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Shooting Star

SPX: Another RECORD HIGH! But, what if it starts dropping?Hello traders and investors! Let’s see how the SPX is doing today! The index is going up nicely, but the candlestick in the daily chart looks enigmatic, as it is almost a Doji. The long shadow above the daily candlestick is annoying for sure, and kind of ruins the bullish momentum. Since October 13, it seems the index deserves a pullback to the 21 ema again, at least, but we don’t see any meaningful weakness sign. Even if it closes doing a Doji, a Shooting Star, or a possible Spinning Top candlestick pattern, we be aware of the fact that the trend is clearly bullish in the 1h chart too: As long as we don’t see any bearish confirmation here, and a sequence of lower highs/lows, the index won’t reverse in the daily chart. The 21 ema is pointing up, and it is working as a nice support as well. This makes me wonder if a bearish candlestick pattern in the daily would be another bear trap – just a pullback to the 21 ema in the 1h chart. That’s why I prefer to use the 1h chart as a main guide for now. If it drops, ok, we have many support levels to work with, and probably the 21 ema in the daily chart will be our best indicator for now. As some of you have been pointing out, a pullback would be great, and many other stocks would probably give us buy signs. Now I think it is the time to just hold some positions, instead of buying like crazy, and wait for more signs on the index. If you liked this analysis, remember to follow me to keep in touch with my daily updates on stocks and indices. What’s more, support this idea if you liked it! Have a good day.
SP:SPX
by Nathan_The_Finance_Hydra
9
BTCUSD - W1 - SHOOTING STAR - WARNING !Today we are going to look at different times frame from the medium to the short term (W1 - D1 - H4 - H1) W1 : Last weekly price action, triggered on a closing basis a "shooting star" which means a warning signal for a potential trend reversal Indeed, such kind of pattern should be considered as a negative point as this type of candlestick is formed when a "security" opened, advanced significantly, but then closed the period near the open level again. As mentioned, in my previous analysis (see related idea below), 2 scenarios could be seen and this week price action will tell us which one will take place... For the time being, low seen has been 59'505 D1 : The support trend line of the ongoing uptrend channel has been tested with an intraday low reached yesterday @ 59'505 Currently still above MBB @ 59'221 but below TS @ 62'965 On this D1 time frame I would suggest to look at 2 important levels, which are the following : UPSIDE : 63'000 DOWNSIDE : 59'000 A breakout of one of those 2 levels should trigger +/- a 3'000 points move, targeting respectively 66'000 (former highest D1 closing level on the upside and 56'000 on the downside (38.2% Fib ret) H4 : Clouds bottom, for the time being worked perfectly well as a support... Nevertheless, the ongoing recovery has nearly reached the 38.2% Fib ret (@ 62'365) of the last downside correction (66'994-59'505) , high seen so far 62'223 Looks like a lack of momentum ! Watch ongoing price action over the next coming hours. H1 : Clouds resistance broken... BUT !!! As mentioned on H4 analysis, the 38.2% Fib ret @ 62'365 has nearly been filled and do not forget, we are in a corrective price action move in a new bearish trend; therefore, you should watch carefully also at the price action seen over the coming hour (s) to detect early signal of a reversal. Watch the clouds which after having been a resistance area, becomes now as the new support zone (61'750-61'000) Interesting to note that the bottom of the clouds, roughly coincides with the cluster of MBB and TS !!! CONCLUSION :(ON SHORT TERM, INTRADAY BASIS) A FAILURE TO HOLD ON H1 ABOVE TS, CURRENTLY @ 61'400 SHOULD BE SEEN AS THE FIRST WARNING SIGNAL FOR FURTHER DOWNSIDE WHICH WOULD BE CONFIRMED BY A FAILURE TO HOLD AND STAY SUSTAINABLY ABOVE THE BOTTOM OF THE CLOUDS & CLUSTER (61'000-60'800) Have a nice week and all the best Ironman8848
GEMINI:BTCUSD
by Ironman8848
2
