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Engulfing Candle

NZDJPY, daily tf, bulls in control for nowHello my friends, Another setup for next week is NZDJPY pairs. As you can see NZDJPY pretty much bullish since breaking above the 5 months flag pattern. For me, there is still further upside for this pair. The measured objective of that 5 months flag pattern was around 800-900 pips in my opinion. We could see NZDJPY continue to the upside until 76-77 area. Long/Buy positons will be in favor for now and we will only look to buy this pair. As you can see price right now consolidating inside a possible bullish continuation pattern right now. This could be a pennant / flag pattern. We will try taking a buy position at 73.35 area for our first buy position. This 73.35 area is our horizontal support and possibly flag/pennat pattern support. EMA-20 are also located near this area so pretty much it will be an area of confluences. As price continue higher and make another pattern which is favorable for bulls, we will add more positions. Buy limit NZDJPY 73.35 Stop loss 73.00 Take profit 75.65 (6.5 R) RR Ratio 1 : 6.5 Use only 1-2% risk Good luck
Long
by HayatoDragonFX
2
SPX: Some Key Points to keep in mind!Hello traders and investors! It’s been a while since my last analysis on SPX, but let’s see how it is doing this Friday! First, it filled the Exhaustion Gap , showing some signs of weakness, and today it lost the black line at 3710, triggering a pivot point that could lead SPX to lower levels. Since the trend is still clearly bullish, a retest of the purple trendline is something we can work with right now, for the short-term. This target makes sense if we look at the daily chart as well: We have a Bearish Engulfing today, and this indicates that the index could drop to the dual-support area around the 21 ema and the blue line (previous top/previous support). So far, I can’t tell that this is a reversal sign because the volume was very low today, meaning that this is not a real sell-off, but people booking profits instead. All we know that this could be the beginning of a pullback to the points mentioned above. Next week we’ll have more info. These are the Key Points for SPX right now. If this idea helped you, consider following me to keep in touch with my daily analyses. And please, support this idea if you liked it! Thank you very much, have a great weekend!
SP:SPX
by Nathan_The_Finance_Hydra
2
Is the US Dollar turning bullish?TVC:DXY On a weekly chart we see a MACD & RSI divergence. But that alone is not enough. We need to see a reversal pattern and/or structure breakthrough. So lets dig deeper: On a 4H chart we see a double bottom, with the second leg being a bullish engulfing candle. Moreover, this is accompanied by a MACD & RSI Divergence. We believe that a confirmation of the engulfing candle + a breakout of the downward resistance lines shown in the chart, could possibly lead to a larger positive trend in the USD. Happy Trading! Share your view on the DXY. Whether you agree or disagree, we can learn from everyone. Macro views are also great!
TVC:DXYLong
by nadavhurwitz
NIO: How far could NIO drop?Hello traders and investors! Nio is dropping today, which makes sense, as we have a Red Friday today, and most indices are dropping around the world. Let’s start our usual Multi Time Frame Analysis . First, NIO is losing the support level at the red line , frustrating the bullish reaction seen yesterday. The purple trendline is a strong resistance, and NIO failed in defeating it. Now there is no other support, but the purple line around $ 38 to hold the price. The purple line is an important support, and it makes more sense if we analyze the daily chart: The purple line is a support since Nov. 10 and was the Piercing Line’s low as well. It seems NIO is going to retest it, but this movement doesn’t seem to be a real sell-off, as the volume is still too low. While the pink line is the most important Pivot Point , the purple line is the most important support level for the short/mid-term . If NIO loses this purple line, it could trigger a bearish pattern seen in the weekly chart. This pattern could be a Bearish Engulfing , and it could make NIO drop again to the 21 ema, around $ 30 again. I wouldn’t be surprised, but I find this scenario too optimistic, as this would be a great opportunity to buy NIO at a cheaper price. Let’s be careful here and watch NIO’s support levels closely. Therefore, remember to follow me to keep in touch with my daily updates on NIO, and please, support this idea if you liked it! Thank you very much. Have a great weekend!
NYSE:NIO
by Nathan_The_Finance_Hydra
35
NIO: Bullish reaction at a support level!Hello traders and investors! Let’s see how NIO is doing right now! Well, the support level we discussed last week at the red line ($ 42.51) seems to be very strong, indeed! NIO retested it on Friday, and today we have a good reaction, which is a good sign. The first hour candlestick could be an Ignition Bar, and the green line at $ 46.30 is a new Pivot Point . The link to my last analysis is below, as usual. The 21 ema is flat, and it seems the price is starting to defeat it. If NIO defeats the green line, it could easily retest the pink line at $ 48.65 again, and this is another key point we all should keep in mind. Let’s look at the daily chart now: The pink line is a Pivot Point in the daily chart, and if triggered, NIO could seek the All Time High again, and possibly defeat it. The Piercing Line pattern is still valid, and today’s candlestick pattern looks like a Bullish Engulfing . If NIO closes this way, we’ll have a very good sign today. Anyway, the purple line is the last support level for NIO, and it is the Piercing Line’s low. So far, there is no reversal sign and we have the start of a good reaction. And if you liked this analysis, follow me to keep in touch with my daily updates! And please, support this idea if it helped you! Thank you very much.
