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Engulfing Candle

BTCUSDT pullback to triangle trendlineThere's no reason for bullish bias. The price action shows an engulfing bearish after a pullback to triangle upper trendline, healthy 30% retrace and retest. Supports broken. Price below daily volume point of control -rejected from POC. Expecting lower lows aiming 14.6% as seen on chart. 17K is possible in a next swing downward. Plus hidden bearish sign from Chaikin Oscillator. Fibonacci retracement applied w/ 88.6% and 14.6% key levels. Bearish 2-D swing to complete the major Head and Shoulders correction @ all retracement expected.
Short
by firmestudio
6
ETH... short and long positionhello guys eth had formed a QM pattern at daily time frame and in upper time frame (weekly) showed as an engulfing candle so it so perfect for short position, on the other hand, this QM pattern is on flip area and flag on it, but if price break up this area (fl at flip) that i showed as a gray zone, make this crypto currency so bullish and i will update this analysis for long position. always do your own research. If you have any questions, you can write it in comments below, and I will answer them. And please don't forget to support this idea with your like and comment.
by melikatrader94
2
US Dollar Reversal Signals Brew, But Will the Key Uptrend Hold?The DXY Dollar Index confirmed a breakout under a near-term rising trendline from August as prices confirmed a Bearish Engulfing candlestick pattern. This might open the door to some weakness in the near-term. But, will the dominant uptrend hold? Keep a close eye on the 50- and 100-day Simple Moving Averages (SMAs). These could reinstate the dominant upside focus. Resuming the uptrend entails clearing the 78.6% Fibonacci extension at 110.9316. That exposes the 100% level at 112.643. TVC:DXY
TVC:DXY
by QM_Dubrovsky
Bollinger Bands Strategy For The DAX40 Today, I am going to speak about my new DAX 40 Bollinger Bands Strategy. I have been testing out a new strategy using the Bollinger bands, fib retracements, and fib extensions on the 4-hour chart for the DAX. I am currently forward testing this strategy and I plan to keep forward testing it until the end of the year so we can see how it fairs in the long run and if it's going to be profitable or not. I would like to share this idea with you all today. Let me explain the setup. We open up the 4-hour chart on the DAX and we open up the standard Bollinger bands. We then look for entries as soon as we see price break through the top or the bottom of the Bollinger bands. This is somewhat of a reversal strategy. I wait for the price to break either side of the bands, and then I look for the next candle to be the opposite of the candle that broke through or wicked through the bands. If the next candle engulfs the previous candle, I then use the fib retracements to find an entry. I run the fib retracements over the engulfing candle and enter on the 0.236 fib level. My stop will always be a few pips below or above the 1 fib level. I then take my trend-based fib extension tool and place the three clicks like so : First click – on the top or bottom of the Engulfing candle. Second click – The other side of the engulfing candle. Last click – simply drag the took towards the right and extend it out. I use these two fib levels for my targets. Generally, I like to see price touch the other side of the bands as my target and if the extension lines up with that, then great. I always look for a minimum risk to reward of 1 to 1.5 or 1 to 2 ( Depending on how far the extension takes us ) As you can see in the video below, so far in the month of July, this strategy generated close to 10% in profits ( risking 1% per trade) In August this strategy generated 3.5% So, so far we are doing well with it. I have done back testing with it but I prefer forward testing on a live account as this usually helps confirm the psychology for me entering and exiting this setup. So, I will keep posting videos whenever A Dax setup presents itself. Let's keep this testing going until the end of the year and then we can decide if we should try it on a funded challenge! The Vortex Trader
OANDA:DE30EURShort
by TheVortexTrader
2