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Engulfing Candle

NQ Power Range Report with FIB Ext - 10/13/2023 SessionCME_MINI:NQZ2023 - PR High: 15329.00 - PR Low: 15313.50 - NZ Spread: 34.5 Evening Stats (As of 1:05 AM) No Significant Economic Events Wide range set from prev session - Holding inside prev session range - Weekend Gap: -0.65% (filled) - Session Gap: -0.33% (open > 15807) - Session Gap: -0.11% (open > 15939) - Session Open ATR: 246.79 - Volume: 22K - Open Int: 254K - Trend Grade: Neutral - From ATH: -8.6% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 16105 - Mid: 15247 - Short: 14675 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
CME_MINI:NQZ2023Long
by mv3trader5
📈✨ Golden Opportunity Alert: Trading the Bullish GartleyCalling all traders! We've uncovered a glittering setup on the 1-hour timeframe for Gold that's simply too good to resist: 📌 Technical Analysis Highlights 📌 🔷 Bullish Gartley Pattern: The price action has elegantly formed a bullish Gartley pattern, and not just that, it has successfully completed it. The confirmation is a bounce precisely at point D. 🕯️ Bullish Engulfing: Adding to the confirmation, the most recent candlestick is a powerful bullish engulfing pattern, solidifying the setup's potential. 📈 Trade Strategy 📈 With these compelling technical signals, it's time to seize this golden buying opportunity on Gold! 🎯 Take Profit Targets 🎯 1️⃣ First Target: 1924 2️⃣ Second Target: 1932 3️⃣ Ultimate Target: 1945 Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you want more qualitative insights like this one 🌊🚀
OANDA:XAUUSDLong
by Thomas_Zito
4
Seizing Bearish Momentum: Nasdaq 4H Setup with Gartley Pattern📉Attention traders! After successfully bagging a 1:8 risk reward ratio on the recent rally on S&P 500. There is an exciting Nasdaq setup on the 4-hour timeframe that demands your attention. Here's the breakdown: 📌 Technical Analysis Highlights 📌 🐻 Bearish Gartley Pattern: The Nasdaq chart reveals a bearish Gartley pattern, hinting at a potential trend reversal. 🕯️ Bearish Engulfing Candlestick: Point D of the pattern confirms the reversal, marked by a formidable bearish engulfing candlestick. This indicates that sellers have taken the reins, overpowering buyer sentiment. 📈 Momentum Shift: The price is currently gaining momentum, positioned just below the moving averages, and a crossover seems imminent. This adds weight to the bearish scenario. 📉 Trade Strategy 📉 With these compelling technical signals, it's time to consider a short position on the Nasdaq. Initiate your short trade around 15,420 with a strategically placed stop loss above the recent high, approximately at 15,540, to manage risk effectively. 🎯 Take Profit Targets 🎯 1️⃣ First Target: 15,230 2️⃣ Second Target: 15,000 3️⃣ Ultimate Target: 14,700 Remember, trading carries inherent risks, and prudent risk management is paramount. Perform thorough research and stay updated on market conditions. Best of luck with your trades, and may they yield substantial profits! 💰📉📈 Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful 🌊🚀
OANDA:NAS100USDShort
by Thomas_Zito
11
Netflix Breaking Major Support Not a Good look Hi guys! This is an Update on Netflix (NFLX) on the 1 day chart. We are currently at risk of a trend change in the makings due to a breakdown of Major Support. This is a zoomed in look on the daily timeframe. But if you look at my previous idea below, notice the Uptrend Channel that Netflix has been following since June 2022. Todays candle is currently BELOW this Support trendline of the Channel. Not a good look for Netflix. But brings in opportunity for take a Short, once confirmation comes in. Notie also that with the print of the Massive BEARISH Engulfing Candle, we are now below the 21 EMA. Note the BEARISH Engulfing Candle indicates extreme selling pressure. It shows that the majority of the previous move up to the resistance was sold off by this 1 candle print. With this daily candle & the engulfing candle it equates to the entirety of that move. Being BELOW the 21 EMA, tells us declines are likely ahead of us. ALso if we are where we are with the close of our current daily candle, we will confirm BELOW 21 EMA. Thus supporting probability of further declines. Look to the Black Horizontal Line below us for our current target for this price decline. BUT if we can somehow move back ABOVE the channel, by the end of the week before CONFIRMATION. This could support the probability of us resuming our Uptrend. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on NFLX in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:NFLX
by SafofAllTrades
BTC Swing AnalysisHi friends. Today im going to take a brief look at Bitcoin. According to New Cryptocurrency market Catalyst , I mean launching PayPal Stable coin , we can look at BTC chart Technically better. So lets take a look: 1.After reaching price to the Middle line of drawn channel , it failed to break it. so went approach lower channel line that overlapped with a strong support level(28000-28800 level) 2.When we reach this level , an Engulfing candle appears in 4H timeframe. 3.We have a strong fundamental Catalyst about PayPal stable coin(Remember that past Bullrun to 67000$ level starts with accepting Bitcoin by PayPal) 4.If we pass this area , the first target is 31800 and after that we have a strong resistance at 36500 level. 5.Classically , price is shaping a flag pattern that its target is the middle line of growing channel in around 33000 level. Hope you enjoy my view in Bitcoin. Share me your opinion in comments. What do you think?
