AUDCAD - ABCD PatternAn ABCD Pattern has formed. If you have missed it and would like to engage the trade, you could wait for a retest at 0.9075 for a buying opportunity.
Engulfing Candle
GBPCHF - In Trend Engulfing Long Setup 4HGBPCHF has formed a significant bullish engulfing that engulfed 3 previous candles and closed strongly above resistance.
The engulfing candle closed at 4am CST.
Price perfectly rejected the 61.8% fib level 3 times with a wick which confirms this setup.
SL set 3 pips below the engulfing candle low.
TP set at 3X risk.
A BULLISH MOVE IS BEING EXPECTED IN CARERATINGCARERATING seems to look positive on the chart, currently at around 615.
It is being expected that the stock can initially face a Resistance at around the levels of 651, 678 and 720. Whereas on the downside levels, it can face a support at around the level of 602 on a closing basis.
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EURJPY Currency Market Is BullishEURJPY. Bullish Engulfing Candlestick On The 4H Chart. Euro Yen Market Remains Bullish.
CHFJPY - In Trend Engulfing Long Setup 4HCHFJPY has formed a perfect in trend engulfing long setup on the 4 hour time frame.
The engulfing candle formed December 23rd at 8am (closed at 12pm noon) engulfed 3-5 previous candles.
A perfect rejection and wick through 61.8% retracement level confirms this long setup.
Entry is at the 61.8% retracement level.
SL is set 2 pips below the engulfing candle low.
TP is set at 3X the risk.
Very similar setup to EURJPY which confirms JPY weakness.
EURJPY - In Trend Engulfing Long Setup 4HEURJPY has set up a perfect in trend engulfing long setup on the 4 hour time frame.
The engulfing candle formed on Dec 23rd at 8am (closed at 12pm noon CST) engulfed 6 previous candles.
The engulfing candle also closed above resistance of the previous highs.
Price rejected the 61.8% retracement level perfectly which confirms this setup.
Entry at 61.8% retracement level.
SL 2 pips below the engulfing candle low.
TP set at 3X the risk.
Very similar setup to CHFJPY.
#BTCUSD Bullish engulfing candles on weekly$BTC
Bullish engulfing candles on weekly have in past signalled a bottom (check pointers in chart)
#Bitcoin just printed another weekly Bullish engulfing candle
LFG🔥#BTC
XAUUSD Bear Direction and Sell ScenarioPlease if you like my idea hit like and follow me. I need your encouragement.
Gold broke a major swing downward and created a low at ca. 1753 before retracing to QM level. We had a decent reaction at the QM level, and we should get ready for a sell.
The best scenario for me is a retrace to ca. 1809 for a sell. Targets are 1760 and 1739.
Please note this is not financial advice. This is only for educational and entertainment purposes.
GBPCAD - In Trend Engulfing Long Setup (4H)GBPCAD has formed a significant bullish engulfing with a big wick on the 4H time frame.
Confluences:
Huge bullish engulfing candle with a big wick engulfing at least 4 previous candles.
Huge bullish engulfing pattern on the weekly time frame.
20EMA rejection.
Current uptrend.
1st entry: 50% Entry with 1:2 risk to reward.
Safe SL below engulfing low.
2nd entry: Entry after huge wick through 38.2%, 50% and rejecting 61.8%.
Risker SL below confirmation candle low which is also the 2nd higher low.
1:3 risk to reward.
30m time frame allows a perfect view of the 2nd higher low forming which is the ideal entry point for this strategy.
AUDJPY Descending Triangle. Bear Market.AUDJPY is bearish. Three lower highs. Trend Line, EMA 10, and EMA 20 is a negative slope. Engulfing Candle located at lower high.
ENGULFING CANDLE. Powerful reversal candlestick pattern🕯
✅Candlestick patterns trading is one of the oldest but most effective ways to analyze the foreign exchange market. The trader needs to find certain patterns, and based on them, decide where the price will go. Today we will talk about one of these candlesticks, which is called the "engulfing candle". There are two types of it: bullish and bearish. The appearance of such a model on the chart with a high probability indicates a possible reversal of the trend and is a signal to enter the market.
Types of engulfing and their features
⚠️So, we realized that there are two types of this candle:
🟢Bullish. It indicates that the trend is turning towards an increase in the value of an asset or currency pair. The candle must engulf the range of the previous bearish candle to be valid.
🟢Bearish. The same as with bullish, only the opposite. It indicates that the trend is turning towards a decrease in the value of the asset. In this case, the candle must engulf the range of the previous bullish candle.
✅The formation of the "Bullish engulfing" candle says that buyers have sat on the throne, and "Bearish" - sellers. Let's discuss the theoretical foundations of the pattern. In the case of the "bullish engulfing" pattern, everything will be the same, just the opposite.
Rules for the formation of the "bearish engulfing" pattern:
There should be a bullish trend in the market, and the price should be on a key level.
❗️A long-bodied bullish candle appears (that is, directed towards the trend). The opening of the second candle should be carried out with a gap relative to the closing of the first, and its body should be larger than that of the previous one. It seems to engulf the trend with its dimensions, and therefore it is necessary to sell (a bearish candle indicates the beginning of a downward trend).
