as shown on chart second engulfing long entry could be confirmed if close is above 1.44318.
this is my prediction at this point in time, just throwing it out there.
see prior posts for examples. I see this as a counter trend move. profit projection finishes before larger trend line. A long entry would be taken if the flag drawn see's a break out. But currently looking for a long down at the 70cent level and will trade the counter move to this level and look for reversal.
break out at the start of 2010 has now retraced a low between 50 and 61.8 fib in 2014. The 64 cent area has acted as support and we now have a higher low. if price can move past 73 cents it would confirm a higher high and indicate a uptrend is in place. I would look to trade long positions from that point.
Good risk to reward entry with target at the retest of last break out and 50wma.
As shown in the chart, these two ABCD patterns complete around the same level. short with first target the 200ma.
As drawn on the 15min chart there is a large triangle set up. This could break lower but i favor a long setup when viewing the weekly chart. Ill post the weekly below which shows and engulfing candle reversal. To trade this and find an entry it pays to drop to the lower time frame and look for a set up. So this looks to be a good set up if we get a break out and...
All depending on the close. If we see a close out side the wedge , i favor a move to retest prior highs.
Pre market looks bullish and it fits with the day trade engulfing strategy i have posted before. Risk is 1 to 1 so i insure no more than 2% of trading capital risked (or gained). (Limit order as could gap on open.)
break out confirmed long entry. The spread on this pair is poor but worth a crack. trading these small intra day patterns i use a 5 candle break out rule as shown on the chart. I'll exit position if in profit on the close of the 5th candle. if not ill place a profit target and maintain a stop loss. for a confirmed entry candle must close out side the wedge or...
will trade direction of the break of this triangle. 15min candle must close outside the triangle to confirm break. will close position after 5 candles from break (=1hr) stop positioned on the other side of the triangle.
On the daily and depending on the close of current candle there is a potential engulfing candle signalling a long entry on my day trade strategy. You can see prior posts for more details. Interesting to note in the larger picture is the developing wedge. The three strikes to the bottom of the wedge could be a slanted triple bottom. Lower lows could be seen as...
I have a engulfing day trade system that I use and you can see details from my prier posts. This weekly engulfing candle has caught my eye and could be a possible trade. Normally would only use this on the daily charts because entering a trade from a higher time frame can be sloppy and inefficient. It also may take longer as a normal day trade is 1-4 days before...
I have successfully traded this pattern in the past so am a bit of a fan. Normal to a long position but all works the same to the short side. I like this pattern as a trend continuation pattern. I only ever trade it on the daily also. I will post the weekly chart as well so you can see that it's formed after a long down trend has been in place. This current set up...
See the chart for engulfing candle day trade strategy. Risk is 1 to 1 so it requires more winning trades then losing. A manual back test of the strategy looks impressive over the last couple of months.
WOR is America's largest independent processor of flat-rolled steel. The company takes steel from steel producers and processes it for customers in a variety of industries including automotive, lawn and garden, construction, hardware, office furniture, electrical control, leisure and recreation, appliance, agriculture and HVAC. Im not a fundamentalist so im unsure...
Price action showing a reversal at the bottom of the trend channel. A move to the other side of the channel could complete the last leg of a bat pattern.