In this video I look at a few of the bullish price action patterns that have formed on the daily charts including bullish engulfing bars, 2 bar reversals, and a 1-2-3 reversal pattern. As a side note: I am going to try and keep future videos at 5 minutes or less. I didn't quite hit the mark with this one but am doing a lot better.
In this video I cover what I see as hints of bullishness in the weekly candlesticks, primarily the inside-bar/pin bar setup that formed over the past 3 weeks followed by price breaking up and out of that setup.
Fresh Outlook: Almost 2 weeks ago I pointed out that fact that price action in ETHUSD looked quite bullish and we could see a pop in price. Since that analysis, price has indeed popped and a bullish rally has ensued, at least in the short term. The current price action is that it looks as though the recent attempt by bears to push price lower is being rejected...
Even while bitcoin has been consistently dropping from one support level to the next, there are some bullish price action patterns that have been forming over the past week. Firstly, price is sitting on a critical support trend line on the log chart that goes all the way back to early 2015. Off of this key support level two large bullish engulfing bars have...
While ETHBTC still has a lot to prove to convince me that a long term bottom is in, the current price action is looking short term bullish. Price has formed a bullish pennant and flag, inside of a possible inverse head-and-shoulders. Massive bear trends are difficult to reverse so I would not get too ahead of myself, but I think there is a higher likelyhood of...
ETH has produced yet another bearish pin bar which could produce the next leg down in price. This pin bar formed when price attempted to rally but the rally could not be sustained. There have been a number of bearish pin bars in ETH over the past few months on both the daily and intra-day time frames, from which a number of have produced large selloffs. I point...
ETH's price action has formed some very clean patterns. Going back to early September we can see a double bottom pattern that is forming but not yet confirmed (it will be confirmed with a break-and-hold above $199). From the large bullish move that began on Oct. 19th, we can see a well defined pennant pattern that has formed. Today price has finally broken...
This goes along with the bullish cup and handle pattern that has formed over the past few months. Looking at the weekly candles, the last 2 weeks have formed an inside bar / pin bar pattern. Looking for a breakout of that candle to send ETH higher against XBT.
Last Friday SPY had formed a very large 2 bar reversal from a key support and resistance level. This could see prices rotate down towards 2600 before potentially finding some support. As this market has been strongly bullish , caution is more than warranted if you are looking to short it. Although, this looks to be the best bearish setup that I have seen since the...
In USDPLN we have a nice bullish setup on the weekly charts with a bullish inside bar / pin bar fake-out that has formed off of the bottom of a rising triangle. There have been numerous attempts to break out of this rising triangle, with a number of the attempts producing bearish pin bars which saw price drop immediately lower. Even so, price has continued to...
The EURUSD has formed a bearish inside bar / pin bar fake-out. This has formed on the weekly charts. There are a number of things to really like about this setup: not only is the pattern itself large and well defined, it is also setting within a larger overall bearish trend, and has formed just beneath some key resistance levels. It really checks all of the...
An inside bar / pin bar fake out pattern has formed on the XLE weekly chart. This pattern has formed just below a key resistance level as well as the 50% retracement of the last swing high/low, which is exactly the area we want to see this form. One negative with this setup is that price has formed a very sharp v-shaped reversal off it's lows. That doesn't mean...
The AUDUSD has formed a bearish pin bar setup that is very similar to the NZDUSD. The big difference is the bigger price action picture. The AUDUSD is the weaker of the two, and may end up providing more downside if price breaks down in a major way, but I think both charts have attractive setups worth considering.
The NZDUSD pair has formed a nice, large bearish pin bar. The pin bar has a lot of positives going for it such as a very large upper wick, narrow body, and also the fact that it has closed below the upper trend line of the pennant that is currently forming. The negatives with this setup that I think weakens it a bit is the fact that price is still contained...
Silver has formed a bearish pin bar setup. There is a bit to be desired in this setup, but I think it does set up an opportunity for price to break lower and retest the 14.80 region. In regards to the pin bar, the real body is sitting a little bit high with a little too much bottom wick. I think it weakens the pattern a bit, but it is a fake out none the less...
In DXY we have an inside bar / pin bar fake out pattern that has formed on the weekly charts. This pattern is considered a bullish pattern and has formed within a larger bullish pennant pattern. Last week we saw price break out of the pennant and then pull back in, setting up a short-term bearish scenario. That saw price drop all of the way to the bottom of the...
Short strangle on SPY with a short delta bias. The call is at 288 and put at 259. It is offering about 300$ in premium. My leverage on this is about 0.5x (account balance / underlying notional value). This is a somewhat directional play as well as a short premium play.