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Candlestickspatterns

Top 3 Must-Know Candlestick Patterns for BeginnersGet your cup of coffee or tea ready we are doing a crash course on Candlesticks today I’m walking you through three candlestick patterns every beginner trader should know—Doji, Engulfing Candles, and Hammers (including the Inverted Hammer). These patterns are super helpful when you’re trying to spot market reversals or continuations. I’ll show you how to easily recognize them and use them in your own trades. Let’s keep it simple and effective. Key Takeaways: Doji: Indicates indecision, potential reversals. Engulfing Candles: Bullish or bearish reversal signals. Hammer & Inverted Hammer: Bullish reversal after a downtrend. Trade what you see and let’s get started! Mindbloome Trader
Education
by Mindbloome-Trading
4
A Practical Guide For Candlestick Patterns!Intraday trading is a method of investing in cryptocurrencies where the trader buys and sells cryptocurrencies on the same day without any open positions left by the end of the day. Intraday traders aim to either purchase a cryptocurrency at a low price and sell it at a higher price or short-sell a cryptocurrency at a high price and buy it at a lower price within the same day. This requires a good understanding of the market and relevant information to help them make the right decisions. In the cryptocurrency market, the price of a cryptocurrency is determined by its demand and supply, among other factors. Tools such as candlestick chart patterns are very helpful to traders. We will discuss these candlestick charts and offer steps to help you read them.
Education
by CRYPTOMOJO_TA
10
Silver MatrixSilver has been in a downward pointing "shape" with a resistance on the top as a force pointing down, while being supported in a "cup" shaped support that can become resistance on the up if it is broken down. The levels in this project are potential support/resistance zones in the future, where potential pivot points can occur (marked examples in the past). Similar candlestick patterns can also appear near the Big Thick rectangles which are Power Influence Zones, while the slim longer rectangles can direct potential pivot points or temporary consolidation support resistance levels. The smaller rectangles could turn out to be simple milestones in the path of the price. The most important aspect of this project and approach is following the price action near the shapes which can trigger a pivot point signal or a continuation after a break and test.
OANDA:XAGUSD
by nen
6
What is Tweezer Top and Bottom Patterns?Welcome to the world of trading patterns. If you appreciate our charts, give us a quick 💜💜 Today let's explore Tweezer top and bottom patterns, often referred to as simply "tweezers," are powerful candlestick formations that hold the potential to unveil significant shifts in market sentiment. These patterns materialize as twin candles appearing at the culmination of a trend, indicating the impending transition of market dynamics. In this exploration, we'll delve into the intricacies of these patterns, unveiling their secrets for traders seeking to navigate the ever-evolving landscape of financial markets. Tweezer Top: A tweezer top pattern occurs during an uptrend when the price reaches a high point and then experiences a sudden reversal. It is characterized by two consecutive candlesticks with almost identical highs. The pattern suggests that the bulls are losing their grip, and a potential trend reversal or a bearish correction might follow. Traders often interpret the tweezer top as a signal to consider selling or shorting an asset, especially if it appears after a prolonged uptrend. However, it's essential to confirm this pattern with other technical indicators or chart patterns to increase its reliability. Tweezer Bottom: Conversely, a tweezer bottom pattern emerges in a downtrend when the price reaches a low point and then reverses its direction. Similar to the tweezer top, tweezer bottoms consist of two consecutive candlesticks with nearly identical lows. This pattern signifies a potential end to the bearish trend, indicating that the bulls might take control soon. Traders view the tweezer bottom as a signal to consider buying or going long on an asset, particularly if it appears after an extended downtrend. As with any trading pattern, it's crucial to validate the tweezer bottom with other technical tools to confirm the potential trend reversal. Key Considerations: Confirmation is Key: Tweezer patterns, while useful, should always be confirmed by other technical indicators or chart patterns before making trading decisions. Volume Analysis: Analyzing trading volumes during the formation of tweezer patterns can provide additional confirmation of the potential trend reversal. Market Context: Consider the overall market context and fundamental factors influencing the asset to make well-informed trading decisions.
