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Inverted Hammer

MULTI-TIMEFRAME ANALYSIS - GBPUSDGBPUSD recently broke out of its 1D descending parallel channel, which seems to be a bullish flag, it then re-tested the channel thrice with the last 1D candle closing as a bullish spinning top. 1D Analysis The Friday candle closed as a bullish spinning top after its retest of the 1D descending parallel channel, this could be a possible indication for a reversal to the sell trend prior to the bullish spinning top. A successful bullish spinning top might create a possibility where the pair heads to re-test the 1D disjoint channel resistance as it did prior to it starting the sell trend. This would however require the 1D candle to close above the support turned resistance of the disjoint channel as it closed on the support when retesting the descending parallel channel. 4H Analysis The pair closed its last 4H candle as a doji after testing the support zone it had trouble breaking below. This might be the indication that the pair is uncertain about breaking below the zone. The pair can be seen within another descending channel on the 4H timeframe. A break below the support zone could lead to a further sell-off on the pair, but for the 1D bullish spinning top to be valid it would need to break the zone of its last lower high. 1H Analysis The pair closed its last 1H candle as an inverted hammer which might be another indication to confirm the 1D bullish spinning top, but the previous candle closed as a bearish spinning top which indicates that the pair might drop. The possibilities are that the bearish spinning top might be to drop the pair towards the support zone where it might be able to gain some momentum before rallying all the way back up, or it might just break below the support zone and continue with its sell-off. Another possibility might be that the inverted hammer invalidates the bearish spinning top and the pair breaks the resistance zone then gaining momentum to carry on with a rally. Conclusion Monitor the pair on the 1H timeframe to see exactly what the pair does and how it coincides with the 4H and 1D in order to make an accurate trading decision. If you liked this analysis make sure to give us a thumbs up, leave us a comment and make sure to follow us for future ideas 👍❤
by JJForexAcademy
2
GBPNZD 15M US SESSION SCALP SHORT TRADETradingstrategyguides EDUCATION GBPNZD 15M US SESSION SHORT SCALP 56 PIPS British Pound / New Zealand Dollar (FX:GBPNZD) Tradingstrategyguides Trend Analysis Chart Patterns Technical Indicators mpattern Inverted Hammer swinghigh pinhammer stophunt engulfment fibarclevels tradingstrategyguides 15m 1st Chart 7 AM EDT - Bearish Reversal M Pattern developed - Trade Bias Short 2nd Chart 6:45 am EDT - Inverted Bearish Green Body Hammer created swing high 7 am EDT - 2nd candle is a High Bull candle. High Bull candle is highest green candle body that closed. We are going to use the bearish wick low of the High Bull Candle as the level for the engulfment breakout to take place. 1st engulfment is the 7:15 am candle body engulfs the 7am candle. The breakout 2nd engulfment candle is the 7:45 am candle. 7:45 am EDT candle is a Pin Hammer candlestick . The bullish wick of this candle is a stop hunt into the high of the inverted Bullish Hammer . This is a stop hunt for those traders who entered a short trade from the inverted hammer entry bullish signal to hit their breakeven stop level. 7:45 am EDT - ENTRY - Short Stop Order made at High Bull candles low @1.9115 . Stop Loss above inverted hammer's high. Take Profit found using the Fib arc indicator adjusting levels every 100% up 600% level for Take Profit levels. Measured Move levels are calculated from a fib arc indicator
Education
by Tradingstrategyguides
3
Inverted hammer on 8 buy setup ICX about to go up?ICX looking to go bullish? Now on a 8 of a buy setup according to td sequential and at a Intersection. 8 candle looking like a inverted hammer will have to see how the day ends. Looking to enter a possible long trade depends on how many confirmations one would like. Personally i am waiting to see of we can get to a prefected 9 on buy setup. Hopefully volume will start to pick up! Looking at taking some profits at 4400 sats and 5500 sats and possibly hight. Will have to see how bitcoin behaves over the next 10 or so days.
Long
by AtomTanNZ
BTC Thoughts Thru September (Novice Analysis)Potential Bull Flag waiting to play out on the BTC CME Futures Expecting overall decline in volume to continue until bottom of flag is tapped again and the CME Gap (green circle) is filled 1M candle printing out an attractive inverted hammer for August to add conviction to my bullish bias This implies we continue upward after filling the gap and buyers overtake sellers in this last beauteous opportunity to buy BTC under $10k before attacking ATH
CME:BTC1!
by Hrempe
BTC 1 hr (signs of a dip were clear) 8/6/2019Looking at the hourly to see if the dip was predictable and the writing was on the wall with this dip. We had a shooting star followed by 2 inverted hammers. All bearish when at the top of an uptrend like the one we were in. If you can see things like this before the dip (I missed them til just now but my stop loss saved me) You can understand that a dip was likely in the cards after the 3 bearish candles. This is why switching between time frames is important.
by UnknownUnicorn4304403
8