BTCUSD - W1- WATCH ONGOING CLOSING !Today we are going to look at the weekly picture ! My expected upside target (68'000) has unfortunately not been reached, the highest level seen so far was 66'894. Potential double top formation in progress. In addition, the ongoing weekly closing and the shape of its candle will be very important for the future !!! Indeed, currently, the current price action is showing a "doji" (shooting star !!) is in progress and a confirmation given on a weekly closing would be the first warning signal for a potential trend reversal. IMPLICATIONS (2 scenarios) : 1) BULLISH : Small consolidation towards 58'000. then sideways price action between 58'000 and 67'000 then upside breakout for higher levels (projection towards 85'000 area) 2) BEARISH : Failure to sustainably hold above 60'000/58'000 and then downtrend (higher lows) towards firstly 56'525, 53'300 and the psychological 50'000 area, which roughly coincides with the primary weekly support trend line and which is also, by the way the current level of MBB !!! For indication, the 38.2% Fib ret of the 28'600-66'994 rally is at 52327 while the 50% is at 47'797 CONCLUSION : As usual, watch Daily picture and intraday time frames to get intermediate clues which will help you to validate or invalidate the scenarios above developped. On D1, the support on the ongoing upside channel is under attack and current level is under TS; a failure to hold above MBB, currently @ 58'720 would also be, on this time frame a first warning signal, calling for potential downside. On H4, currently inside the clouds support area, bottom zone being currently around 59'000 On H1, Currently below the clouds for a while in an ongoing downtrend price action; a move above 62'000/63'500 (above the clouds) would temporary neutralise the ongoing selling pressure. Do you like my analysis ? If yes, please, do not forget : 1) To like it 2) To add Ironman8848 on your following list (it it is not done yet :-) Have a nice Sunday and take care. All the best Ironman8848
GEMINI:BTCUSD
by Ironman8848
SPX: Pullback ahead? Maybe. Let's see.Hello traders and investors! Let’s see how the SPX is doing today! The index is doing amazingly well, and we see a clear continuation of the bull trend, as it can’t do any bearish structure. It didn’t trigger any pullback sign, and we are heading to the ATH. Now that we are close to the resistance at the ATH, we could see a pullback, but again, we don’t see any confirmation of a pullback yet. In fact, it has been more than a week now that the index didn’t even touch the 21 ema in the 1h chart, and this tells us that it is extremely bullish. If it drops to its 21 ema, I would consider it just a harmless pullback. However, I agree that we could drop more, considering the daily chart: If it confirms a Shooting Star candlestick pattern, we could drop to our support levels again. The first support is at 4,465, and if it doesn’t hold the index, the 21 ema is another good support candidate. We are quite far from it, but a pullback wouldn’t ruin the mid/long-term bullish bias. To be honest, I think we could use a pullback here. Let’s see how it’ll play in the next days, and if you liked this analysis, remember to follow me to keep in touch with my daily updates on stocks and indices. Have a good day.
SP:SPX
by Nathan_The_Finance_Hydra
8
NIO: Target hit and Gap filled! What's next?Hello traders and investors! Let's see how NIO is doing today! It did exactly what we expected in our previous analysis, last week, and it hit our target. I explained the technical reasons that made me believe we would seek the gap at $ 40.59 in my previous analysis; the link to it is below, as usual. Now that we hit our target, NIO did what seems to be a Shooting Star candlestick pattern in the 1h chart, and this is a weakness sign. That’s ok, since we are in a bull trend, pullbacks are expected, and now is the best place for NIO to start a correction. As long as we don’t see a bearish structure, NIO will probably be fine. Now, let’s see the daily chart: In the daily chart, it feels like NIO deserves a pullback to the 21 ema again, and that would be just another opportunity to buy. Since it triggered the pivot point at $ 39.63, it has been doing very well, but nothing goes up in a straight line forever. Let’s see if NIO will confirm a top near this gap area. If you liked this analysis, remember to follow me to keep in touch with my daily updates on indices and stocks. Have a good day!