Education
by Vestinda
2
Chart Patterns: Mastering Price Patterns for Successful TradesChart patterns are powerful tools that allow traders to anticipate market movements and make informed trading decisions. This trading idea focuses on mastering various price patterns to enhance trading proficiency. By gaining expertise in recognizing and interpreting chart patterns, traders can identify high-probability trade setups, optimize entry and exit points, and increase their chances of success in the market. Objective: The objective of this trading idea is to equip traders with a comprehensive understanding of different price patterns and their significance in technical analysis. By mastering these patterns, traders can effectively analyze market trends, identify potential reversals or continuations, and make well-timed trading decisions. Key Components: Introduction to Price Patterns: Begin by understanding the fundamentals of price patterns and their importance in technical analysis. Learn about the types of patterns, including reversal patterns (such as head and shoulders, double tops/bottoms) and continuation patterns (such as flags, triangles, and rectangles). Gain insights into the characteristics and significance of each pattern in predicting future price movements. Reversal Patterns: Dive into studying popular reversal patterns that indicate potential trend reversals. Explore patterns such as head and shoulders, double tops/bottoms, and triple tops/bottoms. Understand how to identify these patterns, confirm their validity through volume analysis, and generate entry or exit signals. Analyze real-life examples to strengthen your pattern recognition skills. Continuation Patterns: Explore continuation patterns that suggest the resumption of existing trends. Study patterns like flags, triangles (ascending, descending, symmetrical), rectangles, and wedges. Learn how to interpret these patterns to validate trend direction, anticipate breakout or breakdown levels, and improve trade entries. Understand the importance of volume and other technical indicators in confirming continuation patterns. Complex Patterns: Delve into more advanced and complex patterns, such as the cup and handle, head and shoulders inverse, and ascending/descending triangles with multiple touches. Gain insights into the nuances of these patterns, their variations, and their potential impact on price movements. Understand how to incorporate these patterns into your trading strategies for enhanced accuracy. Pattern Confirmation: Learn techniques to confirm the validity of price patterns and reduce false signals. Explore additional tools and indicators such as trendlines, moving averages, Fibonacci retracements, and oscillators to validate and reinforce pattern signals. Understand the importance of multiple confirmations for higher-probability trades. Trade Management and Risk Control: Develop effective trade management techniques to maximize profits and minimize risks when trading price patterns. Learn how to set appropriate stop-loss levels based on pattern structures and support/resistance levels. Understand position sizing and risk-reward ratios to optimize risk management. Explore techniques for trailing stops and scaling out of positions to maximize gains. Backtesting and Paper Trading: Apply your knowledge by backtesting price patterns using historical market data. Utilize paper trading or demo accounts to practice trading based on your analysis without risking real capital. Evaluate the performance of your pattern-based strategies, identify strengths and weaknesses, and refine your trading approach. By mastering price patterns and effectively utilizing them in your trading approach, you can significantly improve your trading outcomes. This trading idea aims to provide you with the knowledge and skills necessary to navigate the markets with greater precision, identify high-probability trade setups, and achieve consistent trading success. Note: Trading carries a level of risk, and past performance is not indicative of future results. It is important to conduct thorough research, practice proper risk management, and consider personal circumstances before making any trading decisions.
NASDAQ:NVDAEducation
by LuminoAlgo
📊10 Candlestick Patterns You need To Know🔷 Bullish engulfing: A candlestick pattern where a smaller bearish candle is followed by a larger bullish candle, indicating a potential reversal of a downtrend. 🔷 Bearish engulfing: The opposite of a bullish engulfing pattern, where a smaller bullish candle is followed by a larger bearish candle, suggesting a potential reversal of an uptrend. 🔷Tweezer tops: Two consecutive candlesticks with equal or near-equal high prices, indicating possible resistance and a potential reversal from an uptrend. 🔷Tweezer bottoms: Similar to tweezer tops, but indicates support and a potential reversal from a downtrend. 🔷Bullish harami: A bullish harami is a candlestick chart indicator used for spotting reversals in a bear trend. It is generally indicated by a small increase in price (signified by a white candle) that can be contained within the given equity's downward price movement (signified by black candles) from the past couple of days. 🔷Morning star: A three-candle pattern consisting of a bearish candle, a small indecisive candle, and a bullish candle, indicating a potential reversal from a downtrend. 🔷Evening star: The opposite of a morning star pattern, consisting of a bullish candle, a small indecisive candle, and a bearish candle, suggesting a potential reversal from an uptrend. 🔷Three white soldiers: Three consecutive long bullish candles, typically seen as a strong bullish reversal pattern. 🔷Three black crows: Three consecutive long bearish candles, often considered a bearish reversal pattern. 🔷Three inside up : A bullish reversal pattern composed of a large down candle, a smaller up candle contained within the prior candle, and then another up candle that closes above the close of the second candle. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
4
ZM: Pre-Earnings Release RunZoom is showing a pre-earnings release run up out of its extreme low, ahead of its Q1 report today. The current run's pattern is indicative of professional traders swing trading with earnings strategies; they tend to take profits on the report since they bought at the low. While revenues are likely to come in below last quarter, earnings should improve over the big loss last quarter. The stock has probably found its final low, at long-term support from 2020. ZM outperformed during the pandemic due to huge demand that was unsustainable and time limited. So it has a lot of work to do from here; it must reinvent to offer a greatly improved service to compete with huge companies like Google, etc. which all have very similar services.
