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Engulfing Candle

AMC: What if it reverses? Some scenarios to work with!Hello traders and investors! Let’s study AMC again! Since our last analysis, AMC hit our target at $ 9.93, and it almost triggered the Harami pattern we discussed, which could’ve worked as a great reversal pattern. I do weekly public analyses about AMC, and the link to my last analysis is below this post, as always. Let’s see how it is doing now. Ok, it didn’t give us a buy in our last analysis, but AMC did a nice buy sign when it did the Bullish Engulfing evidenced in the chart. Good candlestick pattern, with nice volume, but it still not enough to impress me. Now it seems it found a support level at the black line again. If MC loses this black line, probably it’ll retest the Bullish Engulfing’s low again, and if it loses it, then it’ll seek lower supports, seen only in the daily chart . But before we talk about the daily chart, it is important to notice that AMC has a pivot point at the red line ($11.52), and if AMC breaks it, the $ 14.50 is the first target to work with, and probably the Breakaway Gap will help the price to hit there. Remember: Gaps work as magnets. Now, the daily chart: AMC did another Bullish Engulfing in the daily chart as well, closing above the 21 ema, but this pattern appeared in the middle of nowhere. If this pattern appeared near a support level, I would be much happier. The problem is, if AMC loses the engulfing’s low (both, 1h and 1d charts are the same), the next target will be the $ 5.22 . But if it triggers the pivot in the 1h chart, the $ 14.50 is the first target, but AMC could seek the $ 20.36 as well, depending on the strength of the movement. Although AMC didn’t trigger any buy for us (not one that I find good enough, at least), I agree that the R/R ratio is good, and AMC could fly again. But it is too soon to buy it. And we’ll keep AMC on our radar! If you liked this idea, remember to follow me to keep in touch with my free analysis, and if it helped you, remember to support it with your like! Thank you vey much!
NYSE:AMC
by Nathan_The_Finance_Hydra
10
[LONG] The Power of the Bullish Engulfing Candle on the DailyAs you can see, daily candles are a solid indicator of price movements and market sentiment. In each of these instances, bears were able to push the price down to form either a double bottom or golden-zone retrace on the fibs. From here, buyers stepped into the market and made a statement of intent with massive buying pressure – as indicated in these daily bullish engulfing candles. These candles can be used to signify a change in the trend direction and signal to other traders that there is strength in the market. The most recent daily bullish engulfing candle on 26th March painted a bullish marubozu, meaning price closed on that candle at the highest point of the day. This is an even stronger signal to traders that bulls have reclaimed control of the trend in the short-mid term. This, coupled with the daily hidden bullish divergence on BTC/USD, has me thinking we will see a $70K Bitcoin in the not-so-distant future. DYOR – not financial advice.
BITSTAMP:BTCUSDLong
by conorg93
GE: Some patterns you should be aware of!Hello traders and investors! Let’s talk about GE again! As we discussed in our last study, GE reacted quickly and denied the bearish pattern seen in the hourly chart of an Island Reversal , and it filled its gap. As usual, we have some congestion now, but only after it stressed the 21 ema in the daily chart. Also, if you missed my previous analysis on GE, the link to it is below this post, as usual. Now, in the daily chart, we have an idea of a H&S chart pattern, but it wasn’t triggered yet. In fact, if GE denies this pattern and defeats the last “shoulder” by trading above its high, probably we’ll see a continuation of the bullish momentum. Today, we had a classic Bullish Engulfing candlestick pattern, which has a good chance of working as a reversal in the next few days. Now, to the weekly chart: It is natural to see some exhaustion signs, after all, GE just hit an important resistance level at the green line (the high before the Covid’s crash), and it is far from the 21 ema. We had a Bearish Engulfing 2 weeks ago, which wasn’t triggered as well, so, GE is just moving sideways, and this is a nice sign, as crazy as this sounds . When a stock goes up too fast, it must rest a little bit, but when the stock rests while moving sideways, it means the buy force is still present, then we have a sideways correction – or as I like to call, Time Correction . So, let’s not be frustrated or surprised if GE keeps trading sideways until the 21 ema hits the price. Meanwhile, let’s keep studying it, and if you liked this analysis, remember to follow me to keep in touch with my daily studies, and support this idea with your like if you’ve read this far! Thank you!
