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The bearish engulfing candlestick is one of the more popular and well known candlesticks. It works very well as a bearish reversal, performing that way 79% of the time (ranking 5 out of 103 candlestick types where 1 is best).
Trendlines after weekly close.
This pair has fallen quite a bit, but it looks like it might still have one more leg of decline left.
After bouncing up from the strong support level, prices were unable to stay up long, and ultimately formed a bearish pin bar.
Since prices were rejected on the upside, there is a strong possibility that prices will head down to test the support again.
RSI confirms short position. Target - next Fib level (92 pips). Stop above the star's tail (42 pips).
First of all, I don't really want to short this name.
But this trade is too good to ignore, a harmonic pattern and daily shooting star combination!
I won't take the trade as I don't have other conviction to short Boeing at all,
but I would very like to record this trade down and see how it goes yo!
Still, this is a better sign for the bulls to take some profit ...
4th consecutive day of rejection.
Shooting Star and Doji fully formed.
Confirmed resistance area at 370.0.
Market overbought by looking at the Stochastic.
Singapore30 should give us a potential short opportunity.
- SHOOTING STAR ON DAILY CHART
- ENTRY PRICE: 112.487
-SL: 112.790 -30PIPS
-T: 112.110 37PIPS
NICE TRADES EVERYONE :)
This is my trade for this week for usdjpy.
Shooting star on the daily confirms price reversal.
We have 2 targets on this trade.
I will update this trade soon when we reach 2 likes.
Likes and comments are welcome!
AUDUSD forecast - location - setup
Two possible scenarios for this week:
- Green arrow: Price tested an old and strong weekly support but USD is not strong enough to break it definetively; rebound up to channel line.
- Red arrow: support is no more valid; bear shooting star formed on friday and moving averages are going south. Enter below 0.71300 and keep open for ...
As correctly analyzed, Monero broke above the trend line resistance and corrected higher. We wrote on Aug 27 that "...the 100 DMA is approaching the horizontal resistance and IF Monero gets eventually there, we may have a confluence of two huge resistance players - horizontal line and 100 DMA, around 0.01770". As a result, the coin did exactly the same, moreover, ...
I bring you here an interesting view LONG TERM on EUR/USD.
In this chart we can see EUR/USD is about to become a long time bear.
We have a bearish cross on MAs, Broke an almost 2 year old support trend line and now after retest the trendline a Shooting Star Candle.
This trade has big downside potential and for those who love swing trading will ...
USDJPY H1 Make Shooting Star Pattern and for scalping we can short it fir Now
Nice shooting star candle formed, rejection right on 61.8%. A long above the high. And a short trade through 1.518 support.
We got blindsided by a surprise bull run Friday 8/24 which seemed so unlikely I was horrified and amazed all at once.
In retrospect, some sort of rally was to be expected off the Thursday low prices, and I hedged my bets in case, but this was quite bullish indeed.
In spite of making a new high closing price on Sand P, US 30 did not confirm the high ...
Compare to 6/14 Harami cross. Identical price behavior 8/21-23 c/w 6/12-14 and 8/7-9. Slapped down hard from high channel retest after 8/21 high.
All the Doji have been seen- pin bar, shooting stars, Harami crosses, engulfing bears, Red Shooting star today. Perfect setup for lower and soon- imminent.
Today I observed a bear flag all afternoon following the ...
Bitcoin is printing a bearflag on the daily with a huge "fuck you, bulls" candle yesterday. If you looked at my last post you'll see I was expecting a dead cat bounce to 6.8k - 7k. I now believe bulls are running out of time to put together a bounce, and if we don't see a bounce soon, the shooting star wick we got into the 7k range might have been the "bounce". ...
Compare/contrast to 11/12 June top and throwover. Bearish engulfing candle. Shooting stars. On intraday we saw hanging man twice, and shooting star in SPX 8/.21.
Expect imminent throwover to entry on wave C of ABC ZigZag correction pattern within days, after reaching all-time high on SPX 8/21, US 30 25888 at Fibo 0.786 from Jan 26 high. Target 23531.
Expect gap down and significantly lower based on very bearish futures in PM. C wave beginning- soon. It might be very strong b/c it's a combo of primary ABC from Feb cycle and an intermediate ABC coming off the June swoon, both waves terminating at this juncture. Possible low target zone 23531 at Nov/Dec 2017 support. Good luck!
As always, this is not investment ...
Going down! I shorted at 2873...