Bearish Engulfing Bearish engulfing pattern on 1D candle
short @97.50-98
stoploss @99.65
target 1- 94.6
target 2 - 93.5
RRR1 - 1.34%
RRR2 - 1.85%
For educational purpose only
Engulfing Candle
Engulfing vs Convergence and golden crossWell no one knows the future but lets guess it :) this is our job to guess the future by these signs ...
As you can see we had big move ! it shocked every one including me :)
If you check this idea you will find it out what Im talking about.
We touched a strong resistance and we couldn't break it ! that was the resistance punch :)
But if you see the daily chart now, you can see a engulfing candle stick is forming, but there is still a hope for breaking 10k, rsi ...
If you see the support line of rsi here, and also macd ! you can see that there is still hope to break 10k area.
So Im saying again ...
Lets see what will happen and do not enter your trades before confirmation.
If you liked it, please hit the like button, share and write your comments, thanks for reading.
Take care, trade safe
BYND Engulfing Candle, Reached Resistance Area, Gap Down BellowBYND Engulfing Candle, Reached Resistance Area, May want to close Gap Down Bellow
USD/CHF- 1 Hour overviewHello everybody!
-On a 1-hour chart, we can see that the price reached the support area and we can see that the price is forming bullish engulfing so we may have very nice bullish setup.
-On a stochastic indicator, we can see that the price is in an oversold condition and that is an additional confirmation to take a long position.
-On a 4-hour base, USD and CHF are at a similar level but on a 1-hour, USD is stronger than CHF.
-If USD remains stronger than CHF then we can expect bullish movement.
-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 a Financial
advice.
CLX - rare green among the sea of red todayCLX tested the 50% fibonacci retracement and quickly proceed to form a bullish engulf candle. With bullish divergence on the stochastic, time to long @ 198 with initial stop at 193 and looking scale out between 210 (recent hi) and 210 (127% fib extension).
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.
NZDUSD: SELL SETUPNZDusd as been in a clear uptrend since the past week but looking at price reaction and rejection towards the 0.616 level, I think buys sentiment is getting exhausted as H4 timeframe shows weakness with a bearish engulfing candle.
I expect price to move from where it is currently towards 0.606 level and maybe into 0.600 level. Looking at the Daily Timeframe, NZDUSD has been in a range, so it is much easier to predict price direction of where buyers and sellers would be . Every information to take this trade is quite explanatory in the chart .
Risk Warning : The risk of loss in trading Foreign Exchange (FOREX) can be substantial.
You should therefore carefully consider whether trading is suitable for you in the light of your financial condition.
Goodluck !
Short opportunity on AUDJPY with bearish engulfing barA bearish engulfing bar has formed at the resistance of the AUDJPY on 4Hr. The bearish engulfing pattern has momentum behind it as it is reversing a sharp uptrend that shows signs of exhaustion. Good trade. Have to watch it though because there might be some traffic along the way down.
Place pending order according to entry strategy. Use due risk and money management.
USDCAD Short term BuysFollowing USDCAD, we can see this major consolidation zone which has been around since Covid-19's Lock-down began. So, lets break this down further, this pair is in a range between my descending Trendline and this major support at 1.38701. As price rallied downwards last week, we came to our support zone and we did not break this support zone. Therefore, we initially look for buys at this support. Price casually bounced off of this support zone and created a nice bullish engulfing candlestick pattern (the yellow box). A classic pattern to come across. So, we will now place our entry at the top of the large bullish candle and our Stop Loss will go at the bottom of the same candle. We only use a 1:3 Risk to Reward Ratio for this trade, roughly a 1:2.5 which is still a healthy trade.
Entry: 1.29347
SL: 1.38445
TP: 1.41500
EURJPY Ascending Channel Look for sell and long BuyAscending Channel forming look for sell followed by retest of the trendline break back to the engulfing candle near the 60 percent retracement zone.
EURNZD Sell SignalEURO has rejected to break the key resistance level against Kiwi. Besides, it has created a Bearish Engulfing Bar which is a sure sell signal that can be supported by any technical indicator to pull the trigger. I would recommend the H1 timeframe to pull the trigger.
RCM forms Bullish Engulfing at Lower BoundaryAn Intraday setup to go long
RCM has been in an upward rising channel and price has tried to break down the lower boundary. However, the last session showed there are still buyers at this level and the session ended with a bullish engulfing pattern.
I am expecting some bullishness in the short term in the new session. This bullishness could be for short term or medium term.
