shooting stareyou have a shooting stare at 12pm then a farcical and now at 14:00 the heiken Ahkin is started to show change in trend.
Shooting Star
HKEX:1368 Potential profit 28%HKEX:1368 confirmed a bottom at 3.84, which is a great support line for more than a year. Today, it has broken the fractal on 2 Jul, which is also a shooting star candle stick. The first target or resistance would be 5.28. If it can be broken, the second would be the top of the gap which 28 Mar made.
Cut loss @4.3
Target @6.31
Buy in @Current price
BTC 1 hr (signs of a dip were clear) 8/6/2019Looking at the hourly to see if the dip was predictable and the writing was on the wall with this dip. We had a shooting star followed by 2 inverted hammers. All bearish when at the top of an uptrend like the one we were in. If you can see things like this before the dip (I missed them til just now but my stop loss saved me) You can understand that a dip was likely in the cards after the 3 bearish candles. This is why switching between time frames is important.
Bitcoin Price Action Update (day 351)Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
Sawcruhteez Strategies: Comprehensive Trading Strategy - Consensio | Comprehensive Trading Process | How to BUY THE DIP | Advanced Dollar Cost Averaging Methods
Consensio: Fully Bullish
Patterns: Start of a 4h bear channel
Horizontals: R: $11,636 | S: $11,341
Trendline: Parallel Channel
Parabolic SAR: In a recent podcast Tyler and I analyzed the way that Trading View is calculating the SAR. We have referred to original Welles Wilder documentation and determined that Trading View is not calculating it correctly based on the original formula. Therefore I am using the original calculation which puts the Weekly SAR at $13,880 instead of $10,452 which is where Trading View puts it.To learn more about the Parabolic SAR calculation click here and stay tuned for our solution. We plan to provide an alternative script and make it available for free on TV within the next week.
Futures Curve: Contango with 3.96% spread
Funding Rates: Longs pay shorts 0.0259%
BTCUSDSHORTS: I am no longer going to track the BTCUSDSHORT ticker which gathers data from Bitfinex. That is due to the ability to claim a position on that exchange opposed to closing. This has huge effects on how the long:short ratio is calculated. So much so that I no longer think it is a good metric to track. Click here to learn more about claiming vs closing and how it affects long:short date.
TD’ Sequential: Just got a weekly combo 13 and aggressive 13. Weekly A13 called the bottom.
Ichimoku Cloud: Weekly wicked off the top of the cloud perfectly.
Daily bearish TK cross above the cloud. 4h no trade zone.
Relative Strength Index:
Average Directional Index: Weekly is testing major resistance which indicates an exhausted trend.
Daily rolled over, if it can roll back up > 20 then it would be a strong sign of continuation. Until then it is a strong indicator of continued consolidation / correction.
Price Action: 24h: +2.32% | 2w: +6.28% | 1m: +50.33%
Bollinger Bands: Testing daily MA
Stochastic Oscillator: First weekly sell signal since December 2017
Summary: The most important technical to me right now is the weekly high volume shooting star that we got last Sunday. Shooting star and dragonfly dojis are generally my single most important indicator or a short - medium term reversal. That is especially true when on high volume.
Last week’s bearish wick and above average selling volume are the main reasons why I am expecting a major correction over the following weeks - months.
That being said right now is the time to pay very close attention. If we can breakthrough the top of the bear channel and then get back above $12,000 then all signs would be a go for continuation.
I am not expecting that but I am preparing for it. I have a strong bearish bias due to the high volume shooting star and therefore I have been selling spot and opening shorts over the past week. If the current market structure breaks to the upside then it is essential I am prepared to close shorts and reopen longs. Again I do not expect that but I do want to prepare for it.
As it stands I am confident that we will get another leg down to retest four figures and I have been positioning myself accordingly. That being said I am diligently preparing for alternative outcomes.
Strong opinions loosely held
HKEX:3306, potential profit 22%HKEX:3306 is in a forth wave of a impulse, which is a classic triangles correction with the volume decrease at the end. The direction should be cleared soon and we expected the direct will go up because recently it can stand with volume above the shooting star (red line). For the target of this trade, as we are not sure if it is the third wave or the final wave of the impulse, we set the target from both Fib Extension from the third and the fifth wave. Coincidentally, the 3.618 of the third wave and the 1.618 of the fifth wave are nearly overlapped.
