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Engulfing Candle

Daily shooting star reversal candle + bearish engulfing (BTC) Hello traders, Daily timeframe analysis: bearish confluence ✓ 1) shooting star reversal candle. 2) bearish engulfing candle on the following candle which confirms the initial reversal candle. 3) top of the rising wedge. September is probably going to be red, as it aligns with the rising wedge and recent price action with the candle stick patterns. Stay safe, and feel free to comment if you have any further questions or comments, also please like this post as it means a lot and shows support to my page. 👍
BITFINEX:BTCUSDShort
by YurloTrades
9
SIMPLE PRICE ACTION STRATEGY! PART 1RULE NO 1: Use S&R Levels As Well As The SUPPLY & DEMAND ZONES. RULE NO 2: Look For BULLISH ENGULFINGS In The UP TREND TREND 2: PIN BAR CANDLE 3: BULLISH HAMMER AND Look For BEARISH ENGULFING In The DOWN TREND 2: SHOOTING STAR 3: BEARISH PIN BAR NOTE: Use These Patterns on S&R , Supply And Demand Zones Break Of Structure Etc. 3RD RULE USE 4H TIMEFRAME IF YOU WANT TO LEARN IT FROM ME ASK ME IN COMMENTS I WILL TELL YOU HOW TO UNDERSTAND MARKET STRUCTURE EASILY ! USING TOO MUCH INDICATORS CAN LEAD YOU TO A HUGE LOSS. This Is Not An Investment Advice. HOPE YOU CAN UNDERSTAND! HAVE A NICE TRADING JOURNEY !
Education
by SarimAaraiz
3
GBPUSD in bulls control!Based on the chart, price reached a major support area and a strong rejection have happened recently. This happening can show the strength of buyers at this area and on the other side a weakness on sellers because their attempt to pull down the market was failed by a strong Engulfing Candlestick. So based on this scenario I opened a buy position with a good risk reward ratio to me (about 1:3) Note: As always please take risk management rules into consideration before opening any position on the market. Good Luck!
Long
by Brian_Philips
2
BTC medium term bullish close POSSIBILITY28 hours to the close of the weekly candle If we manage to close at 34700 (higher - 35700 would be even better) then we´ll have first bullish engulfing in this correction - pretty good sign Would love to see RSI crossing the 50 level, MC green dot and of course Hash Ribbon, though. Entry - at weekly candle close SL - just under the candle body TP - on your criteria (maybe 45000) DISCLAIMER: not a financial advice, just my own perspective of the market
Long
by aqpclimber
2
Let's talk about Candlestick Chart PatternsThe candlestick chart patterns are used by traders to set up their trades, and predicting the future direction of the price movements. There are many candlestick chart patterns. I will be discussing a few of those. ✅ Morning Star is formed after a downtrend indicating a bullish reversal. Generally made of 3 candlesticks, first being a bearish candle, second a Doji, and third being a bullish candle. The first candle shows the continuation of the downtrend, the second being a Doji shows indecision in the market and the third bullish candle shows that bulls are back in action. ✅ Bullish Hammer is a single candlestick pattern, which is formed at the end of the downtrend and shows bullish reversal. The real body of this candle is small with a long lower wick which should be more than twice the real body. This candle is formed when the seller pushes the price downwards but at the same time buyers arrive and push the prices up. ✅ Bullish Engulfing is formed after a downtrend, indicating a bullish reversal. It is formed when a bearish candle is fully engulfed by a bullish candle which shows that the bulls are back in the market. ✅ Three White Soldiers is a multiple candlestick pattern that is formed after a downtrend indicating a bullish reversal. It is formed when three consecutive bullish candles appear one after the other. These three candles show a strong bullish trend. ✅ Hanging Man is generally formed at the end of an uptrend and signals bearish reversal. The real body of this candle is small and is located at the top with a lower shadow which should be more than twice the real body. This candlestick pattern has no or little upper shadow. ✅ Dark Cloud Cover is formed by two candles, the first candle being a bullish candle which indicates the continuation of the uptrend. The second candle is a bearish candle that opens the gap up but closes more than 50% of the real body of the previous candle which shows that the bears are back in the market and a bearish reversal is going to take place. ✅ Bearish Engulfing is formed by two candles, after an uptrend indicating a bearish reversal. It is formed by two candles, the second candlestick engulfing the first candlestick. The first candle being a bullish candle indicates the continuation of the uptrend. The second candlestick chart is a long bearish candle that completely engulfs the first candle and shows that the bears are back in the market. ✅ Evening Star is made of 3 candlesticks, first being a bullish candle, second a Doji, and third being a bearish candle. The first candle shows the continuation of the uptrend, the second candle being a doji indicates indecision in the market, and the third bearish candle shows that the bears are back in the market and reversal is going to take place. Thanks for reading and hope you like it. Please comment and let us know your thoughts on it. Happy Trading
Education
by Tuned_Official
BEARISH ENGULFING CANDLE CONFIRMED (1+1=SELL) BTCHello traders, Here's the fully developed technical analysis I've put together after the last 36 hours of going sideways in the overbought zone. Stoch rsi (momentum oscillator) is finally starting to point down after confirming a bearish engulfing candle on the 3 hour timeframe. 3 doji's with the most recent candle looking ready to increase sell pressure at any given time. Some time's you need to remain patient as price action develops and wait for the right things you'd like to see for conditions to be met. Asia likely destroys the market tonight, wouldn't want to be in any leveraged longs as 25x longs will likely be targeted next. Like previously stated in my last few technical analysis, the liquidity is now down. Elon, Jack, and Cathie's discussion lured traders into buying higher and now big money's bags have been filled and liquidations will be coming for bulls soon. 36 hours in the overbought condition going sideways will be interesting to see how hard it comes back down. Downtrend has 3 validation touches now and uptrend only has 2, bulls need to show strength around $30,888 or else we likely head back down to retest $30,000. Stay safe fam. Please show your support by leaving a like/comment! 👍
BITFINEX:BTCUSDShort
by YurloTrades
13
SPCE: Time to buy now?Hello traders and investors! Let’s take a look at SPCE again! Is it finally interesting now? Well, we’ll see. SPCE is still in a bear trend, and there’s not a single reversal sign around. We can assume SPCE is just bouncing back to its 21 ema, before it drops again. However, I agree that the recent candlesticks are looking interesting, and it gets better if we look at the daily chart: Despite the lack of bullish structure in the 1h chart, we have a good candlestick pattern here, which looks like a Bullish Engulfing , just above the support level made by the 61.8% Fibonacci’s Retracement. The 50% retracement didn’t hold the price as I thought in my previous analysis, but the 61.8% is as good as any retracement. The volume is good too, and this could be a buy sign. The problem: It is a very risky buy, as we have no solid bullish structure around, and just one candlestick pattern might be not enough. What’s more, the volatility is quite high, SPCE should decrease it a little bit more, and a sideways movement f or the next weeks is something we can imagine. Moments like this brings a lot of stress, as we see many erratic movements. To sum up, if I had to do anything on SPCE, I would buy, as the Risk/Reward ratio favors long trades. Nevertheless, since I have option to stay out of this, I rather prefer to trade other stocks, outside of people’s radar, which are much more interesting than SPCE. Remember to follow me to keep in touch with my daily updates, and support this idea if you liked it! Thank you very much!
NYSE:SPCE
by Nathan_The_Finance_Hydra
2