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AAPL - Sign and ConfirmationThe long upper wick of the candle is a sign of price rejection.
The first bearish pin bar on November 22, followed by another higher high long upper wick candle on December 1, is a sign that the trend is about to bend. Confirming the two sign is followed by another higher high with Bearish Engulfing Candle, this candle pattern could be the confirmation that the upward trend is done.
And also, if you draw a line, you can see that there is a Bearish Broadening Wedge forming.
Apple – Why the bearish engulfing not so bearish NASDAQ:AAPL
Observations:
After breaking the upward channel, Apple is at re-test point on upward band of the channel. (shown at B)
It closed at the 76.4% Fibonacci level from the lows of Oct 2021. (Shown at A)
Though the bearish engulfing is formed, the weakness can be only confirmed once upward channel is decisively broken on downside. The level is also near to 38.2% level at around 155.
Ethereum (ETH) with Bullish Engulfing on 4 h chart Ethereum (ETH) with Bullish Engulfing on 4 h chart - a strong candle pattern.
Also a nice breakout of the RSI - should be confirmed by OBV.
A flip of the MA Ribbon back to green would be the next nice step 😎
Drop me a nice comment if you'd like me to analyze any other cryptocurrency or do another comparison.
*no financial advice
do your own research before investing
SHORT ON GOLD - SUPPLY & DEMANDGOLD is currently at a key supply zone, marked out on the 30M timeframe. Previously, GOLD has rejected this zone with strong momentum, and we can already see strong selling pressure at this zone.
We've just seen a huge bearish engulfing candle formed the 30M timeframe, creating a new lower low. I am now looking for GOLD to come up to supply once more to complete the head & shoulder pattern making that lower high which so happens to line up with the 61.8 Fibonacci level.
I personally believe GOLD is heading higher into the 1800 (Golden zone) where we have another supply zone, however GOLD has started to reject the 30M supply zone instead but please do trade with caution!
Long-term- I believe GOLD is going to break out of this range and head up to the mid-1800 area in the next few weeks/months. This idea is fuelled by the high inflation rate around the world, specifically the US where they are at a 38 year high of 6.8%. GOLD is seen as a hedge against inflation and with concerns over the new Covid variant, investors may start moving their money into safer assets such as GOLD / US Dollar / Japanese Yen.
This is merely a possibility and a trading idea so please do trade with caution and ensure correct risk management is implemented.
Good luck and let me know your thoughts!
3 Potential Indicators of HUGE Gainz!!1. High Demand Area - Every time price has been in this purple box area it has made BIG to moderate upward moves.
2. The biggest Parabolic upside move for CROUSD was after the bullish engulfing candle as marked. Now we could close today at another bullish engulfing candle again.. which means that we might expect similar up action to follow like last time (to a price of around USD 1.00 or above). I say that because the last time we saw a bullish engulfing candle in this high demand area in this same order - we experienced this massive parabolic up-move on 4 consecutive days - reaching a price level of 96 cents.
3. This play perfectly lines up with the stochastic RSI momentum as demonstrated, if the crossing of the blue line over the red line and then working upwards back into the zone away from "oversold" area and keeps moving up - buyers at current price may see really good profits perhaps a 2x of investment if reaching over a dollar after this potential bull run that I am expecting.
AUD/USD - LongThe Aussie Dollar has been on a significant bear run and is starting to show signs of exhaustion.
Structurally speaking, the daily time frame raising channel is holding, with the lower/support trend-line being tested and forming a higher low.
The four-hour time frame just printed a bullish engulfing candle stick pattern at the test of the trend-line which I used as added confluence for a higher low swing.
PYPL - could have bottomed outPYPL broke down from a messy Head & Shoulders formation of sorts (head-shoulder-head-shoulder) in Oct and had been trending down strongly since.
It eventually came down to about 180 on 1st Dec last week, which incidentally was it's H&S target and also a possible horizontal support zone here.
However we only see a decisive bounce off this level today, opening with a gap up, leading to the potential formation of a bullish engulfing candle on the weekly timeframe.
With a confluence of factors (H&S target, horizontal suppport and potentially bullish engulfing on weekly), I am fairly optimistic that it could have bottomed out.
I will venture a long today with initial stop stop slightly below $179. Will take partial profits around $225 (a gap fill) and protect remaining positions with trailing stops.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
XAUUSD D1 possible H&SAlthough xauusd is negative in monthly and weekly time frame, in daily time frame i see a Head and Shoulders formation possible.
The reasons listed below are what make me say gold will grow at least to 1807-1814:
1- D1 bull Engulfing Candlestick Pattern.
2- breakout of H4 down trendline.
3- H4 MacD Divergence
4- 1807 is the top of the left shoulder
I expect a pullback to 1771 (the 1st support level) the next 2 days before rising in a number of days to the TP proposed.
So i will order a buy limit at 1771 with a Sl below 1758 (the last Mn and W1 lows) plus H4 1 ATR points.
Please search hot to use ATR indicator for SL.
Feel free to comment with your own view ❤️
DEEPAK NITRITE - Bullish Engulfing at Retest - Swing TradeThe analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
