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Engulfing Candle

Bull or bear beat holding +249.2% over a year, in profit in MayAs traders we look to capitalise on all sort of markets, not just parabolic runs. Today we are exploring how to run a long strategy even when the bulls are not in control. WILL POST LAST 50 POSITIONS BELOW We are looking for an strategy that: 1. has been beating buy and hold all year 2. Has a drawdown of max 15% in may 2021 3. Is simple to execute and automate Not all candlestick patterns are created equal, and they do not work on all markets. However they do work in crypto, at least based on experience as they are not tough to identify and speculators tend to react to them. This is why we focused on candles that are not that difficult to identify and are very clear in meaning. The strategy (FULL INSTRUCTIONS): On the 30 min timeframe: We are going to open a position when the candle is a bullish Engulfing We are going to close the position when the candle is bearish Marubozu No stop loss or take profit, these are the only rules we follow, but we follow them a 100% of the time. The results: The strategy brought in 249.17%, beating holding. If you started trading this a year ago with 1 Bitcoin, you would be 2.4917 BTC in profit at the moment. What's even better the max drawdown throughout the year was 22.7% and it was actually in February. During May we were only 11% down at a certain point. This provides a Sortino Ratio of 5.44 which is a stellar mark for these volatile markets. The positions: 31/05/2021 04:30 31/05/2021 14:00 10 hours OP 0.06681 CP 0.068884 +3.1% 29/05/2021 21:30 30/05/2021 19:30 22 hours OP 0.065407 CP 0.067746 +3.58% 29/05/2021 00:30 29/05/2021 18:00 18 hours OP 0.068427 CP 0.066952 -2.16% 28/05/2021 07:30 28/05/2021 14:30 7 hours OP 0.069574 CP 0.069572 -0.00287% 25/05/2021 18:00 27/05/2021 19:30 2 days OP 0.068144 CP 0.071024 +4.23% 24/05/2021 00:30 25/05/2021 03:30 1 day OP 0.061435 CP 0.067043 +9.13% 22/05/2021 22:30 23/05/2021 12:30 14 hours OP 0.062197 CP 0.0581 -6.59% 22/05/2021 11:00 22/05/2021 17:30 7 hours OP 0.064251 CP 0.06059 -5.7% 19/05/2021 22:00 20/05/2021 21:00 23 hours OP 0.066705 CP 0.068997 +3.44% 17/05/2021 23:00 19/05/2021 07:00 1 day OP 0.075193 CP 0.074787 -0.54% 17/05/2021 06:30 17/05/2021 09:30 3 hours OP 0.076593 CP 0.077412 +1.07% 14/05/2021 13:00 15/05/2021 14:30 1 day OP 0.079504 CP 0.078525 -1.23% 13/05/2021 16:30 13/05/2021 23:30 7 hours OP 0.076788 CP 0.074242 -3.32% 12/05/2021 10:30 13/05/2021 15:30 1 day OP 0.075732 CP 0.075619 -0.149% 11/05/2021 06:30 12/05/2021 10:00 1 day OP 0.071125 CP 0.075353 +5.94% 09/05/2021 16:00 10/05/2021 11:00 19 hours OP 0.06759 CP 0.069748 +3.19% 07/05/2021 13:30 09/05/2021 00:30 1 day OP 0.061147 CP 0.065733 +7.5% 05/05/2021 01:30 06/05/2021 23:30 2 days OP 0.061121 CP 0.061832 +1.16% 03/05/2021 00:30 04/05/2021 22:00 2 days OP 0.05225 CP 0.061328 +17.4% 01/05/2021 22:30 02/05/2021 05:30 7 hours OP 0.051064 CP 0.051111 +0.092% 30/04/2021 19:00 01/05/2021 15:00 20 hours OP 0.048829 CP 0.049703 +1.79% 30/04/2021 09:30 30/04/2021 16:00 7 hours OP 0.051113 CP 0.047849 -6.39% 29/04/2021 08:30 30/04/2021 02:30 18 hours OP 0.050351 CP 0.051114 +1.52% 28/04/2021 10:00 29/04/2021 00:30 15 hours OP 0.04799 CP 0.049829 +3.83% 27/04/2021 00:00 27/04/2021 19:30 20 hours OP 0.046896 CP 0.047795 +1.92% 26/04/2021 10:00 26/04/2021 13:00 3 hours OP 0.046466 CP 0.046378 -0.189% 24/04/2021 21:00 25/04/2021 13:30 17 hours OP 0.045035 CP 0.046231 +2.66% 22/04/2021 20:00 24/04/2021 17:00 2 days OP 0.04791 CP 0.044796 -6.5% 19/04/2021 12:00 22/04/2021 18:00 3 days OP 0.039343 CP 0.04728 +20.2% 16/04/2021 10:30 17/04/2021 19:00 1 day OP 0.03943 CP 0.039117 -0.794% 15/04/2021 18:00 16/04/2021 05:00 11 hours OP 0.039286 CP 0.039291 +0.0127% 13/04/2021 17:30 15/04/2021 17:00 2 days OP 0.0363 CP 0.039141 +7.83% 13/04/2021 14:30 13/04/2021 