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Daily candle chart

  • #1,141
  • Jun 10, 2008 7:09am Jun 10, 2008 7:09am
sometime we see real other players in fx market
if if we see the DOW below 12000 , we must see unwind carry trades
fall for yen cross
  • #1,142
  • Jun 10, 2008 7:12am Jun 10, 2008 7:12am
Quoting hussin naiji
sometime we see real other players in fx market
if if we see the DOW below 12000 , we must see unwind carry trades
fall for yen cross
now future DOW is falling (12190)
  • #1,143
  • Jun 10, 2008 11:35am Jun 10, 2008 11:35am
Quoting hussin naiji
now future DOW is falling (12190)
Hello Hussin,

also have a look to nikkei, its dancing around 14.000, and stochastics are
high and crossing :-)

You mentioned the US.10.YEAR TREASURY in post 772, whats got to to with this ? Are there othere things/indicators among dow, nikkei, treasury bonds to watch closly?

Hope you have a nice day !
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  • #1,144
  • Jun 10, 2008 1:42pm Jun 10, 2008 1:42pm
Quoting peaches
Hello Hussin,

also have a look to nikkei, its dancing around 14.000, and stochastics are
high and crossing :-)

You mentioned the US.10.YEAR TREASURY in post 772, whats got to to with this ? Are there othere things/indicators among dow, nikkei, treasury bonds to watch closly?

Hope you have a nice day !
hi peaches
pay attention to yellow -zone in daily chart USDYEN and conformity with daily chart US.year treasury.
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Attached Image
  • #1,145
  • Jun 10, 2008 2:47pm Jun 10, 2008 2:47pm
Quoting BabeFX
Peaches,

For a better understanding of candles try to get hold of a copy of "The Japanese Chart Of Charts" as recommended by our candle specialist hussin.

I managed to obtain a copy last week, it will take me quite a long time before I feel confident enough to trade the various setups, but I feel that you will be able to profit from the setups much quicker than me.

Regards,

BabeFX.
Hi Babe :-)

Thanx for the hint, i´ll give it a try. I think i could spy 6-8 important patterns by eye. I have got winner-trades since I spot candelstick-patterns, now i have to cut those losers...
  • #1,146
  • Jun 10, 2008 2:56pm Jun 10, 2008 2:56pm
Quoting BabeFX
Peaches,

For a better understanding of candles try to get hold of a copy of "The Japanese Chart Of Charts" as recommended by our candle specialist hussin.

I managed to obtain a copy last week, it will take me quite a long time before I feel confident enough to trade the various setups, but I feel that you will be able to profit from the setups much quicker than me.

Regards,

BabeFX.
http://www.forex-book.org/japanese-c...free-download/
http://www.forex-book.org/candlestic...free-download/
http://www.forex-book.org/the-candle...free-download/
http://www.forex-book.org/profitable...free-download/
  • #1,147
  • Jun 10, 2008 2:59pm Jun 10, 2008 2:59pm
Quoting silverheat
Hi Peaches,

I,m happy for u they say: a trade which was not taken and saved u money is as good as a winning trade

i looked at AUD/NZD and yes there was indecision yesterday, stoch also overbought, but on both AUD/USD and NZD/USD bears are in charge, so wouldnt it be better to play one of those or both instead of AUD against NZD?
as hussin spottet from the monthly, there is room for AUD/NZD to move 1,27/1,28. Now I am in this trade , so i will hold it with SL above the monthly trendline. I trade really small units, so there is no problem for this.

But look for the beautifull setup on usd/cad....what might be the targets ?
50% fibo, 61,8 fibo, middle of the channel, the last trendline, which might be resistance from now on ? Well, let candelstick-pattern decide for exit :-)
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  • #1,148
  • Jun 11, 2008 2:54am Jun 11, 2008 2:54am
Hi hussin,

i read into the book with fibonacci and i tried it on NZD/USD (i think i know how u use the yellow lines now )
the 5 waves pattern with fibonacci extension:
the 2.618 and 1.618 extension lines are nearly on the same pricelevel, which is very good, if this pattern occurs.

however, did i used the right spot for starting to draw the extensions?
i thought there was a good point, because of the breakout of the little sideway channel.

the other problem might be with the point where we are now, it looks like a reversal pattern may occur (engulfing) and if it reverses the extension wouldnt be valid anymore?
or could it be a 7 waves pattern?

@Peaches: i agree with u, this looks like a perfect setup, i would short USD/CAD
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Invincibility lies in the defence, the possibility of victory in the attack
  • #1,149
  • Jun 11, 2008 8:31am Jun 11, 2008 8:31am
EJ 12H....I try short...
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  • #1,150
  • Jun 11, 2008 3:38pm Jun 11, 2008 3:38pm
Quoting metatsock
EJ 12H....I try short...
Hi meta, e/j is very difficult, look at the monthly, bullish since 2000, and last 3 bullish month in a row. main cause is the very bullish eur. So until I see a clear bearish sign on the weekly, i won´t short this one. It might reach new high, price likes round numbers, how about 170,00 ?

nearly the same on eur/usd: we have seen the top, but this doens´t means price won´t reach 1,59 again.