NYSE:GE
by Nathan_The_Finance_Hydra
US10 Y - TREND REVERSAL IN PROGRESS...D1 : Recent price action is showing a trend reversal in progress. Indeed, last Friday a "doji" (uncertainty and indecision) took place which has been followed yesterday by a bearish engulfing pattern ! Today's ongoing price action continue to move to the downside. Watch carefully the Tenkan-Sen or Conversion Line, currently @ 1.6140 as the first important support and last but not least, at the MID BOLLINGER BAND, "T H E L E A D I N G I N D I C A T O R", currently @ 1.5620 as a pivot level for the ongoing session (s) If you find my analysis valuable for your trading, please do not forget to like and follow me Have a nice trading day All the best Ironman8848
TVC:US10Y
by Ironman8848
2
ZOM: Key Points we must keep in mind for the short/mid-term!Hello traders and investors! Let’s talk about ZOM today! It’s been a while since my last analysis, so we have some points to update. And if you missed my last public analysis, the link to it is below, as usual. First, ZOM reversed the short-term bull trend that we discussed in our last study, shortly after a breakout of a key point at $ 2.34. Now the trend is bearish , as we have lower highs/lows, and the 21 ema is pointing down. Today, it lost the support level around the $ 1.94 (red line) by doing a gap. If this gap is going to be filled in the next two days, it could be an Exhaustion Gap , and work as a reversal pattern for ZOM. Now, let’s see the daily chart: In the daily chart the situation is not as horrible as it looks like in the 1h chart, as ZOM is clearly still inside a congestion . As it is normal in congestions, the price could seek its base and the situation would still be under control. Meaning, ZOM could hit the $ 1.48 again, and this would be a buy opportunity. Another point worth of noticing is the low volume , which indicates that this is not a real sell-off. If it were, the volume would be higher. ZOM did a false breakout from the $ 2.25, which was the key point we discussed in our last analysis, as it closed above it, then in the next day it did a classic bearish engulfing , which pushed the prices down. Now, ZOM needs another clear pattern to reverse the bearish bias, and make it retest the $ 2.90 again. A ny good reaction, with good volume will do. I like the fact that the bullish candlesticks have higher volume than the black candlesticks, on average, in the last few days. This could indicate a possible rally next; we only need some confirmation. And remember to follow me to keep in touch with my daily studies and updates on stocks, and if you liked this idea, remember to support it with your like! Thank you very much!
AMEX:ZOM
by Nathan_The_Finance_Hydra
4
Waiting for a SELL on CADCHFI think CADCHF on the 4hr timeframe is going bearish for a while. And my confluences are: *Double tops reversal pattern (bearish signal) *Rested of the neckline(healthy chart pattern). *Normal divergence (change of trend signal); you can check out the divergence yourself. And the last confluence would be the entry reason; A bearish engulfing candle( bearish signal). Stop loss is 1ATR above the high of the engulfing candle Take profit is the next structure. Feel free to criticize my analysis, we are all learners. 'Do not blindly buy CADCHF based on my confluences and do not enter the trade if my analysis is against yours.'