Cut loss @14.58
Target @19.42
Buy in @current price
Confluence of factorsNice signal from price action
# Support become resistance
# Inverted hammer pinning resistance and moving average
# Stop above the high of the hammer and targeting support seen on D1
Enter at market price @ 1.69423 with
# SL @ 1.70008
# TP @ 1.64202
To learn the dynamics behind the analysis, please join my mailing list using the link below zc.vg
As usual don't bet the farm. Good risk management won't kill you but the lack thereof could!
EURAUD - 100pip Short?EURAUD has been moving in an interesting manner of late.
If you noticed on the 4 hour, a consolidation around 1.63500 to 1.6300 - with a spike up to 1.6450 and falling back into the 1.6300 - 1.6350 range thus creating a head and shoulders.
Daily - We have come into Yearly highs, with a Spike up and a bearish close on the day, forming a shooting star/bearish engulfing, with the next day retracing, however we saw another spike into the highs. Market has failed to break past 1.6350 resistance and another shoting star formed. We ar looking for a break below 1.6300 to confirm the head and shouders formation.
Gold Retracement PlayLooking for a short term profit on a retracement to the trendline. Today it failed to break and close above the Aug 2013 Highs and there are signs of a retracement starting to play out since it:
1) Failed to break the resistance
2) Reversed from the daily highs forming a shooting start
Looking to hold the trade for a few days. If tomorrow (June 26th) continues going lower I'll trail a stop if not I will close the position immediately at the beginning of the day.
PS: Gold still looks bullish and there is still high momentum. Look for bullish entries after a retracement if you are planning on holding your position for longer time frames like a week. I am actually in a small position in HBD which is a 2x Canadian ETF that has a correlation to GC
CHFJPY Heavy resistanceHere we can see heavy resistance around the 110.400 region. I personally entered short positions on this after seeing the exhaustion presented to us on the H1 time frame around 7pm - 1am here in London. A much safer entrance would have been at the closure of 2am H4 candle as you may notice the shooting star formation emerging. With my riskier entry I did however manage to have a lot tighter SL of around 25 pips, take profit level 1 is set at 100 pips exactly to the next zone I spotted. Once this is hit I shall close half my lot and let the second half run to the 108.700 area. Now I am looking onto the daily closure to determine whether or not we successfully engulfed the previous day or so price action.
AAL in a downtred. TradingoppurtunityAAL built a Shooting star at the EMA (30). In the past the EMA was respected by the Price and strong candle Signals were followed by big downmoves.
Gold surge possible pullbackOn our analysis on the 14.06 we indicated that Gold had fallen slightly on the back of relatively strong retail sales and upward revisions that could potentially lessen the chances of US rate cuts. However, last night Gold spiked to multi year highs and we observed a shooting start candlestick after dovish a U.S Federal Reserve opened the door to further rate cuts. We therefore now expect a bit of a pullback towards $1360 before Gold potentially surges above $1400 in particular as the RSI is now above 80.
Is it finally time to short Bitcoin (Shooting S., Wedge, DT.)Shooting star candle on D1... We should create a lower high today and that will trigger a big drop of about 1000 points in the coming days. 5 green daily candles in a row. Not sure this looks so strong for the near term.
Forming a bearish wedge in the next 30 days or so. Short term target is bottom of the wedge. Stick to the stop loss above previous high.
Short term target is the fib level, and rising trend line of the wedge. Very high R:R on this trade.
Going by the Bitfinex chart, we've reached the exact target of the continuation triangle already (height of the triangle).
On Bitmex, it's a little sketchy, but we can almost see a bigger bearish wedge structure emerging. This also becomes much clearer if we use the H4 and see that yesterday's shooting star could be a false breakout of this. Pretty bearish if you ask me. If it breaks down tomorrow, the target would be about 8250.
Please don't forget to leave a like!
GOLD : TECHNICAL ANALYSIS BASED ON DAILY TIMEFRAME, 16-06-2019
Current view showed gold was tried to break resistance on prices 1358.08 but it pullback price and ran into resistance on prices 1340.80 . Candlestick closed with shooting star pattern which is long upper shadow that indicate price maybe start falling.
Gold futures gave up much of their earlier gains on Friday, with strength in the U.S. dollar prompting prices for the precious metal to post only a modest gain for the session, down significantly from their highest intraday level in 14 months.
Prices eased back from the session’s best levels with the dollar on track for a gain on the week, putting some pressure on dollar-denominated gold prices. The ICE U.S. Dollar Index DXY, +0.45% rose 0.6% Friday, set for a weekly rise of 1.1%.
