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Engulfing Candle

GEVO - Way to go (Bullish engulfing candle today)GEVO first broke decisively out of it's long term base (with resistence @ 4.90) on 12 Jan this year and never looked back since. The price has since more than doubled to $12 today. However it is still early days yet as this is another stock with the hallmarks of a multi-bagger (patience!). It hit a high of 14.50 last week and then consolidated to a low of 9.82 3 days ago before we start to see a few "hints" 2 days ago athat a resumption of the uptrend could be on the horizon, namely: 1. a green Harami candlestick forming on 1st Feb 2. bullish divergence seen between price & RSI 3. a bullish engulfing candlestick today Long between 11-12 with initial stop loss slightly below it's pivot low of 9.83. Swing traders may consider to scale out along some long term resistences on the way up (eg 18.30, 24.60 ...) while those who are deep in the profits can consider to sit out future short term consolidations (within reasonable limits) and see how far this baby would bring us :) Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
NASDAQ:GEVOLong
by Juliac
4
GBPUSD LONGPrice is in an uptrend and is respecting an upward trendline. Price has recently rejected the trendline with a bullish engulfing candle on the 4hr chart at a zone where it had rejected before, thereby forming a double bottom at this zone. We should remember that if price is coming down and creates a double bottom - this is a good reversal signal to the upside. Also price is forming an ascending triangle comprising of higher lows. The double bottom was created at the last higher low that price failed to break. So i entered a long after the bullish engulfing candle on the h4 chart. I anticipate that price will break the resistance and continue up to the zone around 1.37909 as normally that`s how the ascending triangle works. But we wait and see what the market does.
Long
by Mymiracle
BTC - H4 - BEARISH ENGULFING PATTERN !H4 : Last candle is showing a bearish engulfing pattern Today's recovery has been... for the time being short lived. Indeed, failure to crossover Kijun-Sen and this 2 consecutive times triggered selling pressure which push down again the BTC inside the falling wedge and below the downtrend line resistance H1 : Watch this time frame,for clues and intermediate signals; clouds are working, so far, very well as resistance area intraday's high being roughly at the middle of the clouds which is by the way also Kijun-Sen level...
BITSTAMP:BTCUSD
by Ironman8848
SPX: The beginning of a new BEAR MARKET?Hello traders and investors! How are you today? Well, we are having a big sell-off, let’s see what’s going on here, and do a complete Multi Time Frame Analysis (MTFA) and look at the H,D and W charts. First, in the hourly chart, we see that the resistance at the 3827 worked very well, and the index dropped to lower levels today. What’s more, it triggered a Bearish Pivot Point at the 3732. Now the 21 ema is there to work as a resistance, and it is near the same level the 21 ema is in the daily chart too: In the daily chart, the index lost yesterday’s low, which was a decisive Key Point for the short/mid-term, and this might bring a pullback to lower levels. We discussed this possibility yesterday, in my last analysis, if you missed, just check the link below. The shadow under the candlestick’s body is annoying for sure, but since it lost the trendline and the 21 ema is starting to point down, we may see a sharper pullback indeed. And if that’s the case, where’s the next stop? We have a possible Bearish Engulfing in the weekly chart, and if triggered, the index has a next stop at the 21 ema, which is a nice spot to aim. Remember to follow me to keep in touch with my daily updates and support this idea if you liked it! Thank you very much.
SP:SPX
by Nathan_The_Finance_Hydra
12
LI AUTO, Oversold at support & Bullish EngulfingAfter fibo 61.8% retrace LI tested the upper side of the ascending channel and retrecaed back to fibo 50%. This area is acting as an important support and yesterday' formed a Bullish engulfing candle. If we close in green today the engulfing will vallidate and it will either test the next fibo at $40 or the upper channel. If it cant break that expect a correction back to 38.2% or $35 area. Put your stop below yesterday's wick just in case.
