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.
Pin bars and Dojis
Easy sell and buy signals on each of the 4h candles highlighted
First shooting star/pin bar rejection candle on major level, then 25 pip + easy drop
Second doji in an uptrend retesting 14/50ema and 25 pips up
50 pips one day one pair!
Just from 4h tf
From a huge bearish move last Friday ( 14/12/2018 ) to a potential retest of resistance at 1.14200 this week has been nothing but the bulls.
Let's wait and see as this week is far from over as FOMC tomorrow could be a fundamental changer as we continue with the last trading week of the year.
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Price has been trading within this major uptrend we noticed that price has bounced off of our ascending trendline along with our channel support line which is our area of confluence on the 4h we got a morning star pattern my order has been triggered.
I know that the pattern is not completed yet but I suppose that the engulfing will develope further this week as we have retraced the former decline from 24448 and strted another drop afterwards. This should result in a further fall finally.
Here we got a multiple conviction trade!
Aussie hit its daily 0.618 spot and broke the inside day to the upside just now,
which makes me interested in taking some long trades today!
As I missed the inside day breakout, I'll turn to this 4hr pullback long trade!
Let's see how it goes!
I have been anticipating this setup to make a move lower to the post-Brexit lows. Let's see if it will work out.
Date Pair Direction Trade Trend Level Signal Entry
2018-12-17 GBPUSD Short With trend Down Horizontal Resistance Inside Bar break
Finally BCH has broken the TRI-ANGLE
I am very happy to see this cause I have invested in BCH mining this April.
I bought 50 Ant Machines S9 from Bit-Mainland and every day they are working hard to earn BCH.
I believe the price will rally to 1000 at least
and it is good for me to sell my BCH at that level.
To all thoese mining investors: Please continue to ...
Not a fan of four hour charts, however the head and shoulders pattern is a lot clearer here than on the 1-day chart. Also I'm reminding myself we saw a near 600% increase since the middle of November.
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