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Engulfing Candle

EURJPY - SellHey! It has almost two perfect bearish Engulfing patterns in a row and this is pretty unusual: The last week candle managed to break and close below the 2018 low level and we can assume that the movement may continue in the further week. Wait for a pullback into the blue box area and it should be ready to make another move from there. It goes just a little bit against my other analysis - CADJPY - but both have their blue areas in different places, so watch those!! CADJPY - A bit educational post: Do not forget to support my idea post by hitting the "LIKE" button! Thank You! Have a nice day, Cheers! *This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by VaidoVeek
1
Week 11 Trade 2 EU ShortReasons for entry: - 88.6% fib rejection - 1.1310 Minor psychological level - PA is wicking + bearish engulfing - Price is losing moment and beginning to stagnate - 2hr Doji, possible evening star forming on the 2hr Entry Timeframe: - 1hr bearish engulfing (weak) + 2hr Doji - 1.1305 Stop Loss: @1.1319 (-14pips) Take Profit: Target 1 @1.1225 (+80pips) = Risk/Reward : 1:5.9 Target 2 @1.1200 (+105pips) = Risk/Reward : 1:7.8 Target 3 @1.1150 (+155pips) = Risk/Reward : 1:11.5 Notes : - 2nd attempt at shorting this EU trade
Short
by SyndicateFX
Looking to short Boeing $BA for a potential $40 (10%) move.After a parabolic move up, then a breather, and another 10 straight weeks of aggressive gains...I am looking to short Boeing on a pull back from the $420's down to the $380 range. Currently trading at $422. Special tips: - I cite "Irrational Exuberance" as the reason for this short, however... - Remember that "the market can remain irrational longer than you can remain solvent". - In other words, don't bet the family trust on it. A move over $440 can tear the face off of shorts one more time as it did in its last break higher.
NYSE:BAShort
by currencyprinter
NZDCHF - SellHey! This year high is made and from there we got a rejection from: - The trendline since 2017 July (black line) - The round number 0.69000 - The previously worked resistances The rejection ended up with a bearish candlestick pattern called bearish Engulfing! Do not forget to support my idea post by hitting the "LIKE button! Thank You! Have a nice day, Cheers! *This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by VaidoVeek
3
What is a Engulfing Pattern?Trading with the trend is one of the most advantageous things a trader learns to do. Using an engulfing candle day trading strategy is one way to get into trending moves just as momentum is picking up. The engulfing candle trading strategy works best when used in conjunction with a trend. The first step in applying the strategy is to determine the dominant trend direction, and thus the direction we will trade in. An uptrend is defined as higher swing highs and higher swing lows in price. Prices move in waves, advancing, pulling back and then advancing again. In an uptrend the advancing waves are larger than the pullbacks, creating overall progress higher. During an uptrend, only take long positions (buy). A downtrend is defined as lower swing lows and lower swing highs in price. During a downtrend the declining price waves are larger than the pullbacks higher, creating overall progress lower. During a downtrend, only take short positions. - A high probability price action approach for trading bullish and bearish Engulfing patterns is to look for the pattern to appear at important support and resistance levels. - The best place for a stop loss order in an Engulfing trade is beyond the Engulfing pattern extreme. This would mean that if the Engulfing setup is bullish, the Stop Loss order should be placed under the lower candlewick of the engulfing candle. If the Engulfing setup is bearish, then the Stop Loss order should be located above the upper candlewick of the engulfing candle. Wait for a Pullback: Once the trend is established, wait for a pullback. If there is no trend, or it is unclear, don't utilize this strategy. Waiting for a pullback means your getting advantageous pricing for the next wave of the trend, when and if it unfolds. What is the first target?
Education
by FxAzerbaijan
Retracement and Fake out on 4H Timeframe CHFJPYHello traders, this is a simple trend following and Candlestick trading pattern on CHFJPY which works only on the 4H time frame. After a move up, we have a re-tracement and price returns to test a psychological resistance level which is the only resistance levels i use in my trading. Remember this strategy also works very well with diagonal trend lines, it also works in counter trend, but is best suited for trending pairs in the direction of the trend. Make sure you respect risk reward criteria and always have a STOP LOSS on all you trades.
Long
by asangwecho