on the cadnzd pair, I see bullish potential from support zone + falling wedge pattern. Price reacted very well from support with an engulfing bar and has retested newly formed support zone. Looks like potential inverse H&S but can't be too sure on that.
Price has also reacted very well off newly support...
It has almost two perfect bearish Engulfing patterns in a row and this is pretty unusual:
The last week candle managed to break and close below the 2018 low level and we can assume that the movement may continue in the further week.
Wait for a pullback into the blue box area and it should be ready to make another move...
o Trend is clear
o price never broke blue line till...
o on the peak it broke blue line and closed
below the brown line
o Sell trigger would be on that candle
o Since bearish engulfing is happening
it's confluence with the trade
Reasons for entry:
- 88.6% fib rejection
- 1.1310 Minor psychological level
- PA is wicking + bearish engulfing
- Price is losing moment and beginning to stagnate
- 2hr Doji, possible evening star forming on the 2hr
- 1hr bearish engulfing (weak) + 2hr Doji
Target 1 @1.1225 (+80pips) =...
This year high is made and from there we got a rejection from:
- The trendline since 2017 July (black line)
- The round number 0.69000
- The previously worked resistances
The rejection ended up with a bearish candlestick pattern called bearish Engulfing!
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Have a nice day,...
Due to oversea market gaining higher last night the ASX 200 should be opening higher off its bounce. However with Nearmap it has formed a bearish engulfing near the RES and its near 52 week high as well. Looking to short 1260, near the 13 ema.
After a parabolic move up, then a breather, and another 10 straight weeks of aggressive gains...I am looking to short Boeing on a pull back from the $420's down to the $380 range. Currently trading at $422.
- I cite "Irrational Exuberance" as the reason for this short, however...
- Remember that "the market can remain irrational longer than you can...