Engulfingpattern
Garmin Shorting OpportunityGRMN
Price Bouncing from 61.8% FIB and Daily Resistance with Engulfing pattern.
XAGUSD - Bearish EngulfingXAGUSD (SILVER) has formed a bearish engulfing pattern on the daily time frame.
Price broke strongly out of the upper Bollinger Band after making a fake breakout above the triangle.
Stop loss set above recent highs, take profit set at strong support.
Very similar setup to XAUUSD as XAGUSD are highly correlated to each other.
XAUUSD - Bearish EngulfingXAUUSD (GOLD) has formed a significant bearish engulfing pattern on the daily time frame. Price has now pulled back to allow a very low risk, high reward entry.
There is a very strong Bollinger Band squeeze which indicates that high volatility could come soon. Price appeared to make a fake break-out above the triangle.
A significant bearish engulfing candlestick, a very strong upper Bollinger Band out-break, and RSI divergence confirm this short trade setup.
A move down will confirm the start of a bearish impulse wave 3 due to the previous down-trend. Thin red lines are resistance levels, thicker red lines are support levels.
SL set above previous highs. TP set at strong support. 1:9 risk to reward ratio.
GBPCHF - Bearish EngulfingGBPCHF has formed a bearish engulfing pattern on the daily time frame.
This short setup is confirmed with a strong upper Bollinger Band outbreak, a significant bearish engulfing pattern, and RSI divergence.
SL set above previous highs.
TP set slightly above strong support.
I will close this trade upon the first opposing significant bullish engulfing pattern.
Website: EngulfingPatterns.com
Weekly bearish engulfing with divergenceI'm short TSLA based on weekly pinbar followed by bearish engulfing at support that broke trough 23,6 fib level. Also have MACD divergence. This can indicate a short term trend change to the downside.
