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Engulfing Candle

XAUUSD Good sell opportunity!Hey guys, Based on the chart price is in a good situation for opening sell positions on XAUUSD. But let's go deeper on our reasons and see what's on the chart: 1. Price is in a downtrend ( Bearish ) 2. A correction have happened --> price reached to 0.618 Fibonacci and dropped ( Bearish ) 3. Bearish Engulfing Candlestick ( Bearish ) 4. Currently price is in an uptrend channel ( Bullish ) 5. Hidden divergence on RSI(14) ( Bearish ) So based on our analysis the bearish movement is more possible than the bullish one. So it leads us to be seller which have more probability and makes good risk reward ratio. One good trading scenario for this case is waiting for the price to reach to the top of the channel and opening sell positions regarding to considering risk management rules. So it is our analysis about XAUUSD. But please let us know what do you think about it? Buy or Sell and why? Any idea would be welcome and valuable for us. Good luck!
FOREXCOM:XAUUSDShort
by Brian_Philips
2
JICPT| Strong holder zone works for BTC, what's next? Hello everyone. The strong holder zone in my previous idea worked well for BTC. What's next for the crypto? Let's recap why I marked the zone as strong holder. It's whole number of $40000 with long-term MA and flip structure. Now, the formation is even better, a bullish engulfing candle. So I'm bullish on BTC for the short term. The level needs to be closely watched is $47000. If that level is firmly conquered, next target is $50000. What do you think? This is a very quick and simple analysis. I didn't mention the big four players as I used to. Give me a like if you're with me. Thanks for your support.
BITFINEX:BTCUSDLong
by JICPT
AMD: Complete Multi Time Frame Analysis (H, D and W charts)!Hello traders and investors! Let’s see how AMD is doing today! It has been a while since I analyzed it, so we have a lot to update. This is going to be a Multi-Time Frame Analysis (MTFA) and we’ll study the 1h, D and W charts. First, in the 1h chart, we see that the short-term trend is clearly bullish, the only problem is the resistance at $ 106 , which worked as a resistance multiple times in the past. Now it is the best time for a pullback to the 21 ema, and this wouldn’t ruin the bull trend – in fact, it would be an opportunity to buy at a cheaper price . If we break this resistance, we’ll seek the next resistances in the daily chart: Considering that AMD did a false breakout from the previous support at $ 106.98, and that we have a congestion in the mid-term, we can assume that AMD will seek the next resistance at $ 114.49. But remember: We must defeat the first resistance in the 1h chart. This congestion is annoying, but it seems to be just a sideways correction when you analyze the long-term trend: In the weekly chart, AMD is in a clear bull trend, and the pullback seen in the past weeks might be just the price trying to get closer to the previous support level around the $ 99s (black line) . In addition, we are just above the 21 ema. Now that AMD reached this support, it is doing a nice Bullish Engulfing , a classic bullish reversal pattern. The only thing I miss is a good volume , but we have more positive signs than bearish. Let’s follow AMD closely from now on, and remember to follow me to keep in touch with my daily updates, and please, support this idea if you liked it! Have a good day!
NASDAQ:AMD
by Nathan_The_Finance_Hydra
5
GRTUSDT At a key level!Hey guys, As you asked about GRTUSDT, We can say that the price is currently on a support area(However it is not a major) and we have different scenarios for it: 1. Breaking the support area: it would be possible for price to drop till 0.5 2. Rejection happening: At this situation the next target would be 1.1 ----------------------------------------------------------- But let's see what we have on the chart right now: 1. Price made a new higher high and higher low ( Bullish ) 2. RSI hidden divergence ( Bullish ) 3. Support area ( Bullish ) 4. Double top pattern ( Bearish ) 5. Strong bearish engulfing candlesticks ( Bearish ) 6. Breaking the trend line and a pull back is done ( Bearish ) ------------------------------------------------------------ What's my idea? Honestly speaking we don't have enough proofs to be seller or buyer at the moment. But as the Bitcoin market is bearish and here we have strong bearish engulfing, so I have more bearish bias at this situation. It was my opinion, but please let me know what do you think about this market? Bullish or Bearish and why? Good Luck!
by Brian_Philips
4