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Engulfing Candle

Will #BITCOIN retest 41k july 5th through 11th?? Let's Find Out!Before I proceed, check my previous Daily Post on Bitcoin to have an Overview of what we are working ON. on 4H we have seen a valid Trend-Line with Break-Out, I am a FAN of Consolidation Break-Out at Resistance and Support Zones. This Break-Out are important part of my STRATEGY. Okay, back to the chart, we have seen a break-out of the Downtrend and a retest of the Trendline. Consolidation occurred with a STRONG Bullish candle break-out, we're currently looking forward to the break out of the Resistance Zone to LONG towards upper channel Trendline acting as Resistance and then a retest ( Retest doesn't have to occur and if it occurs, it doesn't matter if it retest the Zone ). A valid Bullish Engulfing towards the Zone after the upper trendline acting as Resistance is completed gives us a CONTINUATION as illustrated with the LINES.
Long
by MII1502
PLTR: Time to panic? A Multiple Time Frame Analysis!Hello traders and investors! As you asked, I’ll look at PLTR again this week! Some people are getting nervous about it, so, let’s talk about it. We'll do a complete Multi Time Frame Analysis (MTFA) today. First, as some of you pointed out, yes, we have a H&S pattern in the 1h chart, which was triggered, and it already hit its technical target, at $ 24.52 (previous bottom). Now, not by coincidence, it is starting to react. This point is a good bottom candidate. If you look at the daily chart, PLTR dropped sharply since it retested the resistance at $ 27.47. This movement was extremely technical, as PLTR hit the resistance, did a bearish engulfing, and now it is seeking supports again. But remember: The trend is still bullish . We have higher highs/lows, and the 21 ema is going up. We are slightly under the 21 ema now, but that’s ok. PLTR went up a lot since May’s bottom. The weekly chart gives us another clue about PLTR. It is dropping sharply this week (-8%), but the volume is extremely low, indicating that this is not a true sell-off, but only people not interested in trading PLTR at $ 27, so the price must drop a little bit more to get more interesting. This bearish candlestick came after a series of seven white candlesticks in a row, so, this was already expected , and there was no better top candidate than the resistance at $ 27.47. As this is just a pullback, in my view, I see no reason to panic, and I still see PLTR filling the gap at $ 31.34. I hope my insights helped you, and if that’s the case, remember to follow me to keep in touch with my studies, and support this idea if you liked it ! Thank you very much, have a good weekend!
P
by Nathan_The_Finance_Hydra
12
What you should know about PLTR! 👀What you should know about PLTR! 👀 Today PLTR stressed our support levels we talked about yesterday, but it didn’t break them. These supports are holding the stock pretty well, and the more it accumulates above these levels, more interesting will be PLTR’s next movement. I think this is a good movement on PLTR. The BBs are getting tight again, and the RSI is starting to get oversold. But maybe this is not enough: We just hit a resistance, and we have a bearish engulfing in the daily chart. The pattern was triggered today, and the RSI has a long way before it gets attractive again. All of this indicates more correction, but I don’t think this correction will last too long. The closer it gets to the 25, the better. Soon it’ll give us another trade. No, it is not the time to buy, thanks to these signs, but it is not the time to go short either. Let’s calmly wait for our next play. I’ll update you guys every day. Keep in mind that our target is the 30s! If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
P
by UnknownUnicorn21312077
4
I warned you about the 27.01! 😱The situation is quite simple on PLTR today! We are dropping, just as we expected, because it lost the 27.01 that we talked about yesterday, and now PLTR is looking for support areas to hold itself. No, it won’t drop forever, and it’ll recover at some point, the question is, which point? We have a pivot at 26.45, if triggered, I don’t think the 26.26 will hold it, and we’ll drop more – but not much more. We are still a little overbought in the 4h chart, and if PLTR drops to its red line again, it’ll be great. The situation is more serious in the daily chart, tho. We have a bearish engulfing that could make PLTR drop to the 25s again. The RSI is overbought here too. We must be careful. We must watch the pivot in the 30min, as it’ll tell us if PLTR will turn bearish for now, or not. If it turns bearish, we’ll look at the 25 – 26 area, as it might be a chance to buy! PLTR is moving according to our plans, for now! If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
