isn't that like a SUPER bearish engulfing pattern?
even with maximum zoom in, i can´t decide.
technicaly if tom demark is broken everything points to 1,53.
but fundamental usd bad data today doesn´t match.
difficult.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #99,041
- Jul 3, 2008 1:24pm Jul 3, 2008 1:24pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
even with maximum zoom in, i can´t decide.
technicaly if tom demark is broken everything points to 1,53.
but fundamental usd bad data today doesn´t match.
difficult.
- #99,042
- Jul 3, 2008 1:30pm Jul 3, 2008 1:30pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #99,043
- Jul 3, 2008 1:32pm Jul 3, 2008 1:32pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
lilmoe
what is your viewpoint about EURUSD ??
TMIE IS BUY OR SELL EURUSD ??
BEST REGARDS
HUSSIN
check the post before that
by the way. if this possibility proves to be true, i think this means strength for the dollar, which would for GJ up more. OR, it's just the EURO weakening big time.
as for equities. i think the downtrend is over. BAD NEWS and UP on Dow means more up. not a big fundies expert, but it's possible.
- #99,044
- Jul 3, 2008 1:36pm Jul 3, 2008 1:36pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
1.45 is next (crapper mode)
check the post before that
by the way. if this possibility proves to be true, i think this means strength for the dollar, which would for GJ up more. OR, it's just the EURO weakening big time.
as for equities. i think the downtrend is over. BAD NEWS and UP on Dow means more up. not a big fundies expert, but it's possible.
compared to the bad usd. Time for change hasn´t come yet, IMHO.
well known chart weekly since 2006.
please notice triple hidden bullish differgence on weekly and also the break of the light blue trendline to the upside.
sorry for hijaking this thread...
- #99,045
- Jul 3, 2008 1:37pm Jul 3, 2008 1:37pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
yes, if the upper part of body of the red candle would be above the upper part of the green candle.
even with maximum zoom in, i can´t decide.
technicaly if tom demark is broken everything points to 1,53.
but fundamental usd bad data today doesn´t match.
difficult.
here's a zoom in, and a zoom out
- #99,047
- Jul 3, 2008 1:40pm Jul 3, 2008 1:40pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
- #99,048
- Jul 3, 2008 1:41pm Jul 3, 2008 1:41pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
i live in euro land, everything is getting worse here, but i think its nothing
compared to the bad usd. Time for change hasn´t come yet, IMHO.
well known chart weekly since 2006.
sorry for hijaking this thread...
euroland has 2 major sources of income:
1) tourism
2) exporting manufactured goods.
euroland doesn't have enough oil to export
euroland doesn't make money out of dept.
euroland cannot print euros like the US can.
without cheap euro, 2 sources of income are BAD.
euroland wants out of big trouble? euroland must send euro to the shitter
i had a call from them last night, they offered me big euros for my crapper. lol
- #99,050
- Jul 3, 2008 1:42pm Jul 3, 2008 1:42pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
I mean no disrespect whatsoever. But if that is a head and shoulders formation, I have much more to learn about price patterns.
loooooooooool, bare with me bro
let my imagination go through
- #99,051
- Jul 3, 2008 1:45pm Jul 3, 2008 1:45pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
trend. So for confirmation of this candle during asia/london this is
a short.
I learned, confirmation is very very importend.
Hussin may verify this candle please.
I`am long, SL below 1,5670.
- #99,052
- Jul 3, 2008 1:47pm Jul 3, 2008 1:47pm
- Joined Apr 2008 | Status: Trader | 7,674 Posts
mr. tom demark is holding as resistance for now, but below my SL will be hit, and a sell limit order is triggered.
