As we can see after a 4-month breakout with a bullish candlestick pattern
RSI 64.26 towards an upward direction
let's retrace as per shown on the chart whereas, on 15 min chart, you'll see a shooting star and an evening star which indicates slide retracement
so plan accordingly.
enty and exit levels
sl 2020 to 2000 (2.80%)
taget 2230 (8%)
Possible shooting star reversal on the weekly if the next candle closes lower. We are at overhead resistance and there is bearish divergence on the RSI. Could be the bull trap that brings us back to the bottom of the pattern. If we lose all the support levels, we could test the lows again.
BTC is up 100% since the beginning of the year.
The appearance of this...
The dollar has been in a weak uptrend for the past few hours so I decided to take advantage of some indecision at a high. Price presented a shooting star on the 30minute chart as well as a strong bearish engulfing on the 5min at the exact area needed for a short. This area is exactly where price closed at then was immediately rejected on last Friday (6/23). This...
AUDUSD provided a daily shooting star on Monday which signaled that intraday it may become bearish. This re-test is after a Bearish Engulfing was confirmed on the prior touch. The 4H failed to break beyond a monthly resistance. I took a 1H evening star short beneath resistance.
I decided to short UJ here as the 4H shooting star at a re-tested area was a bearish enough signal for me to go short. Price has been making Lower Highs on 4H and daily chart. The bullish candles have been forming with a lot of indecision. This entry was taken based on the 4H close, as well as the 1H presenting a strong evening star at a Evening star re-test. My...
I decided that this pair is relatively close to retracing as the 30min moving average crossed over to the downside and a 30min trendline break. I placed a short order based on the false break close on the monthly resistance. The 4H turned out to be a shooting star at a key area. I believe that Buys are short term over. Now is the time to profit from shorts....
Obviously, going short at every supply zone or going long at every demand zone doesn't work every time. If it did trading would be too easy and no one would lose. So, how do we trap the losers and become the winners? Wait for a liquidity sweep above, most often indicated by a bearish shooting start candlestick with a close back below the supply zone. Previous...
In this Knowledge Nugget, I have explained logic behind my own trade in "IZMO" which rallied 50% + from its swing low in just days. I am found of entering such stocks for one round of buying at support level with my own set up logic.
This is for educational purpose & please do not copy this trade without understanding risk & position sizing.
The chart is clear, the daily candle just closed like a shooting star in the futures session. It is not enough to say that a correction is coming, but if it closes below today's closing level tomorrow, it is very likely that it will drop quickly.
It's a great thing we're no longer fooled by big big candles being a big move. Proce closed pretty Bullish on Sunday only adding to the combination of randomness . Anytime price created a lower low, I project and expect it tush lower after a retest. This is exactly what price is doing, a reversal candlestick at a key area suggests its almost time to short. If...
USDJPY has been uptrending rather strong for quite a few weeks now. Its common that you'd like to go go against the trend, however, the only way to learn how to trade reversals is to trade them. Price presented a volatile shooting star for the close of Thursday. (4H). The daily had some wick action also. The 1H had a moving average crossover to the downside before...
EURGBP has attacked the resistance line several times, but it seems that the 💡sign💡 of the failure of this attack can be the formation of the Evening Star Candlestick Pattern on the resistance line and near the 🟡 Price Reversal Zone(PRZ) 🟡.
I expect EURGBP to fall to the 🎯targets🎯 I specified in the chart; I also shared a short position with RR=2.28 with you,...
• NVDA finally hit its long-term target this week, the 289 resistance, which I mentioned in my previous public analysis (the link to it is below this post, as usual);
• It has been correcting since then, as it did a top signal just under our 289 resistance (Bearish Harami). However, the trend is still bullish, as NVDA is still doing higher highs/lows and it is...
Price is moving in a triangle and has pulled back from resistance, forming a shooting star candle.
The targets are the previous support levels:
143.8; 142.2; 141.4
If you find it useful, like, follow, share!
We have a nice intra-week setup on the USDJPY here that could lead to a continuation of the downward trend in the form of a Bearish Shooting Star with Bearish Divergence at the PCZ of a Bearish Shark on the Hourly Timeframe