there are better days for trading. whole forex is flat today,
no big movements.
no big movements.
- #344
- Jul 6, 2008 1:21pm Jul 6, 2008 1:21pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
it´s a gread pitty that my last forecast (break of the channel to the downside) has failed, so lets have a look to last and previous candles:
The last big green candle is an bullish engulfing candle, which
normaly has medium reliability. Because it apears after a downtrend,
I think it will have a little bit more reliability.
So, this and the next round goes to the bulls.
On the last small red candle we can not count on, because frankfurt and
london have had a sleep (it seems), while new york has had 4. July.
The 4 hour chart shows 2 strong green candles. After such strong
move my observation often is a 38.2 or 50.0 fibo-retrace. This could
be a good mission for asia, and around 1,02 there is a decission to be made
for the 2. move up. This is a good mission for london or new york
What do you think ?
The last big green candle is an bullish engulfing candle, which
normaly has medium reliability. Because it apears after a downtrend,
I think it will have a little bit more reliability.
So, this and the next round goes to the bulls.
On the last small red candle we can not count on, because frankfurt and
london have had a sleep (it seems), while new york has had 4. July.
The 4 hour chart shows 2 strong green candles. After such strong
move my observation often is a 38.2 or 50.0 fibo-retrace. This could
be a good mission for asia, and around 1,02 there is a decission to be made
for the 2. move up. This is a good mission for london or new york
What do you think ?
it´s a gread pitty that my last forecast (break of the channel to the downside) has failed, so lets have a look to last and previous candles:
The last big green candle is an bullish engulfing candle, which
normaly has medium reliability. Because it apears after a downtrend,
I think it will have a little bit more reliability.
So, this and the next round goes to the bulls.
On the last small red candle we can not count on, because frankfurt and
london have had a sleep (it seems), while new york has had 4. July.
The 4 hour chart shows 2 strong green candles. After such strong
move my observation often is a 38.2 or 50.0 fibo-retrace. This could
be a good mission for asia, and around 1,02 there is a decission to be made
for the 2. move up. This is a good mission for london or new york
What do you think ?
I think I am going to follow 2h charts or 1h, but first I wanna see how oil and gold are doing, might be a good bull run for usd/chf but just me thinking.
- #346
- Jul 6, 2008 2:38pm Jul 6, 2008 2:38pm
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Seems to me like price is searching for a biggeretracement before shootting back ....
Short terme bearish...
Midterm is more bullish....
Possibel head and shoulders in the making...
Short terme bearish...
Midterm is more bullish....
Possibel head and shoulders in the making...
- #348
- Edited 7:37am Jul 7, 2008 7:27am | Edited 7:37am
- Joined May 2007 | Status: I Love EMAS! | 1,968 Posts
- #354
- Jul 7, 2008 3:13pm Jul 7, 2008 3:13pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
usdchf moved today a little bit as aspected, but just a little.
after the last bullish engulfing from last thursday there has to be some upside pressure, which leads the price to the back of the blue trendline.
Todays candle is not closed, but i can´t see any pattern. If it has no body, it would be a bearish gravestone doji, if it has no lower shadow, it would be an bearish inverted hammer. Anyway, the long upper shadow with the small body shows us a lot of downside pressure, which might continue next sessions.
after the last bullish engulfing from last thursday there has to be some upside pressure, which leads the price to the back of the blue trendline.
Todays candle is not closed, but i can´t see any pattern. If it has no body, it would be a bearish gravestone doji, if it has no lower shadow, it would be an bearish inverted hammer. Anyway, the long upper shadow with the small body shows us a lot of downside pressure, which might continue next sessions.
- #355
- Jul 7, 2008 3:20pm Jul 7, 2008 3:20pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
for gbpchf there will be a time for decision.
the chart shows the weekly, and price is a prisoner inside
this blue trendlines. Price might indecision, but time will
go a step forward and leave price behind.
One of these trendlines will be broken.
I prefer to the downside.
the chart shows the weekly, and price is a prisoner inside
this blue trendlines. Price might indecision, but time will
go a step forward and leave price behind.
One of these trendlines will be broken.
I prefer to the downside.
for gbpchf there will be a time for decision.
the chart shows the weekly, and price is a prisoner inside
this blue trendlines. Price might indecision, but time will
go a step forward and leave price behind.
One of these trendlines will be broken.
I prefer to the downside.
and TQ ovaforty for your analysis.
