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Pin Bar

AAPL - Will support @ 128 hold?AAPL had been the most resilient among the FAANG stocks despite being in a volatile and toppish pattern for months. However it started to break below major neckline support @ 134 on 19th Dec and then an attempt to break the horizontal support @ 128. It managed to close the month with a weekly bullish pin bar above 128 and a potential bullish divergance is also forming between price and RSI on the weekly chart. Hence a near term bounce could happen but any bounce right now is best viewed with a grain of salt until we can see change in the chart structure Any close below 128 is potential for the bear trend to continue towards 110-115. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:AAPL
by Juliac
2
GUIDE TO JAPANESE CANDLESHello everyone! Today we will discuss JAPANESE CANDLES! Let's try to understand what they mean and how to use this information in your trading. LET'S GO! Bullish and Bearish PIN BAR A bullish pin bar is a candle with a long shadow, the body of which is located at the top of the candle. Such a candle was formed under the pressure of sellers who were able to push the price down, after which buyers turned on, who pushed the price above the opening and were able to gain a foothold there. This strength of buyers signals to us that sellers are losing dominance in the market and a trend reversal is possible soon. A bearish pin bar has a mirror structure relative to a bullish pin bar. Buyers can't keep the price high, and sellers take up the trend. At these points, we can expect the early completion of the previous impulse and a possible trend change. Bullish and bearish harami Bullish harami consists of two candles: the first is a long full-bodied candle, the second is small with a small body. After a strong downward impulse (the first candle), a sharp reversal begins (the second candle). At the same time, the second candle often opens with a gep. The momentum of the first candle is the last spurt of the market, after which buyers take over the market. The gap in the opening of the second candle and the closing of the first confirms the strength of buyers. Bear harami has a similar structure, but a mirror movement. The last impulse of buyers, was replaced by the gep of sellers. This sign indicates a possible reversal. Bottom and top tweezers These Japanese candles are characterized by two long full-bodied candles. After the first strong impulse, there is a sharp reversal in the opposite direction. This reversal has a huge force, as it is able not only to turn the price against the main trend, but will immediately gain a foothold low. This figure is called tweezers, as the price pierces the level and abruptly returns back. A very strong signal for a reversal. Conclusion These patterns are very popular and useful. The ability to use them correctly in trading can bring significant profits. These patterns help to determine the price reversal, which contributes to a better entry into the position. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
OANDA:XAUUSDEducation
by Lingrid
12
Trade Ascending Parallel Channel With 3 Points + Pivot PointTrade Ascending Parallel Channel With 3 Points + Pivot Point Indicator Connect your three points using the parallel channel. First, connect two points which are your higher lows. Next, connect the third point which is the swing high. The swing high is the higher high. In this example, a pin bar formed at the higher low. Pin Bar wick touches pivot point level and channel support level. Volume Indicator is "green" and pin bar is "white." Conditions are great to enter the market at pin bar closing price.
Education
by TradeLive-
GOOG - Tide could be turningGOOG's monthly chart formed a bullish divergence and closed with a bullish "pin bar" in November. We are likely to see more upside momentum for this month, although it could pause and consolidate when it hits the near term horizontal resistence around 104-105, then may (or may not) dip back towards 93 (recently pivot low), before eventually breaking higher. Immediately support is currently at 93. Turn cautious if it dips below here. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:GOOGLong
by Juliac
1
A reversal on the cards for the NZDUSD?Overnight, the NZDUSD continued with the uptrend to climb steadily toward the key resistance level of 0.5950. With no major news events today, look for the development of price action at this resistance level to signal the next directional bias. A brief reversal back down toward the 0.5850 price level could be required before further upside. Alternatively, look for the NZDUSD to break above 0.5960 to signal a continuation of the uptrend, with the next key resistance level at 0.6080.