NYSE:NIO
by Nathan_The_Finance_Hydra
7
BTCUSD -H1_ 60'000 FILLED ... POTENTIAL REVERSAL !!!Today, we are going to look carefully at the price action seen on the hourly chart which is showing that the BTCUSD has briefly reached the important psychological resistance level of 60'000. More important is to analyse the recent and current price action !!! Indeed, the top of the ongoing uptrend channel has once again been briefly broken on the upside, which trigger a first warning reversal signal shooting star -doji ! Therefore, price action over the coming hours will be crucial for the short term future. Indeed, a failure to clearly break and hold above 60'000 would add further selling pressure, calling for further downside towards 58'500 first (cluster support) ahead of 58'000 (MBB) and leading indicator. UPSIDE : The highest weekly closing level seen so far is 59'980 which corroborate perfectly my analysis which tell me that a weekly closing level above 60'000 would be very positive and would confirm further upside towards previous ATH over the coming week. Do you like my analysis ? Please do not forget to like it and to follow me as well. "Alone you go faster and together we go further" :-) Have a nice day and all the best Take care Ironman8848
GEMINI:BTCUSDShort
by Ironman8848
AMD ---- Shootng Star, Falling Gap & Upper Cross - Two Shooting Star candlestick patterns appear on Sep 13 and Sep 15. A shooting star denotes price drop is on the way, but need a confirmation that appeared on Sep 17 in this case. When Shooting Star emerge on top of the wave meaning possible price reversal, but if in the mid of the wave the fall is likely to continue but rather stop sooner. - The Upper Cross on Sep 20 following a Falling Gap near the support at $102. Upper Cross actually is a variant of the Long Leg Star, but the opening and closing prices are on a higher level. Even though it denotes the calming of a market situation, it still clings towards an upward no matter whether on top or bottom of a wave.
NASDAQ:AMD
by stalfin
Daily shooting star reversal candle + bearish engulfing (BTC) Hello traders, Daily timeframe analysis: bearish confluence ✓ 1) shooting star reversal candle. 2) bearish engulfing candle on the following candle which confirms the initial reversal candle. 3) top of the rising wedge. September is probably going to be red, as it aligns with the rising wedge and recent price action with the candle stick patterns. Stay safe, and feel free to comment if you have any further questions or comments, also please like this post as it means a lot and shows support to my page. 👍
BITFINEX:BTCUSDShort
by YurloTrades
9
TATACONSUM - price analysisTATACONSUM is in a narrow ttm squeeze and has a increasing momentum. It indicates that we could see a big move sometime soon. There could be two possible plays. A) it will breakout from the current level B) it will respect the resistance level and price will get rejected from here and will go back to 750 level support. If it gets rejected from the support level, then it will come back up stronger and break the 780-785 resistance level and break out. I am more inclined towards B, because it's making shooting star candle at the resistance level which indicates price reversal. If august 9th candle closes lower, then price reversal will be confirmed. If it breaks out of the resistance, it will confirm play A.
NSE:TATACONSUMLong
by PriceActionTrader1
3
A drop to $ 37 is more likelyThe best case for a high-priced pump is to rest or just put the price in a range that can be seen in the chart and has a resistance above $ 40, which I think is a cp move, and I expect the uptrend to continue, as well as if the pattern continues. We are a flag whose target is the size of a flagpole, and it is possible that this movement will continue until the end of the week, and in the meantime, it can fluctuate in the range of $ 35 to $ 50. I am waiting for a more appropriate signal from the price chart and all the points are up to the hypothesis and can not be predicted at the moment.
