Does this fit the definition of a bearish engulfing pattern?I know it is supposed to cap an uptrend.
Engulfing Candle
NZDUSD #Forex #ForexTrader #ForexTrading #ForexChartWith the overall trend being down on the Daily TF
There have been numerous test of this 0.64 level and there is a nice shooting star candle followed by an engulfing candle.
IF this current 4HR candle can finish like this then i will be taking a short trade along with other reasons for my entry
Any questions feel free to ask
USDCHF #Forex #ForexTrader #ForexTrading #ForexChartIf the daily candle can close engulfing then i will be going short.
Reasons;
-Still uncertainty over the Dollar strength with the Chinese trade war going on.
-Struggling to break through the 1. level
-Each push towards that level has gotten weaker and weaker.
Lets see how it plays out.
Any questions feel free to comment or message.
NZDUSD #Forex #ForexTrader #ForexTrading #ForexChartLooking to go long if this the current 4 hour candle can finish bullish..
if it doesn't happen will look for a different candle stick set up but will have to be at the same level to complete the inverted H&S pattern.
Any questions feel free to ask
Ben
#PipGainFX
Confluencing factorsA few factors meet in confluence to form this trade setup:
1. Resistance broken and tested as support
2. Short term up-trend
3. Pullback to the fibonacci levels
4. Bullish engulfing bar completed
This type of setup entails buying once the high of the engulfing bar is broken with stops a few pips below the engulfing bar and the target at least 2x that of the risk.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg
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All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
AUDCHF bearish engulfing pattern within a descending channelAUDCHF just formed a bearish engulfing pattern, creating an opportunity to enter with a short position in this down-channel.
The price is slightly retracing, this gives us the opportunity to get a very good risk to reward ratio, while still placing a good stop loss, above a mid-range downtrend line, and a good take profit at the bottom of the descending channel.
Reversal at resistanceLower highs are being formed as can be seen on the daily time frame
Flipping to H4 I noticed a bearish engulfing bar that perfectly tested the resistance level. Given the major resistance holding strong this sell signal is somewhat significant.
For this type of setup the stop is best placed above the engulfing bar where the setup is deemed invalid and the target must be at least 2x the risk. When looking on the higher time frame, its noted that the potential for a bearish move much more than the initial target is very likely.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
GBPJPY - Engulfing on Supply Level - SELLHi traders,
I found an engulfing candlestick pattern confirmation on a supply level. I take a SELL trade on this.
I place a SL just above the high of the confirmation candle.
Entry: 134.244
SL: 135.908
TP: 128.106
On the way to the target are 2 weak demand levels, bur I belive they get broken. I'm giving daily updates on that trade. Stay tuned!
Please always use proper money management!
I recommend a max. risk of 2%
1st Outside Green Trend Bar In Over 3 MonthsToday was the 1st outside engulfing green trend day bar since June 10.
There have been outside green engulfing candles since then but they have all been very wicky, this was the first very full bodied trend bar.
Last time it happened it made a nonstop run to a somewhat major high from about 8k to 14k within about two weeks.
So I am seriously considering swing trading bullishly against the overall down trend with a target at Philakone's 8800 level.
Today I daytraded long and kept half my position open for an overnight mini swing. I am considering adding to that position at least until it gets to the other side of the pitchfork.
I am not so bullish that I think it will shoot straight to 20k from here. I especially will become very bearish if it gets into the 9300 region where it is likely to stall out and reverse.
Trade Ideas Position: EURJPY 5-0A Bullish 5-0 pattern staging for a bigger trade setup. An opportunity for me to engage on a longer-term trade, however, I do need a bullish engulfing candle to close to engage.
Do note tomorrow is a non-farm payroll data release. Traders who aren't comfortable should wait out for the news and usually, I will engaged 15-45mins after the release of non-farm payroll.
AUDUSD - Hanging Man / 2 Bar engulfing on Supply Level - SELLHi traders,
I found a supply level that was hit last week. The price was in a little consolidation.
