Last Friday we saw a nice Hanging Man in EURUSD, and it´s of the DXY that made an Inverted Hammer. Because it was Friday, end of the month and in this week we have payrolls and we didn´t had a nice volume (even thought is FOREX), I would like to see a pullback to 1.1280 (but I´m taking the first TP in 1.1270). Depending how it react to the support I would take out...
1. Candle Pattern Bearish Reversal Pattern Evening Star 2. Hanging Man Candle 3. Liquidity BITFINEX:ETHUSD POLONIEX:ETHUSDT KORBIT:ETHKRW
First published idea from an inexperienced trader. as the NZD/USD weekly approaches a close, a hanging man appears to be forming on top of a strong support line, NZD/USD is at it's lowest point for over 12 months. bearing in mind we have the NPF tomorrow so this can go either way and break the support. I am bullish on this pair, I suspect the bullish reversal...
Wait for trend line break and higher high confirmation.
Hanging man at 61% fib retracement. Price is also in line with a strong line of resistance.
Charts quite messy. Trade down to new lows. Looking to enter after a more apparent breakout. May take profit 80 pips in.
Trade the falling wedge breakout Failure to close below a key level and the 61.8 Fib Wicks don't lie
Rejection of the 1.4000 region
I think price will bounce up from this price zone, possibly to 1.3400.
Looking at the NZDUSD its been bullish for a over a year but I think the bulls are loosing power and the bears are starting to take over. From a MONTHLY perspective... The most recent candlestick has a SHOOTING STAR characteristic. Price attempted to break the weekly resistance at 0.7450 but failed and price came back down. Price is below the monthly resistance...
Looking like a denied breakout from 200 MA, into a hanging man reversal candle.
I've had a short bias on this pair for 2 weeks now, with a few successful smaller TF trades (and 1 losing trades). As you can see, on the Monthly TF we're also showing signs of bearish pressure. Monthly - Hanging Man formation complete - Dragonfly Doji almost complete with 3 days trading left this month) - Key support turn resistance Weekly - Bullish...
ULTA is in an obvious up trend on the weekly chart. Sort of sideways on the daily chart with an RSI making lower lows and lower highs. But if you put a lot of stock in candle formations then you might be willing to risk some money to the downside. Bearish formation in Friday's candle on the daily (engulfing candle) within a one on the weekly (upside down hang...
Reading daily price action There was a significant selloff at the end of the 3rd bullish candlestick. The bears even pushed the price lower than the previous bullish candlestick. On that same day the bulls tried to regain control, but were unable to close at the opening of that day. This resulted in a hanging man. The day after on friday the 20th of March the...
the pair its in a channel, now in the upper side, we see a nice hanging man there, and the stochastic is confirming the trade.
Pros: 1 - Bearish Gartley Pattern & AB=CD (Red formation); 2 - Candlestick patterns hanging man (Daily timeframe); 3 - RSI almost in overbought conditions. Cons: 2 - Breakout of the support area (Orange Square).
Being in a daily uptrend, USD/CAD has strongly rejected a previous support level (1.0860), and the 0.5 and 0.618 Fibonacci level in its pullback and closing on Friday 29th August 2014 above the 50ema as both an outside bar and a low test giving well-founded signs of imminent bullish continuation. A drawback to this trade would be that the weekly chart is still in...