P
by UnknownUnicorn21312077
5
PLTR: Harmless pullback or reversal? How to tell the difference!Hello traders and investors! Yes, PLTR hit the $ 27.45 as we said it would in our last study (the link to my previous idea is below this post), but what to do now? The $ 27.45 is a secondary target in my view, but it is working very well as a resistance. Now we can expect some struggle around this area, and the fact that PLTR dropped below its 21 ema in the 1h chart reinforces this idea. It is interesting to notice that it is dropping a lot, but the volume is not that good . This tells us that this is not a true bearish movement, just a harmless pullback. This resistance is quite relevant in the daily chart, and today we have a Bearish Engulfing (so far). This might cause a pullback to the purple trendline or even to the 21 ema again. This wouldn’t be surprising, and PLTR will still remain bullish. Remember: In a bull trend, we have higher highs/lows, but we do have lows . Sometimes, people get anxious when we are doing higher lows, and think it is the end of the world. To identify a harmless pullback, just look at the volume: If it is dropping, with lower volume, than it is just a pullback. This follows the 5th tenet of Dow Theory: The volume must confirm the trend. If the volume doesn’t confirm the trend, we must be careful. If you see a bearish structure, like lower highs/lows, then we are talking about a reversal sign. Today’s movement doesn’t change my target on PLTR, at $ 31.34, and since we bought around the $ 20, we are in a very comfortable situation. If you liked this analysis, remember to follow me to keep in touch with my daily updates. Also, support this idea if it helped you! Thank you very much!
P
by Nathan_The_Finance_Hydra
39
PLTR: You know how to deal with gaps, right?Hello traders and investors! Let’s update our thoughts on PLTR today! First, it defeated the $ 25.23 area we talked about last week, but only after it retested the purple trendline one more time. Now PLTR is defeating its resistances, a nd there’re no pullback/reversal signs around. The 21 ema is pointing up, and it is another support level that could hold PLTR in case of a pullback. Let’s look for more clues in the daily chart: We have a secondary resistance at $ 27.41, but since PLTR has been defeating all its resistances, I see no reason to be concerned about this black line. I still see the gap at $ 31.34 (yellow square) as a target for us. Remember, gaps work as magnets for the price . So far, we are making about 30% on PLTR, and if it fills the gap, we’ll do more than 50%. Another trade we did using a gap as a guide was on PINS, which filled its gap today, and we bought when it did a bullish engulfing in the weekly chart. I didn’t write a free analysis about it, though, I’m just telling this for educational purposes , to show you how to use gaps in your favor. This tells me that PLTR can hit our target, we just need to be patient. If you liked this analysis, remember to follow me to keep in touch with my updates and ideas, and support this post if it helped you! Thank you very much!
P
by Nathan_The_Finance_Hydra
2
GBPUSD Good buy opportunity!Based on the chart, price have reached a major support area and a false breakout have happened. Also based on this false breakout we can conclude that there is strong demand at this area which can be good sign of buyers strength. Even more based on candlesticks, we can notice a good bullish Engulfing formed here 3 days ago while we can see no sign of sellers power. So based on this scenario I opened a buy position with a great risk reward ratio which can be about 1:4. Note: As always please take risk management rules into consideration before opening any position on the market. Good Luck!
Long
by Brian_Philips
EURJPY good opportunity for buyers!Based on the chart, price dropped on a major support area and a good rejection completed (We can see a very good bullish engulfing candle on the chart!). The rejection was so strong and it can be a good sign of buyers power at this area. Also we have to consider that we are in a uptrend situation. So based on these scenarios opened a buy position with a good risk reward which is about 1:3. Note: As always please take risk management rules into consideration before opening any position on the market. Good Luck!
