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Candlestickpattern

📊 Candlestick CheatsheetCandlestick charts are commonly used in trading to analyze market trends and make trading decisions. Candlesticks can be categorized as bullish or bearish, depending on whether the price has increased or decreased over a given period. It is important to note that while candlestick patterns can be useful in predicting market movements, they should not be used in isolation, and other indicators and analysis should also be considered. It is also important to have a clear understanding of the market and its underlying fundamentals before making any trading decisions. 🔹 Rails The rails pattern is a two-candlestick pattern that typically occurs during a downtrend. The first candle is a long red candle, followed by a long green candle that opens below the previous day's close but closes above it, creating a rail-like pattern. 🔹 Three White Soldiers The three white soldiers pattern is a bullish pattern that consists of three consecutive long green candles with small or no wicks. It typically occurs after a downtrend and suggests a reversal in the market's direction. 🔹 Three Black Crows The three black crows pattern is a bearish pattern that consists of three consecutive long red candles with small or no wicks. It typically occurs after an uptrend and suggests a reversal in the market's direction. 🔹 Mat Hold The mat hold pattern is a five-candlestick pattern that occurs during a bullish trend. It consists of a long green candle, followed by three small candles with lower highs and higher lows, and ending with another long green candle. 🔹 Pinbar The pinbar pattern is a single candlestick pattern that has a long tail or wick and a small body. The tail should be at least two times the length of the body. The pattern suggests a reversal in the market's direction. 🔹 Engulfing The engulfing pattern is a two-candlestick pattern that occurs when the second candle's body completely engulfs the previous candle's body. A bullish engulfing pattern occurs during a downtrend and suggests a reversal in the market's direction, while a bearish engulfing pattern occurs during an uptrend and suggests a reversal in the market's direction. 🔹 Morning Star The morning star pattern is a three-candlestick pattern that typically occurs after a downtrend. It consists of a long red candle, a small candle, and a long green candle, with the small candle gapping down from the previous day's close. The pattern suggests a reversal in the market's direction. 🔹 Evening Star The evening star pattern is the opposite of the morning star pattern and typically occurs after an uptrend. It consists of a long green candle, a small candle, and a long red candle, with the small candle gapping up from the previous day's close. The pattern suggests a reversal in the market's direction. 👤 @algobuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
5
TSLA: About to Continue the Bullish Rally.• Since TSLA did its top sign last week, it lost the $200 support and it has been correcting; • For now, there’s no meaningful bullish reaction indicating that this pullback is over; • In order to completely reject last week’s top sign (Evening Star Doji), TSLA must break $214, the Star’s high; • The next technical support is at $182, and TSLA still could get there, if we don’t see a clear bullish reaction first; • The $200, our previous support, is a possible resistance now. If TSLA breaks it this week, we might see a promising bullish reaction ahead; • I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analyses!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
6
📍 The 5 Step Process1️⃣ MARKET STRUCTURE The market structure has a significant impact on the formation of prices, dissemination of information, and execution of transactions. In the context of stock trading, market structure can also refer to the pattern of price movements in a downtrend, characterized by lower highs and lower lows. This pattern indicates that prices are consistently decreasing over time and that selling pressure is outweighing buying pressure. The market structure in a downtrend can provide important information to traders and investors about the overall sentiment in the market and can inform their decision-making process. 2️⃣ PSYCHOLOGICAL LEVEL A psychological price level in trading refers to a price point that is believed to have a significant impact on market participants' behavior and decision making. These price levels are usually round numbers, such as $50 or $100, or important milestones, such as all-time highs or lows, and are often used as reference points in trading. Market participants often view psychological price levels as significant barriers that need to be breached or defended in order to signal a change in market sentiment. 3️⃣ FIBONACCI Fibonacci retracement is a technical analysis tool used in stock trading to identify potential levels of support and resistance. It is based on the idea that prices will tend to retrace a predictable portion of a move, after which they will continue to move in the original direction. The tool is used by drawing a trendline between two extreme points and then dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%. 4️⃣ TRENDLINE A trendline in trading is a straight line drawn on a price chart to identify a current trend in the market. The trendline is drawn by connecting two or more price points and is used to identify the direction of the trend, either up, down, or sideways. If the trendline is sloping upwards, it is considered an uptrend, and if it is sloping downwards, it is considered a downtrend. 5️⃣ CANDLESTICK A twizzer bottom is formed when a long green candle is followed by a red candle that closes below the midpoint of the first candle. This pattern indicates that the buying pressure that was present in the first candle is being replaced by selling pressure, and suggests a potential reversal from an uptrend to a downtrend. It's important to note that a twizzer candlestick pattern is just one piece of information and should not be relied upon solely when making trading decisions. It is often used in conjunction with other technical analysis tools and indicators to form a more comprehensive view of market conditions. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
by QuantVue
2
GBPCHF: pretty interesting patternHi guys, yesterday while looking at my charts I noticed quite an interesting GBPCHF model. In the chart above, you can see the pattern that I have drawn, how after every big and sharp drop, there is a consolidation for about 3 touches and then the price makes an ascent to the existing trendline made by the recent highs. I am not saying here that you should go long now and wait 1-2 months for it to reach TP, but you may consider entering multiple long positions with shorter TPs. You can take this as the general trend direction for the near future of GBPCHF. I personally will do just that and if this pattern repeats I will milk quite a lot out of GBPCHF for the next 1-2 months.
