The gap, the triangle, the pin
Attached Image (click to enlarge)
.
Cable Update (GBPUSD)
- #32,403
- Sep 24, 2007 12:53pm Sep 24, 2007 12:53pm
- Joined Jul 2007 | Status: C.E.O of BWR Investment firm | 4,736 Posts
Just Trade It
- #32,404
- Sep 24, 2007 12:53pm Sep 24, 2007 12:53pm
- Joined Jul 2007 | Status: al zahr | 2,820 Posts
My data feed...
Last Close 2.0200
Today Open 2.0200
Today Low 2.0194
O/C = 5pm EST
btw Daily 50 SMA = 2.0200
If we hold this levels... we are almost 20 pips above it. Something to consider..
.
- #32,405
- Sep 24, 2007 12:57pm Sep 24, 2007 12:57pm
- Joined Jul 2007 | Status: al zahr | 2,820 Posts
That first post was on the 19th
Not really a I told You so post but, I told you so, so far anyways as a down movement on monday.
Cool
.
- #32,406
- Sep 24, 2007 12:58pm Sep 24, 2007 12:58pm
- Joined Jul 2007 | Status: al zahr | 2,820 Posts
.
- #32,407
- Sep 24, 2007 1:19pm Sep 24, 2007 1:19pm
Yes OK I just showed what I see... But I am long you know and anything supports that is OK
We see a "pin bar" last week, but if we think about it, when a pin bar setup forms, the next bar tends to retrace a little below the opening, in some cases until the low of the bar previous to the pin (to form the second eye), and only after, shoots up.
I prefer to trade this kind of setup like we should trade an "hammer candle" but... you as a quant might know better than me that rare are the weeks when a Weekly candle on GU doesn't have a more visible lower shadow.
I mean, i'm not saying it will go down a lot, but statisticaly speaking its rare a weekly candle not to retrace a little bit more below opening and only then proceed with the trend main direction.
What do you think?
- #32,408
- Sep 24, 2007 1:48pm Sep 24, 2007 1:48pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Financial concerns emerging again, after rumors Deutsche Bank will take a $ 2.4 billion hit to its quaterly profit...
Dow traded from +50 to -40 already...
Again, I really want to see what will be of all markets if renewed concerns emerge right after strong rate cuts from Fed.... Either the situation will get out of control or Fed will have to go on and on pumping cash and lowering rates smashing the dollar....
Interesting days ahead...
Dow traded from +50 to -40 already...
Again, I really want to see what will be of all markets if renewed concerns emerge right after strong rate cuts from Fed.... Either the situation will get out of control or Fed will have to go on and on pumping cash and lowering rates smashing the dollar....
Interesting days ahead...
- #32,409
- Sep 24, 2007 2:09pm Sep 24, 2007 2:09pm
- Joined Jan 2007 | Status: Trader | 3,719 Posts
Nihil Sine Deo.
- #32,410
- Sep 24, 2007 2:21pm Sep 24, 2007 2:21pm
- Joined Jul 2007 | Status: C.E.O of BWR Investment firm | 4,736 Posts
Just Trade It
- #32,411
- Sep 24, 2007 2:24pm Sep 24, 2007 2:24pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Here is MY view on the current situation...
http://www.seabel.com/images/uploads/bull_tongue.jpg
http://www.darthvato.com/Funny/bear.jpg
*** Not a trade advice ***
http://www.seabel.com/images/uploads/bull_tongue.jpg
http://www.darthvato.com/Funny/bear.jpg
*** Not a trade advice ***
- #32,412
- Sep 24, 2007 2:39pm Sep 24, 2007 2:39pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #32,413
- Sep 24, 2007 3:05pm Sep 24, 2007 3:05pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Whatta lousy day today...
Out for the gym.... A lot of double tops and bottoms, round figures, back testing the whole package, begging to be taken profit of....
Out for the gym.... A lot of double tops and bottoms, round figures, back testing the whole package, begging to be taken profit of....
- #32,414
- Sep 24, 2007 3:08pm Sep 24, 2007 3:08pm
- Joined Jul 2007 | Status: al zahr | 2,820 Posts
I'm worried about one thing... take a look at the weekly chart.
We see a "pin bar" last week, but if we think about it, when a pin bar setup forms, the next bar tends to retrace a little below the opening, in some cases until the low of the bar previous to the pin (to form the second eye), and only after, shoots up.
I prefer to trade this kind of setup like we should trade an "hammer candle" but... you as a quant might know better than me that rare are the weeks when a Weekly candle on GU doesn't have a more visible lower shadow.
I mean, i'm not saying it will go down a lot, but statisticaly speaking its rare a weekly candle not to retrace a little bit more below opening and only then proceed with the trend main direction.
What do you think?
Maybe you are right.
.
- #32,417
- Sep 24, 2007 3:32pm Sep 24, 2007 3:32pm
- Joined Sep 2006 | Status: Trader | 2,272 Posts
me 2...i think the picture i saw few posts above,..i see a diamond there (and a lovely one),..thats a long, long term bulish 2 me...and weekly&dailly confirms...but ofcourse sell stops, can be triggered as well....
: ...
: ...
its just money
- #32,419
- Sep 24, 2007 4:12pm Sep 24, 2007 4:12pm
- Joined Jul 2007 | Status: al zahr | 2,820 Posts
Daily close 5pm EST 2.0200
Not a pin bar!
Psicologicaly its almost the same, inverted hammer, but...
Close above previous day high. No pinocchio around...
.
- #32,420
- Sep 24, 2007 4:21pm Sep 24, 2007 4:21pm
Yep. Exactly.. Statistically speaking if there is higher higher and higher low it is bullish. It doesn't matter what color is the body and what is the size of the body and what is the size of the top and the bottom... Just I know from my analysis....
I noticed that your daily candle for today is red lol, but if this makes you happy... here is how my chart looks...
http://img519.imageshack.us/img519/5742/ot001go9.jpg
See... its blue lol. "green close"