NASDAQ:LILong
by Kryptolinks
HSI - Potential Bearish Engulfing on Weekly CloseIt is very crucial for the last trading day of January 2021. If the weekly candle close below last week low, it will engulfed by a larger red candle indicating a shift toward lower prices. 1. As proven on last trading week of January 2018, 2020 which was also year high for that particular year when this happened. 2. Being resisted twice by 2019 year high at 30,280. So, is the trend repeating? Is the market already top for the year of "BULL" (2021)? I hope not. However, the past performance is not always*(sometimes it does)* indicative of future results. Be cautious. Stay safe and Gong Hei Fat Choi! <3
TVC:HSI
by Inandouthunter
USDJPY With Several Evidences For A Potential Bottom FormationHello traders! Today we will talk about weekly USDJPY chart and we will show you many evidences for a potential bottom formation. Well, for the begining let's talk about wave structures from Elliott Wave perspective. USDJPY is in a downtrend since March, but the wave structure is slow, choppy and overlapped which we see it as a complex corrective W-X-Y decline and we know that once corrections fully unfolds, we can expect a reversal. The next very important evidence is an ending diagonal (wedge) pattern placed in third leg Y. The ending diagonal is a special type of wave that occurs in wave 5 of an impulse, or wave C/Y of a correction. This wave often occurs when the preceding move of the trend has gone too far, too fast and has run out of steam. An ending diagonal pattern is a type of pattern that can occur at the completion of a strong move. It reflects a “calming” of the market sentiment such that price still moves generally in the direction of the larger move, but not strongly enough to produce an impulsive wave. Ending diagonals consist of five waves, labeled 1-2-3-4-5, where each wave subdivides into three legs. Waves 1 and 4 overlap in price, while wave 3 can not be the shortest amongst waves 1, 3 and 5. The reason why they are so interesting is because they are indicating a reversal, usually a strong one. The next interesting evidence is that we are already seeing bounce and recovery with quite big weekly candlestick, completely covered the previous one, called bullish engulfing candlestick formation which also suggests a bullish reversal from the lows. If we also consider current break above strong weekly trendline, then with so many evidences, we can easily confirm a potential bottom and bullish reversal. Trade well! If you like what we do, then please like and share the idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Education
by ew-forecast
1
EUR/GBP - Long Term Support Level Continues to HoldThis is EUR/GBP on the Daily Chart. We can see price has respected this level of support since May 26th 2020. Once again price has tanked down to our support level and bulls have been sitting at our support zone - we can see price starting to move away from our key area yet again to the upside. We can use candlesticks at this key level as extra confirmation - such as an engulfing candle, or the bullish pin bar. Any questions, just ask!
by Jal121
1
TOP 6 Candlestick PatternsHi, I would like to share my TOP 6 candlestick patterns, you can also name your TOP 3 in the comment section. Perfect scenario: identify the strong area, wait for the price coming inside of it, wait for a candlestick pattern which consists of at least two candles and it has to form in at least 1-hour timeframe (lower TF candlestick patterns are poor), wait for a pullback and GO. Always wait for a small pullback after the candlestick pattern has formed, you will get a better price. It is so rear case that after candlestick pattern formation the price goes immediately into the shown direction. MORNING STAR The Morning Star is a bullish bottom reversal pattern. It warns of weakness in a downtrend that could potentially lead to a trend reversal, especially if it forms on a strong support level. The morning star consists of three candlesticks with the middle candlestick forming a star. The first candlestick in the morning star pattern must be a red candlestick with a relatively large real body. The second candlestick is the star, which has a short real body that is separated from the real body of the first candlestick. The star does not need to form below the low of the first candlestick and can exist within the lower shadow of that candlestick. The star is the first indication of weakness as it indicates that the sellers were not able to drive the price close much lower than the close of the previous period. This weakness is confirmed by the third candlestick, which must be green in color and must close 50% above the body of the first candlestick. EVENING STAR The Evening Star is a bearish, top trend reversal pattern that warns of a potential reversal of an uptrend. It is the opposite of the Morning Star and, like the morning star, consists of three candlesticks, with the middle candlestick being a star. The first candlestick in the evening star must be green in color and must have a relatively large real body. The second candlestick is the star, which is a candlestick with a short real body that does not touch the real body of the preceding candlestick. The star can also form within the upper shadow of the first candlestick. The star is the first indication of weakness as it indicates that the buyers were unable to push the price up to close much higher than the close of the previous period. This weakness is confirmed by the candlestick that follows the star. This candlestick must be a red candlestick and must close 50% above the body of the first candlestick. BULLISH/BEARISH ENGULFING The Engulfing candlestick pattern is a two-candle reversal pattern. A reversal pattern can be bearish or bullish, depending on whether it appears at the end of an uptrend (bearish engulfing) or a downtrend (bullish engulfing pattern). The first candle is a small body, followed by the second candle whose body completely engulfs the previous candle body and closes in the opposite direction of the trend. BULLISH/BEARISH RAILWAY TRACKS A bearish railway track pattern has the first candlestick bullish and the second candlestick bearish. That fact that there is a sudden change from bullish to bearish candlestick should be a good indication that there might be a bearish trend forming. If you see it inside of the determined strong area the more powerful it is! Regards, Vaido
COINBASE:BTCUSDEducation
by VaidoVeek
13
Can WE Reach XLM ATH in Few Weeks?After Very long side way XLM has broke out two very Strong Key Level Of Resistance with very bullish weekly candles . in the last two candles we can see great engulfing which broke resistance key level and finally nice rejection by zone and dynamic trend line. there is two long possibility for price action now: get back to the zone one more time and start to moving up and break small ascending channel then pullback to it and then start moving up.
CAPITALCOM:XLMUSDLong
by behnamkarimi6
AAPL: "Engulfing" Cup and HandleBoth are daily charts of Apple. On the left, a cup and handle formation has recently resolved within the larger trading range. First there was a test of upper resistance (I call it a kiss hello, probably not the first to call it that), then a small pullback (the handle), then a breakout. Old resistance became new support, and when price came back, it said thanks a lot and gave support a kiss goodbye. On the right, the same type of behavior is evident. In a sort of, "engulfing manner," a new cup and handle is happening around the first one. This time it is more interesting because a break above would take us to a new all-time-high.
NASDAQ:AAPL
by The_Arena_Trader
1