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Doji

NZDUSD Strong Reactions To Support & Resistance LevelsLevel A: 0.71087 - 0.71499 Level B: 0.72118 These were determined by 4 or more "touch and retrace" points on the 4 hour chart. Three Major reactions were observed with price action around these areas, and are labelled on the chart. Scenario 1: When a trend drives the price toward Level A the trend weakens, and we see more signs of uncertainty as to where the price is moving more often a "doji". Trend analysis indicators such as the Average Directional Index respond to this late. A drop down to lower timeframes shows more candlestick and chart patterns such as hammers, and double tops/bottoms. Scenario 2: Downtrend moving sideways before trend continuation/reverse: When the bounce provided by the levels is not strong enough to reverse a trend, and the markets begin to move sideways, signs of uncertainty again show, with longer wicks as the bulls and bears battle for control, again in lower timeframes. More potential trades lie in these areas. Scenario 3: When the price moves sideways in Level A: Whilst within the level, there are a lot of candlestick patterns with both bullish and bearish indications, but most provide no actual insight to the markets' direction. After the price breaks out of the level and moves sideways on it however, Potential trades are revealed yet again. As of the time of writing, the price is approaching Level B, and there is some room for trades to test this out. Comments, constructive criticism and more reactions are always welcome, so let me know what you think about these potential trades!
by Deidara8086
2
ROBLOX 4H Doji + Triangle A doji appeared in the last 4 hours of trading of Roblox. Typically a doji reflects indecision within the market where buyers and sellers cancel each other out. When it happens at the top of a move it can signal a reversal. However, 4 hours isn't much to go on (I'd feel better on a daily chart) and these things appear a lot and often lead to nothing. So check for confirmation in the next candles. There is also a triangle forming and today was a new high completing the top line. Option 1 is a move higher once the triangle is broken, it could be after a slight move down (due to that doji) which presents a buying opportunity if the triangle holds. Not a super helpful chart, I probably should have just written "watch out for that doji" and left it there :)
NYSE:RBLX
by JBlack99
japanese candlesstick pattern (doji)The Doji is a candlestick where the opening and closing prices are the same (or almost the same). It can take many forms; as shown here; depending of what the trading activity was in that period. The Doji candlestick indicates that neither sellers or buyers have gained control, and that price has ended where it began. It is a sign of indecision in the market. Let me show you an example below : In the chart above, you can see different types of the Doji candlestick pattern. This candlestick gives us a clear image about what happened in the market during the specific time period. In this hourly chart above, the formation of the Doji means that buyers and sellers are equal, no one is in control of the market during one hour, which is the time of the Doji candlestick formation. You can't use the Doji alone to make your trading decision, my goal in this first lesson is to help you read charts by being able to identify and understand candlestick patterns formation, so when you see the Doji candlestick pattern for example, you know that during that period of time the market was in an indecision phase and sellers and buyers are equal. This is the most important information that the Doji gives us when it forms in the market.
OANDA:XAUUSDEducation
by tradeplanprofit
BTC - D1 - BULL TRAP ?D1 : Looking at the Thursday, Friday and Saturday candles we can see the following : 1) Thursday's candle shows a test of the bottom of the clouds @ 52'379 2) Friday's candle shows a sharp and strong reversal pattern (long white candle) with its closing above the clouds 3) After having filled the 61.8% Fib ret @ 58'060 (intraday high @ 58'549) a "DOJI" pattern took place on a closing basis Today's ongoing pattern is showing a "potential" reversal price action; the MID BOLLINGER BAND has already been tested and should, as already mentioned several times, be considered as one of the best LEADING INDICATOR, Therefore, a daily closing below 56'286 would would give an additional support for this ongoing trend reversal. Below : S1 : 55'949 S2 : 53'838 On the upside, in order to neutralise this ongoing downside risk, BTC needs to close today , first of all : 1) above the Mid Bollinger Band and secondly : 2) above the clouds Watch shorter time frames to get clues. Have a nice Sunday All the best and take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
US GOV 10 Y - INTRADAY - TRADING IN THE ZONE !H4 : Triangle target filled @ 1.6860 %. Ongoing reversal in progress Watch, on H4 closing basis, Mid Bollinger Band (@ 1.6280) as first support indicator H1: After having briefly broken the uptrend channel (wrong breakout, doji top followed by a long black candle ! the 10 Y is still in this ongoing uptrend channel with a first attempt to downside breakout, which failed. Below the support line of this channel there is a more important support zone to look at, which is the clouds area with its bottom level, which coincides with the 38.2% Fib ret @ 1.6270 A failure to hold above that level would put the focus to lower level, 1.56 % being the level of the triangle prolongation on H4 . If seen pullback would be achieved M15 : A Head and Shoulder formation is in progress with its neckline broken. Technical target is @ 1.56 % too CONCLUSION : Expected trading range 1.70-1.55 % on short term
TVC:US10YShort
by Ironman8848
SPX Showing Indecision After An Attempted Rally Above ResistanceThis is a small update to my pervious monthly and daily chart where i pointed towards the possibility of a Rising Wedge and a Bearish Crab to take us to lower levels soon. As of today we have had a strained rally above the 1.618 and look to be heading for the supply line of our Rising Wedge. But it looks like with all the indecision we are showing only just slightly above resistance and the 1.618 Fibonacci Extension that we may not have enough steam left to rally to those levels. I expect that we will either remain sideways or go down from here and likely will not be making it above the red box before at least first making a decent retracement to lower levels.
