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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.
Path Path BTCUSD, W,
BTCUSD: Cursed chart (BTCUSD)
28855 48 174
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 USDCHF, 240, Short ,
USDCHF: Reversal pattern on USDCHF
327 0 8
USDCHF, 240 Short
Reversal pattern on USDCHF

Hi guys, i've been looking at this pair often lately, and i'm still looking to sell this because i think we need to see a relief rally before eventually continuing to the upward direction. At this moment, we're testing a very strong resistance level, both weekly and daily, and we're doing so in overbough condition (heavy overbought). On a lower timeframe, such as ...

RafalZuchowicz RafalZuchowicz DAX, 1D,
DAX: DAX Doji SELL signal
63 0 1
DAX Doji SELL signal

Nice Doji candle indicating possible fall and strong down movement.

JTrader1986 JTrader1986 GBPCHF, 1D, Long ,
32 0 1

Overall trend is up... Stochastic shows oversold status... The price just bounced back from the fresh Demand Zone... Also from the turnover support level. No other choice so buy it! :) Happy growing!

Roker1 Roker1 EURUSD, 240, Long ,
EURUSD: EURUSD: different reasons to go long
366 1 6
EURUSD, 240 Long
EURUSD: different reasons to go long

Hi guys, today i want to talk about why i'm going long on this pair. Starting from our daily analysis, you all can see that price is testing a former level of resistance that now can turn into support. In addition to that, we can also see the RSI is in oversold condition and the price has created an harmonic pattern called Gartley. Going down on lower timeframes, ...

JTrader1986 JTrader1986 NZDCAD, 1W, Long ,
NZDCAD: NZD/CAD Big BUY opportunity in a few weeks...
29 0 1
NZD/CAD Big BUY opportunity in a few weeks...

Do you agree with me to set a buy stop around 0.88400 after the price crossed into the Demand Zone? TP: 0.93310. SL: 0.86070

JTrader1986 JTrader1986 EURAUD, 1D, Long ,
EURAUD: EUR/AUD Daily - 2 possible Demand Zone
18 0 1
EUR/AUD Daily - 2 possible Demand Zone

There are 2 possible outcomes in this case but smaller timeframes show a nice reversal from the trendline so I`m qiute sure that BUY STOP 1 will work this time. Let`s see in a bit! Happy trading! :)

JTrader1986 JTrader1986 XAUUSD, 1D, Short ,
85 1 4
XAUUSD, 1D Short
GOLD Short

Broken Support + Broken Trendline + Retest New Resistance = Bear run to the safe and fresh DEMAND ZONE :P :D

JTrader1986 JTrader1986 CADCHF, 1D, Short ,
20 0 1
CADCHF, 1D Short

Nothing else to say... Just enjoy the ride between the zones! :)

JTrader1986 JTrader1986 AUDCHF, 240, Short ,
30 0 0
AUDCHF, 240 Short
AUD/CHF H4 - Sell Now

Another ride right to the fresh demand...

JordanWillson JordanWillson GBPAUD, 120, Short ,
GBPAUD: Live GBP Trade!
81 2 3
GBPAUD, 120 Short
Live GBP Trade!

I have been waiting for this opportunity since yesterday morning. A pullback to the 50% fib level was achieved along with a perfect shooting star and trend line rejection on the 2hr. I will be taking this down to retest structure at 1.78500 support area with a nice R:R

ForecastCity ForecastCity KNCBTC, 1D, Long ,
KNCBTC: A good opportunity to buy in KNCBTC , Don't miss it.
61 0 6
A good opportunity to buy in KNCBTC , Don't miss it.

KyberNetwork/Bitcoin New trading suggestion: The price is in an up trend and we forecast the uptrend would continue. But there is possibility of temporary retracement to suggested support zone (0.000235 to 0.000187), if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (0.000235) ...

Jack_Boulevard Jack_Boulevard ADABTC, 240, Long ,
42 0 1
ADABTC, 240 Long

ADA has made significant gains recently as the market has started to become more bullish. Right now with BTC trying to make a decision on whether it's going above 10k or back down to retest support, ADA is sitting right on a 4 hr support level at 3612. If it can hold here and BTC continues moving sideways there may be a decent entry off support for around 10% ...

alan3cA alan3cA USDCAD, D, Long ,
USDCAD: USDCAD - Buy at 1.2845 and 1.2813 (stop 1.2782)
28 0 1
USDCAD - Buy at 1.2845 and 1.2813 (stop 1.2782)

A sequence of 4 up days ended yesterday. New 3 week highs were posted in Asia but the latter part of the day saw USDCAD consolidate in a narrow range at overbought extremes. The net result was only minor movement and this price action does not create strong signals for sentiment going into Wednesday. However, the undertone continues to be assessed as positive and ...

-Westy- -Westy- BTCUSD, 1D, Short ,
BTCUSD: BTC - Retracement Back to $6,600
478 4 5
BTCUSD, 1D Short
BTC - Retracement Back to $6,600

Price retracement based on the same 25% drop observed March 21st. I expect prices to fall in a similar pattern over 10-14 days bottoming out around $6,600 early May.

smilingllama smilingllama LTCEUR, 1D, Long ,
LTCEUR: Litecoin - Heikin Ashi, trend analysis
56 0 0
Litecoin - Heikin Ashi, trend analysis

Looking at the LTC chart with Heikin Ashi candlestick pattern, we can see the trend much clearer, and things are looking good with a strong uptrend, all green candlesticks with high wicks, which indicates the trend is currently strong. However, I don't think we are completely out of the down trend just yet, price needs to make a higher high on the daily before ...

alan3cA alan3cA GBPUSD, D, Short ,
GBPUSD: GBPUSD - Break of Key Average targets 1.4004
36 0 1
GBPUSD - Break of Key Average targets 1.4004

In line with yesterday's outlook this week's decline from 22 month highs deepened. An attempt to renew buying it from the 13 day mvg avg was limited by Wednesday’s Marabuzo line. Failure at the crucial point translated into fresh downside that accelerated in the latter part of the day. Intraday signals for sentiment are approaching oversold extremes but while this ...

alan3cA alan3cA USDCAD, D, Long ,
USDCAD: USDCAD - Bullish rally incomplete, 1.2670 targeted.
31 0 1
USDCAD - Bullish rally incomplete, 1.2670 targeted.

Yesterday's bullish forecast was confirmed. Following Tuesday’s indecisive price action at oversold extremes, a more significant profit taking rally developed. The resulting improvement, the most positive of this month, took USDCAD to test the 13/100/20 day mvg avg area. That area held despite solid net gains but while that does introduce a strong note of ...

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