Candlestick Math - V1.0
Sometimes , you need to do some candlestick math to drown out the noise between the candles . This helps in better decision making overall by understanding the effect of the last few candles.
Candlestick Math creates a new blended candle which can be interpreted as a summary of the defined period . The indicator uses Lookback period as...
This post is not a trading idea, but for our learning together.
1. False Break
In general, many of us know that the false break is when the price breaks through the Resistance/Support area but the candle fails to close outside that area. When this happens the candle will create a wick.
However, a false break can also mean the candle has successfully closed...
With falling US markets and equity, EURUSD are also showing signs of reversal after a long bullish rally. As FED cuts interest rates, it is likely to have a significant impact on the dollar. This is effect is immediately shown in the dark cloud cover formed in the 4 hour chart at the last 2 trading sessions of the previous week, both of which have very high...
AUDNZD Last Week, The Daily Time Frame Closed Above The Old Down Trend Line, After Hitting The Up Channel Trend Line
Forming A Bullish Candlestick Formation on The 4 Hour Time Frame,
Now The Market Have Come Back To The Backside of The Down Trend on The 4 Hour TF And Formed Another Bullish CSF
(Bullish Engulfing Candle) With A CTL Break,
What We Have:
Confluences for Trade:
- Strong Bearish Candle Formations
- Price broke M/T Trendline (Since Sept 2017)
- Fundamentally, Brexit uncertainty provides a bearish outlook on GBP while AUD may improve on higher chances of Trump and Xi get something agreed on regarding trade and with a more dovish FED, AUD being an...
iN my Non-Professional Opinion $644x is a reasonable entry point for a quick short on the bitcoin...??
Gud Luck & A wiseman once said "to always keep tight SL when/IF shortin' BTC...."
IDK,, MayB, round $65xx-ish.
ought 2B gudd... MayB
On the 4H chart we see 3 consecutive dojis/spinning tops, with another one forming as well. This indicates a lot of indecision in the market currently, and a big move could be coming in either direction. In my opinion, we will break below the 21 EMA that has been tested a couple times already, and head further down. My target remains the same: 6200-6300.
AUDJPY failed to break the level it's sitting on on a previous occasion and is now making a double top formation. Then there's the uptrend touch. It will be confirmed if and when the Sell Entry level is broken and the trendline as well, meaning that's my cue to go short. Target is the Swing low of the impulsive move leading to the first top.
Just an idea, not a...
We have three confirmations of AUD/USD Uptrend:
1. Before breaking the monthly support 0.79250 we see that it retraced from the 61.8 Fib and now it is continuing the uptrend.
2. We see AUD / USD Daily Candle Closed above 0.79250 Monthly Support and breaking the counter trend line.
3. Moving Averages on H4 Timeframe confirm a continuation of the uptrend...
EUR has been bullish for a while now and there doesn't seem to be much reason for this stopping, especially with a lot of high impact GBP news this week which we expect to be negative therefore given the EUR the push it needs to run up to our TP area.
We expect the market to fall, retest the Monthly support area where we will be looking to find a bullish entry point.
Reasons for short
1) Daily Evening star formation at a key point
2) Weekly RSI Heavily Overbought
3) 3 Accumulation and Distribution phases complete
Trade safe and do your own due diligence before entering a trade
For further insights join me on
If you are familiar with candle stick patterns there is interesting one here which deserve attention.
This is weekly chart (my opinion is that the bigger intervals of candle stick pattern or formation are more reliable then the smaller one)
I consider “rising three method” on weekly chart as a strong suggestion for continuation of bullish trend. It is not 100%...
Just sold AUD/USD into the direction of the underlying downtrend.
- Price is currently trading at a major downtrend line
- Price continuously trades lower. Indicated by red & pink support lines
- 240H shows kind of triple top + Candlestick pattern