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Engulfing_rejection_bar

Daily Chart Bullish Engulfing BarPrice on the daily chart of this pair has formed a bullish engulfing bar. Whilst this is a large and clear engulfing bar candlestick, it comes after price has made a large sell off lower. It also has formed below a daily resistance level. That means for price to make a move back higher it will have to break through the very close overhead resistance. Whilst it very well may do that, anyone looking to trade this setup should keep that level in mind.
Long
by TaherJalili
EURUSD: Likely To Correct This pair has had a decent bullish momentum as of lately; active long interest might come across as greed driven. Seemingly, the EUR bulls are looking to square off exposure, translating into an oversupplied market at least for a short-term correctional formation. The most prevalent scenarios are highlighted in the chart: bullish continuation in green and bearish reversal in red. A better understanding of the market dynamics will present itself as the EURUSD price action develops throughout the upcoming weeks. Staying tuned.
by Zoen_Trieste
3
GBPUSD short, retest of keylevel resistance. 1.618 fib extenstioGBPUSD has formed a double top for the last few weeks, which is a bearish sign. A weakness of the Bullish trend. It broke the 1.2200 Support Area and bounced off around the 1.2100 area. Currently, the cable/GU will retest the 1.2200 as a resistance, and might break it as well as the bearish trendline. If it breaks both the trendline and the resistance, Idea is scrapped. And out of the trade. For now I'm gonna look for short in GU and wait for more candle confirmation and rejection at the resistance, such as a bearish engulfing candle. And a probable Take profit area is around 1.1900 which also is the 1.618 fibonacci extension.
Short
by Jimbololoy
Looking to short Boeing $BA for a potential $40 (10%) move.After a parabolic move up, then a breather, and another 10 straight weeks of aggressive gains...I am looking to short Boeing on a pull back from the $420's down to the $380 range. Currently trading at $422. Special tips: - I cite "Irrational Exuberance" as the reason for this short, however... - Remember that "the market can remain irrational longer than you can remain solvent". - In other words, don't bet the family trust on it. A move over $440 can tear the face off of shorts one more time as it did in its last break higher.
NYSE:BAShort
by currencyprinter
SPX Imminent retest of channel support: Rejection from ATHCompare to 6/14 Harami cross. Identical price behavior 8/21-23 c/w 6/12-14 and 8/7-9. Slapped down hard from high channel retest after 8/21 high. All the Doji have been seen- pin bar, shooting stars, Harami crosses, engulfing bears, Red Shooting star today. Perfect setup for lower and soon- imminent. Today I observed a bear flag all afternoon following the sharp intraday correction on 15m charts. Daily chart on 8/23 looks eerily similar to annual chart, past six months! Expect a harder test than last time. Probably at least to 2791 as shown in graph, maybe lower; WS2 at ~2777. Gonna be a choppy week. We have convergence of twin C waves bearing down from 08 Feb and 27 Jun A wave downspikes, rolling together now will bear down hard. Batten down the hatches- good luck! This isn't investement advice and I ain't no advisor. This post for amusement and education only. Enjoy!
