#CGC -#CGC Canopy Growth Corp has created a bearish reversal pattern on the monthly chart that is similar to an Evening Star Reversal pattern. The current reversal pattern doesn’t fulfill the requirements to be a true Evening Star Reversal due to it not occurring at the top of an uptrend in price, but it could be a signal of downtrend continuation, especially...
Price re-tested prior day high and failed to break. Printed Evening star close.
Should see GBPAUD come down for an overall of 163 pips. I like the evening star formed on the 4 hour time frame near resistance. This closed below the previous low high that is highlighted in the eclipse. This is a nice lower high formation that I think will continue down.
The 1.33600 zone has rejected the price action yet again. An evening star pattern has formed at the strong resistance levels. Moreover, the RSI indicator has made a double top pattern and made a bearish crossover from the overbought zone. Hence, we expect the counter to trade with bearish bias from here.
The resistance of 0.85099 proved to be a tough nut for the bulls. An Evening star pattern has formed at the strong resistance levels. Hence we expect the pair to be bearish in the short term.
Something to look out for in the following weeks. Expect the gap down Monday morning. Or you can wait for the media to tell you that the Chinese yo-yo of trade talks are now "stalling the market". Because thats what drives the US Market? SMH More on the evening star pattern. www.investopedia.com www.chart-formations.com
After evening star printed on daily at a supply level and price broke down to end last week, we are now getting a retest for potential continuation to the down side. Trade at your own risk!
Evening Star Pattern Candle on tf D1. SL range 1540-1545 TP range 1510-1496
After finding appropriate RSI and MACD entry points, traders benefit from analyzing key candlestick formations. Below are the candlestick reversal formations detailed in this chart. Candlestick Formations: Two Black Gapping : appears after a notable top in an uptrend, with a gap down and two red bars. It predicts lower lows with an accuracy of 68%. Three...
My view on this on: Candlestick pattern: Evening star At: Resistance and new wave Follow the trend: yes Target is 0.974 Stoploss at high of the star You can wait for the next candle close lower the the pinbar or wait for the retest at high of the star Goodluck
With the USD being overbought and having bad news this morning an evening star candlestick formation was create and confirmed this evening the ext is at .9550 which is the target I would look to go for risk/reward is a 1 to 3 if you place your stop around 1.000 level. If you have not gotten in I would wait for a pull back on the 2hr chart to get in. If you agree...
EUR/AUD 4H EVENING STAR AT RESSISTANCE SHORT OPPORTUNITY
EURO is currently weak and across the board we saw a EURO decline. Evening Star formation as shown, alongside bearish engulfing formation. The price did bounce back up yesterday but hit res and dropped back down. Can't see this being broken unless fundamentals intervene. All levels got hit yesterday and confirmed the Evening Star which is a huge bearish sign.