NASDAQ:ZM
by MarthaStokesCMT-TechniTrader
🔋Candlestick Power📍Candlestick patterns are powerful tools used in technical analysis to analyze and predict price movements in financial markets, particularly in trading. They provide valuable insights into market sentiment and help traders make informed decisions. The open, close, and various components of a candlestick, such as the body and shadows, are crucial in determining whether it is bullish or bearish. 🔷A candlestick consists of a body and two shadows, also known as wicks or tails. The body represents the price range between the open and close of a trading period, while the shadows represent the high and low points reached during that period. 🔷A bullish candlestick occurs when the closing price is higher than the opening price, indicating buying pressure and market optimism. The body is typically filled or colored, indicating a bullish trend. The longer the body, the stronger the bullish sentiment. Shadows may exist above or below the body, and they represent the price range outside of the open and close. Long shadows indicate higher volatility during the trading period. 🔷A bearish candlestick forms when the closing price is lower than the opening price, reflecting selling pressure and market pessimism. The body is often empty or colored differently to indicate a bearish trend. Again, the length of the body provides information about the strength of the bearish sentiment. Shadows can be found above or below the body, representing the price range outside the open and close. Similar to bullish candles, long shadows suggest increased volatility. Traders use different candlestick patterns and combinations to identify potential trend reversals, continuation patterns, or price consolidations. For example, a doji candlestick, where the open and close are very close or equal, signals indecision in the market and may precede a reversal. Engulfing patterns occur when one candle fully engulfs the body of the preceding candle, indicating a potential trend reversal. However, it is important to note that candlestick patterns should be used in conjunction with other technical indicators and fundamental analysis to confirm the validity of a potential trade signal. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
3
EUR/USD: a detailed multi-timeframe examination of the pairHaving conducted a thorough MTF analysis of EUR/USD, the following observations could be made: Weekly: as it can be inferred from the Weekly-timeframe chart, the price has been shooting wick candles and failing to break above the major resistance highlighted on the graph. The ongoing Weekly candle is looking massively bearish, and if we get to have a such impulsive closure, then the price might be experiencing a further decline. The 50% Fibonacci retracement level aligning with the price mark of 1.08 might be the next potential region the bearish rally is leading us towards. Daily: zooming into the Daily-TF chart, we might observe that the price has penetrated through the ascending trendline with success. This add up to the list of confluences backing our bearish bias. 16H / 8H / 4H: finally, levelling down to lower-timeframe graphs, we can plot a probable entry region and have eyes on it for SELL executions. The area of 1.1 combines two confluences: the 50% Fibonacci retracement level derived from the recent impulse and the descending trendline pictured on the chart that connects two previous tops. On the fundamental front, we have to keep eyes on the economic news - US Core Inflation Rate and PPI MoM - due later today and tomorrow.
