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Candlestickpattern

RECOGNIZING ENGULFING CANDLESTICK Hello traders! - I want to present the engulfing candlestick pattern and will try to explain why it is important to recognize this pattern formation. - The engulfing candlestick is a crucial tool in technical analysis for traders in financial markets. It serves as a powerful indicator of potential trend reversals or continuation, providing valuable insights into market sentiment and potential future price movements. - Recognizing and interpreting these patterns can enhance the ability to spot potential trend reversals, confirm existing trends, and make informed trading decisions. However, like any technical analysis tool, it is important to use engulfing patterns in conjunction with other indicators and risk management techniques for a comprehensive approach to trading. Follow, like, and comment to see the daily/weekly content: www.tradingview.com
BITSTAMP:ETHUSD
by GoodTradeST
#AUDCAD potential bullish continuationAs you can see in the 4-hour timeframe chart, there are several different bullish confluences that we are currently observing. Firstly, the price is retesting a bullish trendline that has supported this recent bullish move since October 16th. Secondly, the price is also finding support from the 200EMA , and the price formed a nice rejection off this overlay indicator. Thirdly, we have bullish divergence between price and the stochastic oscillator, suggesting that momentum has shifted to the upside. Also, from a market structural point, the price is forming higher highs and higher lows and is currently testing the previous resistance, which has now turned into support. After observing all these bullish confluences, the price then formed a bullish engulfing candle, suggesting that bulls are active in the market. To participate in this market, there are two things that we can do. Either we can engage in this market by executing a buy order at the current price or place a buy limit order at 50% of the bullish engulfing candle, of which I prefer to use the second method.
Long
by mohemati
2
Boeing Stairsteps for Swing TradingNYSE:BA has the most powerful and longest momentum run of all of the 30 Dow components. The company reports earnings on January 24th and the run up implies that the 4th quarter is likely to be better than previous quarters in 2023. This stock has moved strongly since the bottom in November and has been able to pattern out some of the speculation with stairsteps to keep the run moving upward beyond the resistance level of its range trend. Some of this movement upward is ETF developers building more ETF units for certain industries and corporations. Profit-taking is likely soon for this swing trade as it nears the long-term resistance at the 2021 highs. However, there is now support from the range of the August highs.
NYSE:BA
by MarthaStokesCMT-TechniTrader
Bearish Bat Confirmed, Shorting Opportunites AheadHave you observed the eclipse on the weekly chart of JPY pairs? It's a prevailing theme, reflecting a retest of structural support across all Yen pairs in my list. This setup hints at a potential buying opportunity emerging in the upcoming week. However, for those like me, eyeing the Bearish Fib-3 Bat Pattern on the weekly chart, there are two enticing opportunities on the 1-hourly chart. Option 1 presents a Bearish Gartley Pattern at X, likely completing at 145.30. Alternatively, Option 2 showcases a Bearish Fib-3 Bat Pattern, completing at 146.87. Both scenarios necessitate a 3-bar reversal before considering trade engagement. What's your strategy for USDJPY? Share your thoughts or trade plans in the comments below! Let's explore the potential moves in this market together. 💬📈
Short
by RaynLim
Trend Rotations and Trading OpportunitiesEURUSD seems to be displaying signs of a weakening bullish trend, paying homage to its prior structure with an immediate retracement. For those eyeing a potential buying opportunity, I'm personally keeping an eye on the Bullish Shark Pattern, anticipating a 3-bar reversal around 1.0688. That might just be the sweet spot for a promising buying opportunity! 🦈💱 What's your take on EURUSD's movement? Share your trade plans or thoughts on this trading setup in the comments below! Let's discuss our strategies for navigating this market. 🗨️📈
Long
by RaynLim
#AUDUSD possible bearish moveIn the daily timeframe chart, you can see that we have a bearish channel which the price reached a few days ago, and since then, it has been trading lower. Due to this bearish move, price managed to break its bullish market structure in the 4-hour timeframe, and now the 4-hour market structure is bearish. On the other hand, this recent bearish impulsive move makes us believe that the price can potentially go lower, and as a result, we can wait for retests and bullish corrective moves to participate in the market by taking short positions. For now, we are waiting for the price to retest its broken level , which previously acted as support and now would act as resistance. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Short
by mohemati
2
Potential Trend Trading Opportunity with Bullish Shark PatternNZDJPY reveals a promising Bullish Shark Pattern, presenting a potential trend trading opportunity. While waiting for a 3-bar reversal offers further confirmation, it's prudent to engage post a weakening of the bearish move. For aggressive traders, immediate entry might be considered, with a crucial emphasis on identifying stop levels to mitigate risk. What are your insights or strategies on NZDJPY? Feel free to share your thoughts below!