But I'll sell if my Sl is hithttp://www.forexfactory.com/showpost...ostcount=13052
- #99,053
- Jul 3, 2008 1:52pm Jul 3, 2008 1:52pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
euroland has 2 major sources of income:
1) tourism
2) exporting manufactured goods.
euroland doesn't have enough oil to export
euroland doesn't make money out of dept.
euroland cannot print euros like the US can.
without cheap euro, 2 sources of income are BAD.
euroland wants out of big trouble? euroland must send euro to the shitter
i had a call from them last night, they offered me big euros for my crapper. lol
discussing fundamentals for eur and usd goes maybe a little bit far for this thread.
but have a look for opinion of well known trader:
http://www.forexfactory.com/showpost...postcount=4151
also very good source:
http://www.bloomberg.com/apps/news?p...currency_rates
"The dollar has traded from $1.53 to $1.59 per euro in the past two months. The currency must weaken beyond $1.6020 to break out of the range and head for a decline to $1.67, wrote Kevin Edgeley, a London-based technical analyst at Goldman Sachs Group Inc., in a research note today. He uses charts to predict currency movements."
- #99,054
- Jul 3, 2008 1:55pm Jul 3, 2008 1:55pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
here's UJ weekly, and a daily zoom in.
clear hammer on UJ weekly, unless friday reverses that. BUT if friday or today closes above 106.83 (50% fib), hello 109. u guys know what that means to GJ.
clear hammer on UJ weekly, unless friday reverses that. BUT if friday or today closes above 106.83 (50% fib), hello 109. u guys know what that means to GJ.
- #99,055
- Jul 3, 2008 1:57pm Jul 3, 2008 1:57pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
discussing fundamentals for eur and usd goes maybe a little bit far for this thread.
but have a look for opinion of well known trader:
http://www.forexfactory.com/showpost...postcount=4151
also very good source:
http://www.bloomberg.com/apps/news?p...currency_rates
"The dollar has traded from $1.53 to $1.59 per euro in the past two months. The currency must weaken beyond $1.6020 to break out of the range and head for a decline to $1.67, wrote Kevin Edgeley, a London-based technical analyst at Goldman Sachs Group Inc., in a research note today. He uses charts to predict currency movements."
he's way more experienced than i am (maybe 15-20 years more?) lol. but this is forex. even benny B. can make a false prediction.
- #99,056
- Jul 3, 2008 1:58pm Jul 3, 2008 1:58pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
Here I explain why I see a complete 360 to 159 tonight..
http://www.forexfactory.com/showpost...ostcount=13052
for ej is limited, price is now in his upper part of his daily channel.
Oh my god, switch to the weekly e/j....
a perfect doji, it has no body only shadows.
- #99,058
- Jul 3, 2008 2:13pm Jul 3, 2008 2:13pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
here's UJ weekly, and a daily zoom in.
clear hammer on UJ weekly, unless friday reverses that. BUT if friday or today closes above 106.83 (50% fib), hello 109. u guys know what that means to GJ.
Attachment
Attachment
so, a hammer apears at the end of an downtrend showing bullish reversal.
The opposite pattern is called in western terms "hanging man" (pattern at the end of an uptrend showing bearish reversal).
What we have had on uj weekly 2 weeks ago is a dark cloud cover, which is a major bearish pattern with high reliabillitiy, so direction for uj is clear
:"Bearish Dark Cloud Cover Pattern is a two-candlestick pattern signaling a top reversal after an uptrend or, at times, at the top of a congestion band. We see a strong white real body in the first day. The second day opens strongly above the previous day high (it is above the top of the upper shadow). However, market closes near the low of the day and well within the prior day’s white body at the end of the day.
"Explanation: Market goes up with an uptrend. Then we see a strong white candlestick followed by a gap suggesting that bulls retain the control. However, the rally does not continue. Market suddenly closes at or near the lows of the day so the second day body moving well into the prior day’s real body. Longs are shaken somehow and short sellers now have a benchmark to place a stop, which is at the new high of the second day.
Important Factors:
If the black real body’s close penetrates deeper into the prior white real body, the chance for a top increases. There are some Japanese technicians who require more than a 50% penetration of the black day’s close into the white real body. If the black candlestick does not close below the halfway point of the white candlestick then it is better to wait for confirmation following the dark cloud cover; and even if it does, a confirmation may still be necessary. This confirmation may be in the form of a black candlestick, a large gap down or a lower close on the next trading day."
