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Engulfing Candle

Dollar failed to clear previous high, targeting previous supportAbsent a clear escalation in Russian-Ukrainian tensions and a FOMC meeting scheduled for this Wednesday, the outlook remains cautious. The dollar index is stable. At 99.30 points, we can see the bearish price action forming around the previous high, and the 30 minutes timeframe shows that DXY has broken below the previous low support and formed a new lower low, which makes me believe that DXY is going to move lower during the day to reach its previous low support of 98 points.
TVC:DXYShort
by MohannadYakout
GBPJPY Downtrend H4I noticed something during the Valentines day at 14 Feb. Price already show Double Top Pattern & Engulf Sell . So I sell at 157.25 and add a layer entry sell at 156.95 . TP 1 at 155.40, TP 2 at 153.55. Follow the trend, I sell at 155.00 and reentry at 155.00 after the corrections. TP 1 at 153.40,TP 2 at 151.50. Now i entry Sell at 152.900 . TP 1 at 151.500 , TP 2 at 150.500. I also try to Swing sell position at Monthly Timeframe, I will share it later after this idea published. Have a great day!
Short
by khairulamrr
1
The $SPY is Potentially Setting up for Another Short-term BounceToday on the 4HR Timeframe we went down Below the Demand Line of a Falling Wedge Channel but ultimately closed back within the Channel then Bullishly Engulfed at the PCZ of a Bullish Gartley on the close of the next candle. We also showed slight hints of Bullish Divergence on the MACD whilst this was going on. This looks to be pretty good for any Market Bulls out there in the short to midterm but i we aren't completely out of the woods yet as the Macro is still Bearish. I will be looking for a Midterm bounce in the SPY but wont be targeting much higher than $450 before looking to see more continuation to the downside.
AMEX:SPYLong
by RizeSenpai
4
GBPUSD LONG ON WEEKLY 2/22/22If price holds orange support zone we have a chance at testing yellow resistance zone. If Yellow support zone holds we may be able to touch the bottom of light green resistance zone. Forming an inverse head and shoulders and a bull flag to confirm bullish bias. Needs a bullish engulfing candle breaking out through the top of the pink channel or near the bottom of the pink channel for a higher risk to reward ratio. Take profit at top of yellow(0.5 on fib) for low risk , and at the resistance of the light green(.618) for high risk MacD on the weekly has a bullish cross over
Long
by visionstream
2
ATOM SCALPING Atom seems to hit a strong support, while it has broken the Bearish trend line, I think the candlestick pattern( something like an imperfect bearish engulfing) form at the level of a dynamic resistance would lead the price to the support 25.67 to 25.38 USDT for the last time and after formation of a key level we could see growth to 27.49 to 27.67 resistance. also Follow line Indicator along with Hull moving average Band show some signs and signals of change in Trend, so after formation of fist candlestick pattern reversal patterns getting LONG position would be a good choice
Long
by EskandarinejadV
1
GOOG: Time to buy the DIP? Complete analysis (H,D and W charts).Hello traders and investors! Let’s see how GOOG is doing today! First, we see a good reaction today, in the 1h chart, as the support area between the two black lines at $ 2,667 - $ 2,651 is holding the price nicely. Right now is a good time for a bullish reaction, and GOOG could fill the last gap at $ 2,747.65. However, in order to reverse, we must see a stronger bullish structure, because the trend is still bearish. We see nothing but lower highs/lows, and the 21 ema is descending as well. This could be a sign of exhaustion, but it is too soon to tell. Let’s look for more clue in the daily chart: What I find curious is that GOOG is dropping with low volume. Its volume has been below the average since Feb 8, indicating that it is not dropping because of sell pressure. Instead, it just looks weak, and the price will get more and more discounted, until GOOG becomes attractive again to investors. The weekly chart offers more ideas: In the weekly chart, GOOG did a Bearish Engulfing last week, just under its 21 ema – not a good sign. It seems it could drop more, maybe to the previous support level at $ 2,492.84, but this is where things get dangerous. If GOOG loses this support, it might trigger this Head & Shoulders chart pattern, and this will officially trigger a bear market on GOOG. Of course, this scenario wasn’t triggered yet, but it is important to pay attention to the signs it is giving to us right now. I’ll keep you guys updated on this, so, remember to follow me to not miss any of my future analyses.
NASDAQ:GOOG
by Nathan_The_Finance_Hydra
1
Engulfing Candlestick PatternEngulfing candlestick is formed when it completely engulfs the previous more than one candle but be considered an engulfing candlestick pattern because in Engulfing at least one candle must fully engulf. Types of Engulfing Candlestick Pattern Bullish Engulfing Pattern Bearish Engulfing Pattern #1 Bullish Engulfing Pattern Bullish Engulfing pattern consists of two candle formations, the first candle is the small body and the second candle is the bigger. The second big candle should be fully engulfed than the previous small candle. This is called the bullish engulfing pattern. #2 Bearish Engulfing Pattern Bearish Engulfing pattern consists of two candle formations, the first candle is a small Bullish candle and the second is the bigger bearish Candle than the previous bullish candle. The Second big bearish candle should fully engulf the previous one or more small candles. This is called a bearish engulfing pattern.
NSE:BANKNIFTYEducation
by the_dileepkumar
Bitcoin Bullish Engulfing + RecoveryAfter a clear bullish engulfing forming in the January weekend of 22nd, 23rd with continuation there after, there are several factors to be considered: 1. Possible solid bottom has been formed at ~35,000 2. Bitcoin has broken the major resistance at ~41,500 with a lot more ease than expected, dictating a more easy uptrend towards ~44,000 After breaking the ~41,500 resistance, Bitcoin now has to form a new support which is not yet forming nor beginning. This is to be expected in the upcoming weeks. The highlight, Bitcoin has just broken the down trend which started back in November 2021. If it continues on this path, we could see an easy continuation to ~50,000 as bullish sentiment is rebuilding. The key conclusion to be taken is that Bitcoin has not yet formed a new support line as its base for this uptrend.
by UnknownUnicorn35305092
2