OANDA:SPX500USDShort
by RizeSenpai
1
EURUSD D1 Bearish ViewEURUSD has broken below 1.1830 and confirmed Inverted Cup & Handle Pattern. Target 1.1800 and 1.1745 has been hit (Ideas: EURUSD H4 Inverted Cup & Handle Bearish View, 24 March 2021). EURUSD bottomed at 1.1704 and rebound to 1.1915 high. Then EURUSD formed a Doji candle and potentially corrected lower to test: 1. 1.1830 again, and 2. 1.1700 Break and hold below 1.1700 will open the way to test 1.1600. But any move above 1.1915 could cancel Bearish Doji. Reference: EURUSD H4 Inverted Cup & Handle Bearish View, 24 March 2021 EURUSD D1 Bearish View, 22 March 2021
Short
by Wahyu_Luck
US10 Y - TREND REVERSAL IN PROGRESS...D1 : Recent price action is showing a trend reversal in progress. Indeed, last Friday a "doji" (uncertainty and indecision) took place which has been followed yesterday by a bearish engulfing pattern ! Today's ongoing price action continue to move to the downside. Watch carefully the Tenkan-Sen or Conversion Line, currently @ 1.6140 as the first important support and last but not least, at the MID BOLLINGER BAND, "T H E L E A D I N G I N D I C A T O R", currently @ 1.5620 as a pivot level for the ongoing session (s) If you find my analysis valuable for your trading, please do not forget to like and follow me Have a nice trading day All the best Ironman8848
TVC:US10Y
by Ironman8848
2
GBPAUD - Another Push DownWe saw some bearish movement on GBPAUD yesterday however it appears a weak AUD caused a bullish reversal in the pair overnight. (I am currently in UAE timezone) At the time of writing, the London session has just begun & we see price action indicating that another move down may be imminent. I observe a bearish doji followed by what appears so far to be an aggressive bear candle (lets see how this hour closes!). Price appears to have rejected the 1.80 psychological level also. I am aware price appears to have broken the downtrend however if we observe a closure within the trendline then I will classify this as a fakeout. We can then look for short entries to ride priced down to the previous swing low at around the 1.78200 level.
Short
by MMQ_FX
How to trade the US Dollar Index based on US FED policy actionsYesterday JPowell was very dovish. In summary, it's clear that the FED will use every tool necessary to achieve full employment. This implies that he'll let inflation run hot above 2% for a while. The recent rise in the US 10 YR yield indicates inflation is coming. However, JPowell said that he won't use tools to raise rates to follow the yield curve yet but implied that the FED may extend treasuries maturities should higher yields negatively affect unemployment numbers. Unemployment is still high. How to ride this out JPowell seems to think that the upcoming inflation will be transitional. He also expects the GDP growth to hit 6.5% by the end of this year. In addition, increasing vaccination will boost reopening economies around the world. Therefore, I expect the US Dollar to be strong for a while before heading lower. This play has the least resistance and current economic conditions support this. However, the US Dollar may immediately head lower as more money is introduced into the system. The FED will continue with QE as stimmy cheques hit banks this week.
TVC:DXYLong
by GrizzlyBearBee