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Candlestick Analysis

PLTR: A Dangerous Top Signal Appears!Key Observations: Daily Chart (Left) Inflection Point: The price has fallen back, approaching an inflection point around $40.36 after failing to sustain momentum above the recent high at $45.00. This area could act as a short-term support, and any further weakness below it could signal a potential shift towards bearish control. EMA Support: The daily chart shows the 21-day EMA as a potential dynamic support near the inflection point. There is still time for PLTRT to react, but for now, there is no bullish signal around. Weekly Chart (Right) Bearish Engulfing Pattern: A bearish engulfing candlestick pattern has formed near the all-time high around $45.00, signaling potential bearish reversal pressure at a major resistance level. This pattern often suggests that sellers have overwhelmed buyers, which could lead to further downside or at least a consolidation phase. According to Bulkowski's studies, a BE reverses the trend 79% of the time, so it is a quite powerful candlestick pattern, and we shouldn't ignore it (Encyclopedia of Candlestick Charts). Long-Term Uptrend: Despite this bearish signal, PLTR has been in a strong uptrend on the weekly chart, supported by the 21-week EMA, which is currently below the price. Any correction from here might still be viewed as a pullback within a broader uptrend unless key support levels break down. Conclusion: PLTR's chart shows short-term bearish signals, particularly with the bearish engulfing pattern near the all-time high. Watch for support around $40.36 and the 21-day EMA as critical levels for short-term sentiment. The long-term uptrend remains intact, but this could be a phase of correction or consolidation. In order to avoid a bearish scenario, PLTR needs to react, above the $40, and break the $45, maintaning the price above this level on the wekly chart. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
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by Nathan_The_Finance_Hydra
5
Chipotle: Has the Selling Begun?Chipotle Mexican Grill has been rallying for years, but some traders may think the uptrend is ending. The first pattern on today’s chart is the series of higher highs and higher lows since August. Coming after a big slide in July, that channel could be viewed as a bearish flag. Second, this week’s drop after quarterly results may result in a breakdown from that consolidation. Next, prices have crossed under the 50- and 200-day simple moving averages. Fourth, the recent high was near a price range that offered resistance in March and support in June. Is it resistance again? These patterns, coming after the June 26 stock split, may indicate CMG is running out of catalysts. Finally, there could be signs of a bearish channel starting on the weekly chart: TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NYSE:CMG
by TradeStation
Australian ASX 200 SPI futures look good if you're a bearThe picture for Australian ASX 200 SPI futures look good if you're a bear. We've seen a bearish engulfing candle on Wednesday with follow-through selling today, accompanied by an uptick in volumes. Momentum indicators are providing bearish signals, too. But it is month-end and the price does find itself sitting on the 50DMA, a level that has been respected consistently apart from a period between June and July this year. Even though price and momentum signals suggest selling rallies may work better than buying dips in near-term, unless we see a close beneath the 50DMA, going short beforehand comes across as a low probability play given prior interactions with the level. If the price closes and holds beneath the 50DMA, you could sell with a stop either above it or 8200 for protection. On the downside, 8080 is the first level of note, but to make the trade stack up from a risk-reward perspective, 7860 comes across as a more appropriate target. Good luck! DS
ASX24:AP1!Short
by FOREXcom
1
Trade Recaps: USDJPY-LONG, AUDUSD-SHORT, 30/10/2024UJ Bias Analysis: Price corrected deeper into the 1H range discount, entering a 1H OB and confluent 1-sded FVG. The deeper retracement protracted lower at London open, sweeping Tuesday's low as it mitigated the KI areas before entry confirmation was received. Grade: High Quality Valid AU Bias Analysis: Price distributed higher aggressively at London open. This distribution was misinterpreted as a protraction which was sweeping 1H TBL, where it was actually shifting structure to the upside. Price traded higher into a 4H OB, where entry confirmation was received and a short position was executed. This was an invalid trade as the shift of structure to the upside violated my trade parameters which require the entry to be in alignment with the 1H range. Grade: Invalid What I did well or could've done better: - Executed aggressively on the setups during my forecasting session despite a shorter day at work. Focus was good. - Managed the trades according to the plan. - Misread the distribution AU as a protraction, when it actually shifted 1H structure long which did not align with my trade parameters - Took a trade that violated my plan as the UJ loss closed out today, which meant I only had 1 trade I could execute on instead of 2. - I did not identify what would've lead me to be risk off on a setup and was only focusing on execution characteristics. - I had a strong bias towards Dollar strength today, which led to marrying my bias and resulted in an invalid trade.
