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.
Today will be the day that we broke below our major support : $ 6,000. As we could have expected it, there was a lot of liquidity for longs below 6k. Indeed, a lot of stop losses were triggered when we broke 6k and retail traders market sold (by panic) or to play the breakout. This is a typical move that market makers can take advantage of by pushing the price ...
Bitcoin dumped really hard today. As a lot of people was expecting a break of the $6,000 major support (Bitfinex) and thus opened new shorts as were coming near 6k anticipating a break, bulls defended their support quite well.
We made a 4HR bullish Swing Failure Pattern (broke below, closed above) which could indicate that market makers filled their longs below ...
Charles Ponzi here.
You might have read in the Fitchburg Sentinel of July 31, 1920 I would not reveal my business secrets.
Well today, nearly 97 years and 11 months later, I finally decided to let you know my secret.
It is going with the trend and looking at signals that work out very often, and looking at high time frames, the higher the TF the better the ...
Looking for bulls to push PHM back to $29.12 + this afternoon and bullish confirmation on 25-June. Hoping restest is for a higher low (no lower than $28.79) to finish right shoulder. Purchase at neckline. 30 Day Price target $31.45, stop loss at $28.62.
Lets get rid of all the noise... all the trends... all the indicators...
And lets trade some good o' fashion Price Action.
Spinning Top closed on the daily.
>>Dump it.
An inside bar/fake-out setup formed in the EURCAD minor pair last week. These types of setups can be very powerful false break signals where large numbers of retail traders were tricked into going one direction and price immediately whips in the other direction, trapping these traders. That can provide strong movement in the other direction as these traders are ...
An inside bar has formed off of a near term support level. Price is consolidating in the long term but in the short term there is some price bullishness. This pattern formed after a small pullback and could set us up for the next leg higher. As soon as price breaks out of the mother candle I will begin moving my mental stop up at logical points and ride this as ...
ETHUSD update: Price has reached the bearish trend line and is now hesitating. This is not unusual and was expected, that is why we placed our swing trade target at 540. The question is: what is price more likely to do from here? Lower low? Higher low? Or continuation higher?
In case you have not been following our swing trade on S.C., it reached its 55 point ...
The trend of the last two weeks is really bearish for AUD/USD. Although, a retrace up has occurred in the US session. That retrace looks almost complete now for four reasons:
1. Stochastic is almost overbought
2. There is some decent resistance below 0.74
3. The previous candlestick is a small bearish reversing signal
4. Most importantly, the 20 SMA is providing ...