SP:SPXShort
by DaddySawbucks
3
Gold is about to fall?Hi guys, i don't trade gold yet but i want to apply some of my structure analysis here for i think this could be interesting. As you can see price is now testing a resistance zone, that also lines up with the 618 retracement of the bigger daily leg. On the bottom of the screen you can also see some divergence on the RSI. At the moment price is also showing some rejection in a form of an engulfing candle. Risk to reward is very nice. If you are conservative you can wait for additional confirmation, like a break of the trendline. If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
FX:XAUUSDShort
by Roker1
6
Is AUDUSD coming down?Hi guys, as you can see on the chart above, on this pair we're retesting a key structure level. In doing so, price has created a nice engulfing candle bigger than all the previous ones. This, together with the RSI Divergence (that you can see on the bottom) makes me think this could be the reversal beginning. Stops owuld go above the highs, target1 at the retest of the lows, target2 around 0,76. If you want to share your viewpoint, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Short on AUDUSDHi guys, as you can see on the chart above, on this pair we're retesting a key structure level. In doing so, price has created a nice engulfing candle bigger than all the previous ones. This, together with the RSI Divergence (that you can see on the bottom) makes me think this could be the reversal beginning. Stops owuld go above the highs, target1 at the retest of the lows, target2 around 0,76. If you want to share your viewpoint, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Double Top on USDCADHi guys, today i want to share with you a simple setup we have on USDCAD. The overall trend is bearish, and price is now testing the 382 retracement of the bigger impulsive leg. After the first failed attempt it has came up at the same level creating a nice double top. If the current candle will close red, then i will be shorting this pair, with first target at the retest of the neckline, and the second target at the bottom (around 1,33). Let's wait and see. If you want to share your viewpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
EURUSD buy setupHi guys, nice opportunity here on EURUSD. Price is pressing against a daily & 4hr structure level that seems to hold. We can say that simply by looking at the chart itself, price action creates a first low (at a psychological level) and then when it comes to retest it, it fails to create a new low and insted sets an equal low. This is the first sign that price isn't strong enough to break that level and we can assume that maybe its the starting point of a change in the direction of this market. When i see situations like this i start gathering different clues of my viewpoint in order to increase the likelihood of the trade. That's why i wrote them down on the chart above. Besides structure (and psychological number), price is at the 618 retracement of the bigger daily leg, and the RSI is in divergence with the price's movement. Also, price's put a nice engulfing candle at this level, giving us a reason to enter the market definetely. Stops below the lows, target1 near 1,0580, target2 to be determined (somewhere near 1,0650-80s. Good trading! If you want to share your standpoint or ask questions, feel free to write below. Otherwise, see you in the next chart!
Long
by Roker1
AB=CD completed right at Daily StructureHey guys, very simple trade, price has completed an AB=CD pattern on this pair, right at the most previous structure level. Also, it has created a nice long wick to the top candle that closed as engulfing, with RSI overbought condition in our support. Waiting for a little pullback in order to short the market and get at least a 1:1 RR on the first target that would be placed on the first AB=CD target (at the 382 retracement). Stops above the highest highs. Good trading! If you want to share your standpoint or ask questions, feel free to write below. Otherwise, see you in the next chart!
Short
by Roker1
RSI Divergence with Engulfing Kicker at daily structureHey guys, another analysis today that i want to share with you. Here we are on GBPJPY and you can see that we are up against a previous daily structure level on the left hand side of your screen. In cases like this i start looking for some shorting opportunities in lower timeframes, such as 4hr chart. On the right hand side of the screen you can see price is right at the 618 fib retracement of the bigger downward legative move. In addition to that there's RSI divergence and at the end price has created an engulfing kicker that i usually consider as a reason for entry when other criteria are met. So i think this may be a good shorting opportunity in order to take some profit off of the market. The current candle is pulling a little back so we can enter the market with a better risk to reward. Stops above the highest high, target at the retest of the most recent low, and then we can leave a position for futher movement. Hope you can find it useful. If you have any question feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Engulfing kicker at daily resistanceHey guys, today i want to share a traditional structure based trade that's on my watchlist today. On the left hand side of the chart you can see on NZDUSD we are fronting a key resistance level that may stop price action's rally. If you follow me for a while you know i'm a conservative trader and that i need additional reasons for entry in order to set my orders. On the 4 hr chart (on the right hand side) you can see a closer look to the last price action's movements. Price's forming a triple top right now with RSI divergence. From my bigger view i know i want to be bearish and then i'm considering only shorting opportunities. Price is also putting an engulfing kicker which i sometimes use as reason for entry. And that's the case! If the current candle will close below the previous opening i'm going to sell this. With targets and stops as indicated above. Let me know if you have any doubt. Otherwise, see you in the next chart!
Short
by Roker1
Double top on EURGBPHey guys, on EURGBP we are testing a daily structure level that could turn out to be the right shoulder of a bigger head&shoulder (on the daily). So we know we want to look for shorting opportunities. In the 4HR chart we can see price's created a double top with a nice RSI divergence. The confirmation sell signal comes from the engulfing candle just formed. In order to have a 1:1 RR at the retest of the lows i'm waiting for a small pullback into 0,8730 level. Let's see if price triggers it. If you have any question or remark, please comment below. Otherwise, see you in the next chart!
Short
by Roker1
2