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Engulfing Candle

BTC - W1 - LAST WEEK PRICE ACTION TRIGGERED A BULLISH ENGULFING W1 : As shown on this chart, last week price action triggered a long white candle (bullish engulfing) which neutralized the former downside risk. In addition BTC closed above the Tenkan-Sen (Conversion line) which is also a positive sign. The pivot level on this W1 time frame is @ 52'700. Indeed, as seen in the past, this area coincided at the middle of long candle and therefore should also be seen as an equilibrium level. Therefore, BTC is caught now in a 52'700-60'000 trading range (59'979 being the high weekly closing seeing so far !) GLOBAL PICTURE ON A WEEKLY PERSPECTIVE - IMPLICATIONS OF A BREAKOUT OF THIS TRADING RANGE : Upside : Door open for 61'075 ahead of a retest of historical high @ 64'895 Downside : Mid Bollinger Band @ 47'525 Watch D1 for clues Have a nice week and have fun. All the best Take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
DASH - powerful price actionDASH bottomed out with a mini inverted Head & Shoulders before breaking above the neckline @ 136 with a strong bullish engulfing candle last Friday. More upside potential especially now with RSI clearing above 50. Ideally one should have entered yesterday at the open @ 138 or as soon as it started to go above Fri's high @ 141. Otherwise, accumulate on any near term weakness with a tight initial stop loss below yesterday's candle ~ 133. Target shown are suggested only. Or ride the trade with trailing stops. Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
DLong
by Juliac
TSLA - Here we go (up) againAfter hitting a mini high of 780 on 14 April, and just when the bulls are thinking it is going straight to the moon, Telsa went into a rather painful correction. Finally we had enough signals last Friday to be optimistic that this recent correction could be over: 1. retraced 61.8% of it's recent CD swing up and appeared to have found support here by bouncing off here and 2. formed a bullish engulfing candle 3 bullish divergence seen between price and stochastics Those who go long now will need to put the initial stop loss below it's last low of 666 (perhaps as low as 658). Should this trade fail, retest at the next significant support around 591. Should the trade works out (which at this point the odds looks good), consider to take partial profits @ 780, then 900-925 and finally 1000. Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Feel free to give me your thoughts ! :)
NASDAQ:TSLALong
by Juliac
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VUZI - Rebound in the works VUZI tested and bounced off the last pivot low at 19.90 yesterday with a strong bullish divergence candle, establising a horizontal support here. A bullish divergence is now apparent between it's price and RSI, it is likely to continue the upward momentum in the coming week. Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
NASDAQ:VUZILong
by Juliac
BTC - W1 - WARNING ! BEARISH ENGULFING PATTERN !!!W1 : Last week price action triggered a BEARISH ENGULFING PATTERN ! Interesting to note that lowest seen was 51'541, close to the 38.2% Fib ret @ 51106. Of course, such kind of bearish candlesticks, should be, in this W1 time frame, confirmed on a closing basis at the end of this week ! Nevertheless, the fact that we get out of the uptrend channel is one of the first warning signal that the former bullish trend could be over. Watch shorter time frames to monitor the ongoing price action which would allow to act accordingly on the time frames you choose for your trading strategies ! Have a nice trading week, all the best, take care and have fun ! May your long goes up and your short goes down. And finally, please do not hesitate, of course, if you find, my technical analysis approach, valuable for you, to like it and to add me, if it is not done yet, on your following list. Ironman88848
BITSTAMP:BTCUSD
by Ironman8848