A Confluence of Bullish Outside Bar Candlestick Pattern and a Significant Support Zone
GBP/USD has formed a bullish outside bar candlestick pattern in the H4 time frame.
We can see in the H4 chart how the last big green candle in the picture attached engulfed the previous four candles and closed at the highest.
If we look at the high time frames charts (W1 or...
A confluence of Fresh Supply and Fibonacci 61.8% in USD/CHF.
Two weeks ago, seen in the W1 chart, the USD/CHF weekly candle had ended as a bearish engulfing pattern. The big red candlestick shows this bearish engulfment.
This pattern was a continuation outside bar candlestick pattern. It shows how the big red candle engulfed the one before and it also shows how...
GBP/USD Price is Established Below The Annual Open Price
A few weeks ago, the GBP/USD price fell below the annual opening price, which became a significant resistance zone.
Since the after three unsuccessful attempts to breakout this resistance. The price reattempted to break the resistance against two days ago (25th June 2019). This time the daily candle ended...
On the 1D chart, the previous day’s candle has ended as an outside bar candlestick pattern, which is a reversal pattern.
We can see how this candle was engulfed the day before. The height of the outside bar was higher than the height of the previous day. and the low of the outside
Bar was lower than the previous day’s low. Since it’s a bearish outside bar, we...
Sp500 dropped significantly last in the last 4 weeks losing almost 10% from the historical high.
It is pretty interesting to see what is gonna happen in next few weeks. The index has taken out the master TL + we are 1000pips below 200 EMA + we have got possible HUGE monthly OB with beautiful bearish div that is HUGE signal for a possible bearish market to...
Upon false breakout (Hikkake) signal in 1h chart (not shown), I have loaded up my short position. Bullish momentum is still here, a bit risky. Outside Bar two candles ago (see red labeldown, ongoing upward trend and falling down out of the price channel make me confident that it will play out well.
Stop Loss and target gain are shown (Reward/Risk ratio =1.1).
EURUSD was rejected by a weekly resistance zone last week (structure, trend line, harmonic pattern)
The resistance zone and the triple top pattern sent EURUSD down - Forming Outside Bar pattern that will be in focus this week.
EURUSD will have to break the support zone to continue lower
BTCUSD update: Outside bar like candle forms within the 10988 to 8656 support zone, and more specifically bounces off the 9683 lower boundary of the reversal zone. Just like in the other markets, this is a place to be looking for longs for swing and position trades.
Funny how people criticize and ridicule TA, meanwhile levels that I have projected weeks ago are...
BTCUSD Update: Higher low established at the 6900 area followed by a new upswing that has just spiked to 7900 and formed an outside bar. This is the Wave 5 of 5 that I have been writing about that may have exhausted its potential going into the fork over the next 8 days. Once the incentive is over, the environment will be setup for the beginning of a much larger...
The pair is currently in a consolidation box just below pivot point and exactly at 50% of the box. We got strong longer term down trend, double high and nice outside bar.
I entered the short on outside bar low break and set initial SL just above outside bar high. If you've seen my older trades you will know, that my SLs are dynamic and I adjust them every day -...
Stochastic shows divegence and end of correction. Touch resistance level at 0.74987 and top level of chanel. Bearish Price Action model - Outside bar.
I will put 3 sell stop orders at 0.74150. S/L - 0.75200
T/P = 0.73100 (Only for 2 orders)
3rd order I`ll leave without T/P. I`ll put S/L few pips higher of big bearish candle.
Outside bar is a good opportunity to go LONG. We need to open an order from 50% because closest resistance zone at 1.10, and we can`t get good Risk/Rewards ratio, if to open an order by market. So we go LONG from 50% Fibo using Buy Limit order at 1.08988, SL - 1.08575, TP - 1.10
Pay attention to the daily Outside Bar that developed today on $GBPAUD.
Potential continuation to re-test top of trading channel (red dashed lines).
Stop loss should be below today's low.
Tomer, The MarketZone
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Corn has been diving over the last 3 years since it's peak in 2012.
Beside small correction move in 2014, it was pretty much a nose dive that cut corn value in more than half.
Since October 2014, Corn has been bouncing around the 22-23$ support zone, which is also the 127 extension for the first part of corn's decline (Aug 2012- Jan 2014).
The second time...