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Candlestick combinations are mentioning correction continuation.Greetings all. Two important things. Candlesticks combinations are not bullish at the moment and are mentioning more correction. Trying to spot which downtrend wants btc to keep alive and assuming that we already lost the macro downtrend line from 20k break out, seems that we gonna retest the macro downtrend from 11k break out. This is somewhere near 50% correction from the top of 64k. In my opinion this will mention a super-bullish cycle momentum for bitcoin.
BITSTAMP:BTCUSD
by UnknownUnicorn15191661
BTC - W1 - WARNING ! BEARISH ENGULFING PATTERN !!!W1 : Last week price action triggered a BEARISH ENGULFING PATTERN ! Interesting to note that lowest seen was 51'541, close to the 38.2% Fib ret @ 51106. Of course, such kind of bearish candlesticks, should be, in this W1 time frame, confirmed on a closing basis at the end of this week ! Nevertheless, the fact that we get out of the uptrend channel is one of the first warning signal that the former bullish trend could be over. Watch shorter time frames to monitor the ongoing price action which would allow to act accordingly on the time frames you choose for your trading strategies ! Have a nice trading week, all the best, take care and have fun ! May your long goes up and your short goes down. And finally, please do not hesitate, of course, if you find, my technical analysis approach, valuable for you, to like it and to add me, if it is not done yet, on your following list. Ironman88848
BITSTAMP:BTCUSD
by Ironman8848
A SHORT SHORT OR LONG SHORT?FOREXCOM:GBPJPY Candlesticks are consolidating around 142 (Le Resistance)... Also DOJI in play. Will this be the beginning of a BEARISH reversal to the downside or will the BULLS keep pushing above 142.200 ??? This wave hasn't had a higher high yet... HMMMMM.... I'm looking for quick short to 141.700 or maybe a break above 142 and retest as a support. Then it's UP, UP, UP and AWAYYYY. Otherwise, we're going... DOWN DOWN BABY, down by the roller coaster Sweet sweet baby, I will never let you go, Shimmy shimmy cocoa pops, Shimmy shimmy pow!
by QueensChamber
Does Anyone Remember Netflix?Streaming-video giant Netflix has been dead in the water since early July. But now some of its chart features could be getting interesting. First, NFLX’s range of motion has tightened lately as the rest of the market’s expanded. We can see that in its bullish inside week (beginning November 16). Two small candles have followed as prices inched higher. Bollinger Bandwidth is also back to the narrowest end of its normal range (on the daily chart). Second, MACD has started rising. This also signaled gains at previous times like mid-June and early October. Third, NFLX is challenging its 50-day simple moving average (SMA). The last couple of times it tried to break this SMA (October 29 and November 6), it quickly backed down. But this time it’s pushed for four straight sessions without failing. Fourth, bearish candlesticks on November 9 and November 23 had no downside follow-through. Instead, buyers stepped in to defend incrementally higher lows on the stock. Finally, the fundamental story could shift back in NFLX’s favor if coronavirus cases continue to increase into the winter. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:NFLXLong
by TradeStation
3
SLQT Pivot point, looking for confirmation from candlesticksRecent IPO SQLT has crashed from it's opening share price of $20/share - which actually went on to open at $26-$28 the first day of trading, for several weeks, until it crashed to it's recent low, around $15.80. This was met with strong resistance, and a bullish candle formed, with a large amount of volume, signalling a potential reversal of the market. The stock price has been consolidating at this new level, and we must wait for confirmation of another signal before making any moves.
NYSE:SLQTLong
by Shwayze
Morgan Stanley Nuzzles SupportFinancials have been one of the weakest corners of the market lately, thanks to credit worries and falling interest rates. Of all the big names, Morgan Stanley has held up the best. It’s down less than 3 percent on the year, compared with drops of more than 20 percent for other key stocks like Bank of America and JPMorgan Chase. MS has performed better fundamentally because it has more exposure to wealth management. That helped it deliver a strong quarter the last time earnings were reported on July 16. The stock jumped at the time but didn’t go far. One reason was that stochastics were overbought. Another was the fact its 50-day simple moving average (SMA) was below the 200-day SMA. Both of those conditions have now flipped. Stochastics show an oversold condition, and a “Golden Cross” of the 50-day SMA above the 200-day SMA occurred on July 17. MS is also showing signs of basing out around the same $49 area that marked the top of its range in late June and early July. Notice the recent hammer candlesticks around that level. It’s also nuzzling the 50-day SMA. Traders may want to take a long bias as long as MS remains above the 50-day SMA, or the July 31 low of $48.27.
NYSE:MSLong
by TradeStation
Lots of accumulation, ready to move.Daily GXSBTC volume has diminished quite a bit, and we are seeing the immediate aftermath of huge volume accumulation. That increase in volume and buying pressure set off a pump, and a long exhausted wick set the market sideways. Just a few candlesticks can tell us a lot - we recently had all GXS on the market from ~4700 sat to ~6000 sat bought up in a single candle, immediately after which the accumulation abruptly stopped. Shortly after that GXS was sold for a 40-60% profit over a two-candle period that exhausted the buyers on the market. They effectively cancelled each other out. Will have to wait for volume to start coming in to judge the market sentiment.
G
by HeyJonBray
Trade Journal: Long $LK - Inside Day/Coiled Spring - 2/18/2020Ever since the Muddywater news drop and recovery, LK had been consolidating right under 39 before recently breaking out. LK had been holding above the rising 50MA indicating strength. On 2/13 and 2/14, LK made two inside day candlesticks in a row and formed a coiled spring on the 30m timeframe. This is an indication of future volatility and a possible breakout. My gameplan was to go long on 2/18 when LK broke out and above 39. Entry - 39.93 Stop loss - 37.33 Target - 50
LLong
by Trader_Kaji
eu possible continuationassuming that price is respecting the higher tf candle stick formations price has the highest likely hood of still being bearish , lower tf setup wasn't the clearest, but got a last minute market execution and sell stop below wickfill right before positive USD news release. 4hr candlesticks were currently also creating bearish harami so I was trading with that move. ( i recognize price could defintily be reversing from the golden ratio, BUT because of the rejection occurring at the retest of the 50% level I am holding for a further drop)
Short
by SharingProfit
2