Evening Star
Evening star pattern, up 25% just in February prior to earningsSHOP has been a beast for along time! It has runup 25% just in February, so be careful for earnings on Feb 17th. The past 3 days show a bearish evening star pattern (not 100% perfect). I calculated the implied move to be 6% or $90 dollars. Options - 1068 in $1500 weekly calls, over 1600 in $1200 weekly puts. If you know how to play iron condor, I think that is best earnings trade o capture premium. They beat last earnings and raised expectations , its going to be hard to repeat, imo. Have a great long wknd!
$GAXY - Daily Candle Possible Evening Star - Good Entry? GAXY has a possible formation of an "Evening Star" doji that signals a reversal after an uptrend. We may see a pull back to test 0.045 or 0.035 support levels. Although the evening start is a bearish chart pattern, I believe the incoming volume and solid momentum will hold the upward channel so I am still bullish on this one and I think this may be a good entry for the following rally back up to retest resistance at 0.06. If we see the daily candle close above 0.063 I am looking for a gap up opening at 0.07 then retrace to test 0.06 support on profit taking. If this happens look for a bit of sideways consolidation further testing the 0.06 support and 0.07 resistance before rallying to test 0.09 resistance.
GBPUSDGbpusd has broken a strong trendline which led to a lower low , it made a retracement price is currrently at the 50% fibbonacci level, on our H1 candlestick there is a formation of an Evening star which suggest Bears taking charge, stoploss slightly above the candlestick formation my 1st Target being @1.36111 2nd Target @1.35595 . Risk 18 pips , Reward 80pips , RRR 1:4
TOP 6 Candlestick PatternsHi,
I would like to share my TOP 6 candlestick patterns, you can also name your TOP 3 in the comment section.
Perfect scenario: identify the strong area, wait for the price coming inside of it, wait for a candlestick pattern which consists of at least two candles and it has to form in at least 1-hour timeframe (lower TF candlestick patterns are poor), wait for a pullback and GO.
Always wait for a small pullback after the candlestick pattern has formed, you will get a better price. It is so rear case that after candlestick pattern formation the price goes immediately into the shown direction.
MORNING STAR
The Morning Star is a bullish bottom reversal pattern. It warns of weakness in a downtrend that could potentially lead to a trend reversal, especially if it forms on a strong support level. The morning star consists of three candlesticks with the middle candlestick forming a star. The first candlestick in the morning star pattern must be a red candlestick with a relatively large real body. The second candlestick is the star, which has a short real body that is separated from the real body of the first candlestick. The star does not need to form below the low of the first candlestick and can exist within the lower shadow of that candlestick. The star is the first indication of weakness as it indicates that the sellers were not able to drive the price close much lower than the close of the previous period.
This weakness is confirmed by the third candlestick, which must be green in color and must close 50% above the body of the first candlestick.
EVENING STAR
The Evening Star is a bearish, top trend reversal pattern that warns of a potential reversal of an uptrend. It is the opposite of the Morning Star and, like the morning star, consists of three candlesticks, with the middle candlestick being a star. The first candlestick in the evening star must be green in color and must have a relatively large real body. The second candlestick is the star, which is a candlestick with a short real body that does not touch the real body of the preceding candlestick. The star can also form within the upper shadow of the first candlestick. The star is the first indication of weakness as it indicates that the buyers were unable to push the price up to close much higher than the close of the previous period. This weakness is confirmed by the candlestick that follows the star.
This candlestick must be a red candlestick and must close 50% above the body of the first candlestick.
BULLISH/BEARISH ENGULFING
The Engulfing candlestick pattern is a two-candle reversal pattern. A reversal pattern can be bearish or bullish, depending on whether it appears at the end of an uptrend (bearish engulfing) or a downtrend (bullish engulfing pattern). The first candle is a small body, followed by the second candle whose body completely engulfs the previous candle body and closes in the opposite direction of the trend.
BULLISH/BEARISH RAILWAY TRACKS
A bearish railway track pattern has the first candlestick bullish and the second candlestick bearish. That fact that there is a sudden change from bullish to bearish candlestick should be a good indication that there might be a bearish trend forming. If you see it inside of the determined strong area the more powerful it is!
Regards,
Vaido
AUDJPYMy bias for AUDJPY has changed after a evening start pattern on the Daily was formed yesterday at resistance. Could see the pair move down from now to past support.
AMZN Pullback Then BreakoutAMZN has finally broken out of the volatility contraction triangle it's been in for what seems like forever! And with some volume as well over the past couple of days.
So now what?