Short
by JinDao_Tai
1
MSFT- found intermediate supportMSFT gapped down into intermediate support @ 220 today (after another round of "bad" CPI report that spooked the markets) but immediately reversed to form a bullish engulfing candle on the daily chart (and a potential pin bar on weekly chart). Bullish divergence can be seen on both the weekly and daily charts which gave more conviction to this current support @ 220 (medium term resistence turned support) Granted that a bounce from an bullish divergence can be just a short term counter trend (in a bear market), this support at 220 is still significant unless it is breached to the downside. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:MSFT
by Juliac
Topglove. JP Morgan’s TP May “failed” this time. 1/Oct/22Topglove. JP Morgan’s Projection of RM0.45 probably “failed” this time. As other 3 major player already posing a bullish reversal setup based on Elliott wave and cycle. Just waiting for “confirmation” signal. Topglove price has just broken RM0.605 a “confirmation signal “ +++ Price of weekly Topglove, kossan and monthly Harta has formed a hammer candle/ pin bar bullish pattern possible market “price in” A.S.P ( Average Selling Price) increment lead by Topglove as “catalyst” of the beginning of long term bull trend after long term “correction “ since August/Oct 2020..
MYX:TOPGLOV
by SteveTan
SPY - Short term bullish - Quick TradeHello Friends, AMEX:SPY has shed a lot of value in a week but there seems to be some good news if you're looking for a very short term bullish trade. We will have to understand supply/demand levels on multiple time frames. In a daily TF, Price opened gap down, approached a daily/weekly demand zone and closed within top 33.3% of a candle range(Bullish Pin bar candlestick). Bullish pin bar with a good volume suggests the presence of demand. There's a gap to be filled. So our first target is at the upper bound of a gap around 373.44. I like to use anchored VWAP as a dynamic support/resistance and also as an additional confirmation for the target. In a downtrend, I drop anchored VWAP from a recent swing high to find dynamic resistance level which is currently at 386. There's a visible supply zone between 381 and 390. So if price is able to breach our first target then the next safe target would be at 381. Target levels are marked on the chart below. Zooming into 45 minutes TF, it is visible that before price opened gap down, there was a supply zone forming. Our first target is actually a lower bound of a supply zone. Additionally, a bullish RSI divergence is also visible which is an additional confirmation for price reversal. Similar confirmations are found in 15 minutes TF as well. Remember, Overall market is still bearish so you have to be very nimble while trading against the trend. A good trader always find opportunity in any market conditions! Do you agree with my analysis? Please let me know your thoughts by commenting below and follow me for more such ideas. Happy and safe trading! :)
AMEX:SPYLong
by PriceActionTrader1
4
SPX - bullish divergence (short term bounce next? )SPX closed with a small pin bar on huge volume last Friday, coupled with a potential bullish divergence between price and RSI (daily chart), it Looks like we can expect yet another bounce soon. However, divergence usually result in a short term reversal (lasting 2 or several candles) and may not translate into a longer term trend reversal. The last 3 weekly candles of SPX has formed a broadening "pennant", a pattern that signify a market that has been highly volatile with little to show in direction in the last 3 weeks. So while we may expect some bounce next, it is probably just more whip saws in the near term, especially when most of the market leaders (mostly the MAANGT stocks are still weak (except perhaps NFLX and TSLA) aren't showing signs of having bottomed yet. While there may be some stocks that have started to break up from base formations, only a handful are able to successfully trend up without too much volatility. Let's wait for S&P be able to rise above the longer term resistence line (red) eventually, then perhaps we will have a more sustainable market recovery. Meanwhile, stay safe. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
SP:SPX
by Juliac
20
SPX and NQ - short term bounce comingAfter retracing 61.8% of the recent AB up swing (that lasted 2 months from 17 June to 16 Aug), the market finally seem to be finding support yesterday, forming a bullish pin bar and a potential bullish divergence between price and stochastics. However note that a bullish divergence usually signify a SHORT TERM trend reversal (lasting only several candles) and may not translate into a longer term trend reversal. There is a chance we could be in a whipsaw market for a while more. Need to be nimble still until we see a clearer picture. Stay safe. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
TVC:NDQ
by Juliac