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Evening Star

Perfect Entry & Exit PointsAfter finding appropriate RSI and MACD entry points, traders benefit from analyzing key candlestick formations. Below are the candlestick reversal formations detailed in this chart. Candlestick Formations: Two Black Gapping : appears after a notable top in an uptrend, with a gap down and two red bars. It predicts lower lows with an accuracy of 68%. Three Black Crows: Bearish Three Black Crows shows reversal near the high of an uptrend. It can trap bulls seeking further momentum, or irrationally exuberant buyers (FOMO). It predicts the decline to a lower low with 78% accuracy. Bearish Evening Star: Starts at a long green or white bar, that carries an uptrend to a new high. Make sure low volume follows, with smaller hammer-like bar. Predicts lower price with 72% accuracy. Abandoned Baby: Appears at the low of a downtrend, after a series of lower lows. As it gaps lower, no new sellers appear. This triggers recovery at 70% accuracy rate. Abandoned babies have a 70% chance of surviving if they're with G/god.
D
by Grandmaster76
1
USDCHF SELL Swing to 1.27 ext .9550With the USD being overbought and having bad news this morning an evening star candlestick formation was create and confirmed this evening the ext is at .9550 which is the target I would look to go for risk/reward is a 1 to 3 if you place your stop around 1.000 level. If you have not gotten in I would wait for a pull back on the 2hr chart to get in. If you agree PUNCH the LIKE button and UPPERCUT to FOLLOW button. Here at Carter Kyle Capital we are the Fighters of Financial Freedom helping 1 trader at a time. What are YOU fighting for? bit.ly Trading FOREX on margin carries a high level of risk, and may not be suitable for everyone. Past performance is not indicative of future results. Carter Kyle Capital will not accept liability for any loss or damage directly or indirectly from reliance of information.
Short
by CarterKyleCapital
4
Trade setup: USOIL short term perspectiveah sorry, I wasn't impulsive enough to give my perspective on this trade setup, but we've had a sudden move to the upside, however, we rejected a key long term trendline as our 3rd drive, also 4HR candle spiked and closed below 53.00 as a shooting star, ideally if we could get further spikes into the highlighted region we could enter for short trades to the targeted D extension which is at a key psychological/support level. -Risk reward is great as usual with a 1:4 ratio
TVC:USOILShort
by danresdidualfx
forexTrdr EURUSD - LOWER HIGH DOWNTREND CONTINUEMorning traders, Back into the market after a long weekend in both U.K. and U.S. and we are looking at the continued downtrend of Euro versus US dollar. A series of lower highs continues to form with support around 1.11 area providing a short opportunity of 90 pips. We also have the formation of an Evening star candle or tweezer top if looking on longer time frames. Both point to a bearish pattern forming. Additionally we have heightened tension with Italian government and the EU likely to add negative headlines over the coming trading week. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Metatrader and most broker platforms. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Short
by forexTrdr
Evening Star Formation USD/JPY Short 4HR 61.8% Fibonacci LevelAnalyising this pair we have been in a downtrend for a couple of weeks and I noticed a slight pullback occuring yesterday. We can see that price has respected the 61.8% Fibonnaci retracement level and created a evening star formation which is a big indicator that price is going to make more ground to the downside. I have drawn in a counter trendline I will be looking for a clear break of this level before entering the trade targeting the first take profit level (108.745). Be patient and wait for a clear break of this level. You can also wait for a slight pullback and rejection of the EMA or the countertrendline to confirm this bias if you want to trade more safe.
Short
by FXEntries
forexTrdr EURJPY- CANDLESTICKS LIGHT UP THE WAY FORWARDGood morning traders, Looking to change up our recent technical analysis examples this time with a clean trade on Euro versus Japanese Yen. The beat on Chinese gdp and Industrial production gave a risk on tone overnight leading to Yen weakening but also, for this pair, an Evening Star candle forming on the daily over the 15th and 16th. Evening star are early indicators of a future bearish trend forming. This coincides with Bearish Harami pattern forming on the 4 hourly on Friday as suggesting that the pair is due to correct lower. Other technical indicators also line up such as Ichimoku cloud (trading significantly above it), RSI, stochatsics and long running resistance levels to the upside. As always this is not a trade recommendation and simply technical observation. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Short
by forexTrdr
TURNING PRO CHALLENGE TRADING STRATEGYEURUSD - PRO CHALLENGE TRADING STRATEGY WEEKLY CHART Current Price at Weekly Sup/Res level of 1.1300 DAY CHART Previous Evening Star candle patterns created Bearish moves Watch for current Day candle to close Bearish to complete a 3rd Evening Star Pattern Previous day candle was a Bearish Pin Bar These candle patterns will confirm a Bearish continuation move short 1H CHART Add Standard Pivot Point indicator Price is returning down to Weekly S/R level and current Pivot level This created my 1st Sell Take Profit zone where I will close 1/2 of my trade Watching for Price to break below these two support levels 2nd Sell Stop @ 1.1280 Finale Take Profit close all trades @ 1.1235 Find SL
Short
by Tradingstrategyguides