This days candle for e/j gives not a confirmation for short, so i would short this one, if its developing bearish tommorrow during london/new york session.
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  • #1,151
  • Jun 11, 2008 3:53pm Jun 11, 2008 3:53pm
Quoting peaches
Hi meta, e/j is very difficult, look at the monthly, bullish since 2000, and last 3 bullish month in a row. main cause is the very bullish eur. So until I see a clear bearish sign on the weekly, i won´t short this one. It might reach new high, price likes round numbers, how about 170,00 ?

nearly the same on eur/usd: we have seen the top, but this doens´t means price won´t reach 1,59 again.

This days candle for e/j gives not a confirmation for short, so i would short this one, if its developing bearish tommorrow during london/new york session.
hi peaches
im agree with meta
  • #1,152
  • Jun 11, 2008 3:54pm Jun 11, 2008 3:54pm
Quoting hussin naiji
hi peaches
im agree with meta
i think EJ is in the top
  • #1,153
  • Jun 11, 2008 4:16pm Jun 11, 2008 4:16pm
Quoting metatsock
EJ 12H....I try short...
Hi to all!
I had close order at .75 -> +50pips , just scalping
Daily chart show no clear decision of market....so I prefer to close position....

Regards
  • #1,154
  • Jun 11, 2008 4:17pm Jun 11, 2008 4:17pm
Quoting hussin naiji
i think EJ is in the top
i´m short on aud/jpy, gbp/jpy, and usd/jpy, and i saw nice drop of dow today (nice bearish candle, full body, no shadows). But as a newbie i´m carefull :-)
Like to see price reach 38% fibo on the monthly for gbp/jpy before big drop.

If usd/jpy fall, eur/usd goes higher. I also bought bullish gbp/usd, gold, and bullish nzd/usd. and sell usd/cad. Hope news tomorrow won´t turn direction of price. moved my sl +1, lets see...
  • #1,155
  • Jun 12, 2008 9:58am Jun 12, 2008 9:58am
look at the nice volume yesterday, pretty high, but price not moving up...
The bump will be hard and fast. Don´t know what mr. ben will say, but
this will come down in a few hours, or tomorrow. First target in the middle of the channel and second at the bottom. I have to watch soccer now...
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  • #1,156
  • Jun 13, 2008 9:54pm Jun 13, 2008 9:54pm
Candlestick Forecast for 14 June 2008


1. USDCHF
At the time of posting

YESTERDAY
- Bullish Harami Line Confirmation: Buy Signal/breakout = Buy, move stop to the previous candle’s low, i.e. 1.03 (If current signal agrees with longer term cycles, then give this signal more weight )

2 DAYS AGO
-- Bullish Harami Line: WAIT!

3 DAYS AGO
--- Bearish Harami Line: Look for Reversal = Indecision in market. Possible Reversal.

4 DAYS AGO
---- Trusting Line Confirmation: Buy Signal
--- Bullish Trending Candle Body Reversal: Buy Signal


2. USDJPY
At the time of posting

YESTERDAY
- Engulfing Bullish Line Confirmation: Market is overbought = Maintain long position, move stop under 107.63 the current candle’s low
- Stochastic Oscillator is Overbought

2 DAYS AGO
- Last Engulfing Candle: Possible top

3 DAYS AGO
-- Bearish Harami Line: Look for Reversal = Indecision in market. Possible Reversal.

3 DAYS AGO
---- Engulfing Bullish Line Confirmation: Bullish & Overbought
---- Bullish Trending Candle takes over: Buy Signal


3. EURUSD
At the time of posting

YESTERDAY -
- Bearish Trending Candle takes over: Bearish Continuation

2 DAYS AGO
-- Bearish Trending Candle takes over
-- Engulfing Bearish Line: Bearish

3 DAYS AGO
--- Piercing Line: Possible Reversal

4 Days AGO
---- Dark Cloud Cover Confirmation: Sell Signal


4. GBPUSD
At the time of posting

YESTERDAY
- White Doji
- Harami Black Cross: Wait for next signal, look for reversal = It may be wise to wait for next signal before entering the market. Then with confirmation you may enter the market on the long side.

2 DAYS AGO
-- Piercing line: possible reversal

3 DAYS AGO
--- Piercing line: possible reversal

4 DAYS AGO
---- Black Inside Out Down: Sell Signal



5. GBPJPY
At the time of posting

YESTERDAY
- Engulfing Bullish Line Confirmation: Market Overbought = move stop to current candle’s low at 209.69
- Stochastic Oscillator: Market Overbought
- Bullish Trending Candle takes over: Bullish continuation

2 DAYS AGO
-- White Spinning Top: no direction/neutral
-- Engulfing Bullish Confirmation: Bullish & Overbought

3 DAYS AGO
--- Double Doji Lines: possible reversal
--- Last Engulfing Bullish: possible Top
---Stochastic Oscillator: Overbought