Long
by JivkoXristov
TSLA: Did a Top Signal.• TSLA is doing a top sign, and it is showing some weakness; • Since TSLA is losing the $200, and it did a top sign, the next technical stop is the $182; • The last 3 candlesticks form what appears to be an Evening Doji Star, which according to Bulkowski’s studies, works as a bearish reversal 71% of the time; • Therefore, a correction wouldn’t be surprising, especially when we realize how far TSLA is from its 21 ema right now. The mid-term bias is still bullish, despite the possible correction. In this scenario, any bullish reaction above a clear support (the $182, or even the 21 ema) would be just an opportunity to buy, as the bias would still be bullish, and the Risk/Reward Ratio would be very good; • I’ll keep you updated every day on this. Remember to follow me to keep in touch with my daily analyses!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
2
GBPJPY 4HR Weekly Projection - Which way will we Breakout?!Hey guys, GJ is still consolidating and is just accumulating liquidity right now. It is creating some sort of 'Flag', but as you can see, its also consistently hitting each fib as its creating the Higher Lows in that 'flag'. All it is doing now is just enticing everyone to take either buys or sells before it breaks out. The 2 options plotted are just my 2 main projections for the time being, and if it doesn't react that way I will OfCourse, readjust and reanalyze my views because remember - we are not fortune tellers, we just react TO price action and not predict it :) Option 1 - Price may come up and remove all bearish liquidity from all the Support and Resistance Traders that have sold from there (nothing wrong with that) and also fill that imbalance in price. Don't forget that the Overall Higher Timeframe Fib is there so it will hit that too. There is so many confluences for price to fulfill if it breaks out bullish, but also don't forget, it doesn't NEED to do that straight away it can breakout bearish and then come back for the fib, imbalance and liquidity later on. Option 2 - If price breaks out bearish it will remove all the buyers who bought at the fibs and the prior lows. I personally think that the most efficient and cost-effective route for price to take is to go bullish and THEN drop. But again, I can't make that decision because as we know - the market can and will do what it wants, all we can do is project our analysis and try to put ourselves in the best position possible for the outcome. And most importantly, don't worry if you are wrong or you are not comfortable enough to take a trade. If you are not 110% confident in your analysis and trade - DO NOT take it. Don't worry about FOMO, don't worry about 'What if price goes without me ' or 'What if it hits my TP without me?' Who cares!? Once you can shake these thoughts and feelings, you will truly see a drastic improvement in your trading consistency. The MOST important thing is your confidence and protecting your capital. :)
by Pmilanoxx_
Price Rebound From Support Range!The price indicates a rebound within the support range where the price test attempted to break the MA13 line without having a large volume, hence, unable to close above the MA line. RSI and MACD indicate a divergence signal due to fresh buying interest in the stock. The candlestick pattern indicates the stock has the potential to continue the price uptrend in the upcoming trade sessions. Let's save CITAGLB in WL and watch out for significant price movement backed by high volume. R 0.355 S 0.295
MYX:CITAGLBLong
by eskopitehmilo
AUDUSD possible long moveAN offers a really good long setup. The confluences are: 1.ascending channel 2.break and retest of S/R zone 3.daily AND weekly 50EMA laying on this level 4.61.8% fibs So we just need to see rejection candles at POI for entries. The only thing I don't like is the bearish momentum. The last daily candle is Marubozu candle, a very dominant candle sooo I'll be looking for STRONG 4H rejection candles or daily candle before jumping in longs! It could easily penetrate the zone, so be careful with entries.
