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Let's start with the weak buy volume during the most recent move up from 182 to 191. Inverted red hammer on daily with decent bear volume grinding the top of BB. KDJ indicator show weak rsi overbought conditions. Macd showing little volatility. Volume is drying up. I suspect a breakout soon and more likely down than up. Watch out for fake out with no bull volume.
Taking a quick look at the Daily to get an overall view on how we are traveling and it looks like we may have a pullback on the cards over the next week, we have a fairly high volume inverted hammer, with a fair amount of selling pressure over the last few days. Taking a look back over the chart you will start to notice these candle patterns quick ...
We see from our Ichimoku that there is indecision in the market. Chikou span is under price, and Kijun sen is on top of price. Both of these indicate the trend will need more steam if the bulls want to hold this uptrend today. Tenkan sen indicates potential market trending. Senkou span A&B are acting as resistance and have been widening as volatility ...
The Inverted Hammer is comprised of one candle. It is easily identified by the small body with
a shadow at least two times greater than the body. Found at the bottom of a downtrend, this
shows evidence that the bulls are stepping in, but the selling is still going on. The color of the
small body is not important but the white body has more bullish indications than ...
The bearish trend on USD/JPY chart is weakening. You can see a hammer candlestick on the 105 area, testifying that it is an important level of support. The options are two now:
1) a momentaneus market range in which the 107.850 level will be the resistance.
2) the breakout of the resistance above caused by strong bulls (such as positive NFP datas) with a ...
Not to much new to update form yesterdays video... I still believe litcoin will pull back to the area mentioned in the video, presenting sub $200 buying op.
The video really covers candle stick pattern that played out in my opinion across four (4) timeframes... possible 5 depending on how the day closes out.
I hope you enjoyed the video... ...
Gun to my head, this is the pattern I think we see at the close today!
What the chart is showing us:
- AUDUSD approaching resistance at the 0.7700/50 levels
- Friday candle closed and formed an inverted hammer
- RSI just about touching the OB levels
- Completed a Harmonic bearish Bat pattern
Potential targets down at 0.7500 (support/resistance zone)
Let's see how the price moves at the start of the week
The pair is looking bullish in the bigger picture.
This is a possible setup currently, but I am waiting for a trend line breakout to occur in order to trade the pair with a more rewarding setup.
After considerable Yen weakness, xxxJPY pairs rose hundreds of pips. It seems like too unsustained of a move to me, so when such a strong short setup appears as shown above, It seems a very good opportunity.
Price reached a significant horizontal resistance zone
Price has made contact with the resistance trendline and shown a spinning top (inverted hammer?) ...
I think the price correction is completed.
In the H4 time frame we have three reversal patterns, an inverted hammer, an engulfing and a doji.
Furthermore, first two reversal signals shape a tweezers top.
Thus, we have different reversal signals that can give us short opportunities that could push the price near 123,6% Fibo retracement or in 0,71437 price ...
On the daily chart we can see how the price, after a sharply upward move, stops near an important resistance.
After a nice white candle, we can see how the price action shapes a long legged doji, after that it shapes a reversal hammer (not so nice).
Furthermore, these two reversal signals shape a tweezer top.
Thus, we have different reversal signals that can give ...
With nearly a 5% gap between the current price and the base line and the rejection of the 45.92 dollar mark, indicated by the inverted hammer with the green highlight, the security is very overbought we can expect a corrective structure to take place and thus retrace back to the ~43.5 dollar mark. Please note that this is a short-term analysis and thank you all ...
$WY should see this move north upon completion of this inverted head and shoulders
This has been on our watch for 2 months watching and waiting for clear decelleration + technical confluence to look to get lon, and this weeks finish looks to have completed that, breaking out of the Bullish wedge upon many key confluent areas as highlighted on the chart.
This all stacked together looks like a excellent Reward / Risk potential trade coming up in ...
1. Inverted hammer at bottom of trend
2. Double bottom
3. Massive retracement
4. Bullish Wedge
5. Some key support area 2.065
6. Fibonacci .618 retracement
1. As shown we are in a channeling uptrend idea of this is to try ride the uptrend as soon as possible
2. Channel support being tested showing price rejection
3. Horizontal support area
4. Fib 38% Seems to be holding
5. Potential inverted hammer being formed
6. Arrows on price showing measured moves to the upside