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Candlestickpattern

Da Bears and Gold-1hr candlestick This area showed potential to become a double bottom. The white line is the yesterday's daily close. You can see how two Hammers were created. This formation ended up being just part of a bounce of a larger bearish move. The candle immediately following the second hammer is a large Bearish Engulfing which closed right at the level of support. The next candle has no upper wick and was able to push down. The Daily support now turned resistance. If this Bearish momentum continues, we could see Gold continue to drop several hundred dollars.
FX:XAUUSD
by Shanktown
A Strong Uptrend Pattern!A significant price movement from the previous trading due to intrigue buyers backed by a high volume. Hence, the candlestick body closed above the MA50 line. This indicates a strong buying interest in CYPARK from the previous candlestick pattern toward the uptrend pattern. MACD and OBV indicate a divergence pattern, hence, supporting the pricing uptrend towards the next price resistance. The RSI indicators are not yet exceeded indexer 70, therefore, low probability of changes in trend reversal due to overbought or overvalued. The Price of Control (PoC) is 0.42 and above the VWAP line which is possibly a long position trading strategy. Let's save CYPARK in WL and watch out price movement towards the MA90 line as the next resistance price. R 0.460 S 0.385
CLong
by eskopitehmilo
Emerged of Buying Interest!Due to published news for the RM13m deal, there is significant buying in hence the price closed the MA50 line backed by significant volume compared to the previous trade. MACD and OBV indicators confirm the price uptrend towards the next resistance price which is the MA200 line. Precaution for a price correction between 10% - 20% from the recent peak where it may be primed for a trend reversal or corrective price pullback. Let's save VELESTO in WL and watch out for a price uptrend towards the next resistance price which is the MA200 line. R 0.115 S 0.085
MYX:VELESTO
by eskopitehmilo
GBPJPY LONGGood evening guys, I've just hoped on the charts and GJ is looking very clean, if there's a perfect example of a break and retest, this is one lol! 166.0 is a huge area of resistance and we've absolutely smashed through it and this is after printing a double top so this really shows that buyers are in control of the market. For this trade, I'm now waiting for price to come back down to 166. where I'm going to looking to take a buy, but first, I'm going to wait for a nice rejection which can be a depletion of selling pressure combined with buying pressure. We want wick rejections and bullish candles being printed then we will take a buy own this pair. First and last TP will be the next level of resistance (168.) I'm tired so hence the lack of information regarding support / resistance, candlestick patterns, Fibonacci's etc. This trade is mainly supply and demand crossed with a standard break and retest - we don't need to overcomplicate things!!
Long
by TomBray1
USDCAD- 240 MINS CHARTThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: its my view only and its for educational purpose only. only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. we anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle. buy low and sell high concept. buy at cheaper price and sell at expensive price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support.... Tradelikemee Academy
Long
by Tradelikemee
EURUSD-Weekly Market Analysis-Sep22,Wk3Before we start, you have to be aware that both the Daily and 4-hourly chart is in the Bearish Trend but the 1hourly chart is in a Bullish Trend. On a mid-long term perspective, I'm waiting for a shorting opportunity, however, on the 1hourly chart you can wait for a buying opportunity. So how does this work? If a Bullish Trading Opportuntiy presents itself on the 1hourly chart, I'll take it. I can even stretch my 2nd target if the setup shows such opportunity.
Short
by RaynLim
5
GBP/JPY Short Hi Guys, I'm looking to take this short on GJ. We have currently witness price print a perfect double top at a strong level of supply / resistance Price has now broken through support which we are anticipating to act as resistance We are now waiting for our entry which could either be a depletion of buying pressure and a new presence of selling pressure (wick rejections / bearish candlestick pattern) This is near enough a perfect set-up but nothing is guaranteed. This is where patience is vital. Let me know what you guys think?
Short
by TomBray1
GOLD-4 hr candlestick analysis !!4 hr Analysis We can see a Double Bottom was created. Double Bottoms can be strong signals of a reversal. Double Bottoms indicate several things: 1. Strong Support 2. Bears failed here twice 3. Bulls won out Looking at the yellow circle to start. This candle is a bit of a spinning top at the level of support. We can be sure that price will go up based on the next candle, a Bullish Engulfing. And price does continue up. The red highlight is the high. Drawing the Fibb from the yellow cirlce low to the red highlight high gives us a turnaround point at the 61.8% level. Price came to here, formed a Bullish Harami, and went up. Additionally, Since there are three Bullish Candles in a row, Gold created a Three White Soldiers formation. This is also an indication that the Bulls are beginning to win out.