Well, today printed an evening star candle which previously in early November was rejected at this exact level. Maybe the circumstances are different this time with the triangle break, but I'm thinking a brief pullback before breaking resistance at this 3300 level. I see a bounce at the 3215 (looks like recent resistance to find support) off the triangle to overcome it.
Let me know your thoughts!!!
CADJPY should go down next weekSo many reasons to take a short, such as Evening Star on the weekly, price within a significant resistance zone, at the top of a descending channel that has been respected several times.
I am looking for a retracement since that will be a better entry with an improved R/R.
If you like my trade idea, please give it a "thumbs up" and follow me to get immediate notifications.
As always, please use sound money and risk management in all your trades.
If you are trading next week, it would be a good idea to reduce the risk you take.
Happy holidays!!
GOLD --D1 analysis--Explained everything on the chart.
It's D1 time frame analysis and tell us overall trend direction.
In next post i will share lower time frames possibilities.
Follow me to don't miss it.
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This scenario will be invalid if price break the channel to upside.
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If you liked the idea click like and follow to see more upcoming updates.
I'll be glad to know your opinion in the comments.
This is just a bit of financial advice, do your own research too.
GBPJPY SHORTThe asian session has just opened. During the New York session price was able to reach the previous high. After a candle that doesn't have a shadow was formed at the high, a setup was begging to grab my attention. Afterwards there was a doji and a bearish candle afterwards. This is the makeup of the Evening Star pattern. My Bias is that this is a soon to be double top. I will short here and target the bottom Of the zone.
BTC 1W - A potential retrace forming. Let's see what happens?BTC Weekly chart is looking like we're shaping up to retrace short term.
Covid 19? Stock crash? You pick the panic, people will sell at this level and who will buy in the top 10% when we know there's a sell wall @ 20k like nothing else in the crypto world.
I noted an evening star Potentially forming. This weeks candle is very young so don't take this as gospel.
MACD is strong. RSI is oversold and volume has been steady but lacking from the spike.
Beware what may befall the might BTC this week. That said expect a rush of money to alts like we've never seen once BTC chills out a little bit.
If you hodl, you be rich. If you trade, be 200% careful right now. There's a huge wave of volatility that's about to hit the market I feel.
Evening Star ReversalJust something I've noticed here on the 3 Day TF. Pretty scary looking evening Star Reversal, I've circled the last 2 occasions these have occurred, definitely think it's time to favour shorts over longs imo.
BTCUSDEvening star reversal on the weekly in this supply zone, sellers are back in control after this bearish impulse. Price now pulling back for a continuation to the downside. Look to sell the break down..
GBPJPYGBPJPY
Price Showing strong rejection from the resistance zone. We have at 1h chart an Evening start bearish candlestick pattern as a confirmation. (this is not the 1H chart ) 📉
AUDUSD 15mTrade No. #04
''SELL MARKET ORDER''
Reasons for entering:
bearish deep crab/butterfly
bearish divergence
evening star/abandoned baby
Target: 0.733
Stop: 0.737
XAUUSD 15mTrade No. #02
''SELL MARKET ORDER''
Reasons for entering:
bearish bat
gravestone doji
evening star
Target: XAD
GOLD BEARISH TREND, END OF THE RETRACEMENT WITH EVENING STAR ?!As you can see easily we expect from gold to go for new lows,
reject from important resistance with crazy EVENING STAR PATTERN, which is one the best reversal trend patterns in candel stick analysis,
time frame : 2H
stop loss : proteced by
1. lvl 50 fibonachi retracement
2. important supply area
3. important bearish candel stick pattern
4. important 20 EMA for gold in this downtrend
tp1: 1846
tp2 : 1818
STRONG DAILY EVENING STAR IN EUR/USD, real or fake ?As you can see in EURO/USD there is a very strong daily candelstick pattern which you know it as a EVENING STAR!
What is an EVENING STAR? An Evening Star is a stock-price chart pattern used by technical analysts to detect when a trend is about to reverse. It is a BEARISH! candlestick pattern consisting of three candles: a large white candlestick, a small-bodied candle, and a red candle.
so clearly we have a fight between bulls and bears in euro/usd :
Fundamental view: as you know euro has very strong bullish fundamental news rather than US and the factors effecting on USDOLLAR during opening economics after pandemic , not very intresting for SELLERS !
so now what is my idea ? im searching for short-term intraday in euro/usd because its too soon to tell you about changing the trend in euro/usd.
I expect to see euro/usd bulls at first hours of next day trying to raise the price somewhere between 1.1820 - 1.1850, then bears come and use good sell situation and price falls 1.1720-1.1700.
important demand area for euro/usd bulls : 1.1720-1.1700
