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Hammer

EURUSD strong by signal based on GAP and psychological levelI can see here strong rejection after attempt to reach 1.0500 level. Monthly candles showing nice pattern for the third time( Bullish engulfing) and closed above support mentioned above. I see also two important formations : 1. GAP from daily chart(different broker) is respected almost perfectly with pin candle 2. Shadow of the candle reached Fibonacci level 38.2% the safe target for me is 1.0800 area, when probably price reach 200 EMA on daily chart. I would suspect that next wave will reach 1.1000 area in long term.
Long
by Krystiannwk
USDCHF short after weekly candle close below psych lev. 1.00000Daily chart is showing big bearish candle after pin candle closed below psychological level. There are two support areas on the chart. These are based on the GAP between daily candles on chart provided by my broker my broker. I placed the stop loss just above the daily bearish candle. I calculated TP based on Fibonacci ratios. I'm also bullish for EURUSD pair which is in negative correlation with USDCHF. I think that if I'm correct any attempt to go beyond 1.000 will be stopped by 200 MMA on 4h chart.
Short
by Krystiannwk
EURUSD produced Bearish Hammer on FED Chair Yellen Remarks EUR was correcting higher since the start of 2017 but pair could not clear 1.0810. Rejected from Support turned resistance, Highlighted in black this area remained support for EUR rally in 2016 when EUR was opted as Safe Heaven currency by traders. Once US Elections past, Dollar bulls are back and would love to pair US dollar against relatively weaker currencies like Euro and Yen. We have fundamentals and technicals aligned here as EUR/USD has produced bearish hammer as result of FED Chair Yellen remarks yesterday. Traders can take short positions as risk/reward parameters look attractive. Next supp is @1.0493. We are already short on Euro against GBP . Those who don't have Euro exposure in existing trades may open short.
Short
by ashfaq.hussain.duggal
Gold StallsGold stalled today and ended the day just above the BB Midpoint. Today's hammer is a bullish candlestick so while price is still under the 6 and 8 day MAs and the stoch RSI is moving down, I want to see confirmation on Monday as to the direction of Gold's next move. Also note that the hammer shows rejection of the range below as shown on this chart: This is also not very bearish. Due to these mixed signals, and the fact that today was contract rollover for Gold Futures, I closed my positions, banking a nice 18 point per contract profit.
COMEX:GCG2017
by GoldBands
Selling Position - GBPUSDA hammer candle has formed on the Orange trend line (Resistance) which is big indication for it to go down but keep note that Teresa May will be talking about brexit on a Tuesday which will cause this pair to be volatile in either position but for Monday, I can clearly see it go all the way to the purple trend line (Support) if the resistance line does not get breached. * Potential for it to go up is possible but due it to it being tested twice and causing it to drop has given me the conclusion for a short
Short
by Jamal92
1
AUDUSD - good signals to think at the end of the correctionI think the price correction is completed. In the H4 time frame we have three reversal patterns, an inverted hammer, an engulfing and a doji. Furthermore, first two reversal signals shape a tweezers top. Thus, we have different reversal signals that can give us short opportunities that could push the price near 123,6% Fibo retracement or in 0,71437 price level. This price level is 23,6% retracement level calculated on daily chart on high at 0,81625 and low at 0,68290. This level is important because is a good support, between 24/05/2016 and 30/05/2016 price action shaped tweezer bottom with a beautiful hammer. Furthermore the lower hammer shadow touched a long trend line (you can see that on daily chart). So, if the price action will go down, we had two good TP levels with a SL that could be placed above 0.74211 (23,6% retracement level on H4). If the price goes up, we will wait for the end of the correction, in this scenario the explanations writed above will be valid. I hope I've done a good analisys. Please write me suggestions or your opinion, I'll appreciate that. Thanks.
Short
by michele_laino
SPX500 : Great Risk Reward ratio for a long positionThe S&P500 is following a bullish trend since many months, which is materialized by ascending top and bottoms, plus an ascending trendline support. Recently, the index is consolidating between 2120 and 2189 (ATH). Now, it has made a bounce at 2120 support. The hammer candle shows the domination of buyers at this price on the US stock market, probably for at least three reasons : - Presence of an horizontal support , previously resistance (polarity principle) - Presence of the ascending trendline support - Match with the 38.2% fibonnaci retracement of the last bullish wave (1998-2189). Strategy : Open long position at the current price (2132 points) Stop @ 2110 Target @ 2160 (to make sure you will be executed if the scenario is realized)
TVC:SPXLong
by AlexandreNygal
AUDUSD - Confirmed head and shoulders, further support aheadAUDUSD sold off aggressively again Tuesday, ignoring a hammer reversal candle from Monday. Pair breached the ascending neckline, confirming a head and shoulders topping pattern. Rising channel support lies just ahead ... but bears will be selling into any bounces into the former zone 7480 - 7435, looking to breach channel support above 7420. Even if bulls manage to break back above there, pair is likely to face fierce selling interest around and above 76. Only a close above 7672/breach of the September highs would invalidate our long term bearish bias.
Short
by MFXSCharts
Cup & Handle Bullish Medium TermWe can see the reliable bullish chart pattern of the Teacup Saucer Bottom (aka Cup & Handle) provides a strong bias to the upside. The similar hammer candles indicate continuation to the upside, post retracement. A break above the saucer high with a confirming close above this price level for a few days, would demonstrate the probability of a move to test the 143.23 July 15 high (the beginning of the pre-saucer consolidation pattern). Stay tuned. Always feel free to leave me a comment. I love critique, as it challenges my bias and pre-conceptions; go ahead, make me uncomfortable. Then we can all benefit!:)
Long
by chris333
1
Bulls are pressing the shares of FBIZ to go upRecently First Business Financial Services, Inc. FBIZ has lost almost 18% of its shares value with the price crossing down 20, 50, 100 and 200 moving averages. On the other hand the stock is exposed to a strong buying pressure. The view might be supported by a growing volume and candle pattern analysis. The long lower wick which finished yesterday’s trading day imply the growing bullish sentiment and the validity of the support area which was hit more than 10 times during two years. We would consider the current opportunity as strong bullish signal and project the price go up $25 For more ideas visit mercuriusam.wordpress.com
NASDAQ:FBIZLong
by AleksandrLombrozo