GBPJPY 15M SCALPING US SESSION INSIDE CANDLE BREAKOUT STRATEGYINSIDE CANDLE STRATEGY
What is an Inside Candle
1. Previous candle engulfs next candle.
2. 2nd candle high is lower that 1st engulfing candle.
3. 2nd candle low is higher than 1st engulfing candle.
INSIDE CANDLE METHOD
1. Incoming Trend
2. Inside Candle – Opposite Color
3. Enter Break of Engulfing Larger Candle
Inside Candle method is a great short term consolidation indicator.
If your trade plan contains breakouts and consolidation then this method is for you.
This is a great way to find smaller consolidations quicker which will give you more trades on whatever time frame you want to look.
On a daily chart it may take weeks for a consolidation pattern to form.
An Inside candle represents a pause, consolidation or compression in the market after a big move.
Often you will also see reduced volume on the inside candle.
Inside Candle method is a pause or a reversal of the trend . So it is more effective if there is an incoming trend.
Enter a break of the larger engulfing candle in the direction of the break.
Enter with a Stop Order a few pips above or below breakout level.
Which trades you take is a matter of preference.
Some like reversal trades or trend following trades.
Scalping inside candle pattern doesn't matter what direction you may go.
Trend following you will want to see this in context of a larger trend.
Take all the trade setups and just shut down the ones that don't preform.
Trade Management: Enter 2 trades
Stop Loss is 1.5 x ATR for both trades
First Take Profit is 1 x ATR for 1st trade
2nd trade there is no take profit.
When 1st TP is hit move 2nd trades SL to breakeven.
Let profit run on 2nd trade by following/trailing SL.
If a candle closes back inside the larger engulfing candle close down trade.
Watch for a setup for the next breakout.
Engulfing Candle
BTCUSD - Bullish patterns forming. Potential bottom?Even while bitcoin has been consistently dropping from one support level to the next, there are some bullish price action patterns that have been forming over the past week. Firstly, price is sitting on a critical support trend line on the log chart that goes all the way back to early 2015. Off of this key support level two large bullish engulfing bars have formed. We will need to see price push higher from these patterns and hold above the important $7,700 resistance to have any hope that a bottom is in. This market has a lot to prove but these bullish patterns are a good start.
BTC Core Macro Continues Downward SlideExcited by the reaction off of that 6.4k touch, much of the crypto community has grown horns, and become bullish again. I understand it. I even hope(d) it was a nice strong reversal beginning. The Weekly tells a much more grim story.
A) Chikou has been rejected by the cloud.
B) Chikou has now traveled below price, as well as below T&K
C) In late Oct we formed an Engulfing candle. So far we've only resolved it to the downside (arrow) Holding that yellow block is important for Bulls to keep their "Reversal" hopes alive. The "Never below 6k again" crowd will get their answer if/when we test that block.
D) Look left......That Looooong.....Straight Cloud......Think it'll get a reaction? ::wink::
Bulls need to regain 7.3-7.5 to keep their hopes alive, imo. LHs LLs continue to be the reality. Perhaps we play an Edge-To-Edge on that Cloud, and tap 4.5k or so before making HL's and HH's ::wink::
EURUSD 1H INSIDE CANDLE METHOD BREAKOUTINSIDE CANDLE STRATEGY
What is an Inside Candle
1. Previous candle engulfs next candle.
2. 2nd candle high is lower that 1st candle.
3. 2nd candle low is higher than 1st candle.
INSIDE CANDLE METHOD
1. Incoming Trend
2. Inside Candle – Opposite Color
3. Enter Break of Engulfing Larger Candle
Inside Candle method is a great short term consolidation indicator.
If your trade plan contains breakouts and consolidation then this method is for you.
This is a great way to find smaller consolidations quicker which will give you more trades on whatever time frame you want to look.
On a daily chart it may take weeks for a consolidation pattern to form.
Inside candle represents a pause, consolidation or compression in the market after a big move.
Often you will also see reduced volume on the inside candle.
Inside Candle method is a pause or a reversal of the trend . So it is more effective if there is an incoming trend.
Enter a break of the larger engulfing candle in the direction of the break.
Enter with a Stop Order a few pips above or below breakout level.
Which trades you take is a matter of preference.
Some like reversal trades or trend following trades.
Scalping in doesn't matter what direction you may go.
Trend following you will want to see this in context of a larger trend.
Take all the trade setups and just shut down the ones that don't preform.
Trade Management: Enter 2 trades
Stop Loss is 1.5 x ATR for both trades
First Take Profit is 1 x ATR for 1st trade
2nd trade there is no take profit.
When 1st TP is hit move 2nd trades SL to breakeven.
Let profit run on 2nd trade by following/trailing SL.
If a candle closes back inside the larger engulfing candle close down trade.
Watch for a setup for the next breakout.
