EURUSD LONG IDEA ON H4 TIMEFRAMEHello dear traders.
AB=CD pattern is formed on EURUSD on H4 timeframe.
its at the bottom of a descending channel.
moreover a pinbar candlestick is formed.
wish you luck.
Hammer
USDCHF TREND TRADE ON H4Hello dear traders.
How about simplifying our trading a little for today?
we are currently at the correction of an uptrend which retraced itself down to 61.8% fibo level and surprisingly it concides with a great hammer.not to mention that another hammer is formed in H1 timeframe as well.
you can enter into long position if the hammer will be confirmed.if so,you will enter into a 2-1 R-R position which seems so ideal to me.
thanks for your visit.
#EURAUD Long situation...Price making a nice squeeze which means that price will go for another push to fake-out all people who are currently shorting FX:EURAUD
-We got a nice hammer and the bottom of a squeeze, and triple bottom so this just confirms my thought.
Good luck traders.
TSLA hammer time.Lovely hammer on 200 MA support 15 minute chart
also Golden cross 50 MA over 200 MA
GROW Double BottomDowntrend over last few weeks may be over as todays bullish engulfing shows signs of reversal. Watch for break of 0.35 to confirm bull break from falling wedge. Close above 0.35 would also be a hammer on the weekly chart. Good buy right now with strong support at 0.30, price target at recent tops of 0.51, potentially higher with any good news releases.
Upcoming catalysts include new contract signings, approval for use of technology on cannabis and more agro-industrial partnerships.
Adaptation on a BAT HarmonicThis is my adaptation on a Bat harmonic and where i expect it to reach. I am currently waiting for a completion of the D point which should show a reversal candle or pattern,currently there is an inverted hammer but to ensure it is a positive reversal i will wait till the close of next candle then i will enter the trade. The current Risk:Reward is acceptable as i believe that it should hit the Take Profit target one at least thus i will be aiming for target one as it is the safer option. I have set the TP below the expected level to ensure it does not fall short by a few pips. The Stop loss is slightly below the D point if/when it is completed.
Is Silver Ready for a Bounce up ??Silver FOREXCOM:XAGUSD dropped 10 straight weeks in a row, popped up slightly last week and is dropping so far this week.
Last week's higher close shows a hammer candle indicating a possible floor. The Bulls overpowered the Bears and drove the price higher for the week.
USLV , a 3x Bullish Silver ETF, is poised ready for a pop up with the RSI showing way oversold.
May be a good time to take an initial position in USLV and ride the possible increase at 3 times the rate of the actual silver price (if indeed silver climbs).
Hammer & Bullish Engulfing on SBKJSE:SBK is showing a hammer followed by a bullish engulfing. If it breaks through the fractal level from the 11th of July, a long position could be on the cards.
EUR/JPY hammer on a dynamic and static support levelAs we can see from the chart above, the cross is right on a short-term dynamic support (trendline), which has been touched with a very sharp move. Moreover, this dynamic support coincides with a static support level (around 121.22), adding confluence to the analysis. However, before entering the trade, I'm waiting for a confirmation, which I expect to appear on lower time-frames.
Nonetheless, uncertainty remains high in the markets, as Christine Lagarde takes the place of Mario Draghi as head of the ECB, because of her background as a lawyer and not as an economist, but this is not her first expirience in the field of economics. In fact, she has previously served as Managing Director and Chairman of the Internetional Monetary Fund since 2011. However, she won't take charge before November, 1st.
Therefore, if I were to open a long position on this cross, I would either close it before the 25th of July (ECB interest rates decision), or move the stop loss (more on these details in a minute) to break even; while data on inflation in the Euro zone are to be released on Wednesday (Previous: 1.2% - Forecast: 1.2%).
Moving to more technical stuff, if confirmation was to be seen, I would open a long position with a target 123.35, and a stop loss of 120.83, with a Risk/Reward of 1:5.3. But there's another level of concern a bit under the target, the resistance zone of 122.4, which should be taken into account in case of a rally.
FX Watchlist for Monday : AUD/NZD Hammer TradeTextbook Hammer Trade.
Also a successful trendline retest.
Watch out for the Red Trendline, wHich is still Resistance.
Avnet uptrend retreat - Hammer @50smaAVT has been in a consolidation pattern since July 10th, with a bull technicals behind.
Last candle today is a hammer. Showing buyer strength when price fell to $43.6.
Technical data
Price just below SMA(50)
Price just above SMA(200)
RSI @56 trending higher
OBV confirming trending higher
Directional move index turned positive
If we can continue above the SMA(50); that would confirm the trend.
** I recommend not buying until we see Monday sentiment after Trump's meeting with Xi.
Happy trading!
dorfmanmaster
Short term Bullish to $176BIDU Short term bullish to around $176 represents a possible short term trading opportunity. Looks to bounce off the trendline. Note that earnings report on May 17.
TPX could bounce Technicals
RSI(10) @62 reaching for higher highs - OBV confirming trend
ADX (directional index) on a continuing positive trend
We see a very bullish move, as a hammer candlestick is formed at the 61.8% retracement level.
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This is happening as the market as a whole is on a rally.
I would wait to see if we can break $68 (heavy resistance) on Monday.
DKS - Hammer pattern reaching supportMay 2nd: DKS reached SMA(100) support line forming a Hammer candlestick.
Technical information:
RSI(14) @39
CCI(10) @-100
Support: 32.46
Resistance: 39.4
Have a look at GNC weekly bullish set-up, as my wife said so!GNC's endless slumping is kinda hard to understand for me, and I usually get away from this kind of stocks.
A profitable healthcare/retail drug store with only 3+ P/E and a non-stop downtrend from $60 to $2.5 a share in such a bull market!?
Hard to believe, but anyone who tried to pick the bottom based on those fundamental numbers worked horribly so far.
Let's not pay too much attention on its fundamentals, let's go back to the chart!
Here we got a weekly bullish butterfly with a hammer, not a bad set-up,
and most important of all, my wife said that she has a feeling that it would be a better investment than buying the lottery!
So why not, I'll get some position here with very little risk there to put the out below 1.90.
Maybe 500 shares with $300 risk and see how it goes!
Happy wife, happy life yo!
EURCHF BUY at 4H - RSI divergence at important levelwe are looking at a possible rise of price action because of the RSI divergence at an important monthly structure level.
Buy RWCDue to oversees market the ASX should be opening higher this morning form yesterday pull back. This is why i'm looking at consumer cyclical stocks, RWC gap down yesterday to its support level and formed a bear hammer I wish it was a Bull hammer but this is fine as well. It sitting outside its 2 deviation, looking to counter trade this stock to $4.40. It also at its C wave with Elliot wave theory.
Bearish Hammer Plus Churn Doji On Week ChartI've updated my volume indicator to emphasize hammer bars. The usual pattern is:
1.) Hammer bar with wick hanging out in the middle of space. On volume indicator these are colored bright red or green.
2.) Highish volume but low range doji which indicates churning where the bulls and bears actively fight but are not able to move price very much. On volume indicator these are colored yellow.
3.) Trend bars - price typically breaks away from the wick of the hammer which was the initial rejection area. On volume indicator these are colored dark red or green.
The hammer and churn doji recently completed on the week chart for BTC so I am watching very closely for a double top on lower timeframes because I expect a big downward trend bar to appear within a month.
