Candlestick Analysis

Candlestick analysis focusses on individual candles, pairs or at most triplets, to read signs on where the market is going. This is possible because all known information is already reflected in the price. The technique is usually combined with support & resistance. Each candle contains information about 4 prices: the high, the low, the open and the close. A candle body reflects the net price movement between open and close while the wicks show reversals that occurred within the timeframe of a candle.

Each candlestick, therefore, provides an easy-to-decipher picture of the price action. The length of the wicks versus the length of the body in combination with whether a candle is bullish or bearish, is used to determine a signal for the price action to come. Common candlesticks that are used in this analysis are dojis, spinning tops, engulfing candles and inside bars.
DLavrov DLavrov GBPUSD, D, 21 hours ago
GBPUSD: GBPUSD Trading Idea
258 3 23
GBPUSD, D
GBPUSD Trading Idea

It looks like we'll have a reversal candlestick pattern. If price bounces from the cloud and it will be a buy signal. For confirmation long trades we'll need RSI reversal and ADX above 20 level. Profit target will be at the resistance level. But if price drops below the cloud, it will be a sell signal with profit targets at the support levels. DMI will have to ...

Tom_Killick Tom_Killick PRO GBPAUD, 240, Long , 17 hours ago
GBPAUD: GBPAUD watch for a buy
97 0 9
GBPAUD, 240 Long
GBPAUD watch for a buy

Hi traders, GBPAUD looks good for a buy. It is accumulating at a key retracement level and the candlestick signals are showing gentle buying pressure after the big selloff which I expect to create buying pressure to at least the highs of the previous swing. Please like & follow me, to motivate me to post more new content! Best regards, Tom_Killick

zippy1day zippy1day BTCUSD, 240, 12 hours ago
BTCUSD: BTC Tri-Star Doji in a line
94 0 9
BTCUSD, 240
BTC Tri-Star Doji in a line

Described as being an indecisive point in the market in an uptrend so bearish. Also reached targets on Bullish Butterfly and below 200 day EMA and the Ichimoku cloud so still have Diamond Top targets still in mind over the coming days or weeks?

Roker1 Roker1 PRO EURAUD, 240, Long , 18 hours ago
EURAUD: Structure Exposed!!
54 0 8
EURAUD, 240 Long
Structure Exposed!!

Hi guys, this is a simple structure trade: you can see price is coming back to retest the former resistance that once broken should turn into support. This is also lining up pretty well with a 618 retracement and a psychological number (1,40). You can see also a pin bar just formed with OVERSOLD condition. All those clues together make this trade a nobrainer. If ...

Roker1 Roker1 PRO NZDJPY, 60, Long , 10 hours ago
NZDJPY: Head & Shoulders on NZDJPY!!
32 0 8
NZDJPY, 60 Long
Head & Shoulders on NZDJPY!!

Hi guys, here it's an Head&Shoulders pattern on NZDJPY. I'm very interested on this cross because i think we have a nice rally ahead. On the daily price has formed 3 consecutive candles with buying pressure and we also have a divergence on the RSI. I patiently waited for a break of structure as a confirmation and that happened today. Now there are two levels where ...

FxWirePro FxWirePro PRO GBPJPY, M, Short , 11 hours ago
GBPJPY: GBP/JPY downswing drifts through descending triangle
128 0 6
GBPJPY, M Short
GBP/JPY downswing drifts through descending triangle

GBP/JPY downswing drifts through descending triangle, attempts of bounces restrained below DMAs as bearish patterns pop up: This week the pair hasn’t been moving anywhere beyond 139.399 northwards nor even 137.500 on southwards as the triangle pattern getting contracted. The shooting star at 139.570 & gravestone doji at 139.425 levels restrain rallies below ...

taylorplusdavis taylorplusdavis XAUUSD, D, Short , 14 hours ago
XAUUSD: Gold bearish engulfing candle/Confluence
66 0 7
XAUUSD, D Short
Gold bearish engulfing candle/Confluence

Good luck, traders!

dailypriceaction dailypriceaction PRO EURUSD, 240, Short , a day ago
EURUSD: EURUSD Bulls Capitulate at 1.0825
38 0 7
EURUSD, 240 Short
EURUSD Bulls Capitulate at 1.0825

EURUSD bulls have lost the 1.0825 handle. It started with yesterday’s close at 1.0812 and continued with today’s high of 1.0825 which was met immediately by selling pressure. The 1.0825 area is one I mentioned over the weekend. It’s a level that dates back to 1999 and was also responsible for the February 2nd bearish pin bar earlier this year. That sell signal ...