Short
by The_Modern_Day_Trader
BTCUSDT Long Term Analysis (4H Chart)Technical Analysis Summary BTC/USDT TREND ANALYSIS We have 1 Upward trend in green color (Long Term) Be careful trends need to be modified when broken to the new peaks (Downtrend) and lows (Uptrend). FUTURE PREDICTIONS We have 2 support levels that I have mentioned above in the long term. The 4H Support level that is protected by the daily level can be support level to be hit and then let bitcoin move upward to new highs or if broken most probably we will be moving downward to the 40000-dollar mark to reach the greediest level and lowest and most likely go upward from there and is a great place to buy. I use thickness as an indicator of strength of levels (ONLY FOR VISUALS). White Levels are stop losses or levels and trends that were respected from the past. Yellow Levels are tighter stop losses and generally will be used after trade is in small profit to start lowering the loss in case trade goes against us. Good luck everyone, stay safe! If you need help ​don't hesitate to send me a message or comment If you find this content beneficial, please don't forget to LIKE and FOLLOW Trading Involves High Risk Not Financial Advice
Long
by husseindergham
USDJPY Long Term Analysis (4H Chart)Technical Analysis Summary USD/USD TREND ANALYSIS We have 2 Upward trends in Green color (Long Term and Short Term) Be careful trends need to be modified when broken to the new peaks(Downtrend) and lows (Uptrend). FUTURE PREDICTIONS We have 1 resistance and 1 support levels that I have mentioned above in the long term. I use thickness as an indicator of strength of levels (ONLY FOR VISUALS). White Levels are stop losses or levels and trends that were respected from the past. Yellow Levels are tighter stop losses and generally will be used after trade is in small profit to start lowering the loss in case trade goes against us. Good luck everyone, stay safe! If you need help ​don't hesitate to send me a message or comment If you find this content beneficial, please don't forget to LIKE and FOLLOW Trading Involves High Risk Not Financial Advice
Long
by husseindergham
2
EUR/USD Builds Bullish Momentum with Strong Support and Pin BarAfter bottoming at 1.0760 exactly one week ago, FX:EURUSD has started to consolidate, forming what appears to be a base. Since then, dips below 1.08 have been consistently bought up, culminating in a strong bullish Pin Bar candle yesterday. To further support this bullish outlook, this base is forming at a key confluence of support levels, reinforcing the potential for an upward move. With this in mind, I am looking to buy this pair, ideally on a dip, to ensure a positive risk-to-reward ratio of 1:2. My target for a reversal is set at 1.0950, with respect to 1.09 resistance (this could serve as short term trader's target)
Long
by Mihai_Iacob
7
50 Hours EMA and Trendline resistance again stop Nifty progressAgain The Mother line (50 Hours Resistance) and trendline resistance threw spanner in the growth effort of Nifty. Till Mother line and trendline thereafter is not crossed we can't reach Father line resistance which is at 24853. Supports for nifty remain at 24307, 24173 and finally 24073. Below 24073 Nifty will become very weak and bears will spell further doom. Resistances on the upper side remain at the zone between 24448 and 24513 (tough to conquer Mother line and Trend line resistance respectively), 24613, 24730 and 24853. Above 24853 the critical resistance will be the zone between 24860 and 24971. Bulls can come back into the game after the close above 24971. Above 24971 Bulls can create an upward rampage. Tomorrow is a very critical day where Nifty going into November needs to close above 24513 or atleast above 24448. Signs are looking little difficult for Nifty with a negative shadow of the candle but festive buying can bring back the bulls in action hopefully. . To know more about Techno-Funda investment, Mother-Father and Small Child theory, Happy Candles Number read my book The Happy Candles Way to Wealth Creation. Gift it to yourself or your special ones this festive season. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment