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Candlestickpattern

TSLA: Turning Bullish Again.• TSLA stock looks impressive, as it is doing an important reaction today, trying to reject the Hanging Man candlestick pattern from Monday; • In theory a Hanging Man pattern is a famous top signal, however, evidence suggests that this pattern acts as a bullish continuation roughly 59% of the time (BULKOWSKI, Thomas. Encyclopedia of Candlestick Patterns, p. 365); • Now, TSLA is trying to resume the bullish momentum. To reject any possible top signal, it is important to see it breaking Monday’s high as soon as possible - otherwise, it might lose momentum; • What’s more, it seems it is heading to its next technical target, the open gap at $177. • The weekly chart suggests a bounce to higher levels, maybe to the purple trend line again; • This thesis will be valid as long as the daily chart maintains its bullish bias, and keeps above its 21 ema; I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
2
SPX: Many Powerful Patterns | Complete Trend Analysis.• The SPX did a Double Bottom chart pattern, just above the 4,048 support area, indicating that it is poised to seek higher levels from here; • The trend is still bullish, and only if it performs a clear lower high/low we would see this changing – meaning, if the index is about to reverse, the confirmation will come if it loses the 4,048; • For now, it appears it is seeking the next resistance at 4,195. There’s no bearish reversal structure or top signal indicating that it would frustrate this bullish momentum yet. • In the weekly chart, it seems the index is inside an Ascending Triangle chart pattern. By breaking the 4,195 (the next technical resistance seen in the daily chart), the index will trigger a powerful bullish reversal pattern; • The previous 2 candlestick patterns are Hammers, with long shadows under their bodies, which reinforces the bullish sentiment; • Again, the index would have to lose the 4,048 in order to frustrate this sentiment. So far, it is still a bull trend. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
SP:SPX
by Nathan_The_Finance_Hydra
The Reason Behind My Strong Inclination to Buy AUDCADIf you have been keeping up with my previous analysis, you would have known that my strong interest in buying the AUDCAD is not a crazy obsession, but a well-informed decision based on market trends and patterns. In fact, if you had engaged in the trade last week, you could have earned a substantial amount of profit, up to 139pips or approximately 1,390 USD per lot . This week, the market will be testing the 5-0 pattern on the 1-hourly chart for the first time, which could potentially provide another opportunity to hop on this bullish trend. By identifying the right confirmation pattern, you could take advantage of the Bullish 5-0 Pattern on the weekly chart and not miss out on this trade once again. Don't underestimate the power of staying informed and being prepared to make strategic moves in the market.
Long
by RaynLim
4
Bullish, Planning to Buy & HoldDespite being within the sell zone on the weekly chart, there has been a clear break and close above the previous structure. This has led me to adopt a bullish stance on the mid to long-term outlook and I'm currently waiting for a buying opportunity on the 1-hourly chart. The buying opportunity may arise either at the trendline, if the candle touches it but doesn't break and close below it, or at the support level of 1.2556, which could provide another potential entry point for a long position. Stay alert for these potential opportunities to capitalize on the market's movement.
Long
by RaynLim
Selling Climax Pattern!The candlestick signs a weak demand. Hence, a downtrend pattern emerged where the price closed below the S1 line due to a price being pushed down by a strong Bearish pressure. A strong counterattack of Bullish pressure is required to break the decline. As a result, when "Smart Money" is in need to break a strong decline, they have to put a lot of buying pressure and strong volume surge. MACD and RSI confirm the price downtrend pattern. The S2 line will be the next low price if the price steadily declines due to weak demand from the buyer. Let's save LCTITAN in WL for the possibility of a reversal up signal could be expected. S1 1.25, S2 1.10, S3 1.00
MYX:LCTITANShort
by eskopitehmilo
NVDA: 2 Top Signals Under a Powerful Resistance - What's Next?• NVDA finally hit its long-term target this week, the 289 resistance, which I mentioned in my previous public analysis (the link to it is below this post, as usual); • It has been correcting since then, as it did a top signal just under our 289 resistance (Bearish Harami). However, the trend is still bullish, as NVDA is still doing higher highs/lows and it is still above the 21 ema; • Despite this correction, there’s no clear technical bearish reversal pattern around; • The 21 ema is supposed to act as a support now, but if it doesn’t, the main support line is the 262 – only by losing this line NVDA might reverse the mid-term trend and trigger a sharper pullback in the weekly chart. • In the weekly chart we see that the candlestick is quite bearish – so far, it is a Shooting Star, and it appeared right under the 289 resistance (green line), another top signal, if it closes this week looking like this; • If NVDA loses its key support level in the daily chart, a sharper correction in the weekly chart is plausible, and the 21 ema would be our next target; • Even a correction to the 21 ema wouldn’t ruin the long-term bullish bias, however, it would frustrate the bull trend in the daily chart; • For now, let’s pay attention to how NVDA is going to react now that it is close to the 21 ema in the daily chart. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
3
Learn the Strongest Reversal Candlestick Patterns Hey traders, In this educational article, we will discuss powerful reversal candlestick patterns that every trader must know. Bullish Engulfing Candle Bullish engulfing candle is one of my favorite ones. It usually indicates the initiation of a bullish movement after a strong bearish wave. The main element of this pattern is a relatively big body. Being bigger than the entire range of the previous (bearish) candle, it should completely "engulf" that. Such a formation indicates the strength of the buyers and their willingness to push the price higher. Bearish Engulfing Candle The main element of this pattern is a relatively big body that is bigger than the entire range of the previous (bullish) candle. Such a formation indicates the strength of the sellers and their willingness to push the price lower. ________________________ Bullish Inside Bar Inside bar formation is a classic indecision pattern. It usually forms after a strong bullish/bearish impulse and signifies a consolidation. The pattern consists of 2 main elements: mother's bar - a relatively strong bullish or bearish candle, inside bars - the following candles that a trading within the range of the mother's bar. The breakout of the range of the mother's bar may quite accurately confirm the reversal. A bullish breakout of its range and a candle close above that usually initiates a strong bullish movement. Bearish Inside Bar A bearish breakout of the range of the mother's bar and a candle close below that usually initiates a strong bearish movement. ________________________ Doji Candle (Morning Star) By a Doji we mean a candle that has the same opening and closing price. Being formed after a strong bearish move, such a Doji will be called a Morning Star. It signifies the oversold condition of the market and the local weakness of sellers. Such a formation may quite accurately indicate a coming bullish movement. Doji Candle (Evening Star) Being formed after a strong bullish move, such a Doji will be called an Evening Star. It signifies the overbought condition of the market and the local weakness of buyers. Such a formation may quite accurately indicate a coming bearish movement. I apply these formations for making predictions on financial markets every day. They perfectly work on Forex, Futures, Crypto markets and show their efficiency on various time frames. ❤️Please, support my work with like, thank you!❤️
FOREXCOM:XAUUSDEducation
by VasilyTrader
13
Critical Support Level Identified for GBPUSDOn closer analysis of the GBPUSD on a higher timeframe, it is evident that the candlestick has closed above the previous high, thereby confirming the bullish trend of the currency. However, one must exercise caution before diving in, as the current market price is currently situated on the weekly chart supply zone, which traditionally indicates a sell zone. Nevertheless, my outlook remains bullish on the GBPUSD, and I plan to take a measured approach by waiting for the market to retrace back to 1.2500 and watch out for a Double Bottom on the 1-hourly chart before making any trading decisions. This strategy will enable me to minimize risk while maximizing potential returns.
Long
by RaynLim