
DF 1.05
TP1 19.37
TP1 20.42
XAUUSD (GOLD) PERFECT BEARISH SETUPOANDA:XAUUSD
HI , TRADER'S ..As we predicted , market reached our TP
now market is trading in support and resistance zone
1823$ to 1845$ range , Market can stay in this range for couple of day's
Sell at resistance and buying at support recommended
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Sales on EURUSDYesterday EURUSD made another move towards 61,8 and pulled back.
These were the first selling opportunities.
We’re now expecting a small correction and another decline.
The first target is breakout of the previous low at 1,0537.
Upon reaching that level it’s recommended to lower the risk.
The ultimate goal remains unchanged and we expect reaching 1,0440.
New sells on EURUSD Yesterday EURUSD rose to 1,0620. This is a resistance level and 50% correction of the last drop.
It is still possible to see another upside move to 61,8 before the bearish movement continues.
Upon confirmation we will be looking for entry with target previous low and reaching 1,0440.
The scenario breaks up on rise above 1,0700.