17:00 3 hours OP 0.03575 CP 0.035968 +0.61% 12/04/2021 11:00 12/04/2021 12:30 2 hours OP 0.035761 CP 0.035598 -0.456% 11/04/2021 03:30 12/04/2021 09:30 1 day OP 0.035639 CP 0.035866 +0.637% 10/04/2021 21:00 10/04/2021 23:30 3 hours OP 0.035761 CP 0.035688 -0.204% 08/04/2021 22:30 09/04/2021 13:30 15 hours OP 0.035729 CP 0.035448 -0.786% 08/04/2021 02:00 08/04/2021 18:30 17 hours OP 0.035231 CP 0.035636 NA +1.15% 05/04/2021 05:30 06/04/2021 19:30 2 days OP 0.035409 CP 0.036274 +2.44% 02/04/2021 13:00 04/04/2021 03:00 2 days OP 0.033704 CP 0.035098 +4.14% 01/04/2021 13:30 02/04/2021 04:00 15 hours OP 0.032793 CP 0.033349 +1.7% 30/03/2021 06:30 31/03/2021 22:00 2 days OP 0.03138 CP 0.032743 +4.34% 27/03/2021 09:00 30/03/2021 02:30 3 days OP 0.030822 CP 0.031326 +1.64% 26/03/2021 02:00 27/03/2021 04:00 1 day OP 0.03114 CP 0.030919 -0.71% 25/03/2021 16:00 25/03/2021 20:00 4 hours OP 0.031273 CP 0.030754 -1.66% 23/03/2021 17:30 23/03/2021 20:30 3 hours OP 0.030826 CP 0.03091 +0.272% 20/03/2021 15:30 23/03/2021 00:30 2 days OP 0.031261 CP 0.030839 -1.35% 20/03/2021 00:00 20/03/2021 05:30 6 hours OP 0.031174 CP 0.031295 +0.388% 18/03/2021 18:00 19/03/2021 03:30 10 hours OP 0.030665 CP 0.03087 +0.669% 17/03/2021 07:30 17/03/2021 18:00 11 hours OP 0.031816 CP 0.032216 +1.26%
Education
by CleoFinance
4
NZDCHF - IN TREND ENGULFING LONG SETUP (D)Confluences: Bullish engulfing Lower bollinger band outbreak Rejected strong support/demand zone Long term uptrend Close above 20 EMA TP set at the candle body high of the previous highs. SL set below engulfing candle low (safe) or below 4H engulfing candle low (riskier). A close above the resistance trend line will confirm further increase in price. Will be looking to re-enter this setup if price pulls back strongly then forms a strong bullish engulfing on the 15m, 30m or 1H time frames.
Long
by justinholtgrave
TSLA: Two scenarios for us to work with!Hello traders and investors! Let’s see how Tesla is doing today! First, in the 1h chart, we see that it is trading inside a short-term congestion , between the red lines. Today, Tesla just retested the upper line, and it seems it won’t break it right now. In fact, it is doing a bearish engulfing. The 21 ema is useless during congestions, so it is not a reliable support/resistance level. On the bright side, Tesla is not in a bear trend anymore , as it is not doing lower highs/lows. Now, this congestion will determine the direction of the next movement. We might see a breakout from the $ 560 or the $ 592, and we can set targets for both scenarios. Let’s see the daily chart: We have a congestion in the daily chart as well, and we are in the bottom area. If Tesla loses the $ 560, the next target is the $ 538, and below that, we have the $ 400 area. But if Tesla breaks upwards, it has the $ 690 as the next technical target, but maybe the 21 ema will hold the price briefly. Anyway, we must take care now, and be prepared for different scenarios. If you like this analysis, remember to follow me to keep in touch with my daily studies, and remember to s upport this idea if it helped you ! Thank you very much!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
japanese candlestick patterns (engulfingbar bar)the engulfing bar: an engulfing pattern signals a reversal, and can be bullish or bearish. It comprises two candles. the body of the second one must engulf the body of the first one. There are two type of engulfing bars The bullish engulfing bar that cosists of two candles. the bosy of the second candle is greater in size than the previous candle. This pattern is considered to be reversal, because when it appears in a downtrend, it signals a revesal. The bearish engulfing candle consists also two candles, but it is the opposite version of the bullish engulfing bar . Be cause when it occurs in the end of an uptrend, it signals a future price reverse.