Long
by TraderAmin-KZ
6
IWM Bearish Engulfing +5 CandleThe IWM ETF which tracks the Russel 2000 index put in an outside reversal, or bearish engulfing, candle today which eclipsed the 6 prior daily candles. When the body of a price candle completely engulfs the prior candle it is called a bearish engulfing candle. Since todays candle also engulfed the 5 candles prior to yesterdays it is called a bearish engulfing plus 5 candle(BE+5), for a total of 6 candles that were eclipsed by todays candle. The more candles that are engulfed by an outside reversal candle the more bearish the move and outlook. Raising your stop-losses and/or taking some short bets against the market isn't a bad move here on an outside reversal day like today was, especially if markets close down going into the weekend. If markets close red on a Friday, they tend to close red the following Monday as well.
AMEX:IWMShort
by PrepForProfit
SPY Bearish Engulfing +2 CandleWhat started off as a strong move higher today with a slight gap at the open, ended with price filling the opening gap and finishing in the red for the day. In the process, SPY has put in an outside reversal, or bearish engulfing candle, which eclipsed the three prior daily candles. When the body of the current daily candle engulfs the previous daily candle it is called an engulfing candle, and on a down day like today it is a bearish engulfing candle. Since price also eclipsed the two daily candles prior to yesterdays candle it is called a bearish engulfing plus two candle(BE2). The more candles that are engulfed the more negative or bearish you can consider the candle and outlook. This BE2 also occurred near the apex of a rising wedge pattern which tend to be bearish patterns on their own that lead to downside moves in price. Be careful out there, raising your stop-loss orders on long trades isn't a bad idea here, especially if you are in the green and want to lock in some profit.
AMEX:SPYShort
by PrepForProfit
1
Negative Closing and a bearish engulfing on daily chart. Negative Closing and a bearish engulfing on daily chart. Also in the hourly parallel channel 50 hours EMA is broken. In addition to this mid-channel support is also broken. This smell of weakness in the bull rally and perhaps a second signal of bear waking up from their comma. From the data available weekly closing below 19298 can change the trend of Bull rally and totally awaken the bears. Till we are above 19298 we can consider this fall as correction and consolidation within the Bull Rally. Nifty Supports: 19641, 9578, 19507, 19373. and 19298. Nifty Resistance: 19743, 19823, 19874 and 19939.
NSE:NIFTY
by Happy_Candles_Investment
GBPUSD LONG AHEAD OF FOMCRecently, the GBPUSD has been obviously bullish, marked by higher highs and higher lows in the daily time frame. The last few days has given us a descent pullback to the confluence of June 5 trendline and the market structure (previous high). GBPUSD found support at this confluence point bouncing off to print a bullish engulfing candlestick on daily time frame. A pullback to the top of the falling channel (1.2850-1.2840) on 4hr time frame will offer bulls a long opportunity with a very good risk reward ratio.
