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Candlestick Analysis

Candlestick analysis focuses on individual candles, pairs or at most triplets, to read signs on where the market is going. The underlying assumption is that all known information is already reflected in the price. The technique is usually combined with support & resistance. Each candle contains information about 4 prices: the high, the low, the open and the close. A candle body reflects the net price movement between open and close while the wicks show reversals that occurred within the timeframe of the candle.

Each candlestick, therefore, provides an easy-to-decipher picture of the price action. The length of the wicks versus the length of the body in combination with whether a candle is bullish or bearish, can be used to determine a signal for the price action to come. Common candlesticks that are used in this analysis are dojis, spinning tops, hammers, engulfing candles, pinbars and inside bars.
Blasterh22 Blasterh22 AUDUSD, 1D, Long ,
AUDUSD: Strong buys at support.
47 0 2
Strong buys at support.

This might be the end of the corrective structure. Although short term momentum is still down we can see a strong engulfing pattern at the weekly level. I will try to get a better entry at the 50% retracement of the engulfing candle.

Path Path PRO BTCUSD, W,
BTCUSD: Cursed chart (BTCUSD)
27393 47 168
Cursed chart (BTCUSD)

I don't think it makes sense to use normal TA on Bitcoin because it cannot be compared to any asset... except itself, so I've overlayed the early 2013 bubble (daily candles) on the current run (weekly). We'll peak on CME futures and then an exchange CEO will get kidnapped or something. I don't know. Nobody does. Good luck. Still long as of my last linked trade:

Roker1 Roker1 TOP AUDJPY, 240, Short ,
AUDJPY: Short opportunity on AUDJPY
207 3 5
AUDJPY, 240 Short
Short opportunity on AUDJPY

Hi guys, i've been looking at this pair for a long time now. First, i've missed an opportunity to go long at the 82.00 level. Then, i saw price climbing up toward what would've been our potential target for a big pattern that was completed on the higher timeframe, namely the daily tf. Now, price has touched the 38.2 level of the bigger leg and has shown some ...

Blasterh22 Blasterh22 EURGBP, 1D, Long ,
EURGBP: Pin bar reversal
81 2 1
Pin bar reversal

Price reacting of the weekly level. I placed a limit order on the 50% retracement area of the the pin bar. Expecting the price to go to 0.89 area where I will be looking for a short signal.

alan3cA alan3cA PRO USDCAD, D, Long ,
USDCAD: USDCAD  Buy at 1.2835 and 1.2813 (stop 1.2783), Thursday
16 0 1
USDCAD Buy at 1.2835 and 1.2813 (stop 1.2783), Thursday

In line with yesterday's, and this week's, bullish bias demand for USDCAD continues. A 3rd up day in a row took the currency pair to the most bullish levels traded for 10 weeks. Signals for sentiment remain at overbought extremes but with the market hugging the upper band of a rising Keltner channel, we look for profit taking to remain temporary. So, this ...

pwmosquito pwmosquito ETHBTC, D, Long ,
200 1 3

All indicators turned bullish one after another: - TK crossover: 20th of Dec - Kumo twist, price breaking into kumo: 25th of Dec - Kumo breakout: 29th of Dec - Chikou Span above price and cloud: 6th of Jan 6th of Jan marked a great long entry with all signs bullish. Price was 0.05874 then and currently it is 0.10946.

SilverTrader925 SilverTrader925 PRO FB, D, Short ,
FB: Facebook Potential Short
78 0 3
FB, D Short
Facebook Potential Short

Ok there seems to be a lot happening to back up a short. RSI Divergence Reversal candle Falling volume Previous support acting as resistance pushing down on price This setup has occurred several times in the past and every time it falls around 15% this would take us to the major trend line and 78.6% fibs. All in all this is looking like a good setup, wait for ...

Blasterh22 Blasterh22 XAUUSD, 1D, Long ,
XAUUSD: A breakout from the corrective structure.
31 0 0
A breakout from the corrective structure.

Price is moving in a channel. The corrective structure which looks more like a wedge has finally broke, forming an inside bar formation after the break. I placed my buy stop order at the top and the SL at the 50% retracement of the mother bar. I expect the price to move to 1370 area.

Blasterh22 Blasterh22 USDCAD, 1D, Long ,
USDCAD: Weekly level + channel support
11 0 0
Weekly level + channel support

Weekly level breakout, corrective move, pin bar reversal.

Blasterh22 Blasterh22 GBPCHF, 1D, Short ,
GBPCHF: Engulfing pattern at weekly level.
12 0 0
GBPCHF, 1D Short
Engulfing pattern at weekly level.

This might be a sign of a correction at least.

alan3cA alan3cA PRO USDCHF, D, Short ,
USDCHF: USDCHF, Thursday, Sell at .9490 and .9519 (stop .9549)
15 0 0
USDCHF, Thursday, Sell at .9490 and .9519 (stop .9549)

Tuesday’s strong move to 2 month highs was aggressively reversed yesterday. Selling pressure was the dominant feature throughout but post FOMC price action saw the decline strongly deepen . This move took USDCHF back to the key 13 day mvg avg – though that point was unbroken on a closing basis but although Asia has not maintained its lows our signals for sentiment ...

Blasterh22 Blasterh22 AUDCAD, 1D, Long ,
AUDCAD: Weekly level still holding.
8 0 0
Weekly level still holding.

Corrective structure. Channel. Support. Pin bar reversal. Uptrend.

Blasterh22 Blasterh22 EURJPY, 1D, Short ,
EURJPY: Congestion area
11 0 0
EURJPY, 1D Short
Congestion area

A false break above the congestion area and then below which is now acting as resistance. Trying to get a better entry at the 50% pin bar retracement. In confluence with weekly level and EMA's.

Blasterh22 Blasterh22 GBPAUD, 1D, Long ,
GBPAUD: Weekly level breakout
16 0 0
Weekly level breakout

Inside bar formation below the weekly level, a break above might open path to 1.88 area.

Blasterh22 Blasterh22 GBPNZD, 1D, Long ,
GBPNZD: Weekly breakout
15 0 0
Weekly breakout

Inside bar formation after the brake of the weekly level. I placed my stop at 50% retracement of the mother bar. I will also trail it after the ongoing candle, if it will be strong enough.

Blasterh22 Blasterh22 EURCAD, 1D, Short ,
EURCAD: Weekly level still holding
20 0 0
EURCAD, 1D Short
Weekly level still holding

Engulfing pattern formed bellow the weekly level. I placed my limit order at the 50% retracement of the engulfing candle. A lot of profit margin. Counter trend.

alan3cA alan3cA PRO USDCHF, D, Long ,
USDCHF: USDCHF - Buy at .9545 and .9526 (stop .9494)
9 0 0
USDCHF - Buy at .9545 and .9526 (stop .9494)

Contrary to yesterday's call, 2 days of indecisive price action was followed by a renewal of investor buying interest. The most positive prices for 8 week were posted as the resulting demand took the currency pair towards a test of a 50% correction of the Dec-Feb decline. Overbought extremes are an increasing concern but despite a decline in Asia this morning’s ...

Blasterh22 Blasterh22 XAUUSD, 1D, Long ,
XAUUSD: Pin bar reversal
23 0 0
Pin bar reversal

Price reacting from the weekly level. I placed my entry at 50% retracement of the pin bar which is also the weekly open. Expecting a move to 1330 area.

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