GeorgeMendez GeorgeMendez EURJPY, 60, Short , 13 hours ago
EURJPY: EURJPY
30 0 6
EURJPY, 60 Short
EURJPY

Selling EURJPY - Retested double top neckline - Bearish engulfing candle - 50% Retracement Level - Broke trendline

SvetInvesticij SvetInvesticij EURUSD, D, 6 hours ago
EURUSD: EURUSD Bulls Capitulate at 1.0825
51 0 5
EURUSD, D
EURUSD Bulls Capitulate at 1.0825

EURUSD bulls have lost the 1.0825 handle. It started with yesterday’s close at 1.0812 and continued with today’s high of 1.0825 which was met immediately by selling pressure. The 1.0825 area is one I mentioned over the weekend. It’s a level that dates back to 1999 and was also responsible for the February 2nd bearish pin bar earlier this year. That sell signal ...

candlesticker candlesticker PRO USDCAD, 240, Long , 17 hours ago
USDCAD: USD/CAD Short Term Long Entry
31 0 5
USDCAD, 240 Long
USD/CAD Short Term Long Entry

Deficit of oil inventory in U.S data brought the pair down to support. Support has been holding, and a bullish candle is visible on the 4hr chart, creating a potential long entry.

GoldBands GoldBands PRO GC1!, D, Long , 11 hours ago
GC1!: Gold Stays Bound within Monday's Range
23 0 5
GC1!, D Long
Gold Stays Bound within Monday's Range

Gold closed down 2 points on Wednesday, once again finding support at the confluence of moving averages and the inner Bollinger Band. While not moving lower than support, price stayed contained within Monday's candle and is setting up for a potential 'Rising Three Methods' pattern. This pattern starts with a long green body that is followed by three small body ...

scalpking scalpking EURAUD, D, Short , 17 hours ago
EURAUD: EURAUD TO THE DOWNSIDE
23 0 5
EURAUD, D Short
EURAUD TO THE DOWNSIDE

61.8 rejection, bearish engulfing. LH-LH-LH. Once that CTL breaks, thatll add on a new confirmation.

EMNX EMNX GBPUSD, D, Long , 12 hours ago
GBPUSD: LONG GBPUSD
22 0 5
GBPUSD, D Long
LONG GBPUSD

PINBAR FORMED ON NEW SUPPORT LEVEL, ENTRY ON 50 PERCENT OF PINBAR

dailypriceaction dailypriceaction PRO AUDJPY, D, Short , 2 hours ago
AUDJPY: AUDJPY Takes on 85.35 as New Resistance
12 0 5
AUDJPY, D Short
AUDJPY Takes on 85.35 as New Resistance

We discussed the AUDJPY exactly one week ago. At the time the pair had just broken support at 85.35 and looked determined to test the next key support at 83.73. With this in mind, we were watching for a selling opportunity on a rotation back to new resistance. Unfortunately, that retest never came. But the pair did reach a low of 83.81 this past Tuesday, just 8 ...

obaroedafe obaroedafe EURUSD, W, Short , 5 hours ago
EURUSD: EURUSD WEEKLY SHORT
63 0 4
EURUSD, W Short
EURUSD WEEKLY SHORT

is that a shooting star formation in the horizon? You're damn right it is. I'm going short till 1.06

EvanJones EvanJones PRO GBPUSD, 240, Short , 9 hours ago
GBPUSD: A repeated Price Action Pattern (this time a reversal)
45 0 4
GBPUSD, 240 Short
A repeated Price Action Pattern (this time a reversal)

My recent post regarding price action and how you can determine changes in the direction was recently shown, showing a doji followed by a pin bar which turned into a bullish candle. Since then price has oscillated and not taken any momentum in direction. The same is for today where a doji followed by a decent sized bearish candle indicating downward movement. The ...

Jakub_Kona Jakub_Kona EURCAD, D, 20 hours ago
EURCAD: EURCAD
30 0 4
EURCAD, D
EURCAD

(29.3.2017) little bit late entry, but with higher propability (because of bearish engulfing pattern, followed by big red candle and suppport has became resistance)

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