Daily candle chart

also for AUDUSD

in the daily candle chart below we see a bullish engulfing pattern .maybe maybe we will see in 1.0210 or 1.0230 but then we will see a fall for USDCHF.
really this pattern is a retracement no a reversal

attention we are looking a weekly pattern .therefore weekly pattern have high reliability then daily pattern.
down is direction for EURCHF

peaches
time nice for short NZDUSD
maybe we will see a bearish long legged doji for NZDUSD

tommorrow (thursday) i see a bit more bullish for USD, but after this,
there are bears in play. eur/usd 1.60 will be taken (maybe)

yen will grow stronger after this, yen crosses drop again.

so, usd/jpy bulls are very limited in my opinion.

Agree with very good bulls in swissy = drop in usd/chf later and eur/chf early.

I learned doji means inidision in market , so i wait for
confirmation.

what scares me on this is usd weakeniss.

so, a drop one daily candle, and after this up we go, because
of USD weak.

I stay on the sideline for this.

aud/nzd: very good

hello dear hussin, hello all,

I have had a bit of thinking about eur/usd and gbp/usd.

The possibillity is based on james16-system (see thread here
at FF). In this system candlestick is most importend, so I think
it is OK, if I post it here:

Price has found a new support at 1,58, which is the 50 %
fibo level of the last high at 1,6037 and low at 1,5611.

Based on this system price will test this new resistance-level
2 times. 2. Time is a must. We have seen it has been
tested 1,58 first time yesterday.

so price now is going up. A confirmation of the general
uptrend imho, would be a higher high,
then the last one 1,6037 (but this is not part of the system).

Candlestick pattern is coming into play, when price
is coming back to test 1,58 / 1.5780 the second time.
If we see a bullish pattern (a hammer for example),
at this point this will be the confirmation for an agressiv
bullish movement above 1,60.

So I´ll watch price and candle-pattern near 1,58/1,5780 level
very close next week(s).

If 1.58/1.5780 breaks to the downsite, setup is invalid.

Sounds good, I´ll trade it, if there is a setup with candlestick
confirmation.

I´am very interested to see what will happen.

Happy trading

second chart for gbp/usd.

Trade bullish, when price comes back the second time into
new resistance zone and has confirmation of bullish candlestick pattern.

If new resistance zone break => invalid setup.

the resistance zones i mentioned had just been tested,
and held so far

Hello Hussin, hello all,

i like to draw your attention what happened, when a hammer appears
above the upper part of the ichimoku cloud (correctly name of this part is "senkou span b").

The lower part of the shadow touched the senkou span b, and price reacted like a little child has first time touched the fire:

Price jumped 550 pip from the location of the hammer up.

Last time this happend in July 2007 with a nice 2000 PIP run up
(see second chart).

I will never forget this pattern working together with ichimoku indicator.

hi peaches
yes,also i can not dostinguish properly difference between a false hammer and hammer .even i have point out this case in threads Auslanco-GBP/JPY (newstrade) no post:101378

in the weekly candle chart below we see a hammer previous week.
of course we know that a bullish hammer pattern is with low reliability .therfore we must wait for confirmation .if look in weekly hammer (2008.06.29)we see after appearance this hammer ,market of direction have changed to down.
im not agree with this hammer .totally is ee down USD/YEN in the next time

but in the daily candle chart USDYEN ,we see a defective yorikiri previous day.
my guess, USDYEN is downtrend channel .
let see

in the weekly candle chart EURUSD ,we see abearish harami pattern
appearance a bearish harami in the top !!!!!!!!

i think chart of EJ is very clear
at any rate ,we must see a fall for this pair with a hangign man pattern or tonbo pattern or bearish long legged doji.
i see below 1.65 EJ

in the weekly candle chart below we see a netral reversal pattern with medium reliability.
totally appearance this tohbo show us a uncertainty in market.
long upper wick :bulls maintain control and the buyres were abled to take price up to new highs
but then the bears have increased in these levels and leading to a lower price .
really a doji tohbo appears showing the diminishing power of the longs.
let see

in the past days we have seen a bullish belt hold (yorikiri).now we see a high wave .maybe hit with upper line downtrend channel ,obvious reason is for appearance this high wave

also look in daily candle chart GBPCHF ,we see a negative koma with hit upper line downtrend channel

whether time is suitable for short AUDNZD ??

Hi dear hussin,

my candle look totaly different from yours:

today (the red one) is a hanging man, the day before I can not count on,
its the weekend candle, and last fridays candle, it was a hanging man too
(the green candle).

strange, maybe it has something to do with my or your broker.