Short
by Investroy
23
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. ________________________ 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. ________________________ 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!❤️
FOREXCOM:XAUUSDEducation
by VasilyTrader
13
💥 Bullish VS Bearish Candlesticks📍Bullish and bearish candlestick patterns are technical analysis tools used by traders to identify potential market trends and reversals. Bullish patterns indicate a potential rise in the price of an asset, while bearish patterns indicate a potential decline in price. 🔷 Bullish candlestick patterns include the dragonfly doji, hammer, tweezer bottom, morning star engulfing and three white soldiers. These patterns suggest that buying pressure is increasing and that there may be a potential for a trend reversal. 🔷 Bearish candlestick patterns include the gravestone doji, inverted hammer, tweezer top three black crows and more. These patterns suggest that selling pressure is increasing and that there may be a potential for a trend reversal. 🔷When using candlestick patterns for trading, it's important to look for confluence with other signals, such as trend lines, support and resistance levels, and other technical indicators. Combining multiple signals can provide a stronger indication of potential market movements and help traders make more informed trading decisions. 🔷It's also important to note that candlestick patterns should not be relied on as the sole indicator for trading decisions, as they are not always accurate and can produce false signals. Traders should always use a combination of technical analysis tools and fundamental analysis when making trading decisions. This is why its important to create and monitor your own strategy and backtest what works and what doesn't. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
6
📊 The Doji Candle Pattern📍What is the Doji Candlestick Pattern? The Doji Candlestick Pattern refers to a chart pattern consisting of a single candle. This pattern appears when the opening and closing prices of a candle are nearly the same or identical, resulting in a small-bodied candle with upper and lower wicks resembling a "+". Different variations of Doji patterns exist, with unique names like the Long-legged Doji, Gravestone Doji, Dragonfly Doji, and Doji star candlestick pattern. Regardless of the type, all Doji patterns provide traders with four critical data points: the open, close, high, and low prices for the given period. Doji patterns can occur on any timeframe and in any market, making them the foundation of many trading strategies 🔹Long-legged Doji The Long-legged Doji pattern has an elongated upper and lower wick and a small body The Long-legged Doji can be interpreted in several ways and works best when viewed in context with price action. It is a potential price reversal signal in a defined up or downtrend. If it occurs in a flat market, it suggests further consolidation. 🔹Dragonfly Doji The Dragonfly Doji sets up when the candle’s open, close, and high is approximately the same. Visually, the Dragonfly looks like a “T,” as depicted in the image below. This formation suggests that heavy selling was present, but the market has rebounded. As a general rule, the Dragonfly is considered a reversal indicator. A retracement in price is expected when it occurs at the top of a bullish trend. 🔹Gravestone Doji The Gravestone Doji pattern is the polar opposite of the Dragonfly; it appears as an inverted “T” and signals that heavy buying has given way to selling. The Gravestone Doji is a reversal chart pattern that signals downward or upward pressure may be on the way. The Gravestone suggests that a reversal is possible when observed within a defined uptrend. Within a downtrend, bullish price action may be forthcoming. 🔸Reversals Doji candlesticks can be a great way to get in or out of the market in trending markets. The Gravestone and Dragonfly are ideal for reversal strategies as they indicate forthcoming upward and downward movements in price. 🔸Breakouts One of the lowest-risk ways to utilize Dojis in the FX market is to trade breakouts. A breakout is a sudden directional move in price. Dojis often precede breakouts, as they are a signal of indecisiveness. As soon as the market makes up its mind, a significant move may be in the offing. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
2
🔎 A Look Inside The Candlestick Chart📍What Is a Candlestick? The formation of the candle is essentially a plot of price over a period of time. For this reason, a one minute candle is a plot of the price fluctuation during a single minute of the trading day. The actual candle is just a visual record of that price action and all of the trading executions that occurred in one minute. [b📍Who Discovered the Idea of Candlestick Patterns? It is commonly believed that candlestick charts were invented by a Japanese rice futures trader from the 18th century. His name was Munehisa Honma. Honma traded on the Dojima Rice Exchange of Osaka, considered to be the first formal futures exchange in history. As the father of candlestick charting, Honma recognized the impact of human emotion on markets. Thus, he devised a system of charting that gave him an edge in understanding the ebb and flow of these emotions and their effect on rice future prices. 📉Bearish Candle 🔹 Open Price: A bearish candlestick forms when the opening price of a currency pair is higher than the closing price of the previous candlestick. 