100 point drop ahead?GMAB
We are here again, fifth time we hit the upper band of the paralell ascending trend channel, the prior 4 times it made a spinning top and bearish engulfing before heading down. That's pretty much what we can see again, spinning top followed by bearish engulfing.
GMAB, recently broke out of the big overhead resistance from the former triple top, which was formed in 2017. It would be likely that GMAB takes a breather after 8 weeks of green and a bit overextended. It could take a small dive and revisit 1485 and enjoy the view from the former top and bounce back from there.
USDCHF rejection on the up-channelUSDCHF reached the top of an ascending channel that we've been monitoring for the past 2 weeks.
Sellers had a nice reaction, with a shooting start, followed by a bearish engulfing pattern.
Risk to reward ratio is very good for this trade, so it's worth a try.
A complete analysis of it is available on my last video on my YouTube channel.
EUR/USD – Bearish Engulfing Candlestick on The Weekly Chart.On the weekly chart, we can see how the candle from 2 weeks ago has ended as a bearish engulfing candlestick.
It indicates that the long term bearish momentum is still continuing.
On the H1 chart, we can see a fresh supply above which is a great level to sell and join the long term bearish momentum.
I'll sell at this supply and the target will be 1.0700 zones.
GBPJPY Bounced at SupportSTRATEGY: S&R Trading Strategy
(1247)
Analysis
1D: Price still moving inside a well-defined range
1H: Looking at 1H TF, a Hammer was created and it was followed by Bullish Engulfing which act as our ETs
See previous post for more details:
Action Item(s)
- Scale-in as necessary
Note: This post is for my personal journal/personal opinion only. Please trade at your own risk
USDCAD Support and Resistance Trading StrategySTRATEGY: Support & Resistance Trading Strategy
DETAILS
Analysis TF: 4H/1D
Focus TF: 1H
SL: Just above Bearish Engulfing (0.5ATRC on 1H TF)
AOV: Resistance Zone
1D Analysis
MC: Sideways - Price bouncing inside Horizontal Support and Resistance
4H Analysis
Price struggles to create a new High, forming a Bearish Engulfing (not yet closed - but it is a high momentum candlestick)
1H Analysis
ET: Bearish Engulfing - Confirmed Bearish Engulfing occurred on 1H TF.
Will scale in if price bounced on Support or on 10EMA, 83/100EMA or 200EMA at 1H TF
Will scale in if price bounced on Support or on 10EMA, 83/100EMA or 200EMA at 1H TF
Note: This post is my personal journal/opinion only. Please trade at your own risk.
#ExcellentTrade #BearishEngulfing #SupportandResistance #MovingAverage
GBPJPY Support and Resistance Trading StrategySTRATEGY: S&R Trading Strategy
ID: 1209
Analysis TF: 1D
Focus TF: 1H
AOV: Minor Resistance Area
ET (1H): Bearish Engulfing
CP: Ascending Channel
1D Analysis
MS: Sideways - Price is moving in a range
1H Analysis:
CP: Ascending Channel - Price is moving inside the Ascending Channel. However, price failed to break above minor resistance of 140.597. It also looks like price made a pullback under the Ascending Channel.
Price closed with Bearish Engulfing which act as our Entry Trigger (ET).
Short Position
SL: Just above the Minor resistance (140.618)
TP: 2.19R - Just before Major Support
Note: This post is my personal journal/opinion only. Please trade at your own risk.
CADJPY Ascending/Descending Channel Support Zone ConfluenceSTRATEGY: Chart Patter/S&R Strategy (Ascending and Descending Channel)
Focus TF: 4H
TP Target: 2.04R
ET: 1H - Abandoned Baby; Bullish Engulfing
AOV: Ascending and Descending Channels' Support Zone (Confluence)
1D Analysis:
Long Term - Price moving inside a large Ascending Channel.
Short Term - Inside Ascending Channel, there's a Descending Channel and the price approached both Large Ascending and Descending Channels' Support Zone.
Pin Bars occurred on the Support Zone showing rejection of the area. There is a high probability that the price will bounce and hit the Major Resistance (Horizontal) area.
4H Analysis:
Price struggled to create a new low, showing mini consolidation and price rejection of the Support Zone
1H Analysis:
ET:
- Abandoned Baby
- Bullish Engulfing - Series of Bullish Engulfing occurred on 1H TF. These are a great sign that price is ready to bounce and go up.
Note: This post is my personal journal/opinion only. Please trade at your own risk.
EUR/USD Short SetupPrice is facing resistance at the 1.1060 level and a bearish engulfing pattern has been confirmed. If this sort of setup meets anyone's trading plan this is how It would look.
Entry --> 1.1060
Stop Loss ---> 1.1070
Take Profit--> 1.1040
Risk/Reward -->2.0
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This information is not a recommendation to buy or sell. It is to be used for educational purposes only.