Short
by T-B-X
BTCUSD - D1 - DOUBLE TOP IN PROGRESS...D1 : After having reached the triangle formation target of 58058 and making an intraday high yesterday @ 58155 profit taking pushed down the BTC towards a low so far of 56632. Looking at the global picture in D1, we can see a potential double top formation in progress (58354 & 58155). Usually, the second top should be higher than the first one but some tolerance could be accepted. Therefore, I would strongly suggest to watch very carefully the ongoing price action during the day. Indeed, a failure to stay and close above the first significant support of 55918 (middle level of yesterday long white bullish candle) should be seen as the first signal of a potential trend reversal as such kind of price action would trigger a BEARISH ENGULFING PATTERN. Moreover, technical indicators are not for the time being, showing great support and conviction, for a continuation move on the upside. Watch carefully ongoing price action in the coming hours, on shorter time frames, H4, H1 and M15 to get early signals of validation or invalidation of this potential trend reversal formation. On the other hand, a new high closing above 58354 (Feb 21st) would invalidate for the time being the above potential bearish scenario in opening the door for higher level towards 61075 (Fib proj 50%) ahead of 65575 (Fib proj 61.8%) Have a nice trading day and have fun All the best Take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
4
PLTR: Complete Analysis (Hourly/Daily/Weekly charts).Hello traders and investors! Let’s see how PLTR is doing today, and do a complete Multi Time Frame Analysis (MTFA) by looking at the hourly, daily and weekly charts! This stock dropped sharply in the past few weeks, but right now it is doing something interesting. For the first time, it is breaking the bearish bias seen since it started its fall around the green line ($ 37.95), as we see higher highs/higher lows. This movment is natural, and not surprising at all, as we already discussed in my previous analysis, last week ( link below). What’s more, the 21 ema is pointing up, and the price is above it. We can assume it’ll reverse the bearish sentiment seen in the daily chart as well. The bias is still bearish in the daily chart, but if the 1h chart persists in its bullish sentiment, then the trend will eventually reverse in the daily chart too. What are the main challenges PLTR has right now? First, the 21 ema, which might offer resistance today or tomorrow. Second, the volume is still quite low, so, looking at the daily chart some people might not be entirely convinced by it. Aside from that, if PLTR keeps trading at this level until the end of this Friday, the weekly chart could be very interesting: At any moment the bears could make PLTR trade under the 21 ema and the 61.8% Fibonacci’s Retracement , and this is interesting. Clearly, this combination makes a very strong support level. In fact, PLTR did a very powerful Hammer candlestick pattern last week, with a nice shadow under the candlestick’s body, a good thing when we talk about Hammers. And this week we have a Bullish Engulfing (so far), making the situation quite bullish. Now, the 50% retracement may work as a support, but I believe the 38.2% level is more interesting, as it is exactly at the same price level where it would fill a gap. If you liked this analysis, remember to follow me to keep in touch with my daily analyses, and please, support this idea with your like! Thank you very much!
P
by Nathan_The_Finance_Hydra
12
Nice Trade Setup on AFG - 3:1 Risk RewardSetup pretty much speaks for itself but the trade idea is from a technical standing- price has come back into an area of value (Trendline Support) and we have an entry signal from today's daily close printing a bullish engulfing candle, for me this is a valid place to go long at the next session open. This setup provides us with a 3:1 risk reward ratio which makes it an attractive place to go long in my opinion. My trade plan for this one will be to go long on the next candle open, with a take partial profit at 2.80 (into minor resistance) at which point I will then move my stop loss to breakeven and aim for the next take profit level at 3.10. Not meant to be financial advice, do your own research, just my opinion of a good trade setup.
ASX:AFGLong
by Ravi2409
BTC - H1 - TRIPLE TOP !H1 : Recent price action triggered a triple top formation coupled with bearish divergences !!! Bearish engulfing pattern, confirmed by another long black candle pushed BTC down, breaking on its way the former uptrend support line in moving down below Tenkan-Sen, Kijun-Sen and Mid Bollinger Band. Next short term support is now @ 52650 former peak of March 3rd ahead of the clouds support area which iscurrently very thin = FRAGILITY !!! Interesting to note that the 38.2 % Fib ret is @ 52200, in the middle of the clouds area ! Watch also carefully M15 to detect early signal (s)
BITSTAMP:BTCUSD
by Ironman8848
1
BTC - H4 - TENKAN-SEN UNDER ATTACK !H4 : After the strong triangle breakout and as expected BTC lost momentum and last candle triggered a bearish engulfing pattern. For the time being, the first support (Tenkan-Sen) hold; nevertheless, technical indicators are switching from the sideways to the downside which may be the first signal (s) of a short term trend reversal. A failure to hold above TS @ 53554 would put the focus on MBB @ 51992 (roughly the level of the triangle breakout, such kind of correction would complete the expected pullback and if occurs, it should be seen as the REAL TEST of a successful upside breakout. Indeed, it is crucial, in order, to maintain the bullish tone, to stay and hold above 51500 (Kijun-Sen) as a failure to do it would invalidate the triangle pattern and reopen the door for lower levels. Watch shorter time frames H1 and M15 to get intermediate signal (s) which will allow you to act accordingly. Have a nice trading day. All the best Have fun and take care.
