Hi everyone! Today’s trading idea is on Nike (NKE)!
It is a long trade for 3 reasons. First, the pivot at 131.83 was broken today, and this might be the beginning of a good movement next.
Second, the RSI shows an advanced breakout, and this is another confirmation we have here.
Third, we are near support level in the 4h...
Based on the chart, price dropped on a major support area and a good rejection completed (We can see a very good bullish engulfing candle on the chart!). The rejection was so strong and it can be a good sign of buyers power at this area. Also we have to consider that we are in a uptrend situation.
So based on these scenarios opened a buy position with a good risk...
USDJPY pin H4 pullback from fibo confirmed with engulfing.
I'm testing my strategy for some years which uses pin bars. It's about to find rotations when pins are on the high or low of the swings. In common retail traders using them as the good signal for trade, im using the opposite function of it, im finding liquidity and rotation back to the trend.
Based on the chart, price have reached a major support area and a false breakout have happened. Also based on this false breakout we can conclude that there is strong demand at this area which can be good sign of buyers strength.
Even more based on candlesticks, we can notice a good bullish Engulfing formed here 3 days ago while we can see no sign of sellers...
Here's a short term low risk trade on EURJPY,
Price created a nice selling action signal on local volume cluster at 132.145
Now i expect that it will drop to a 131.800 to pick up volume on that price.
Nothing extremely big but small trades has a best win/lose ratio.
I also expect action on POC at 132.795 if the price will cahse it.
Wish you lot of succsess!
First of all please get this technical analysis to 30+ likes to unlock tomorrow's alpha post 👍
Good afternoon traders, we have a possible bearish engulfing candle on the 4 hour and will confirm if we close below $36,200 (ish) so watch out for the next hours to come as we head into the daily close and weekend.
Could be a messy weekend if my bias towards the...
On the 1 day chart, Bitcoin is now below the 200 and the 233 EMA . (yellow and orange)
The 20 SMA (pink) has met the consolidation triangle at the top of the current candle. Usually the price of bitcoin follows the 20 SMA closely if you look at the past price action.
Yesterday we had a bearish engulfing candle.
With the combination of these things, I would...
I’ve been monitoring GME the last few days. I noticed a bearish engulfing pattern appear on the daily chart this Friday indicating a possible move downward. Was lucky to catch it on the way up last week for gains of >500% so I’m working w/ profits on my current position. Clearly a volatile situation, good luck to all.
Confluences:
Bullish engulfing
Lower bollinger band outbreak
Rejected strong support/demand zone
Long term uptrend
Close above 20 EMA
TP set at the candle body high of the previous highs.
SL set below engulfing candle low (safe) or below 4H engulfing candle low (riskier).
A close above the resistance trend line will confirm further increase in price.
Will be...
Hello traders and investors! Let’s see how Tesla is doing today!
First, in the 1h chart, we see that it is trading inside a short-term congestion , between the red lines. Today, Tesla just retested the upper line, and it seems it won’t break it right now. In fact, it is doing a bearish engulfing.
The 21 ema is useless during congestions, so it is not a...
SRMUSDT on the daily timeframe shows a rejection with a bullish engulfing candle pattern. The previous resistance area which is now a support area and is close to the long trend line from the month of December 2020. To further ensure the direction of the next price movement, it is seen that the price has formed a hidden bullish divergence using stochastic....
In the monthly time, a powerful ascending candle covers its previous candle
I see all these falls as a correction for the upward movement
Let me know what you think in comment...
Price came down and formed a higher low and pumped. Bullish engulfing on daily chart, any pull back on smaller time frame will likely be setting up for continued bullish wave up towards 111.00!
This is building from my original idea published for ABXXF, listed here in the US on the OTC; However, you can't really glean too much from it's chart. You can see the original ideas linked under 'Related Ideas".
I'm expecting the cup and handle formation to continue with it reaching resistance around CAD$4.40-$4.45 (US$4.20).
> The 4-Hour Charts for ABXX &...