Long
by JivkoXristov
2
BTCUSDT Potential Harami bearish on 1MA Harami bearish, candlestick reversal pattern, is about to occur on 1M chart twice after the All-Time-High event. If this projected drawdown plays out. This indicate a strong bearish signal. Harami is highly reliable in bearmarkets, in which pattern is a signal of top price. A Harami bearish just played on 1W chart. This replication on monthly chart will signal potential lower low, i.e. the bottom 15k of moonbois is nothing but a dream. Greater timeframe, greater reliability. The micro price action is performing like a final phase (E) of distribution pattern of Wyckoff method. Now, on hourly chart, we can see a Head and Shoulders top formation targeting local demand. Also, an Alternate Bat harmonic pattern can occur, projecting price more drawdown, as we can see on chart. Abandoned Baby bearish candlestick pattern is also performing on H4. Oscillator Fisher Transform bearish. Elliot Wave Method ] Bitcoin seems to be ready to ride a route-off of this choppy bear market, as in a turn-point to made the 5th wave of an expanding ending diagonal, in which a bearish impulsive wave can occurs to throw-over this broadening wedge structure. This indicate potential lower low. According to my wave count, Bitcoin is about to accomplish this actuall supercycle, making a wave 4 of an expanding ending diagonal, in which one more supercycle may complete this potential pattern, which a new ATH can surpass 200k. The 5th wave of the ending diagonal, which will be the next bullrun supercycle to complete the wave I of the Grand Supercycle, don't needs to touch the upper trend-line. For the validation of this pattern, the bottom of this actuall bearmarket needs to be accomplished, completing wave 4. Then, the shape of the channel will be definetly drew. If this market respect Elliot Wave rules, a severe bearmarket will occurs to made the Wave II of Grand Supercycle. From a chart pattern perspective, this peak can be consider a pullback to Head and Shoulders neckline in confluence with the back-test to anchored VWAP from ATH. Indicating turn-point. Fibonacci Historically, In all corrections, BTC retraced either 88.6% of the same measured Fibonacci retracement, decreasing more than 80% in it's price from each new all-time-high. As we can see applied on this chart, a drawdown either 50% can be expected. Pivot levels Stablished pivot levels from the sum of HH+HL+Close:3 from the choppy sectors selected. in a fractal manner, the pivot level is a potential area of interest to re-entry. The price can shakeout in this range due to the anchored VWAP from candle of 13-Jun'22 reaction, thus I've pinpoint these levels to be watched. Harrmonic pattern prediction In prediction, a Partizan 2.4 harmonic pattern can be formed on this speculative bottom region, lead price above to 40k supply region.
Short
by firmestudio
SPX: Strong Bullish Reaction.• The SPX did a bullish reaction, just above our key support level at 4,100, which we’ve been monitoring for a few days; • This indicates bullish continuation, and despite the correction this morning, the index still looks bullish; • In the lack of bearish reversal structures, the gap at 4,218 is our next target. So far, there’s no bearish sign on the index; • Yesterday, it did a Bullish Engulfing pattern, and it is quite normal to see short-term corrections after the bullish candlestick – but it must not drop too much, otherwise, it might frustrate the pattern; • I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
1
Someone asked me my view on GoldI was waiting for time to visit my hairdresser while seeing a message left by my follower on my thoughts of Gold. I must highlight this is not any investment or trading advice, but my opinion on the next best price to look at for a buying opportunity, should I choose to long XAUUSD. I'm waiting to long XAUUSD at $1840.29 when the market stabilises and respects the Point D of this Bullish Shark Trading Pattern. One of the way is to wait for the 3-bar reversal as a confirmation signal.
FX_IDC:XAUUSDLong
by RaynLim