Long
by Brian_Philips
A trading idea on Nike! 👀Hi everyone! Today’s trading idea is on Nike (NKE)! It is a long trade for 3 reasons. First, the pivot at 131.83 was broken today, and this might be the beginning of a good movement next. Second, the RSI shows an advanced breakout, and this is another confirmation we have here. Third, we are near support level in the 4h chart (130.48), and NKE is doing some interesting reversal patterns around, like a spinning bottom and recently, a bullish engulfing. If it loses the support, we should get out. The target is the 138. If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
NYSE:NKE
by UnknownUnicorn21312077
2
POSIBLE BEARISH ENGULFING ON THE 4 HOUR TIMEFRAME (BTC) SHORT First of all please get this technical analysis to 30+ likes to unlock tomorrow's alpha post 👍 Good afternoon traders, we have a possible bearish engulfing candle on the 4 hour and will confirm if we close below $36,200 (ish) so watch out for the next hours to come as we head into the daily close and weekend. Could be a messy weekend if my bias towards the market is correct and I'm seeing things clearly. Stay safe and avoid leveraged longs because if this ship decides to stink it won't be a happy ending. Please show your support and either like/comment 👍
COINBASE:BTCUSDShort
by YurloTrades
4
Bull or bear beat holding +249.2% over a year, in profit in MayAs traders we look to capitalise on all sort of markets, not just parabolic runs. Today we are exploring how to run a long strategy even when the bulls are not in control. WILL POST LAST 50 POSITIONS BELOW We are looking for an strategy that: 1. has been beating buy and hold all year 2. Has a drawdown of max 15% in may 2021 3. Is simple to execute and automate Not all candlestick patterns are created equal, and they do not work on all markets. However they do work in crypto, at least based on experience as they are not tough to identify and speculators tend to react to them. This is why we focused on candles that are not that difficult to identify and are very clear in meaning. The strategy (FULL INSTRUCTIONS): On the 30 min timeframe: We are going to open a position when the candle is a bullish Engulfing We are going to close the position when the candle is bearish Marubozu No stop loss or take profit, these are the only rules we follow, but we follow them a 100% of the time. The results: The strategy brought in 249.17%, beating holding. If you started trading this a year ago with 1 Bitcoin, you would be 2.4917 BTC in profit at the moment. What's even better the max drawdown throughout the year was 22.7% and it was actually in February. During May we were only 11% down at a certain point. This provides a Sortino Ratio of 5.44 which is a stellar mark for these volatile markets. The positions: 31/05/2021 04:30 31/05/2021 14:00 10 hours OP 0.06681 CP 0.068884 +3.1% 29/05/2021 21:30 30/05/2021 19:30 22 hours OP 0.065407 CP 0.067746 +3.58% 29/05/2021 00:30 29/05/2021 18:00 18 hours OP 0.068427 CP 0.066952 -2.16% 28/05/2021 07:30 28/05/2021 14:30 7 hours OP 0.069574 CP 0.069572 -0.00287% 25/05/2021 18:00 27/05/2021 19:30 2 days OP 0.068144 CP 0.071024 +4.23% 24/05/2021 00:30 25/05/2021 03:30 1 day OP 0.061435 CP 0.067043 +9.13% 22/05/2021 22:30 23/05/2021 12:30 14 hours OP 0.062197 CP 0.0581 -6.59% 22/05/2021 11:00 22/05/2021 17:30 7 hours OP 0.064251 CP 0.06059 -5.7% 19/05/2021 22:00 20/05/2021 21:00 23 hours OP 0.066705 CP 0.068997 +3.44% 17/05/2021 23:00 19/05/2021 07:00 1 day OP 0.075193 CP 0.074787 -0.54% 17/05/2021 06:30 17/05/2021 09:30 3 hours OP 0.076593 CP 0.077412 +1.07% 14/05/2021 13:00 15/05/2021 14:30 1 day OP 0.079504 CP 0.078525 -1.23% 13/05/2021 16:30 13/05/2021 23:30 7 hours OP 0.076788 CP 0.074242 -3.32% 12/05/2021 10:30 13/05/2021 15:30 1 day OP 0.075732 CP 0.075619 -0.149% 11/05/2021 06:30 12/05/2021 10:00 1 day OP 0.071125 CP 0.075353 +5.94% 09/05/2021 16:00 10/05/2021 11:00 19 hours OP 0.06759 CP 0.069748 +3.19% 07/05/2021 13:30 09/05/2021 00:30 1 day OP 0.061147 CP 0.065733 +7.5% 05/05/2021 01:30 06/05/2021 23:30 2 days OP 0.061121 CP 0.061832 +1.16% 03/05/2021 00:30 04/05/2021 22:00 2 days OP 0.05225 CP 0.061328 +17.4% 01/05/2021 22:30 02/05/2021 05:30 7 hours OP 0.051064 CP 0.051111 +0.092% 30/04/2021 19:00 01/05/2021 15:00 20 hours OP 0.048829 CP 0.049703 +1.79% 30/04/2021 09:30 30/04/2021 16:00 7 hours OP 0.051113 CP 0.047849 -6.39% 29/04/2021 08:30 30/04/2021 02:30 18 hours OP 0.050351 CP 0.051114 +1.52% 28/04/2021 10:00 29/04/2021 00:30 15 hours OP 0.04799 CP 0.049829 +3.83% 27/04/2021 00:00 27/04/2021 19:30 20 hours OP 0.046896 CP 0.047795 +1.92% 26/04/2021 10:00 26/04/2021 13:00 3 hours OP 0.046466 CP 0.046378 -0.189% 24/04/2021 21:00 25/04/2021 13:30 17 hours OP 0.045035 CP 0.046231 +2.66% 22/04/2021 20:00 24/04/2021 17:00 2 days OP 0.04791 CP 0.044796 -6.5% 19/04/2021 12:00 22/04/2021 18:00 3 days OP 0.039343 CP 0.04728 +20.2% 16/04/2021 10:30 17/04/2021 19:00 1 day OP 0.03943 CP 0.039117 -0.794% 15/04/2021 18:00 16/04/2021 05:00 11 hours OP 0.039286 CP 0.039291 +0.0127% 13/04/2021 17:30 15/04/2021 17:00 2 days OP 0.0363 CP 0.039141 +7.83% 13/04/2021 14:30 13/04/2021 17:00 3 hours OP 0.03575 CP 0.035968 +0.61% 12/04/2021 11:00 12/04/2021 12:30 2 hours OP 0.035761 CP 0.035598 -0.456% 11/04/2021 03:30 12/04/2021 09:30 1 day OP 0.035639 CP 0.035866 +0.637% 10/04/2021 21:00 10/04/2021 23:30 3 hours OP 0.035761 CP 0.035688 -0.204% 08/04/2021 22:30 09/04/2021 13:30 15 hours OP 0.035729 CP 0.035448 -0.786% 08/04/2021 02:00 08/04/2021 18:30 17 hours OP 0.035231 CP 0.035636 NA +1.15% 05/04/2021 05:30 06/04/2021 19:30 2 days OP 0.035409 CP 0.036274 +2.44% 02/04/2021 13:00 04/04/2021 03:00 2 days OP 0.033704 CP 0.035098 +4.14% 01/04/2021 13:30 02/04/2021 04:00 15 hours OP 0.032793 CP 0.033349 +1.7% 30/03/2021 06:30 31/03/2021 22:00 2 days OP 0.03138 CP 0.032743 +4.34% 27/03/2021 09:00 30/03/2021 02:30 3 days OP 0.030822 CP 0.031326 +1.64% 26/03/2021 02:00 27/03/2021 04:00 1 day OP 0.03114 CP 0.030919 -0.71% 25/03/2021 16:00 25/03/2021 20:00 4 hours OP 0.031273 CP 0.030754 -1.66% 23/03/2021 17:30 23/03/2021 20:30 3 hours OP 0.030826 CP 0.03091 +0.272% 20/03/2021 15:30 23/03/2021 00:30 2 days OP 0.031261 CP 0.030839 -1.35% 20/03/2021 00:00 20/03/2021 05:30 6 hours OP 0.031174 CP 0.031295 +0.388% 18/03/2021 18:00 19/03/2021 03:30 10 hours OP 0.030665 CP 0.03087 +0.669% 17/03/2021 07:30 17/03/2021 18:00 11 hours OP 0.031816 CP 0.032216 +1.26%
Education
by CleoFinance
4