A few factors meet in confluence to form this trade setup:
1. Resistance broken and tested as support
2. Short term up-trend
3. Pullback to the fibonacci levels
4. Bullish engulfing bar completed
This type of setup entails buying once the high of the engulfing bar is broken with stops a few pips below the engulfing bar and the target at least 2x that of the...
Lower highs are being formed as can be seen on the daily time frame
Flipping to H4 I noticed a bearish engulfing bar that perfectly tested the resistance level. Given the major resistance holding strong this sell signal is somewhat significant.
For this type of setup the stop is best placed above the engulfing bar where...
AUDCHF just formed a bearish engulfing pattern, creating an opportunity to enter with a short position in this down-channel.
The price is slightly retracing, this gives us the opportunity to get a very good risk to reward ratio, while still placing a good stop loss, above a mid-range downtrend line, and a good take profit at the bottom of the descending channel.
Today was the 1st outside engulfing green trend day bar since June 10.
There have been outside green engulfing candles since then but they have all been very wicky, this was the first very full bodied trend bar.
Last time it happened it made a nonstop run to a somewhat major high from about 8k to 14k within about two weeks.
So I am seriously considering swing...
A Bullish 5-0 pattern staging for a bigger trade setup. An opportunity for me to engage on a longer-term trade, however, I do need a bullish engulfing candle to close to engage.
Do note tomorrow is a non-farm payroll data release. Traders who aren't comfortable should wait out for the news and usually, I will engaged 15-45mins after the release of non-farm payroll.
AUDCAD testing the upper part of the down-channel, with a double candlestick pattern: a tweezers top and a bearish engulfing pattern.
Stop loss and take profit are very tight, since we are trading on the M15 within a very tight channel, so I suggest to check the spread first for your broker and avoid this trade if you have a spread that is over 1 pip.
1. Support level broken
2. Tested as resistance
3. This is also previous resistance area
4. Bearish engulfing bar completed
5. Supported by 8 simple moving average
See the signal on the weekly time frame as well
Shorts are favored with this strategy and stops are best placed above the engulfing bar with targets at least...
1. Price is in an up trend
2. Previous resistance become support
3. Bullish engulfing bar completed
4. Supported by 8 simple moving average
The high of the engulfing bar has to be broken for the trade to be valid. Stops for this strategy is best placed a few pips below the engulfing bar and targets must be at least 2x sl value...
Don't invest what you can't...
After reversing on the major support, the market has rallied higher and just hit the fibonacci zone after a pullback.
1. Pullback to fibonacci level
2. Bullish engulfing bar (needs to close as such to confirm)
3. Previous resistance tested as support
4. Moving average at play as well
This is a classic setup using a few factors in confluence. The engulfing bar...
There are a few factors in play with this setup. The pin bar striking the moving average on the weekly time frame around resistance indicates a bearish signal from price action:
H4 has a few clear characteristics that is classic of a bearish setup:
1. Bearish engulfing bar
2. Pinning moving average
3. Pinning fibonacci...
EURGBP getting again in the upper part of the down-channel, giving us another opportunity to plan our short position.
There is a bearish engulfing pattern right on the top of the channel, so we can enter right now and play with a very good risk to reward ratio.
I found an engulfing candlestick pattern confirmation on a supply level. I take a SELL trade on this.
I place a SL just above the high of the confirmation candle.
On the way to the target are 2 weak demand levels, bur I belive they get broken. I'm giving daily updates on that trade. Stay tuned!
AUDUSD just tested a resistance that is formed by the last important swing high. After testing that level, we had a bearish engulfing pattern, sign that sellers are attempting to push the price down.
Interesting battle between buyers, who seemed to be strong with the last up-movement, and sellers, who seem to find convenient the level 0.6808 to place their short positions.
1. Up trend
2. Pullback to fibonacci level
3. Engulfing bar completed
4. 50 sma pinned (confluence)
This type of setup entails that the stop placement be a few pips below the engulfing bar and the target level must be at least 2x the risk (sl)
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial...
Pair : #DNT / #BTC
Trading Platform : #Binance
RSI : 59
TA Notes :
- MACD : Looking bullish on the daily chart.
- RSI : Looking bullish too for the short the short term being in a neutral position form but going to move towards the overbought area in the mean time.
EMA : Already below the price level indicating a good reversal bull...