BITSTAMP:BTCUSD
by Ironman8848
1
MSFT: We all must be aware of these KEY POINTS!Hello traders and investors! Let’s talk about MSFT today! The volatility increased a lot recently, so, let’s see the daily chart first, followed by the weekly chart. Yes, MSFT is doing a correction right now, which is fine, considering it performed very well a few weeks ago. In fact, MSFT did a Bearish Engulfing , just after it retested the 21 ema, and this made it drop to its support levels. The first support level is the black line at $ 227, which was a previous resistance, and now it is working as a support, an expected movement according to the Principle of Polarity . The other support is the purple trendline, which was a previous resistance for this huge Symmetrical Triangle pattern. Keep this Triangle in mind, we have more to say about it. Meanwhile, the volume increased, along with the volatility, meaning that this is not an easy time for MSFT, and if it loses these support levels, it could easily retest the lower purple trendline . Therefore, we must see a reaction quickly. Now, then weekly chart: The Triangle chart pattern seen in the daily chart is a Pennant pattern in the weekly chart, and both reinforces a long-term bullish bias on MSFT. Now, all we can assume is that the stock is doing a correction in the weekly chart, after a breakout of this Pennant, which makes sense. Since this Pennant is a Symmetrical Triangle in the daily chart, and this pattern has a pullback rate of 65% after a breakout, this movement makes statistical sense. What’s more interesting is that it just hit the 21 ema , which is another support level for MSFT. The volume is quite high, and the situation is still dangerous, but if we see any bullish reaction around, the bearish sentiment seen in the last few days could come to an end. We don’t have a buy signal, but this is definitely not a bear market yet (no lower highs/lows) . Right now, is time to wait and manage positions. If you want to keep in touch with my daily analyses, remember to follow me . And since you are still here, please, support this idea . Probably you found it interesting, or you wouldn’t still be reading this. Thank you very much, have a nice weekend!
NASDAQ:MSFT
by Nathan_The_Finance_Hydra
4
BTCUSD- W1 - MIRROR EFFECTW1 : Global picture is showing a "mirror effect" in progress. Last week price action triggered a long black candle (bearish engulfing pattern) which filled the 23.6 % Fibonacci retracement @ 45491 (3850-58354) and reached an intra-week low of 43021 ! After this sharp downside, it was more than likely to see some recovery which took place in pushing up the BTC towards a high, so far of 46875, which globally should still be seen as an "healthy" corrective move in a still a broad bear trend ! In order to neutralise this ongoing bearish price action, in W1 , we need to see a move which should break, at least the level of 51362, which is the middle of the bearish engulfing pattern). Watch D1 for clues Have a nice week
BITSTAMP:BTCUSD
by Ironman8848
3
Ultimate Candlestick Cheat Sheet For CryptoHello, traders! Here is the cheat sheet for the candlestick patterns. They are divided into five groups: -Bullish Reversal -Bullish Trend Continuation -Bearish Reversal -Bearish Trend Continuation -Neutral All these common formations you can see on the chart but first of all you should understand what has happened on the market. When you are looking at the candle a lot of useful information can be received. For example if the candle have the long wick to the downside and short body (hammer), it means a huge bullish pressure and this is a reversal to the uptrend sign. When you have three stars in the South formation it is can be noticed that the wicks to the downside are long and bodies became shorter. It means the weakness of the downtrend and also the sign of the potential reverse. If the candle have a very small body (doji) this indicates that the market is in indefinite situation. Bulls and bears war did not lead to price changes and future price direction is unknown. Do you use the candlestick patterns? Please write your comment and give us a support with like if you like such cheat sheets! DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
Education
by Skyrexio
11