Gold for August delivery GCQ19, +0.06% climbed 80 cents, or nearly 0.1%, to settle at $1,344.50 an ounce. Most-active contract prices settled at their highest in a week, but were still 0.1% lower than last Friday’s settlement of $1,346.10, FactSet data show. Prices had climbed to as high as $1,362.20 during Friday’s session, which was the highest intraday since April 2018.
My forecast on gold prices for next week (17 - 21 June 2019) is gold will short to next support area.
NOTE : This is just trading idea with others. Not recommended to follow as a signal. Trade as your own risk.
I Spy A Fed Guy; Two Roads Diverge...Take Less Traveled?!Terrific rally to the 0.786 Fibo; looks like a slamdown at 290 today. We all expected a rally, but this one blew us away. Now we are back in the middle; higher prices but year. Pullback seems imminent; look carefully, however, you may find at least three similar Doji's that fooled us. Cautiously shorting in anticipation of trade and Fed combo worries leading up to FOMC meet next week. No guarantees in this game.
Two roads diverge at the meeting: a rate cut will trigger massive upside explosion and race to new ATH in July. EW theory suggests we may be in a 2nd of 5th wave, if so, a 3rd-of-5th would be terrifically bullish, a final blowoff meltup to cap the final surge of the Great Bull. These Elliot Waves are always and only clear in the Retrospectometer.
FOMC Disappointment... well, you know.
Trade at your own risk; GLTA!
Example of a shooting star in btc - bearish candle be carefulHello all,
Just a heads up this is a traditionally bearish situation so make sure you are prepared for the worst as always :)
-YS
EURUSD 0.618 and shooting star combination shortDXY has already pulled back to its 0.618 and 4hr demand zone combination spot,
and here we got this 4hr reversal sign for EURUSD.
I would love to take this shooting star breakdown short!
If it makes new high before broke 1.1205, this trade will be cancelled!
Let's see how it goes yo!
Bitcoin setting up shooting star candle on the weeklyCiao Traders,
I would keep an eye on the weekly chart of BTC, it looks like a shooting star candle is forming on the weekly.
What is a shooting star candle?
The shooting star candlestick is a chart formation consisting of a candlestick with a small real body, and a large upper shadow. This pattern represents a potential reversal in an uptrend especially when followed by red candle. It is also one of the four reversal candle types in candle theory: morning, evening, doji, and shooting.
So this is not a short signal as yet but it may become in the near future, lets wait for the week close and next week candle, a pull back to moving average support can be on the way.
Daily Market Analysis - BTCThe market has continued to move in a parabolic fashion. Today, the market cap is up to $233.58B. Dominance has drifted down slightly to 59.86%. The price of Bitcoin is just under 7800.
The daily candle is forming a shooting star pattern, which generally indicates buying pressure has exhausted and a price will begin to consolidate after a rally.
Although the uptrend is still in tact, a cooling off period would be healthier price action after breaching 8000.
The Tenkan and Kijun have both begun levelling off. This is also true for the Kumo, which further indicates potential sideways action.
The OBV has flucutated downwards on the smaller timeframes conveying the volume is lessening over time.
All in all, the price looks as if it may come back down to re-test support between 7300 - 7700.
However, if the daily candle is able to close above 8000, the case would be more bullish and 8200 would be the next price point to keep an eye on.
Price could drop even more after price rejection todayIt looks like the WTI could drop even more since the prices were rejected today, forming a bearish candle.
US30 - SHORT(shooting Star(Bearish pin bar))Entry was at 50% if it comes again you can reenter
this is a swing trade on the daily time frame
3 seperate tps you may secure partials at each level
or 3 separate positions 3 tps
this is a trade idea take at your own risk.
Short Then Long AUDCHFD1: Uptrend (orange lines all refer to D1)
4H: Uptrend (blue lines all refer to 4H)
As you can see we already have hit our tested Resistance level
Which is also a whole number level (red dotted line)
So from here we have a sell opportunity
On lower timeframes you can see a lot of dojis/shooting stars etc...
So we sell (counter-trending) and set our T/P in between 50 & 61.80% Fib level (also a trendline level)
S/L above 0.72000 by pips
After hitting our T/P at the trendline level
We wait for a buy signal and go with the trend
APPLE S-T ShortApple rejected gap with a bearish shooting star. That's short-term bearish. If further confirmed today, we could observe an evening star pattern. Close >202.25 neutralizes short view, and resumes the broader bull trend.