Short
by AmirAli4bdi
1
Bitcoin Analyze (Short Term/Timeframe 30min)!!!hi everyone, could you take profits these days from the market? I hope that your answers === yes✅ I tried to explain all information about Bitcoin's way in my Previous post, Please read this post 👉 Bitcoin Analyze (BTCUSDT) Timeframe 30min ⏰ We saw Fake Break (31620$ until 30960$ (Support + Cluster of Fibs+ the lower line of Descending Triangle ) == Heavy & important Support) yesterday and some of the traders took profits from that break (although, it was risky). I was able to find 🦈 Bearish Shark Pattern🦈while Point D of this pattern is on our Resistance Zone + TRZ (Time Reversal Zone⏰)+ Timeframe 1h we can see Shooting Star💫(bearish candlestick patterns) pattern on TRZ In addition, the price is near The upper line of Descending Triangle==Resistane Line + our Bearish 5-0 Pattern can work around the current price (See my previous post). Also, Price is reacting to EMA12 Ascending Trend of RSI has broken 👉https://www.tradingview.com/x/kp1IdkqI/ We can see End of movement (Uptrend) at Stochastic.👉https://www.tradingview.com/x/gdQtTCK2/ We have Divergence (RD-) between Price and MACD until NOW❗️👉https://www.tradingview.com/x/zmK955vc/ I am deciding to share Bitcoin Long-term Analyze (Monthly Time frame)📆 on each post that I will publish about Bitcoin: Please read this post carefully ( I LOVE THIS POST😀)👉https://www.tradingview.com/chart/BTCUSDT/PTviG7sS-Bitcoin-Long-term-Analyze-Monthly-Time-frame/ My Suggestion: We can wait for breaking(Trusty) EMA12 (to DOWN ). Take profits for Short Positions : Take Profit 1: Around 33411$ (Daily Pivot Point) Take Profit 2: Around 32800$ (Support Zone + Point A of Bearish Shark Pattern) Take Profit 3: 32180$ until 31680$ (Weekly Support 1 +Daily Support 1 + Point C of Bearish Shark Pattern) Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy , this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅ 'like '✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe.
Short
by pejman_zwin
16
PLTR: Should we panic now?Hello traders and investors! Let’s see how PLTR is doing today! First, it lost the ascending channel’s low that we mentioned last week, and this tells us that the bullish momentum is getting weaker. Doesn’t mean a reversal, neither that we are seeing a pullback, but that PLTR is resting. In this case, we are having a Time Correction (when the price keeps moving sideways, as it can’t drop, but it can’t keep going up either). This scenario is quite realistic and it is a reasonable movement for PLTR right now. The $ 25.23 is a key point for us, and maybe we can draw a purple trendline that could help us in the future, if PLTR drops more. We have the idea of an Ascending Triangle here, but in the daily chart we have a Shooting Star just under its resistance, and this is not good. PLTR must deny this pattern quickly in order to not lose to the bearish pattern. However, this wouldn’t be a reason to panic, as a pullback to the 21 ema would be acceptable, and wouldn’t ruin the bullish trend. My followers bought PLTR with me about a month ago, and I see no reason to panic, chart-wise or regarding the company’s fundamentals. If you liked this idea, remember to follow me to get more updates on PLTR and other stocks! Thank you very much!
P
by Nathan_The_Finance_Hydra
4
Short idea on GU after break of hourly structureYesterdays candle closed as a very promoting SS (shooting star), this was seen after a convincing move higher towards a slight daily level. This SS gives me confidence that price will reverse and go down to the untested level on the daily (5th April). We can see that if price comes back to the level now without a move lower we will have 61.8Fib confluence (very strong confluence). We will also have out 50EMA hovering around that area. We have out stop just above the high of the impulsive move down. Nobig news to come out today on either currency so we don't have to worry about watching out for that. If we get in I will close out at 4PM as it is Friday and I don't hold over the weekend.
Short
by Ethan_FX
Shooting Star + Hanging Man & Hidden Bearish DivergenceCurrent $BTC price is over-extended and waiting for a correction/reversal really strongly. I'm showing this in 4 hour chart but you can find the same candle patterns(hanging man) in 6, 8 and 12 hour time frames as well. But at 4 hour chart we have 2 hanging man candles followed by a shooting star, now all you have to do is to check if the next candle is going to close below the body of this last one. I think it will because there're 10 hidden divergences formed right at this candle indicating that the price is not compatible with these 10 different indicators. If all of these play out I expect a retrace back to $52500 So check out this next candle(current one just opened) and take your position accordingly.
BITFINEX:BTCUSDShort
by Kryptolinks
Bearish Pressure Mounting on the EURUSDThe EURUSD is currently consolidating between the 20-day MA (in red) and the 50-day MA (in green) while bearish pressure increases. The currently emerging Triangle represents a classic trend continuation pattern; however, unless the price manages to break out above the Triangle's upper boundary, it could turn into a reversal pattern. A new bearish correction could target one of the two Fibonacci retracement levels. The Shooting Star candle at the top supports these expectations for a reversal.
by Trendsharks