Candlestick Analysis

Candlestick analysis focuses on individual candles, pairs or at most triplets, to read signs on where the market is going. The underlying assumption is that 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 the 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, can be used to determine a signal for the price action to come. Common candlesticks that are used in this analysis are dojis, spinning tops, hammers, engulfing candles, pinbars and inside bars.
Alexander_Nikitin Alexander_Nikitin TOP AUDCAD, 30, Long ,
368 21 28
AUDCAD, 30 Long
AUDCAD. Deep crab

Mates, here's the deep crab pattern. Look at this nice little hammer candle that failed to close below the Terminal Price Bar.

Alexander_Nikitin Alexander_Nikitin TOP NZDJPY, 15, Short ,
NZDJPY: nzdjpy. bat pattern
517 10 39
NZDJPY, 15 Short
nzdjpy. bat pattern

Mates, the pattern is completed as we have the Terminal Price Bar. The Bar is a shooting star with the nex candle that failed to close above its high. short at market.

mooselaz mooselaz PRO USDCAD, 60, Long ,
USDCAD: Long - channel uptrend
83 0 8
USDCAD, 60 Long
Long - channel uptrend

Just got an engulfing bullish candle with Stoch RSI and RSI oversold. Close of a bullish candle on 1 hour has occurred at the bottom part of an uptrend channel. The big picture is this is probably just a retracement of the previous day's dive, Looking for two positions as indicated by the chart.

orthogonal orthogonal ETHUSD, D, Long ,
187 2 4

Close to a flag pendent breakout with a morning star closing yesterdays price possibly indicating trend reversal from the recent decline. Yesterdays flash crash makes technical analysis quite difficult as many exchanges are backlogged with ETH orders for pending selling and buying. In general this is a fundamental indication that the ETH network may not be as ...

FxWirePro FxWirePro PRO XAUUSD, M,
XAUUSD: Gold’s double top pattern, shooting star & bearish DMA crossover
286 1 10
Gold’s double top pattern, shooting star & bearish DMA crossover

Gold’s double top pattern, shooting star and bearish DMA crossover signal more slumps – Construct tunnel spreads for speculation: On daily terms, the price of yellow metal keeps dipping ever since it has formed the double top pattern, and now is on the verge of hitting 3-weeks lows. Top 1 at 1295.46 and top 2 at 1296.06 levels. Well, on the weekly terms, the ...

FxWirePro FxWirePro PRO EURUSD, D,
EURUSD: EUR/USD Chartpack - Technicals & Trade Setup
249 0 15
EUR/USD Chartpack - Technicals & Trade Setup

EUR/USD bears resume with shooting star and spinning top after equi-distant travel of channel, interim rallies to hinder below bearish DMA crossover: On daily charts, we don’t encourage longs despite today’s upswings. Instead, we are slightly bearish bias due to following technical indications. Shooting star & bearish engulfing candles were traced out 1.1217 and ...

riiiot riiiot PRO EURUSD, 240, Long ,
47 0 6
EURUSD, 240 Long

Probably next week long opportunity on EURUSD. 1) Spike and channel 2) 2-3 push down 3) Wedge shaped channel 4) trading range PA (a lot of doji, prominent tail candle etc..) If the price approach to the level fast and strong wait for micro double bottom

Sebastrading Sebastrading EURAUD, 60, Short ,
36 0 6
EURAUD, 60 Short

- Retesteo de resistencia, previamente zona de soporte - Posible rebote en lt - 61.8% de fib - Bearish engulfing en H1 - Posible Hanging man en 4H

FxWirePro FxWirePro PRO JPN225, D, Short ,
JPN225: Nikkei225 forms shooting star, good to sell on rallies
64 0 5
JPN225, D Short
Nikkei225 forms shooting star, good to sell on rallies

It is good to sell on rallies around 20150-20170 with SL around 20320 for the TP of 19670/19300

albertokundaye5 albertokundaye5 NZDUSD, D, Short ,
NZDUSD: A potential reversal to the downside may have already started
46 0 5
A potential reversal to the downside may have already started

Hey guys. Hope you're making money and having fun! Technically, evidence of a potential reversal to the downside is stock pilling against the Kiwi. It's all annotated on the chart, but just to recap: We had a bearish pin-bar on June 19 In the last 24 hours, the pair began trading below support from almost a month ago (May 24, precisely) Also, we've seen ...

CostaRica CostaRica USDJPY, D, Long ,
USDJPY: Will USD/JPY still retrace or will it continue to go long?
27 0 5
Will USD/JPY still retrace or will it continue to go long?

Well well well…this is only my idea Monthly Chart When I was checking the pair on the monthly time frame, I saw the candle on June 1st 2017: Open 110.765 High 111.781 Low 108.808 Close 111.259 (To me, market rejected that price because it bounced up leaving a wick as if it was ready to go long) Funny because, just last month (May 1st 2017) it seemed as ...

REY_forex REY_forex AUDUSD, 240, Long ,
AUDUSD: Strong Engulfing Candle
18 1 3
AUDUSD, 240 Long
Strong Engulfing Candle

RR: 1.32

arieg1985 arieg1985 PRO GBPAUD, 60, Long ,
GBPAUD: Potential Long Position for GBP/AUD_Trade Plan 2017.06.22
20 0 4
GBPAUD, 60 Long
Potential Long Position for GBP/AUD_Trade Plan 2017.06.22 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both showing the overall trend is still down with price holding far below MA200. However, in D1, price seems hold and currently rejected up with Bullish ...

DanielePascarie DanielePascarie PRO USDSEK, W, Long ,
USDSEK: USDSEK Long reversal already playing Out!
15 0 4
USDSEK Long reversal already playing Out!

Weekly Downtrend reversed at Monthly Demand Zone, now bigger Picture Monthly Uptrend playing out. Textbook reversal with Weekly Bullish Engulfing and + Weekly Hammer Candle signaling that Bulls have taken control now. Watch out for new Daily Demand Zones on the way up, if Daily TL breaks, expect a retest of the bottom.

MatthewHoganTrading MatthewHoganTrading AUDJPY, 240, Long ,
12 0 4
AUDJPY, 240 Long

A long opportunity has presented itself on the 4H timeframe of AUDJPY. It meets all the rules for my strategy: Trend: it is with the trend (shown by trendline and 100 EMA) Value: it is at strong previous resistance Trigger: Hammer formation Risk: 1% Reward:2.6% Targets: Take targets at previous structure Stops: underneath previous structure with some room ...

FxWirePro FxWirePro PRO USDJPY, M,
USDJPY: USD/JPY Chartpack - Technicals & Trade Setup
89 0 3
USD/JPY Chartpack - Technicals & Trade Setup

USD/JPY bearish engulfing, gravestone doji and shooting stars signal weakness in major trend, expect minor rallies on bullish DMA crossover: Negligible interim rallies stuck in the tight range, while momentum oscillators’ signal selling pressures and the major trend has again resumed bearish sentiments (refer both daily and monthly charts). The price behavior ...

tombitudio tombitudio AUDCAD, 15, Long ,
AUDCAD: AUDCAD Long Opportunity
31 0 3
AUDCAD, 15 Long
AUDCAD Long Opportunity

Entering this trade because of this reversal signal only. 50% retracement finds price action way way back. Time to prove if candlestick patterns really are worth something.

Mustapha87 Mustapha87 PRO GBPCAD, 240, Long ,
12 0 3
GBPCAD, 240 Long

Downward structure broken, double bottom engulfing candle

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