Bullish Opportunity on EURJPY - Inverted Hammer Pattern Indicates Potential Upside Move
Greetings, traders!
Today, I want to share an exciting trading opportunity on the EURJPY currency pair, which appears to be trading bullish on the 1-hour chart. After conducting a thorough analysis, I have identified a compelling bullish inverted hammer candlestick pattern,...
Most of us will spend about 90% of our time thinking of what to buy and at what price we should get in. In fact, that is only 10% of work done.
Focus on this scenario instead - “After getting into a position, how are we going to manage it with either a calculated loss when market go against us or how should we take profits when market perform better than our...
Stay-tune for the video version shortly, we will do more in-depth study.
Micro E-Mini Nasdaq Futures
Minimum fluctuation
0.25 point = $0.5
1 point = $2
10 points = $20
100 points = $200
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• What presented here is not a recommendation, please consult your licensed broker.
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Hanging Man
and...
Inverted Hammer
Beside each other...
Choose your side wisely! (I set this trade idea as "Long" if we hold this break in market structure @ 1270 area).
The Inverted Hammer candlestick formation occurs mainly at the bottom of downtrends and can act as a warning of a potential trend reversal.
After a long downtrend, the formation of an Inverted Hammer is bullish because prices hesitated to move downwards.
Sellers pushed prices back to where they were at the open, but increasing prices shows that bulls are testing...
Here we can see the formation of an inverted hammer which is usually called as a shooting star. This generally appears in a bullish run and indicates a reversal in the trend. The very next candle is a conformation of the shooting star. If someone had taken an appropriate put trade they could have easily gained 454 points.
We had a good bullish run lasting almost 2 month before ending in a rather brutal sell off last Friday. The weekly bearish inverted hammer candlestick suggests we could have potentially more downside in the coming days/week (unless negated by a rebound that took out last week's high, though the odds look slim at the moment).
However, whether we have turned...
The market has been moving higher nicely over the past few days, particularly in growth and tech stocks, however, throughout today's session we saw that momentum reverse with a large number of outside reversals and stocks trading from green to red.
Most short and medium-term trends remain in tact higher.
BTC is about to begin a bullish rally and here's why:
Looking at the graph, we can see a candle with an extremely big wick pointing upwards has formed (A.K.A. Inverted Hammer). There are also other reasons why it's about to happen. They include:
- Price hitting the 200 EMA and not crossing
- Price hitting the 61.8% fib line
- The downtrend is losing its...
- CAD/CHF is trending towards the upside on multiple time frames following moving averages.
- We are seeing a bullish engulfing candlestick closure on the 4-hour chart, and an inverted hammer pattern on the 1-hour time frame, indicating buying pressure.
- The overall trade setup, has the potential to reach around 100 pips because of a potential monthly resistance re-test.
WEEKLY (W1) $
Last week price action triggered an INVERTED HAMMER PATTERN, which usually should be seen as a bullish warning signal; nevertheless, in this case, I would remain very cautious before to conclure that the downside pressure is over and we can see a STRATEGIC TREND REVERSAL ; the weekly closing level @ 38'438 was below the TENKAN-SEN !
Indeed, the...