Long
by MTAcademy
🐻📉 S&P Bearish Gartley: A sharp Retracement Ahead! 📉📉Hey traders! 🐻📉 Are you ready for a retracement on the S&P in the 1-hour timeframe? Let's dive into this bearish setup! 📉📉 📈 Bearish Gartley: The price action on the S&P has formed a bearish Gartley pattern, with the price topping twice on point D. This reliable harmonic pattern signals trend reversal with a highly reliable consistency. 🕯️ Bearish Engulfing: Adding to the bearish case, the price has now formed a bearish engulfing candlestick, indicating a possible shift in momentum from bullish to bearish. 📉 Retracement Potential: Considering these technical factors, I'm closely watching for a sharp retracement to the 4500 area. and even lower if the bearish momentum remain. The market sentiment seems to be aligning with a bearish outlook. 💡 Moving Average Crossover: To further strengthen the bearish setup, the imminent crossover of the 9 and 21 moving averages is providing a solid confirmation of the potential retracement. Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful🚀
OANDA:SPX500USDShort
by Thomas_Zito
1
🐻📉 AUDUSD Alert! Bearish Bat Pattern Signals Sharp Correction 🚨 Attention traders! We have an exciting bearish setup on AUDUSD that you don't want to miss. Our previous bullish setup on AUDUSD was a resounding success, allowing us to secure profitable gains. Now, it's time to switch gears and capitalize on a new opportunity as the tide turns bearish. 📉🦅 The formation of a bearish bat pattern, coupled with two strong confirmations, suggests a sharp correction is on the horizon. The bearish bat pattern has emerged, indicating a trend reversal. This harmonic pattern is known for its high success rate and presents an excellent opportunity to capitalize on the downward movement. confirmation n°1 : Adding to the bearish thesis, the last candlestick has formed a rejection pattern precisely at the resistance level, highlighting significant selling pressure in this area. This optimal entry point allows us to ride the anticipated sharp correction. confirmation n°2 : Furthermore, the RSI indicator is currently in the overbought zone, signaling a potential shift in momentum. This further supports the bearish setup and increases the probability of a downward move. To take advantage of this setup, I recommend entering a short position around 0.68775. Our first take profit level is set at 0.67900, which coincides with a liquidity pool where potential support could be found. Our target stands at 0.67000, representing a significant downside potential. Keep in mind the importance of proper money management. It is essential to respect your risk tolerance and avoid risking more than 2% of your account on any given trade. Stay disciplined and protect your capital. 💰💪 Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful 🚀
Short
by Thomas_Zito
28
Bullish Opportunity on USDCNHHello traders! I would like to present an exciting trading opportunity on the USDCNH currency pair, which appears to be trading bullish on the 1-hour chart. After analyzing the price action, I have identified a compelling bullish engulfing candlestick pattern, suggesting a continuation of the upward trend. Let's dive into the details of this trade plan. Trade Plan: Entry 1 (Market Execution): 7.1800 Entry 2 (Market Execution): 7.1804 Stop Loss (SL): 7.1277 Take Profit 1 (TP1): 7.2131 Take Profit 2 (TP2): 7.2405 Reasoning: Bullish Engulfing Candlestick Pattern: The recent candlestick formation indicates a shift in market sentiment, as the bullish engulfing pattern has formed on the chart. This pattern typically suggests a reversal of the bearish trend and the emergence of bullish momentum. Strong Buying Interest: The presence of a bullish engulfing candlestick pattern signals increased buying pressure, as the buyers have overwhelmed the sellers during the given timeframe. This suggests a potential upward movement in the USDCNH pair. Trade Execution: To take advantage of this bullish opportunity, I have executed a market order with two entry points. The first entry is at 7.1800, while the second entry is at 7.1804. This allows for a staggered entry strategy, potentially capturing a better average price and managing risk. Risk Management: To protect our capital in case the market moves against us, I have set a stop loss (SL) level at 7.1277. This level represents the maximum acceptable loss for this trade setup. It's crucial to adhere to proper risk management principles to safeguard our trading capital. Profit Targets: For potential profit-taking, I have set two take profit levels. The first take profit (TP1) is at 7.2131, representing a moderate level of resistance on the chart. The second take profit (TP2) is set at 7.2405, targeting a stronger resistance level. Traders may consider adjusting their positions or locking in profits at these levels. Please note that trading involves risk, and it is essential to perform your own analysis and risk assessment before making any trading decisions. This post is intended for educational purposes only and should not be considered as financial advice. Happy trading and may the markets be in your favor! Disclaimer: The information provided here is based on my analysis as a technical analyst and may not be accurate or suitable for everyone. Trading involves substantial risk, and you should only trade with capital you can afford to lose.
Long
by T-Q
4
Bitcoin in MAJOR Trouble?Recently I posted an idea about bitcoin breaking out and running to much higher prices and shortly after, the number 1 cryptocurrency asset attempted to take the first step to doing so. However, there was no follow-through in price action and now Bitcoin finds itself in a very vulnerable position. It is still very bullish in my opinion and I do believe more price action to the upside is coming, but right now Bitcoin has painted several bearish signals on its chart that must be discussed. One of them being a bearish reversal candle on the daily chart. More specifically referred to as a bearish engulfing candle. They form at areas of resistance and are often validation of weakness in price action such as bearish divergences for one example. There are other bearish reversal candles as well.. this is just one of them. We also have major weakness in relative strength as we have now confirmed triple bearish divergence on the daily RSI. There is also a strong case for bearish divergence on the weekly timeframe as well. For now it is expected for us to remain in the trend but with all of this major weakness in the market, follow through sell pressure could come at any moment. We are now heading into the weekend, so the price action over the next few days will be unreliable. This could be a good thing as this may give unsure traders time to adjust or hedge their positions. If and when that breakdown occurs, there are levels of interest that we will discuss. But for now as we head into the weekend, we must simply wait until institutional markets open back up on Sunday evening.