FX:XAUUSD
by Shanktown
A Reversal Trend!The candlestick indicates a trend change in the price of the stock due to buying interest backed by significant volume compared with the previous trading. The 0.475 is the price Point of Control with fresh buying interest that has emerged and is set to lift the stock higher. MACD and OBV also indicate a divergence signal. Hence, align with the candlestick trend change of the price to the next price resistance. The MA50 line will be the next price resistance and is worth watching out for. Let's save PEKAT in WL and watch out for the price closed above the MA50 line backed by significant volume. R 0.490 S 0.450
PLong
by eskopitehmilo
Gold pushes up again! Take a look at how Gold pushed up! What did Gold do during Asian and London session? The yellow line is the daily close yesterday. You can see how price touched it three times. Just after the second touch, we have an Evening Star made. The following candle is bearish engulfing. Price has moved down. The third touch on the line is a bit of a fake out. The bulls tried but failed and were pulled crashing back down. At the bottom here, We have an inverted hammer followed by a bullish engulfing. This is looking very bullish now. The Bulls officially took over once they were able to close above the daily (yellow line). Price wicked up, and closed back below. The following candle was a bit of indecision as it is a spinning top wick about equal sized wicks. However, this spinning top comes after the close above and slight pullback. Still looks bullish which is confirmed by the following three candles creating Three White Soldiers.
FX:XAUUSD
by Shanktown
GBP/JPY LONG SET-UPGBP/JPY Buy Set up Technical breakdown on GBPJPY GJ is in a very bullish condition, however, I understand that the pair is also trading at a strong level of resistance Saying that, GJ has the potential to break past resistance, and this could be the trade we need to make it happen GJ has broken 15m resistance but hasn't come back to retest, this key area also lines up with a strong psychological level (165.000) as well as the 61.8 FIB level I will be looking to take this buy as long as we see and a bearish candlestick formation, this can be wick rejections or a depletion of selling pressure BUT This area of resistance has a chance of holding so if price does break through 165 and retests this zone showing bearish pressure, I'll be looking to sell this pair down to 163.500 or 162.500
Long
by TomBray1
EUR/USD Technical BreakdownEURO / DOLLAR; Technical Breakdown (Long) So, as you can see we've had a depletion at 0.98800 where price failed to break the lows and printed a clear inverted head & shoulders After the third bounce of the trendline, I was expecting price to break through, indicating price is reversing We have clear / well respected support / resistance zones marked out, indicating where price is likely to go after breaking bearish market structure Now, for me personally, I'd like to see price come back to the golden zone between the 61.8 & 78.6 fib levels to give the best / highest probability set up whilst maximising our reward to risk You may have noticed these fib levels also line up with the trendline, a strong area of support (0.99250) as well as the neck line of the inverted head & shoulders However, This set-up isn't guaranteed, but, if price does come back to this zone, I will be looking to take buys as soon as we have 3 rejection candles on the 5m or 15m timeframe We may even have a rejection of the 0.99750 level which price has previously respected as support, but again, in my eyes, the best set up which we as traders should all wait for is the highest probability set ups which to me is the deeper pullback to that 0.99250 level. Hope you enjoyed that technical breakdown on EU. Let me know what you guys think about this pair.
Long
by TomBray1
How did Gold move up 157 pips up?​​How did Gold move 157 pips UP in 6 hours? The yellow box is an exhaustion area. It can be seen previously on September 1'st. The shape that is made here I've seen move up a lot. The yellow line at the bottom is what I'm looking for to enter. I want to see a push above that in order to enter a buy. At the bottom, we can see a long lower wick showing the bulls pushed price back up. Next is a bullish engulfing. The next candle is the candle to enter on because it breaks above the yellow line (an S&R as shown as the close of previous candles). Finally, we see a trend line that was respected, broken above, touched twice, then price move away from it.
FX:XAUUSD
by Shanktown