Its intriguing that two candles with the exact same body and wick measurements, even with all the indicator values matching, can actually encompass price-momentum towards opposite directions. I have outlined two possible scenarios per each candle type. Note that regardless of the candle type - bull or bear, the last C wave and the main B wave of price within the...
As you can see, GBP/USD bounced off the uptrend line AND the bollinger band's bottom. I believe that we will test the middle of the bollinger band next week, which is around 1.5650 right now.
GBPNZD on the 1H chart shows the flag pattern which may continue the downside movement on the breakout of the flag. Ration is 1:1. As soon as the candle will close bellow the line, it is a signal to sell the currency
The risk-off sentiment surrounding the markets at the moment seems in favor of Nzd and Aud Nzd/Chf has a nice setup: Price is rejecting lows around 0.6260 This level is also 61.8% Fibonacci Expansion target on the 4 hour chart This level is acting as a support area and a possible target for Nzd/Chf Above the target we see a bullish engulfing candle has...
On the daily chart GBPJPY closed previous day with an indecision candle which gives us a sign on the break out of that candle to go short
Previous day AUDJPY on daily closed with bearish engulfing candle, means we are expecting the bearish movement to the 93.5 level, will go short on the break out of the previous candle on the level 94.5
Consolidated around resistance and eventually broke out. Now pulled back on lower volume to previous resistance now acting as support. Worked off its overbought condition & found additional support on the 20DMA. Buying here with a stop @ 30.00. First target is 32.58 but only looking to take half off the table at that price.
Two trades first risk reward - 1:1 second - as far as it goes until we get an engulfing opposite candle on 4h chart. stop loss - 0,81640
We have a nice Breakout at Daily Level, pullback with Hammer at Support in H4 + bullish engulfing H1 + doble bottom M15! Multi-Timeframe confirmation! Very nice Long opportunity!
We have an engulfing bearish candle on 4h chart on daily support and resistance zone. ~70% chance of going down. FIrst target to the last price action zone Keep the second trade as long as you get englufing bullish on 4h chart
This pair is preparig for a bullish move. A indecisive candle formation is showing already on the daily & 4h chart
There are a few good signs here that indicate we may see a reversal on the NZDUSD A Double Bottom has completed. Reversal Candle Fib 618 retracement fits nicely taking into account the structure. (looking at a 2618 trade) RSI will be interesting to watch - looking for oversold as we come back into the 618 Target levels are 81100 and 84000 Stop loss...
New Indicator posted, Utilizing Momentum based indicators for picking the top and bottom in a swing. UCS_TOP & BOTTOM CANDLE -
Triple Top USDJPY Candlestick Formation
USD/CAD completed a Bearish Gartley pattern recently around the AB=CD level of 1.1175. The USD/CAD had a recent high at 1.1222, but has since traded lower. Markets have been very volatile lately, so expect some erratic moves. Initial profit target is at the 38.2% Fibonacci Retracement level of the run up from A to D on the Gartley Pattern. Stop is above point...