NYSE:NIO
by Nathan_The_Finance_Hydra
5
XAUUSD, 2hr tf, sell ascending trendline bearish engulfing breakHello my friends, For next week i am going to try selling XAUUSD. As you can see, XAUUSD already move to the upside for 800 pips during this past 1 week. Friday candle closed showed that there is some indecision to XAUUSD and usually when this happened, we could expect some retracement of recent impulsive movement. In my opinion, we could expect XAUUSD to continue higher but it will need some retracement on the way to the upside as well. If you look at the 2hr chart, 2 bearish engulfing candles appeared consecutively engulfing previous candles. This mean sellers area pretty much in control of XAUUSD right now for a short time. If we draw a fibonacci retracement for this recent 800 pips rally, there is a possibility price could retrace to 61.8% fibonacci level before it continue to move upwards. Especially since the ascending trendline was broken with a bearish engulfing candle. We could wait around 1844-45 to enter sell or use a pending sell limit order. Sell limit XAUUSD 1844 Stop loss 1850 Take profit 1797 (7.8R) RR ratio 1 : 7.8 Use 1-2% risk only Good luck
OANDA:XAUUSDShort
by HayatoDragonFX
1
EOS- Big three Dapp platformsEOS, along with ETH and TRON, is one of the three most popular decentralized platforms in terms of amount of dapps, # of users and overall transaction and volume. It is down more than 80% from ATH and is one of the top 10 most popular coins on CB. However, there doesn't seem to have any short-term catalyst for price momentum according to derivative data and fundamental analysis. I think it will be nice to slowly scale in in the demand zone and have a small percentage of your capital allocated to EOS. Set the stoploss below the daily POC. Just my two cents. Not the investment advice.
by Libratus
2
CHF/JPY-4 Hour overviewHello everyone! -On a 4-Hour chart, we can see that the price reached a strong area of support and we can see that the price formed a double bottom pattern. -Double bottom is a reversal pattern which means that the price is more likely to change current direction. -The price formed few doji candles and the price is forming a bullish engulfing candle at this moment. -In that area, we can expect that bears are losing their momentum and there is an opportunity for bulls to take control. -If the price starts moving in a bullish direction I suggest being careful with those resistance lines and areas and to wait for confirmations and for breakouts. -Before taking action in Forex, please check the economic calendar and currency strength meter. -WHAT DO YOU THINK ABOUT THIS SETUP? Please let me know in the comment section! THANKS FOR READING! -If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support. -Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
by lCrn49
4
TSLA: Road to the All Time High.Hello traders and investors! Let’s see how Tesla is doing today! Ok, so Tesla was added to the S&P 500, and this is giving fuel to the stock right now. In my previous analysis, we discussed Bullish Engulfing , which was our last entry point on Tesla. Now it is too late to buy, but we could see an opportunity here if Tesla does a pullback. And if you missed my previous analysis, the link is below, as usual. For now, since we are trading around $ 490, I see that a pullback to the $ 462 again would be good and would offer some interesting opportunities for the late buyers. But for now, it seems Tesla is going to hit the ATH! Now, let’s see the daily chart: We have a Breakaway Gap here, which could be the start of a new bullish run on Tesla, and this seems to be a recurring movement, as every time Tesla does an accumulation, it triggers a new bull trend after a Breakaway Gap. We saw this movement on Oct last year, then on 1st Jun, Jul 2 and Aug 12. Most of these movements are followed by an increase in volume , which is happening right now too. It is not the same volume seen a few months ago, but it is a start. We are very close to the ATH, and maybe it'll offer some resistnce in the short-term, but we can't count too much on that. Now let’s see the weekly chart: Tesla did a Pennant chart pattern here, and as crazy as it sounds, it is breaking out from it this week. The volume decreased during the movement on the Pennant, which is normal and expected, according to the Dow Theory (the volume must confirm the trend). Now it is too late to buy, as the entry point was the Bullish Engulfing in the hourly chart, but I would wait for a pullback here, ideally around the $ 460 zone. This way you’ll increase the R/R ratio of your trade. Either, this movement seems to be the start of a new upside movement, and Tesla will be very interesting from now on. And if you liked this analysis, please, support it ! And follow me to keep in touch with my daily updates. Thank you very much.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
19
TSLA: Low volume/low volatility... What to expect next?Hello traders and investors! Let’s see how Tesla is doing today. It’s been some time since my last analysis, so, let me give you guys some updates. And the link to my previous analysis is below, as usual. First, Tesla is trapped inside what I like to call a Trap Zone , trading above the support at $ 406, but under the resistance at the 21 ema, and the price could breakout to any direction from here. The support at $ 406 is strong, but Tesla is coming from a clear short-term bear trend. We had a Bullish Engulfing candlestick pattern on Friday, which was a good entry point, but the 21 ema is stronger than we expected. If Tesla loses the Engulfing’s low, there will be no clear support levels until it hits the $ 379 again. Let’s see the daily chart for more clues: Tesla is inside a congestion , and here you can see clearly why I said that if it loses the blue line, the next stop would be the $ 379 (previous bottom). T he volatility decreased a lot, and the volume is extremely low as well . In this circumstance, it is normal for a stock to do small candlesticks. The 21 ema is flat, meaning we have no clear trend, and the yellow area down there is a possible buy zone , which we can see better in the weekly chart: By looking at this chart, Tesla doesn’t look so bad, right? The long-term trend is clearly bullish, and it seems it is just retesting again the 21 ema in the weekly chart. The yellow area is a triple support level , made by the purple and pink lines, along with the 21 ema. The low volume is acceptable during pullbacks in a bull trend, according to the Dow Theory , and this doesn’t change the fact that the trend is still bullish. But Tesla must do a reaction with good volume to resume the bullish momentum, otherwise, it’ll just keep trading erratically for some time. If you liked this idea, please, support it ! And remember to follow me to keep in touch with my daily analyses! Have a great day.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
5