All Blog Posts Tagged 'engulfing' (25)

GBP vs USD Ichimoku Outlook 3-6-15

Added by ChaosTrader63 on March 6, 2015 at 5:56pm — No Comments

GBP vs USD Bearish Engulfing Trade


Added by ChaosTrader63 on March 4, 2015 at 3:00pm — 1 Comment

Weekly Price Action Highlights | Nov. 18th - 23rd


Attempting to bottom and make some headway to the upside, the EURUSD failed to clear the 1.2800 role reversal level which was the Oct. swing lows. For now, the pair is stuck between 1.2800 weekly highs and 1.2659 lows which was the pin bar rejection on Tuesday.  So bears can look to sell any weak rallies up to 1.2800 while bulls can…


Added by 2ndSkiesForex on November 18, 2012 at 10:01pm — No Comments

Gold Forms Engulfing Bar followed by Inside Bar | Oct. 24th


Getting pummeled every which way but loose, Gold resumed its sell-off today, now at 6 week lows and barely holding above $1700.   I am noticing how the buybacks have been getting shorter and weaker in angle each time.  This would generally indicate a weakening buying or counter-trend presence.  But that has also been accompanied by weaker sell-offs each time, with the latest being the weakest.  This culminated in a …


Added by 2ndSkiesForex on October 24, 2012 at 11:35pm — No Comments

Forex Price Action - Kiwi Engulfing Bar | Sept. 26th


With the dollar gaining vs. the majors all week, the Kiwi-Dollar has been the most resistant. Today it formed a double bottom at a key role reversal level in .8187.  The 1st attempt at this level printed a pin bar which pushed prices back about 100pips.  However, the second attack (today) on the level stopped right at it. After forming a smaller pin bar rejection off of it, it then formed an outside bar and ended …


Added by 2ndSkiesForex on September 26, 2012 at 10:20pm — No Comments

Weekly Price Action Highlights | Sept. 16th-21st


Climbing for both 7 for the last 8 days and 7 of the last 8 weeks, the Euro has looked impressive being given the go-ahead from Bernanke and the German Court.  With the trend being so strong, I'm really looking for longs.  However, the price action is feeling a bit parabolic and climactic at this point.

Usually …


Added by 2ndSkiesForex on September 16, 2012 at 7:52pm — No Comments

Forex Price Action Setup - Gold/Silver Form Large Engulfing Bars | Sept. 13th

Gold & Silver

Leave it to my good ol' friend the beard - Ben Bernanke....Central Printer in Chief who today went to the printing presses.

As expected, Gold and Silver pulled right back to role-reversal levels before shooting higher on the announcement today.

In the process, they both formed with…


Added by 2ndSkiesForex on September 13, 2012 at 10:18pm — No Comments

Forex Price Action Setup - Silver Forms Engulfing Bar | Sept. 12th


After two relatively muted days, Silver has sprung to life as the metal formed a large bearish engulfing bar.  However, I would look upon it more as a 2-way bar.  

Normally bearish engulfing bars can be strong reversal signals, but following a small inside bar, and with this one closing right in the middle, its…


Added by 2ndSkiesForex on September 12, 2012 at 10:15pm — No Comments

Weekly Price Action & Ichimoku Highlights | Sept. 9-14th


Gaining for the 3rd week in a row (only 2nd time this year), the precious metal took out the $1700 barrier for the first time since March this year, gaining almost $35 on Friday alone.  I suspected short covering on the initial structural breakout back at $1633 and the metal has not disappointed since.  That plus the likely accumulation building over the summer will continue to underpin the metal.

I've been long since $1633…


Added by 2ndSkiesForex on September 9, 2012 at 9:12pm — No Comments

Forex Price Action - Large AUD/USD Engulfing Bar | Sept. 6th


Taking a more quantitative approach to the Aussie today;

After selling off 13 of the last 19 days and shedding 450pips in the process, the Aussie took back almost three days of losses with an impressive bullish engulfing bar. This is the fifth largest bull bar on an open to close basis for the year.