The whole rising channel is part of a big correction and the opportunities only arise within this channel.
NASDAQ Short Term ForecastD1- Price has created a triple wave to the upside.
The price which was moving higher respected the key resistance zone formed by the 9500 psychological level, the 161.8% (9565.6) fibonacci expansion level of the first wave, and the 61.8% (9336.5) fibonacci expansion level of the second wave and is currently moving lower.
We had a bearish divergence and an engulfing candle pattern.
H4 - Price has broken below the uptrend line. Until this uptrend line breakout holds we may expect short term bearish moves towards the key support zone formed by the 38.2% (8327.2) - 50% (8004.2) fibonacci retracement zone of the daily triple wave.
POSSIBLE SHORT OPPORTUNITY Hello traders! We are looking at a possible short opportunity here as we see a bearish move that broke below a zone which is not illustrated on the chart. My apologies, however, the trendline was retested and we see a bearish candle that violated a zone. We could see a continuation following this retest. Look for confirmations for trading opportunities. There are 2 targets suggested if this idea is valid. This is an idea not a signal, sharper for educational purposes. React from the market not predictions. Trade smart don’t gamble.
-Rum
Old School Bearish Engulfing!Education: A bearish engulfing pattern is a technical chart pattern that signals lower prices to come. The pattern consists of an up (white or green) candlestick followed by a large down (black or red) candlestick that eclipses or "engulfs" the smaller up candle.
Do not ignore the BEAR in the market!
Can we fill the gap?Welcome to my daily market update (13/05/20):
So after the halving celebration (CONGRATULATION!) what is next? no one really knows, but my speculation is that the celebration is over, we can sell our begs and walk home...
I'm joking, well partially, why? because there is no more real Fomo to stay, the narrative is over. what another reason for whales to hold this price? we might see a lot of pressure to close at-least this gap (or just fake outs until we see big oversold candles and panic again).
For now, the smart thing to do for the mid-term is to stay bullish
- Daily bullish engulfing:
- Ascending triangle at end of fall - bullish.
- Should we close above 4h e21 it should bring strong momentum to close above the triangle, which means we should at-least test the cloud.
* failing to break up this triangle might actually show continuation of the trend downwards, going below 8585 again from my perspective will go much much deeper towards 7725.
As usual, my bigger picture is shorts, did good profits with that. lets see how it goes, but for you plebs? the smarter thing to do is longing this out.
HSI | bearish 1-2-3 reversal pattern
the strong red bar that broken the wedge a few days ago signaled the start of 1-2-3 pattern
at point 3 today, it will be an strong engulfing pattern
it is also a false breakout of 1) horizontal resistance, 2) a long-term downward trendline and 3) 50 SMA
I have three indices in mind: NASDAQ > SP500 > HSI, and HSI is always the weakest candidate for short
China's failure to obey trade deal could be the fundamental catalyst for this selloff
EURJPY - Swing Trading sell ideaEURJPY had a very strong short-term up-movement, especially due to a very weak Japanese Yen in the past 2 days.
In the long term, I still believe that the market is bearish:
We have the chance to trade the rejection on a very good level of resistance.
Although the first reaction is promising, we have a bearish engulfing pattern, the market is coming from a very strong up-movement, so I want to wait for a second confirmation.
There's a candlestick (the one where the red horizontal line starts) that shows a first attempt by sellers to push the price down, but buyers proved to be strong enough and we had a so-called pin bar.
This is a second attempt and we want to see sellers closing the session below the low formed by last attempt, so I place a stop entry order below it, below the red horizontal line.
Stop loss above the resistance and take profit slightly above last important long-term swing low, where I will evaluate if it is better to take the profits or keep the trade for a breakout and a new lower low.
Bitcoin will plunge to 7700$Bitcoin will dive to 7700 because we're witnessing a engulfing candlestick and the moving crossover are tight to each other and are to cross over.
Take profit around 7700$
Don't think it can go easily up, this resistance above is strong, it need one leg more to go down.
Have a nice trading week and risk reward
Coming week, Aussie expected to go stronger against dollarA day before NFP, on Thursday, the aussie continued to strengthen against the dollar. On the daily, it showed upside volatility and broke through the 0.6459 resistance. A bullish engulfing bar was noticed which indicated that prices would rise further.
With the US unemployment rate now at 14.7% and negative GDP growth of 31.22% expected for the second quarter, the aussie would continue to strengthen against the dollar in the coming days. I am looking for long opportunities here.
