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.
valdeano valdeano AUDUSD, W, Short , 18 hours ago
AUDUSD: Pinbar detected on weekly chart AUD/USD
95 3 6
AUDUSD, W Short
Pinbar detected on weekly chart AUD/USD

it's been 3 week the price decline from supply zone, and there is a pinbar, we look entry at 50-61,8 fib

valdeano valdeano BTCUSD, D, Short , 16 hours ago
BTCUSD: Bearish Doji Bitcoin
186 0 7
BTCUSD, D Short
Bearish Doji Bitcoin

doji at daily chart, short possibilities

TerryHarmonicTrading TerryHarmonicTrading BTCUSD, D, Short , a day ago
BTCUSD: Bitcoin - Bearish Butterfly completes at 1240
245 0 5
BTCUSD, D Short
Bitcoin - Bearish Butterfly completes at 1240

Hey guys, this is a follow up to my post on bitcoin written a few months back. I predicted a drop so that I could buy around $600 but it did not happen. Going forward, it has broken up to an all time high. This is how I will potentially trade this Pattern identification I see a bearish butterfly completing around 1240. This is a level where sellers are ...

Dyekid217 Dyekid217 PRO GBPJPY, 240, Short , 11 hours ago
GBPJPY: GBP/JPY Wedge Breakout
54 0 3
GBPJPY, 240 Short
GBP/JPY Wedge Breakout

We have been trading within a nice wedge since Mid January. We finally got a breakout this week and a nice bearish engulfing bar. I'm looking for a retrace back toward 140.50 to find some price action and reentry short. UK yields have been falling hard and more money is flowing to safe havens like Gold/Yen due to the uncertain state of the global economy.

Apple22 Apple22 EURUSD, D, Long , 6 hours ago
EURUSD: EURUSD Double down
50 0 3
EURUSD, D Long
EURUSD Double down

Double down on major support line pin bar and of course MAs are still Bullish Fib retraced @ 0.618

hongzx123 hongzx123 GBPNZD, D, Short , a day ago
GBPNZD: GBPNZD Short - 23 Feb 2017
9 0 3
GBPNZD, D Short
GBPNZD Short - 23 Feb 2017

Background: - Bearish engulfing reversal candle after testing 50MA resistance below horizontal resistance @ 1.748 Entry: - Sell stop 20 pips below the signal candle (Set up triggered on 23 Feb 2017 and stopped out on 24 Feb 2017) SL: - 23.6% fib level of the signal candle @ 1.7428 PT: - Set near the horizontal support @ 1.697

CandleSticks CandleSticks EURCAD, 120, Long , 9 hours ago
EURCAD: EURCAD long idea
8 0 3
EURCAD, 120 Long
EURCAD long idea

expecting price to bounce off the level and rise

CandleSticks CandleSticks CADJPY, 120, Long , 9 hours ago
CADJPY: CADJPY LONG IDEA
5 0 3
CADJPY, 120 Long
CADJPY LONG IDEA

LONG IDEA EXPECTING PRICE TO RISE

CandleSticks CandleSticks AUDCHF, 120, Long , 9 hours ago
AUDCHF: AUDCHF LONG IDEA
5 0 3
AUDCHF, 120 Long
AUDCHF LONG IDEA

LONG IDEA

hongzx123 hongzx123 NZDJPY, D, Long , a day ago
NZDJPY: NZDJPY Long - 22 Feb 2017
20 0 2
NZDJPY, D Long
NZDJPY Long - 22 Feb 2017

Background: - Bullish hammer at horizontal support @ 81.00 area within a rectangular consolidation in a uptrend. Entry: - Buy stop at 81.65 above the bullish hammer on 23 Feb 2017. (Entry triggered on 22 Feb 2017 and stopped out on 24 Feb 2017 by the bearish marobozu SL: - 20 pips below the signal candle @ 80.64 PT: - Set at the rectangular resistance @ 83.5

CandleSticks CandleSticks GBPUSD, 120, 6 hours ago
GBPUSD: GBPUSD BOUNDE OR BREAK
17 0 2
GBPUSD, 120
GBPUSD BOUNDE OR BREAK

IDEA

CandleSticks CandleSticks USDCAD, 120, 6 hours ago
USDCAD: USDCAD IDEA
7 0 2
USDCAD, 120
USDCAD IDEA

IDEA

CandleSticks CandleSticks AUDJPY, 120, Short , 6 hours ago
AUDJPY: AUDJPY SHORT IDEA
3 0 2
AUDJPY, 120 Short
AUDJPY SHORT IDEA

IDEA

CandleSticks CandleSticks AUDNZD, 120, Long , 6 hours ago
AUDNZD: AUDNZD LONG IDEA
2 0 2
AUDNZD, 120 Long
AUDNZD LONG IDEA

LONG IDEA

MattWalz MattWalz AUDUSD, W, Short , 2 hours ago
AUDUSD: AUDUSD weekly outlook
13 0 1
AUDUSD, W Short
AUDUSD weekly outlook

For the past 3 weeks price has tested and rejected the monthly resistance of 0.770. With another high test doji, price could see bearish movement throughout next week. My confirmation of this will be a break below 0.7609 on the lower timeframes.

Rocketman Rocketman PRO EURCAD, D, Short , a day ago
EURCAD: EURCAD: SHORT UPDATE! Fundamental Trade  3:1 Reward to Risk
24 1 3
EURCAD, D Short
EURCAD: SHORT UPDATE! Fundamental Trade 3:1 Reward to Risk

This is a Re=Post of my Fundamental Analysis and Technical Analysis A good currency pair is EUR/CAD. One shows signs of weakness ( EURO -0.19% ) and the other shows signs of strength (CAD). Fundamental: (1) Housing Starts up (2) Employment Change Up <-- The Canadian central bank meeting ists employment goals!! (3) Trade Balance (4) After reading the ...

Rocketman Rocketman PRO USDCHF, D, Long , a day ago
USDCHF: USDCHF: Pin Bar on Botton of Daily Channel
27 0 2
USDCHF, D Long
USDCHF: Pin Bar on Botton of Daily Channel

USDCHF: Pin Bar on the bottom of the daily channel.. This one is pretty obvious! (1) Feb support (2) Bullish MACD (3) Bullish RSI (4) Bottom of channel (5) Past Resistance becomes future Support

Rmonroe Rmonroe USDJPY, 60, Long , a day ago
USDJPY: Finished 5 waves to downside. ABC Correction should follow.
53 0 5
USDJPY, 60 Long
Finished 5 waves to downside. ABC Correction should follow.

I've been following Elliott wave on USDJPY for the past week now and have had consistent, profitable trades. It appears that Weve just finished 5 waves to the downside and now were moving into an ABC correction to the upside. Wave 5 may have more bearish room to go but we should see a correction to the upside soon.

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