I waited for a confirmation (candle formation) before entering the trade. The confirmation was a 2 bar engulfing pattern / Hanging Man pattern on the D1 Chart.
This post is a little late, as I forgot to upload the idea after I entered the trade.
You can use it as a supply and demand theorie.
Always remember to trade with proper money management.
I recommend a maximum risk of 2%.
Is it time to get SHORT...Is it time to get SHORT...
If we see a close below the structure level, it could be a good time to start thinking about ways to get short.
RTN BULLISHIf the price breaks down to the cloud this pattern is no longer valid!!
Info on the chart !!
USDJPY Lookig bearishGood opportunity for short this pair
we see a resistance zone on 108.100
Chart show a bearish engulfing
r/r 1 to 2
AUDCAD trading a double candlestick pattern on a down-channelAUDCAD testing the upper part of the down-channel, with a double candlestick pattern: a tweezers top and a bearish engulfing pattern.
Stop loss and take profit are very tight, since we are trading on the M15 within a very tight channel, so I suggest to check the spread first for your broker and avoid this trade if you have a spread that is over 1 pip.
Price action signalling the bears1. Support level broken
2. Tested as resistance
3. This is also previous resistance area
4. Bearish engulfing bar completed
5. Supported by 8 simple moving average
See the signal on the weekly time frame as well
Shorts are favored with this strategy and stops are best placed above the engulfing bar with targets at least 2x sl value
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg
Join me in Forex Bootcamp for live updates using the link below.
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
Bullish price action signal1. Price is in an up trend
2. Previous resistance become support
3. Bullish engulfing bar completed
4. Supported by 8 simple moving average
The high of the engulfing bar has to be broken for the trade to be valid. Stops for this strategy is best placed a few pips below the engulfing bar and targets must be at least 2x sl value...
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg
Join me in Forex Bootcamp for live updates using the link below.
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
Shopify - Bullish engulfing or double bottom?The growth>value might make a comeback.
Checking the Nasdaq (QQQ) and how the day ends will be important.
Fibonacci at workAfter reversing on the major support, the market has rallied higher and just hit the fibonacci zone after a pullback.
1. Pullback to fibonacci level
2. Bullish engulfing bar (needs to close as such to confirm)
3. Previous resistance tested as support
4. Moving average at play as well
This is a classic setup using a few factors in confluence. The engulfing bar is to be confirmed and the reward must be at least 2x the risk - stops are best placed where the setup is invalidated (few pips below engulfing bar)
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg
Join me in Forex Bootcamp for live updates using the link below.
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
Bearish engulfing barThere are a few factors in play with this setup. The pin bar striking the moving average on the weekly time frame around resistance indicates a bearish signal from price action:
H4 has a few clear characteristics that is classic of a bearish setup:
1. Bearish engulfing bar
2. Pinning moving average
3. Pinning fibonacci 50% pullback level
When the above is kept in mind after the bullish structure broke down (trend line broken) there are many factors meeting in confluence signalling the bears. For this type of setup the stops are best placed a few pips above the high of the engulfing bar and the target must be at least 2x that of the risk. The initial target can be seen as provisional while the 660 pip mark from the entry point is a likely secondary target.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg
Join me in Forex Bootcamp for live updates using the link below.
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
EURGBP trading the rejection on the down-channelEURGBP getting again in the upper part of the down-channel, giving us another opportunity to plan our short position.
There is a bearish engulfing pattern right on the top of the channel, so we can enter right now and play with a very good risk to reward ratio.
AUDUSD resistance to hold?AUDUSD just tested a resistance that is formed by the last important swing high. After testing that level, we had a bearish engulfing pattern, sign that sellers are attempting to push the price down.
Interesting battle between buyers, who seemed to be strong with the last up-movement, and sellers, who seem to find convenient the level 0.6808 to place their short positions.
EURAUD bullish engulfing pattern pushing the price up?EURAUD is in a short term pennant and we just had a bullish engulfing pattern at the bottom of it.
With a risk to reward ratio that is better than 1:2, this could be a nice trade to catch!