Added by 2ndSkiesForex on September 6, 2012 at 10:15pm — 1 Comment

Weekly Price Action & Ichimoku Highlights Sept. 2nd-7th


In my last weeks market commentary, I wrote about the Aussie breaking the Kijun-Sen and closing below it on the daily charts for the 1st time, suggesting short term bearish momentum should take over.  This is exactly how it played out with the pair selling off 3 of the next 4 days while even rejecting off the Kijun.…


Added by 2ndSkiesForex on September 2, 2012 at 8:45pm — No Comments

Weekly Price Action & Ichimoku Outlook Aug. 26th - 31st


After bottoming on the year with an engulfing reversal bar, the pair has gained 4 of the last 5 weeks for the first time this year.  The bulls were on parade all last week till they ran into the weekly 20ema before being rejected back 81pips from the highs.  So far this year, the pair has closed all but 3 weeks above…


Added by 2ndSkiesForex on August 26, 2012 at 9:10pm — 3 Comments

Forex Price Action - Aussie Forms Intraday Engulfing Bar, STB in Place? Aug. 15th


Yep, another day on the Aussie which happens to be one of my favorite pairs to trade daily. Yesterday I talked about how the impulsive price action selling on the pair, combined with a bearish engulfing bar, clued me into further selling for the pair.

As many of you know from my …


Added by 2ndSkiesForex on August 15, 2012 at 10:33pm — No Comments

Price Action Setup - Aussie Engulfing Bar Off Role Reversal Level - Aug 14th


Sticking with the Aussie today, which I've been bearish on since Sunday - the pair sold off yesterday and formed a bottom off 1.0496 via an intraday pin bar setup.  But notice how the reaction off said bottom was corrective while the selling price action was impulsive?  This clued me into the fact the pullback was not heavily bought up by the institutions, and to look…


Added by 2ndSkiesForex on August 14, 2012 at 10:11pm — No Comments

2 Key Clues to Understanding Support and Resistance Levels

While my trading team and I are mostly on vacation for the month of July, I wanted to write a brief article giving 2 key clues to understanding support and resistance levels, which is also a follow up to my prior article the best support and resistance levels part 1.  If you can learn to understand these two key points, you will be able to detect key levels, when…


Added by 2ndSkiesForex on July 20, 2012 at 6:02pm — No Comments

Forex Price Action Setups - Bearish Engulfing Bar for Kiwi - June 21st


After forming an inverted pin bar on approach to .8000, the Kiwi followed with a large bearish engulfing bar giving a kiss off the round number, then selling off over 140pips for 8hrs straight. This single engulfing bar took out the last three days of gains, reminding us the downside still has far more teeth then the…


Added by 2ndSkiesForex on June 21, 2012 at 10:55pm — No Comments

Weekly Forex Price Action Outlook June 3rd - 8th


The Euro shed about 300pips last week ending by forming a bullish engulfing bar off the 1.2300 figure.  Although it has done this earlier during this one month sell-off and downtrend, we feel its possible this one has a little more chap in it being the record IMM shorts we have been talking about on this blog.…


Added by 2ndSkiesForex on June 3, 2012 at 10:42pm — 2 Comments

Forex Price Action Setups (Spain, Greece & the Horror with No End) May 28th

Spain, Greece and the Horror with No End...For Now

Although markets were calm today from the US Memorial Holiday, Spain today asked the EU to act in providing support for fiscally frail gov'ts (read 'Spain is begging for help') as its fiscal gaps and banking system (but, but...Bankia is fully solvent you said) are getting pummeled with soaring yields which are punishing the rates on bonds.  Again, Spain is 4x larger than Greece so if Spain…


Added by 2ndSkiesForex on May 28, 2012 at 11:18pm — 4 Comments

Forex Price Action Setups - China Slowing, Fear & Loathing in Europe - May 24th

China Slowing Down, Fear & Loathing in Europe

Prior to the London open, the China HSBC Flash Manufacturing came out worse than expectated, alarming investors globally since the motherland slowing down is a big concern as the weakening output affects all.  This initially sent the AUD and NZD lower but both recovered shortly after to hold modest gains throughout the day.


The situation did not get any better with German manufacturing also…


Added by 2ndSkiesForex on May 24, 2012 at 11:00pm — No Comments

Forex Price Action Setups - Euro Hits Near 2-YR Low, Grexit Fears Persist May 23rd

Euro Hits Near 2-Yr Low, Grexit Fears Persist

The Euro got hammered in NY trading dropping 120+pips in about 3 hours as the EU summit didn't really calm any fears of an eventual Grexit from the EZ.  Of course EZ officials telling members of the currency bloc to prepare contingency plans for an exit are not helping. 

Oh yeah, did we forget to mention European banks have the highest loan-to-deposit ratio in the world (3x that of the US banks)?…


Added by 2ndSkiesForex on May 24, 2012 at 12:11am — 2 Comments

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