OANDA:XAUUSDEducation
by tradeplanprofit
2
A Trend to the Upside for this FinTech?This is building from my original idea published for ABXXF, listed here in the US on the OTC; However, you can't really glean too much from it's chart. You can see the original ideas linked under 'Related Ideas". I'm expecting the cup and handle formation to continue with it reaching resistance around CAD$4.40-$4.45 (US$4.20). > The 4-Hour Charts for ABXX & ABXXF, both, currently on a green '2' candle. I'm expecting a full 9 candle trend to the upside to continue. A green number '2' candle sitting on top of a green number '1' candle is very bullish. If all goes to plan, the green '1' candles on the daily-charts for both ABXX & ABXXF could give us the same trend I just mentioned above. Regardless of these technicals, I really like this company and believe in what they are trying to achieve. The Company: Abaxx is a blockchain and ESG company focused on commodities like LNG (Liquified Natural Gas ) and Gold! Abaxx Tech came to the market through a RTO (Reverse Take-Over) of New Millennium Iron (NML & NWLNF). The serially successful mining and media billionaire mogul, Robert Friedland, was one of Abaxx's first angel investors. Abaxx Technologies has multiple subsidiaries. One of the subsidiaries is the Abaxx Exchange where Abaxx Tech receives a royalty for the commodities listed on the exchange. See more info about the company on its websites: Abaxx.Tech & Abaxx.Exchange **Keep in mind I'm an amateur investor nothing I say should be seen as financial advise. I am a small shareholder in this company because I believe in their mission and what they are trying to achieve. I've been a shareholder since the company was called New Millennium Iron when I learned that Robert Friedland was an angel investor in a young entrepreneur and ex-Goldman Sachs exec named Josh Crumb, founder of GoldMoney. I listen to 'Smarter Markerts', an Abaxx-sponsored podcast to learn more about the titans behind the Abaxx in the world of Mining, Blockchain, Finance and ESG. At least listen to the first episode where Robert Friedland lays out his vision behind a greener future. He discusses the importance of ESG, blockchain, batteries, copper, and more. You'll understand more as to why I'm so interested in what Abaxx is doing. I am long ABXX.
NEO:ABXXLong
by the13thalien
1
BTC USD Daily. Bullish engulfing. Ascending Channel. BTC closed on the 5th of May with an engulfing candle. Bitcoin won that day, but only just. Also price action currently remains within a larger ascending channel, two touches to the top so far and two touches to the bottom. A third touch of either may well be the break this time. Price action is still trying to move to the upside, for me, the bulls have it at the moment. I think it could test ATH on this run. But...You will see my ascending line in red which is current price action support. If it breaks this convincingly then we may well look at a visit to the 50K region. My immediate area of interest on this chart is the red ascending line, I am keen to see what develops there if we get another touch on it. I'm not in a trade. I'm watching and HODL. But, I am bullish and will commit to being long.
COINBASE:BTCUSDLong
by iDoji
9
Bullish Reversal - New ATH within the next 10 daysBITSTAMP:BTCUSD After the massive selling pressure yesterday, Bitcoin bounced at the 52900 level. Today, we saw a huge correction to the upside. As we can see, the last two daily candles form an engulfing pattern . We also saw a higher wick of the daily candle than the yesterdays candle opening. If the daily candle remains or closes above the yesterdays candle, we might see a bullish reversal which will confirm the higher low of last night. Therefore, within the next 2-3 days we will see a retest of the 60K levels.
BITSTAMP:BTCUSDLong
by Sony3131
BTC - W1 - LAST WEEK PRICE ACTION TRIGGERED A BULLISH ENGULFING W1 : As shown on this chart, last week price action triggered a long white candle (bullish engulfing) which neutralized the former downside risk. In addition BTC closed above the Tenkan-Sen (Conversion line) which is also a positive sign. The pivot level on this W1 time frame is @ 52'700. Indeed, as seen in the past, this area coincided at the middle of long candle and therefore should also be seen as an equilibrium level. Therefore, BTC is caught now in a 52'700-60'000 trading range (59'979 being the high weekly closing seeing so far !) GLOBAL PICTURE ON A WEEKLY PERSPECTIVE - IMPLICATIONS OF A BREAKOUT OF THIS TRADING RANGE : Upside : Door open for 61'075 ahead of a retest of historical high @ 64'895 Downside : Mid Bollinger Band @ 47'525 Watch D1 for clues Have a nice week and have fun. All the best Take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
DASH - powerful price actionDASH bottomed out with a mini inverted Head & Shoulders before breaking above the neckline @ 136 with a strong bullish engulfing candle last Friday. More upside potential especially now with RSI clearing above 50. Ideally one should have entered yesterday at the open @ 138 or as soon as it started to go above Fri's high @ 141. Otherwise, accumulate on any near term weakness with a tight initial stop loss below yesterday's candle ~ 133. Target shown are suggested only. Or ride the trade with trailing stops. Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
DLong
by Juliac
TSLA - Here we go (up) againAfter hitting a mini high of 780 on 14 April, and just when the bulls are thinking it is going straight to the moon, Telsa went into a rather painful correction. Finally we had enough signals last Friday to be optimistic that this recent correction could be over: 1. retraced 61.8% of it's recent CD swing up and appeared to have found support here by bouncing off here and 2. formed a bullish engulfing candle 3 bullish divergence seen between price and stochastics Those who go long now will need to put the initial stop loss below it's last low of 666 (perhaps as low as 658). Should this trade fail, retest at the next significant support around 591. Should the trade works out (which at this point the odds looks good), consider to take partial profits @ 780, then 900-925 and finally 1000. Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Feel free to give me your thoughts ! :)
NASDAQ:TSLALong
by Juliac
2