AXP at Risk of a Rounding Topping FormationAXP has had a slow downward rounding candlestick pattern as the stock slips down in price. The price has stabilized for the moment at a Topping Completion support level.
Search in ideas for "CANDLESTICK"
MU Under Dark Pool Quiet Rotation™MU is in a Trading Range pattern at this time. The compression of that candlestick pattern in August is showing signs of heavier Dark Pool Quiet Rotation. The large lot long-term investors are slowly lowering inventories on MU over many weeks, and this increases downside pressure.
USDCHF: Evening StarMy 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
DLTR Slams into Resistance HighDLTR rose slightly above its prior All-Time High with a Shrinking Run Gain Pattern. The Long Black Reversal Candlestick Pattern is a common pattern for this type of weak run action.
BTCUSD is back with a vengeance as altseason is on pause for now$BTCUSD is back with a parabolic upswing pending as confirmation of breakout is indicated by traditional candlestick two line trading & a surge of volume to bolster its position thus confirmation of breakout and parabolic upswing to next resistance is in effect with no telling how far this run will take us.
In the meantime watch price carefully to see where the kind of momentum and Fibo +RSI takes us. Will publish an update later with targets.
Trade safely everyone & set your stops at 8965
DISCLAIMER:
Never take one traders opinion as fact. Market volatility states the obvious: you should always trade with caution and never a penny more than you can afford to lose. Have a wonderful evening.
-@a1mTarabichi
PYPL Forms Risk of Top FormationPayPal broke to the downside, then bounced up on a strong upside market day. However, the gain of the bounce is weaker in volume and price pattern than the previous downside black candlestick. It has weak support to the downside all the way to the red line.
AMD Is Strongly SidewaysAdvanced Micro Devices has been trading sideways while many big-name companies have collapsed in price. AMD continues to show strength in the upside runs within the sideways candlestick pattern.
NKE Has Strong ReboundNike rebounded from a steep sell-off, to gap and run up. The support for the rebound is prior months’ highs. Stock indicators turned positive. However, resistance is stronger against the rebound candlestick pattern.
MSFT at Risk of Losing Top CompletionMicrosoft gapped up on earnings in April. However, the pattern has weakened since then with gap down action. The stock is now at risk of losing a potential top candlestick pattern formation unless corporate buybacks are instigated to maintain the price level.
FDX Short-Term Bottom FailingFDX is an example of a failed short-term bottom formation. These bottoms develop too quickly and are unable to fully complete the formation. This stock is now poised to retest the prior candlestick pattern lows for support.
Rare Engulfing Pattern To Dictate Future Movement For S&P500March 4, 2019 saw an engulfing pattern in the candlestick chart for the S&P 500 . Engulfing patterns are not rare, but one that engulfs the the price range for the prior 6 trading sessions is something to understand. I went back and found this same event (engulfing a minimum of 6 prior trading sessions) has occurred in the market only 15 times in the last 40 years. There are roughly 252 trading days in a year. Multiply that by 40 years and there have been roughly 10,080 trading days in the last 40 years. The event has occurred 0.149% over the studied time frame. This would qualify as very rare as defined by the i-base.info website.
Okay so this particular pattern is very rare, but why does it matter? Below are the charts for the most 10 most recent occurrences of this pattern. The critical information in these 10 prior instances are:
1. The index's direction prior to the pattern
2. The direction of the first break from the pattern's range
The full-analysis is available at my website. The next few days will dictate the accuracy of my analysis
July 2017
December 2013 and January 2014
April 2011
January 2005 - January 2007
January 2001
May 1997 -
May 1993 -
QCOM: Pro traders' end of day reaction to AAPL newsThe huge candlestick yesterday was NOT HFT activity. A run occurred toward the end of the day, driven by pro traders who received early news regarding the settlement of a 3-year lawsuit with AAPL. Pro traders initiated the end-of-day run and smaller funds’ VWAPs triggered to continue the end-of-day run on high volume.
AUDC: Similar to AMD with pro traders and HFTs in the mixAUDC has similar technical patterns to AMD and other semiconductor stocks. The activity has pre HFT setups. Pro traders are in the mix. HFTs tend to gap and run the stock upward. Candlestick patterns and volume reveal pro traders and HFTs.
Shorting the USDRUBTo a newbie, this looks as if it would continue with it's uptrend. Although from a TA perspective, this is a shorting opportunity for the following reasons
Reasons:
1. Inverted hammer - candlestick pattern (the bulls are tired)
2. RSI is extremely overbought
Gravestone Doji with ConfirmationThe hourly chart shows a bears are making a move with gravestone doji and confirmation candlestick. The Lower High resistance line appears to be intact.
