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 50% pullback level When the above is...
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.
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.
EURAUD is in a short term pennant and we just had a bullish engulfing pattern at the bottom of it. With a risk to reward ratio that is better than 1:2, this could be a nice trade to catch!
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...
#Accumulatio_Recommendation 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...
D1 - Price has reached the top of the range. H4 - Multiple divergences, false breaks and nice engulfing candle pattern. We may look for possible sells with bearish evidences as long as the top of the daily range holds.
Hello traders, I found a supply level that was hit last week. The price is currently in a consolidation. I waited for a confirmation (candle formation) before entering the trade. The confirmation was a engulfing candle on the D1 Chart. I'm uploading this idea after I actually entered the trade. The SELL trade is still valid. Eventually you can get the same entry...
BUY APOLLO@1435 STOPLOSS@1428 TARGET@1453
DollarCad Weekly Formed A Bearish Engulfing CandleStick Formation after breaking out of its long term channel, USDCAD already retraced back up creating a lower high and now we have this bearish candlestick formation with a counter trend line break. the daily seems to be a little low already and might retrace, I don't plan getting out since its the beginning of the...
This is an awesome setup: 1. Resistance broken 2. Tested as support 3. Bullish engulfing bar 4. Moving average and fibonacci confluence (50%) Best way to calculate stop is where the setup is deemed invalid and the target must be at least 2x that of the risk. Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a...
HEY FRIENDS, TODAY AS WE CAN SEE THE CLEAR HARAMI PATTERN WAS SEEN AND SO WE MAY SEE SOME BULLS I WITHIN A WEEK.
Amazing trading activity today. I got out of my short on EURUSD with 2R profit as ECB lowered interest rates to be even more negative. Absolute madness if you ask me, but I will trade it happily, while I buy physical could. Anyway, right after I was out of the trade EURUSD rallied higher forming a huge engulfing candle. I will be looking to trade this countertrend...
Breakout from trend. Large engulfing bull candle. We'll check for a entry point before market opens.
EURUSD broke an important level of resistance this morning. The price is testing the same level and buyers reacted forming a strong bullish engulfing pattern right on the previous level of resistance. Easy setup with this trade, with a standard stop loss below the candlestick pattern and take profit above the previous swing high.
I like this setup because the swing low to the left provided a level that gave the bearish engulfing bar significance. This looks like a well positioned short trade set-up given that the moving average is also playing a role in the failure of the bulls to push the market back up. This type of setup entails that the best position for stops to be above the...
Yesterday, I published a potential trading idea on AUDUSD, on my YouTube channel. The price is following an ascending triangle, but recent action is showing that sellers are getting stronger and may attempt to break the ascending triangle, pushing the price down. There has been a nice reaction at the top of the triangle, then a double top (highlighted with the two...