Long
by RaynLim
Spot A Reliable Bottom Pattern 👀Hi Traders, Investors and Speculators 📉📈 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩‍🏫 Are we there yet? Are we THERE YET? Now? How about NOW ?? We can't help it - towards the end of a bearish cycle, we're all wondering - when are we bottoming? In today's chart, I've pulled up a few of my favorite candlestick patterns and chart patters. I find these especially useful in higher timeframes. And yes, there are MANY MORE. These are just some of my favorites. These patterns are what I will be looking for in this part of the cycle (accumulation phase). During this part, there can be lot's of foul play, noise, shakeouts etc. I personally won't be convinced of a reversal until a clear pattern can be observed. While you're here 🖐 Want to know a little more on how to do distributed entry's / dollar-cost-average? See HERE: _________________ 👀 Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎 👍Hit like & Follow 🔔 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
28
Bitcoin Weekly Green CandlesOver the last 2373 Days, bitcoin has experienced volatility between $1830 and $69,000. During this period, bitcoin closed with a green candle 4 times for 7 consecutive weeks. This week, it will repeats the record by closing green candle for the 5th time in 7 consecutive weeks. In the cycle I mentioned, the green candle could not close for 8 weeks. After the 7th week, it entered the accumulation process between 2 and 12 weeks. During this period, there were decreases of up to 25%. Afterwards, bitcoin came back stronger. I wonder so much. Will we see the 8th green candle next week? When I saw this I wanted to share it.
BITSTAMP:BTCUSD
by falconlinefutures
1
Bearish Bat Confirmed, Shorting Opportunites AheadUSDJPY's Weekly chart confirms the presence of a Bearish Fib-3 Bat Pattern, signaling a potential trading opportunity. One approach to engage this trade involves patience, waiting for a break and close below 146.66 on the 1-hourly chart. Upon confirmation, I plan to enter the trade, anticipating a significant pullback or a setup aligning with the bearish pattern. What are your thoughts or trade plans for USDJPY? Share your insights or strategies below!
Short
by RaynLim
Balancing Bullish Signals And Counter-Trend StrategiesDespite GBPUSD showcasing a bullish trend, I'm eyeing a shorting opportunity on this pair. The daily chart signals the completion of a Bearish Bat Pattern, yet a direct engagement at this level poses considerable risk. To mitigate this, my strategy involves patience, awaiting a market retest on the 1-hourly chart. Coincidentally, this timeframe also displays a Bearish Bat Pattern, offering a more favourable risk-reward ratio with reduced exposure. Share your thoughts or strategies on GBPUSD below!
Short
by RaynLim
Retesting Supports And Resistances - Key Zones RevealedEURUSD offers a spectrum of opportunities catering to both buyers and sellers. For those eyeing a buying opportunity, consider confirmation at the current price for a structured trade on the 4-hourly chart. Alternatively, trend traders might await a retest around 1.0688, targeting a bullish shark pattern setup. On the flip side, if shorting is your preference, keep an eye on a potential retest of support at 1.0896, presenting an opportunity for a bearish trade. Share your trade plan or thoughts on EURUSD's potential below!
Short
by RaynLim
MSFT Making a Typical Bearish DivergenceMicrosoft ( NASDAQ:MSFT ) has been on a bull run since the AI hype started. Despite a correction that pulled it down all the way to $310, it has recovered well and continues to stay strong. However, after analysing its most recent bull run and using the RSI indicator, I have concluded that it has exhausted its bull run and is ready to take another correction. As can be seen in the above image, the share price made a new Higher High on 28th November. A previous high of $376 was achieved on 16th November. During this time, the RSI indicator made a lower high as can be seen in the above image. What does this mean? In the above case, the RSI does not make a new high when the stock price makes a new high. This shows that the momentum is weakening and trend riders may want to book their profits. As a consequence, the share price stalls and with fewer buyers and more profit takers, the likely path for the share price is downwards . Dark Cloud Cover Moreover, the candlestick pattern formation shown in the figure below also shows bearish sentiments. The closing candle on 29th November confirmed the formation of 'dark cloud cover'. Dark cloud cover shows a shift in momentum to the downside. Together with the RSI divergence, it seems NASDAQ:MSFT is headed south. What do you guys think about this?