🔹 High and Low Price: During the candlestick's time frame, the price moves higher than the opening price and then declines to form a lower low than the previous candlestick. 🔹 Body: The body of the bearish candlestick is colored red and represents the difference between the opening and closing price. The longer the body of the candlestick, the stronger the bearish sentiment. 🔹 Upper Shadow: The upper shadow of the candlestick represents the highest price achieved during the candlestick's time frame. The longer the upper shadow, the greater the bearish pressure. 🔹 Lower Shadow: The lower shadow of the candlestick represents the lowest price achieved during the candlestick's time frame. The shorter the lower shadow, the stronger the bearish sentiment. 📈Bullish Candle 🔹 Open Price: A bullish candlestick forms when the opening price of a currency pair is lower than the closing price of the previous candlestick. 🔹 High and Low Price: During the candlestick's time frame, the price moves lower than the opening price and then rises to form a higher high than the previous candlestick. 🔹 Body: The body of the bullish candlestick is colored green and represents the difference between the opening and closing price. The longer the body of the candlestick, the stronger the bullish sentiment. 🔹 Upper Shadow: The upper shadow of the candlestick represents the highest price achieved during the candlestick's time frame. The shorter the upper shadow, the greater the bullish pressure. 🔹 Lower Shadow: The lower shadow of the candlestick represents the lowest price achieved during the candlestick's time frame. The longer the lower shadow, the greater the bullish sentiment. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
6
📊 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
EURJPY - Exciting SELL opportunity with big potential! 🔻As shown on the charts by multi-timeframe analysis, from weekly down to daily and hourly, we can establish a clear bearish bias for EURJPY. Noteworthy observations: - the liquidity pool on weekly timeframe is very obvious and price will eventually go for it, so I keep that in mind. - untested hammer head on daily timeframe is also very obvious and it usually acts as a magnet for price. Depending on how aggressive you want to be with this trade if it works out, entry could be a price action confirmation signal near the buy zone or a sell limit order. I will closely observe the price action near the first target and make a decision whether to close my trade there or adjust my stop loss to the second target. If I have a strong bias that price is ready to make a run on the liquidity pool, I may re-enter the trade after exiting.
Short
by TradingEdgeHQ
🥇Eyes on GOLD, waiting for a pullback to go long.🟢If we see a pullback with good developing price action in GOLD, that's when we make our move. We evaluate if the risk to reward ratio is good enough to justify entering a long trade and set our target accordingly. Entry could be a price action confirmation signal near the zone or a limit order, again depending on how price action develops. We don't just jump in blindly, we also think hard about where to place our stop loss. But if the pullback doesn't happen, I'm not one to chase the market. I stay disciplined and wait for the next high-probability opportunity. No FOMO, no trade. Pass and keep grinding.
PEPPERSTONE:XAUUSDLong
by TradingEdgeHQ
1
AAPL: Bullish REVERSAL ahead? KEY POINTS to watch this week! 🤓• AAPL is reacting above a key support level; • In the weekly chart, we see a Hammer candlestick pattern, which was triggered this week. This points to a possible bounce on AAPL; • The technical target for a Hammer is the projection of the candlestick’s height in the direction of the breakout, this means, something around $138; • In the daily chart, there’s no clear bullish reversal structure on AAPL yet, but we can use Fibonacci to set the next key resistance levels; • The 50% retracement is around $137, which is quite close to the Hammer’s target in the weekly chart. Therefore the area around $137 - $138 is a key dual-resistance area; • To not frustrate this thesis, it is important for AAPL to remain above the $128. If it loses it again, it might be problematic. I’ll keep you updated on this, as usual. Remember to follow me to keep in touch with my daily analyses!
NASDAQ:AAPL
by Nathan_The_Finance_Hydra
2
TSLA: Bullish reaction above our TARGET! What's next?• TSLA hit our target at $110, as we discussed in our previous analysis, last week (link below this post, as usual); • Today, it seems we have some reaction, which is expected. It is very rare to see TSLA dropping 7 days in a row (actual drops, not only bear candlesticks). To be honest, I don’t recall seeing 7 drops in a row on TSLA. If this ever occurred, must be a long time ago; • If TSLA confirms this reaction, any bounce on TSLA would have to face the next resistance at $126. In addition, any bounce would be just a Dead Cat Bounce, as there’s no clear bullish reversal structure on TSLA – it is still doing lower highs/lows. Meaning, a top sign under a resistance would be just an opportunity to sell; • In addition to the $126, we see the red trend line connecting the previous top levels, which is another resistance, along with the 21 ema; • What if TSLA loses this support at $110? The next technical support is the $91. • Let’s pay attention to this reaction and see where it can take us. I’ll keep you updated on this, as usual. Remember to follow me to keep in touch with my daily analyses!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
2