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Engulfing Candle

BTC - H1 - TRIPLE TOP !H1 : Recent price action triggered a triple top formation coupled with bearish divergences !!! Bearish engulfing pattern, confirmed by another long black candle pushed BTC down, breaking on its way the former uptrend support line in moving down below Tenkan-Sen, Kijun-Sen and Mid Bollinger Band. Next short term support is now @ 52650 former peak of March 3rd ahead of the clouds support area which iscurrently very thin = FRAGILITY !!! Interesting to note that the 38.2 % Fib ret is @ 52200, in the middle of the clouds area ! Watch also carefully M15 to detect early signal (s)
BITSTAMP:BTCUSD
by Ironman8848
1
BTC - H4 - TENKAN-SEN UNDER ATTACK !H4 : After the strong triangle breakout and as expected BTC lost momentum and last candle triggered a bearish engulfing pattern. For the time being, the first support (Tenkan-Sen) hold; nevertheless, technical indicators are switching from the sideways to the downside which may be the first signal (s) of a short term trend reversal. A failure to hold above TS @ 53554 would put the focus on MBB @ 51992 (roughly the level of the triangle breakout, such kind of correction would complete the expected pullback and if occurs, it should be seen as the REAL TEST of a successful upside breakout. Indeed, it is crucial, in order, to maintain the bullish tone, to stay and hold above 51500 (Kijun-Sen) as a failure to do it would invalidate the triangle pattern and reopen the door for lower levels. Watch shorter time frames H1 and M15 to get intermediate signal (s) which will allow you to act accordingly. Have a nice trading day. All the best Have fun and take care.
BITSTAMP:BTCUSD
by Ironman8848
1
MSFT: We all must be aware of these KEY POINTS!Hello traders and investors! Let’s talk about MSFT today! The volatility increased a lot recently, so, let’s see the daily chart first, followed by the weekly chart. Yes, MSFT is doing a correction right now, which is fine, considering it performed very well a few weeks ago. In fact, MSFT did a Bearish Engulfing , just after it retested the 21 ema, and this made it drop to its support levels. The first support level is the black line at $ 227, which was a previous resistance, and now it is working as a support, an expected movement according to the Principle of Polarity . The other support is the purple trendline, which was a previous resistance for this huge Symmetrical Triangle pattern. Keep this Triangle in mind, we have more to say about it. Meanwhile, the volume increased, along with the volatility, meaning that this is not an easy time for MSFT, and if it loses these support levels, it could easily retest the lower purple trendline . Therefore, we must see a reaction quickly. Now, then weekly chart: The Triangle chart pattern seen in the daily chart is a Pennant pattern in the weekly chart, and both reinforces a long-term bullish bias on MSFT. Now, all we can assume is that the stock is doing a correction in the weekly chart, after a breakout of this Pennant, which makes sense. Since this Pennant is a Symmetrical Triangle in the daily chart, and this pattern has a pullback rate of 65% after a breakout, this movement makes statistical sense. What’s more interesting is that it just hit the 21 ema , which is another support level for MSFT. The volume is quite high, and the situation is still dangerous, but if we see any bullish reaction around, the bearish sentiment seen in the last few days could come to an end. We don’t have a buy signal, but this is definitely not a bear market yet (no lower highs/lows) . Right now, is time to wait and manage positions. If you want to keep in touch with my daily analyses, remember to follow me . And since you are still here, please, support this idea . Probably you found it interesting, or you wouldn’t still be reading this. Thank you very much, have a nice weekend!
NASDAQ:MSFT
by Nathan_The_Finance_Hydra
4
BTCUSD- W1 - MIRROR EFFECTW1 : Global picture is showing a "mirror effect" in progress. Last week price action triggered a long black candle (bearish engulfing pattern) which filled the 23.6 % Fibonacci retracement @ 45491 (3850-58354) and reached an intra-week low of 43021 ! After this sharp downside, it was more than likely to see some recovery which took place in pushing up the BTC towards a high, so far of 46875, which globally should still be seen as an "healthy" corrective move in a still a broad bear trend ! In order to neutralise this ongoing bearish price action, in W1 , we need to see a move which should break, at least the level of 51362, which is the middle of the bearish engulfing pattern). Watch D1 for clues Have a nice week
BITSTAMP:BTCUSD
by Ironman8848
3
Ultimate Candlestick Cheat Sheet For CryptoHello, traders! Here is the cheat sheet for the candlestick patterns. They are divided into five groups: -Bullish Reversal -Bullish Trend Continuation -Bearish Reversal -Bearish Trend Continuation -Neutral All these common formations you can see on the chart but first of all you should understand what has happened on the market. When you are looking at the candle a lot of useful information can be received. For example if the candle have the long wick to the downside and short body (hammer), it means a huge bullish pressure and this is a reversal to the uptrend sign. When you have three stars in the South formation it is can be noticed that the wicks to the downside are long and bodies became shorter. It means the weakness of the downtrend and also the sign of the potential reverse. If the candle have a very small body (doji) this indicates that the market is in indefinite situation. Bulls and bears war did not lead to price changes and future price direction is unknown. Do you use the candlestick patterns? Please write your comment and give us a support with like if you like such cheat sheets! DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
Education
by Skyrexio
11
Bullish engulfing and USDCADYesterday caused great hesitation. Today in many places we see engulfing candles. At USDCAD yesterday completely absorbed the previous decline and closed above it. This is a strong signal that the bulls are currently the stronger participants and we expect them to raise the price further. It is currently under serious resistance from previous levels, but in the event of a breakout it can quickly reach 1.2850! If you have questions about how to trade this or another situation, contact us! To support us, like and comment!
Long
by ForexTrendline
1
Reversal at GBPCADHere we have an interesting opportunity from a reversal candle on D1 Yesterday GBPCAD closed very strongly down, leaving a long queue at the top before that. In this way he managed to absorb the day before. Viewed on the H1 chart, this represents a break of the upward trend. At the moment we can expect a correction and test of the resistance levels, after which we will see new downward pressure. The next serious support is at 1.7593! If you have questions about how to trade this or another situation, contact us! To support us, like and comment!
Short
by ForexTrendline
6