Crude Oil - Bullish Harami?Not a candlestick pattern specialist but looks like a text book Bullish Harami on weekly; the green candle body formed last week is completely engulfed by the red candle from the week before.
"The Bullish Harami is a sign of disparity in the market’s health. The market is characterized by a downtrend and a bearish mood, and there is heavy selling reflected by a red body, which further supports the bearishness. However, the next day prices open higher or at the close of the preceding day and the short traders are alarmed. This leads to the covering of many short positions, causing the price to rise further. The latecomers short the trend they missed the first time, and slow down the rise. Thus, a smaller green body is formed. This may signal a trend reversal since the second day’s small real body shows that the bearish power is diminishing."
Trending UpwardsHigher highs and higher lows over several sessions; significant lower shadows on several candlesticks. Oscillators reaching upwards.
XBT/USD Moving Average Breakthrough for Reverse Candlestick
Moving Average is White Bar
Hello, if we go back to 2017/11/13 and see the moving average, we can see that it is the first time since bullish breakthrough, since maximum record we see the candle stick are moving in a reverse position. Since 2018/01/15 we see prices going below moving average.
I think this is the first major signal of bearish market and prices falling to the Supports at 8000 and 5800. The 10k Support i think is a fake support as i saw order books and just seemed to be triggered by scalpers or orders placed beforehand.
If the BTC Price go below 10k i want you guys to check for 8000 S1, and 6000 as S2, should it continue moving downwards i want you to check the 3700 S3 area. However this escenario can only happen in the most extreme of circunstances...
Scenario 1: Price does not go below 10k, and BTC price recovers up, if this is the case, 12.8k R1 would be a nice indication of bullish pressure being too great. ... Somewhat Likely
Scenario 2: Price goes below 10k, next support level is 8k. This is an excellent time to buy.... Very Likely
Scenario 3: Price goes all the way up to 6k, this i think is an extremely strong support, anything below this could indicate a huge market correction.... Somewhat Unlikely
Scenario 4: Price stays all the way to 3700 area. Extremely Unlikely
Scenario 5: Below 3700, Start panicking (lol) or wait to buy in the 1200 area... Extremely Unlikely
P.D. This would be a short strategy, i label it neutral, because shorting on BTC is a bit suicidal...
Disclaimer: I am not a professional trader, i am not responsible for any losses you may incur, only invest money you are willing to lose.
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Candlestick Reversals vs. IndicatorsA simple question to think about. Do indicators make charts too confusing, have mixed success, and ultimately fall victim to whipsaw with an occasional big winner?
Would it be better to use an indicator free daily chart and just observe the buyer and seller psychology that candlesticks offer?
Candlestick patterns are powerful. Especially when you observe them around areas of price congestion, support or resistance.
I would love to hear some opinions on these questions. For and against my thoughts.
Multiple Confluences, Should Think about This. Confluence is the combination of multiple strategies and ideas into one complete strategy. Confluence occurs when two or more separate ideas or strategies are used together to form a comprehensive investment strategy that is in line with an investor's risk profile and goals.
Confluence 1- It Looks Double Bottom in Support Zone.
Confluence 2- Candlestick Confirmation
Tweezer Bottom-A tweezer is a technical analysis pattern, commonly involving two candlesticks, that can signify either a market top or bottom. Tweezer bottoms are considered to be short-term bullish reversal patterns,
So stop is very less and Trade is looking Pretty good.
which should be below 580 WCB.
All the best.
Gratify if you appreciate the practice then you can like it, share it and
If you want me to investigate any chart for you then would cherish doing that for you.
Thank you for your time and support.
Stay safe.
LONG - USDPLN - 1HINSTRUMENT:- USDPLN
POSITION:- Long
TIMEFRAME:- 1 Hour
STRATEGY:- Dow Theory + Candlestick Pattern
REASON:-
* Multiple bullish candlesticks (Engulfing + Hammers)
* Trendline not broken
Entry @ CMP
Take Profit @ 4.54274
Stop loss @ 4.43808
Risk to Reward:- 1.91
NAS100 LONGHello traders, here is my update on Nas100 and I've spotted this "RISING THREE". As much as I love the Elliott Wave theory, I also love reading candlesticks too. A RISING THREE is a bullish continuation candlestick pattern that occurs in an uptrend, this is a sign that the market is going to continue higher.
USDJPY - Support and ResistanceAs mentioned a few months back that USDJPY will hit a few bumpers along the way and 1 of it is at 106.01(chart at bottom)
I've engaged in an aggressive short and that is an attribute to candlestick formation, a doji on the resistance level way before the actual movement.
Once the price come in contact with the trendline, I will shift stops to entry and the candlestick close will be my main deciding point if I will intervene and exit the trade.