BITSTAMP:BTCUSDShort
by TradeVibez
How to Spot and Trade the ENGULFING CANDLE Hey traders, In this post, we will discuss a classic candlestick pattern formation each trader must know - the engulfing candle. Key properties of this pattern: 🔑 Engulfing candle is a reversal pattern. 🔑 Engulfing candle can be bullish or bearish. ❗️Also, remember that this candle demonstrates the highest accuracy when it is formed on a key level (support or resistance). ⬆️Bullish Engulfing Candle usually forms after a strong bearish impulse. Weakening, the market keeps going lower forming bearish candles. However, at some moment, instead of forming a new bearish candle the market reverses. The price forms a bullish candle that engulfs the range of the previous bearish candle and closes above its opening price. Such a candle we call a bullish engulfing candle. The main feature of this pattern is the fact that its total range (distance from the wick high to wick low) & body range (distance from body open to body close) exceed the ranges of a previous bearish candle. Being formed on a key support level or within a demand zone it signifies a highly probable pullback or even a trend reversal. ⬇️Bearish Engulfing Candle usually forms after a strong bullish move. Reaching an overbought condition, the market keeps going higher forming bullish candles. However, at some moment, instead of forming a new bullish candle the market goes in the opposite direction. The price forms a bearish candle that engulfs the range of the previous bullish candle and closes below its opening price. Such a candle we call a bearish engulfing candle. The main feature of this pattern is the fact that its total range (distance from the wick high to wick low) & body range (distance from body open to body close) exceed the ranges of a previous bullish candle. Being formed on a key resistance level or within a supply zone it signifies a highly probable pullback or even a trend reversal. Take a look how powerful the engulfing candle is: on Gold chart, 4H time frame, the price formed a bullish engulfing candle after a pullback. The formation of the pattern immediately triggered a bullish continuation. At some moment, the market became overbought, the formation of a bearish engulfing candle confirmed the initiation of a bearish movement and the market dropped heavily then. 📝Engulfing candle can be applied for scalping lower time frames, for intraday trading, or even for swing trading. Personally, I apply this candle on daily/4h time frames as one of the confirmations of the strength of the structure level that I spotted. Let me know, traders, what do you want to learn in the next educational post?
OANDA:XAUUSDEducation
by VasilyTrader
10
Mastering Engulfing Candle Trading 📚Engulfing candles are an essential feature of technical analysis in forex trading. An engulfing pattern happens when a larger candle engulfs the entire body of the previous candle, signaling a potential reversal of the current trend. Engulfing candles, which can be either bullish or bearish, are trusted by many traders for their reliability in predicting future price movements. However, to become an expert in engulfing candle trading, one needs to learn how to identify the best ones and leverage their body size effectively. In this article, we will look at the crucial steps to master this trading strategy. 🔎Identifying the Best Engulfing Candles One of the key aspects of trading using engulfing candles is knowing how to spot the strongest signals. The best engulfing candles should be resistant to the noise and inconsistent movements that can often occur in the forex market. The first step towards identifying the best engulfing candles is to focus on the size of the preceding candles. Candles with small bodies and long wicks produce too much noise and can lead to false signals. Instead, seek engulfing candles that develop after a significant price move, ideally with a larger body and shorter wick. Higher timeframe charts - like the 4-hour and daily - offer better accuracy in identifying reliable engulfing patterns. 💪Leveraging Body Size for More Efficient Trading The size of an engulfing candle’s body plays a crucial role in determining the strength of a trend. A larger body indicates more significant price movement and more active participation from traders. The size of the engulfing candle can also help ascertain the potential strength of the new trend. Bigger body sizes usually signal a stronger trend, whereas smaller bodies usually represent a more moderate price move. Traders can leverage body size to adjust their trading strategy – for instance, employing wider stop losses for more significant movements or using tighter take profit targets for moderate trends. I have collected couple of good engulfing candles that we were trading with our team. Take a closer look at their body sizes and the previous candles. Such candles alone can provide fantastics trading opportunities. 🔔Conclusion Engulfing candles are an essential tool in forex trading, and their size can significantly help traders identify the best entry signals. Traders who master engulfing candle trading can develop a more accurate technical analysis strategy that yields high returns. By continually analyzing candlestick patterns and using other technical analysis tools, traders can build robust investment strategies that enable them to become profitable forex traders. What do you want to learn in the next post?
TVC:GOLDEducation
by UnitedSignals
9