NASDAQ:MSFT
by jabranstwocents
#AUDJPY potential turnaroundHello dear traders and friends. Let's take a look at the AUDJPY chart and explore the potential bullish move that could happen from around here. As observed in the 4-hour timeframe chart, the overall direction of the price is bullish , characterized by higher highs (HH) and higher lows (HL). The price respects a bullish trendline acting as support, with clear bullish bounces occurring each time the price reaches or gets close to this line. Simultaneously, in the 1-hour timeframe chart, the price is forming a double bottom , corresponding with a bullish divergence between price and the momentum (Stoch) oscillator. The crucial aspect of these two confluences is that they are occurring in an important supportive area, namely the static support area and the bullish trendline, which adds to the possibility of the divergence working out. From a candlestick perspective, we also observe the formation of a bullish engulfing candle in the 1-hour timeframe, which can be interpreted as a morning star if combined with two previous candles. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Long
by mohemati
9
Looking Ahead to the 4th Quarter for $DISNYSE:DIS has been working on a bottom for a long time. The stock has moved up recently due to heavy buying of Dow components for the DIA and other ETFs which require Dow components. Many Families are making Disney Resorts a holiday location this year. The stock now faces stronger bottom completion resistance from the 2nd quarterly report, which sent the stock moving down further until this October. The volume is very low recently, which is partly due to the holiday but also warns of weakening buyer activity at this price level. However, there was Dark Pool accumulation in the base of the bottom, along with some Pro Trader activity evident in the candlestick and technical indicator patterns. This range now provides moderate to strong support.
NYSE:DIS
by MarthaStokesCMT-TechniTrader
TSLA: The Most Important Chart Structures! (D & W charts).TSLA shares are up today, reacting above the 21 EMA seen on the daily chart, which, by the way, is still pointing upwards. What's more, it hasn't managed to lose support at $226, which we nailed in our last public study (the link to my previous TSLA analysis is below this post). Given the technical evidence described above, TSLA maintains bullish sentiment in the medium term, as it has failed to trigger a bearish reversal structure by losing its key support levels. However, it has not yet broken through the previous top of $246.70 so that it could make a higher high again, resuming the pattern of higher highs/higher lows that makes up an uptrend. As mentioned above, only if TSLA loses the $226 area would this trigger a bearish technical reversal pattern on the daily chart, as we would see it making a lower low after failing to break through the previous top of $246 - a classic bearish pivot point. For now, the situation seems to be under control. Now let's take a look at the weekly chart: Here we see why it is so important for TSLA to maintain the bullish sentiment. TSLA’s price is still inside a Descending Channel, which could be part of a huge Bullish Flag pattern, but it must confirm an upwards breakout so it can turn the long-term sentiment bullish again. TSLA is almost there and if it breaks this channel, it could easily look for the next resistance around $300 again. So far, there is no apparent bearish reaction suggesting a top or a correction to the support line of this channel – in fact, TSLA is finally above the 21 ema on the weekly chart again. I’ll keep you posted on this, so remember to follow me and support this idea, if you liked it! Best regards, Nathan.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
6
#USDCNY long term selling opportunityAs you can see in the chart massive bearish divergence between price and MACD indicator in weekly time frame which can cause a long term selling opportunity. Also price is testing bullish trend line acting as resistance since its connecting the tops and every time price test this trendline sellers jumped into market and drive price lower. Also as you can see we already had bearish divergence in the price before and caused prices to come lower in previous tops
Short
by mohemati
#DXY more downside outlook Hello, dear traders. I hope you're all having a great week. Last week, we were looking to buy the DXY in two areas, which turned out to be very successful, and you can review those details in the attached chart. However, on Friday, the price managed to break below our important daily low, shifting the market structure to the downside. Now, in the 4-hour timeframe, we are exploring potential areas for selling. As the price has been moving higher in the last two days in a corrective manner, it's approaching the first resistance area, which previously acted as support. This area also coincides with the 38% Fibonacci level. Nevertheless, we are more inclined to see the price rise further to test our second resistance area, as it offers a better Risk-to-Reward ratio and aligns perfectly with more bearish confluences. It's important to note that while the 4-hour timeframe has shifted to a bearish market structure, with expectations of further downward movement, the daily timeframe still displays a bullish trend, and this 4-hour move is essentially a corrective move within the daily timeframe. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
TVC:DXYShort
by mohemati
10
Breaking Out on 1 hour candle. #Marico Are you looking for a Breakout Stock? It's right here. What's your view on this? Please share. Hope this post adds valuable insights to your trading/investment journey. Don't forget to share with your friends. (Bcz as your friends join you will have someone like-minded with whom you can share and discuss and bring clarity to your learning and life.) *** Disclaimer: Please note that this is only for Study Purpose and not a recommendation. So please do your own research before investing in market.
NSE:MARICOLong
by Trendx2