Bullish engulfing candlestick pattern at resistance turned support level. Short term target can be previous swing high.
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...
Just waiting for an entry reason
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...
The weekly, engulfing the previous two green candles. Bearish. Attention to the volume
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...
Confluences: Recent higher high Large bullish engulfing candle Slight lower bollinger band outbreak SL set below engulfing candle low. TP set a previous high's candle body high. Trail SL for max profit. Similar to CADJPY setup, but not quite as strong.
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 &...
BTC closed on the 5th of May with an engulfing candle. Bitcoin won that day, but only just. Also price action currently remains within a larger ascending channel, two touches to the top so far and two touches to the bottom. A third touch of either may well be the break this time. Price action is still trying to move to the upside, for me, the bulls have it at the...
XRPUSD has now printed bullish engulfing patterns on the daily (today) AND the weekly (Sunday). Could be an outrageous two weeks if it confirms by EOD tomorrow!
BITSTAMP:BTCUSD After the massive selling pressure yesterday, Bitcoin bounced at the 52900 level. Today, we saw a huge correction to the upside. As we can see, the last two daily candles form an engulfing pattern . We also saw a higher wick of the daily candle than the yesterdays candle opening. If the daily candle remains or closes above the yesterdays...
Each candle has its meaning. One of the most common ones is the Engulfing candle that consists of a candle that completely covers the previous one. In the graph, you can notice how a last bearish candle has been completely covered from an engulfing one. Momentum is changing!
AUDNZD has set up a perfect in trend bullish engulfing setup. If price pulls back to the 50% area i'll be looking to enter there for a sniper entry. Buy stop trade currently activated. Confluences: Higher high Higher low Real bullish engulfing Lower bollinger band outbreak TP set at previous highs close. SL set 5 pips below bullish engulfing low.
Bullish engulfing MACD crossover just started - Volume confirmation pending Flag pattern Flag pole length = 67 points Lower flag cost = 487 points Price target = 554/- CMP= 528/- Time target = 5 days 3rd May '21 Upper flag cloth resistance broken with Inverted hammer pattern. Watch out for tomorrow's move. NSE:PRINCEPIPE