4 DAYS AGO
---- Black Doji Star Reversal: possible top
---- Incomplete Dark Cloud Cover: Sell on confirmation
  • #1,157
  • Edited Jun 15, 2008 7:05am Jun 14, 2008 5:50pm | Edited Jun 15, 2008 7:05am
in the weekly candle chart USDYEN ,we see a blue opening Marubozu previous week that with combination red closing Bozu give to us a bullish engulfing pattern .of course a Blue opening Marubozu is a candlestick pattern with low reliability .
if we see to weekly candle chart USDYEN from date 1999-2008 for Blue candlesticks with 300 till 370 pips up ,this observation shows to us that only there are 10 candle in the following order:
1-1999/2/28 with 340 pips up then after one week 200 pips down.
2-1999/3/21 with 330 pips up then after one week 200 pips down.(lower wick) after two week without change and after next one week 300 pips down.
3-2000/1/2 with 327 pips up then after one week 130 pips down. (lower wick)
4-2001/2/25 with 310 pips up then after one week without change and then next week 340 pips up.
5-2001/3/25 with 325 pips up then after one week 260 pips down.
6-2007/3/17 with 370 pips up then after one week without change and then next week 150 pips down.
7-2002/9/8 with 310 pips up then after one week 130 pips up.
8-2003/16 with 355 pips up then after one week 130 pips down.
9-2004/12/5 with 300 pips up then after one week 140 pips down.
10-2088/6/8 ?????????????????
only in two case up and in eight case down.on the other hand pattern date 2008/6/8 is more similar pattern date 2004//12/5.
i think we will see a downtrend for USDYEN in the next weeks even with this bullish pattern .
let see

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  • #1,158
  • Jun 15, 2008 7:49am Jun 15, 2008 7:49am
in the weekly candle chart EURUSD ,we see a red Marubozu previous week that give to us a bearish engulfing pattern .of course a red Marubozu is a candlestick pattern with low reliability .
if we see to weekly candle chart EURUSD from date 2000-2008 for red candlesticks with 300 till 490 pips down ,this observation shows to us that only there are 10 candle in the following order:
1-2000/09/03 with -330 pips down thn after one week -120 pips down
previous weekly candlestick was a hanging man.
after candlestick was a red candle.
and in continuation a downtrend
2-2001/03/11 with -350 pips down then after one week without change and next week with -150 pips down .
previous weekly candlestick was a hanging man.
after candlestick was a red candle.
and in continuation a downtrend .
3-2003/08/17 with -380 pips down after one week +110 pips up .
previous weekly candlestick was a red spinning top .
after candlestick was a blue candle
and in continuation a downtrend .
4-2004/01/11 with 445 pips down then after one week +200 pips up.
previous weekly candlestick was a blue candle.
after candlestick was a blue candle
and in continuation a uptrend .
5-2004/07/18 with -350 pips down then after one week - 100 pips down.
previous weekly candlestick was a hanging man.
after candlestick was a red candle.
and in continuation a neutral trend .
6-2005/01/02 with -490 pips down then after one week without change and next week with -105 pips down .
previous weekly candlestick was a shooting star.
 after candlestick was a die inverted hammer .
and in continuation a downtrend .
7-2005/03/20 with -350 pips down then after one week -60 pips down .
previous weekly candlestick was a red candle .
after candlestick was a red candle.
and in continuation a downtrend .
8-2005/05/29 with -300 pips down then after one week -100 pips down .
previous weekly candlestick was a blue spinning top .
 after candlestick was a red candle.
and in continuation a downtrend .
9-2005/08/14 with -300 pips down then after one week +113 pips up .
previous weekly candlestick was a blue candle .
after candlestick was a blue candle.
and in continuation a uptrend .
10-2008/06/08 with -410 pips down then after one week ?????????????????????????????????????
in three case up and in seven case down.
attention :EURUSD IS A DOWNTREND
attention:lower wicks
LET SEE
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  • #1,159
  • Jun 15, 2008 9:15am Jun 15, 2008 9:15am
in the weekly candle chart GBPUSD ,we see a red Marubozu previous week that give to us a hanging man pattern .
whether we will see again repeat date 2005.3.13 ??
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  • #1,160
  • Jun 15, 2008 1:23pm Jun 15, 2008 1:23pm
Quoting silverheat
Hi hussin,

i read into the book with fibonacci and i tried it on NZD/USD (i think i know how u use the yellow lines now )
the 5 waves pattern with fibonacci extension:
the 2.618 and 1.618 extension lines are nearly on the same pricelevel, which is very good, if this pattern occurs.

however, did i used the right spot for starting to draw the extensions?
i thought there was a good point, because of the breakout of the little sideway channel.

the other problem might be with the point where we are now, it looks like a reversal pattern may occur (engulfing) and if it reverses the extension wouldnt be valid anymore?
or could it be a 7 waves pattern?

@Peaches: i agree with u, this looks like a perfect setup, i would short USD/CAD
Hi silver, hi all,

I think now its time to think going long for NZD/USD. There is a doji on the daily after 9 bullish days. So i will wait for price-development tomorrow London/New york and long. After minimum 50 % retracement (maybe upper channel line-100% retrace ?) I look for continuation of the downtrend
(incomplete bearish crow at the weekly).

Have a nice day/night.
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